The 14 Best Online Banks for Savings and Checking Accounts

When is the last time you checked to see how much your checking or savings account was earning you, just for having money in it? If you bank with a traditional brick-and-mortar bank, it might have been a while — and that’s not surprising.

When financial institutions like Wells Fargo and Bank of America offer annual percentage yields (APYs) as low as 0.01% on their savings and checking accounts, it’s easy to become accustomed to your money being stagnant.

But savings accounts and even checking accounts can earn you money if you choose the right bank or credit union. And nowadays, those banks tend to be online.

Best Online Banks of 2019, Ranked

The biggest allure of online banking is the high annual percentage yield (APY). APY is the interest (including compound interest) that you’ll earn on your money in a year. Because online banks very rarely have physical locations and need fewer employees, they have low overhead and can pass those savings over to customers.

The average APY for the nine best online checking accounts awarded in our 2019 list is roughly 1.4%. The average APY for our nine best online savings accounts is even higher: roughly 2%.

Remember, traditional banks offer interest rates as low as 0.01% for both checking accounts and savings accounts. (The national average for savings accounts is just 0.12%, according to Bankrate.com.)

But online bank accounts have many benefits outside of high interest rates. Here are just a few:

• Low fees (or no fees), including monthly maintenance fees (sometimes called monthly service fees), overdraft fees, foreign transaction fees and ATM fees. Some online banks even offer ATM reimbursement for out-of-network ATMs.
  

• Low or no minimum balance requirements.
  

• Better online and mobile banking experience, including better apps and two-factor authentication.
  

• FDIC and NCUA insurance up to $250,000.

These are the best online banks of 2019, starting with our top pick:

1. Ally Bank

Why we like this bank: Hands down, Ally is the best online bank of 2019, offering both online checking and savings accounts. APYs are high (the 2.20% savings APY is especially attractive), you can apply for major loans with Ally, and ATM access is never a problem.

Potential pitfalls: If you travel outside the country frequently, don’t use your Ally Bank debit card — it carries a 1% foreign transaction fee. Travel credit cards are a better option when traveling abroad.

2. Aspiration

Why we like this bank: Aspiration was our top-rated high interest checking account for this year, thanks to its unlimited ATM reimbursement, lack of fees and high APY.

Potential pitfalls: Aspiration is a checking-only account (no online savings), you won’t be able to apply for a mortgage or car loan, and you need at least $2,500 in the account to earn the 1.00% APY.

3. Synchrony

Why we like this bank: Synchrony has a healthy 2.20% APY for the savings account, which also includes a convenience card for ATM access. Its lack of fees (even for withdrawals past the maximum six per month) is also a highlight.

Potential pitfalls: Synchrony does not include a checking account and does not have a mobile app.

4. Capital One 360

Why we like this bank: Capital One 360 does not have the most attractive APYs on either its online checking or savings account, but the bank makes up for it with the industry’s highest-rated app, no monthly fees and easy account integration.

Potential pitfalls: As I mentioned, the 1.00% APY is not the strongest on this list, and it’s also not guaranteed. You’ve got to meet certain criteria to earn the maximum interest rate.

5. nkbc

Why we like this bank: nbkc (the National Bank of Kansas City) offers checking and savings accounts, as well as home and auto loans. Its APYs are respectable, but its lack of fees and wide network of ATMs are even more appealing.

Potential pitfalls: Its savings APY (1.77%) is not as competitive as some of the other online savings accounts listed here, and it costs $5 to open the account. That’s obviously not substantial, but most accounts on our list are free to open.

6. Axos Bank (formerly known as Bank of Internet)

Why we like this bank: The Axos Rewards checking account has high potential: 1.25% APY, assuming you meet strict criteria (monthly direct deposit of $1,000 or more and 15 total debit card swipes a month). It also offers unlimited ATM reimbursement, a savings account, and mortgage and auto loans.

Potential pitfalls: Foreign transaction fees total 2%, the mobile app has poor reviews, and Axos charges $10 for debit card replacement.

7. CIT Bank

Why we like this bank: CIT offers the highest interest rate for any savings account on our list (2.45%), but like the checking account at Axos, you have to meet some requirements to earn it — either a minimum balance of $25,000 or a monthly minimum deposit of $100. CIT has mortgage loans available, and its mobile app has great reviews on the App Store and Google Play.

Potential pitfalls: Aside from the tough requirements to earn the high APY, the CIT Savings Builder account suffers from lack of ATM access and a minimum balance requirement ($100). There is no checking account.

8. Alliant Credit Union

Why we like this bank: ATM access is almost always guaranteed when you bank with Alliant (it has more than 80,000 ATMs in its network). Alliant also operates one of the highest-rated apps for both checking and savings accounts and has physical locations in the Chicago area.

Potential pitfalls: Credit unions can be more challenging to join, and Alliant is no different. The APY is 2.10%, which is higher than brick-and-mortar banks like PNC but lower than most other online savings accounts included here.

9. Discover Bank

Why we like this bank: Discover Bank features both savings and checking accounts. Discover’s checking account is a rewards account, meaning you earn cash back for debit card usage instead of interest on the money in the account. The savings account has a 2.10% APY.

Potential pitfalls: You cannot get an auto loan through Discover Bank. The account also charges overdraft fees.

10. Barclays

Why we like this bank: Barclays offers a competitive 2.20% APY on its online savings account. Its mobile app is highly rated.

Potential pitfalls: You cannot open a checking account with Barclays, complicating access to funds.

11. Charles Schwab

Why we like this bank: Charles Schwab is great for those who like to travel — it has no foreign transaction fees and offers unlimited ATM reimbursement worldwide.

Potential pitfalls: APYs are low: 0.40% for the savings account and 0.50% for the checking account.

12. American Express

Why we like this bank: The APY for the American Express Personal Savings is 2.10%. Lack of fees and a strong mobile app are also key reasons to consider an account with American Express.

Potential pitfalls: American Express is a savings-only account, meaning access to funds can be challenging.

13. Simple Banking

Why we like this bank: The APY for the Simple checking account is incredibly noteworthy at 2.02%.

Potential pitfalls: Simple requires the checking account to have a linked Protected Goals account, which operates similarly to a savings account. The minimum balance is $2,000 to earn the high interest rate, and you can’t take out loans with Simple.

14. Chime

Why we like this bank: Chime is great for first-time savers. Its spending account has no monthly fees and unlimited ATM reimbursements. More importantly, it can be set up to automatically transfer 10% of any direct deposit into the linked savings account and/or to automatically round up to the nearest dollar on all purchases, depositing the extra change into the savings account. Chime also lets members access their paychecks early if they are paid via direct deposit.

Potential pitfalls: The APY for the Chime account is just 0.01%. It’s not a wise place to store all your money, but a good way to make sure you’re saving when you spend.

Why We Picked These Banks

To determine the online banks and credit unions for this list, we looked exclusively at the banks that made it onto our 2019 checking and savings account lists — or both.

These banks were selected from among nearly 40 of the most popular banks and were chosen because of their combination of high APYs, low minimum account balances, low or no fees, mobile/online experience and ease of funds transfers.

All banks on this list are FDIC-insured (Federal Deposit Insurance Corporation) or NCUA-insured (National Credit Union Administration) and have no monthly fees.

While many of the banks on each list offer both checking and savings accounts, only two banks were ranked in the top nine for both checking and savings: Ally Bank and Capital One 360.

Bank	Savings Account APY	Checking Account APY	Mortgage and Auto Loans	What Makes This Bank Great	And What Doesn’t
Alliant Credit Union	2.00% APY	0.65% APY	Mortgage and auto loans	Great mobile app; access to 80,000+ fee-free ATMs (and limited out-of-network ATM reimbursement); no overdraft fees	Foreign transaction fees
Ally Bank	2.20% APY	0.60% APY	Mortgage and auto loans	Great mobile app; access to Allpoint ATMs (and limited out-of-network ATM reimbursement); no overdraft fees	Foreign transaction fees
American Express	2.10%	N/A	None	Great mobile app	Limited access to funds
Aspiration	N/A	1.00% APY	None	Unlimited out-of-network ATM reimbursement; no overdraft or foreign transaction fees; donates 10% of earnings to charities	Requires minimum balance of $2,500 for 1.00% APY (otherwise, it is 0.25%)
Axos Bank	1.30% APY	1.25% APY	Mortgage and auto loans	Unlimited ATM reimbursement	Poor mobile app; foreign transaction fees
Barclays	2.20% APY	N/A	None	Great mobile app	Limited access to funds
Capital One 360	1.00% APY	1.00% APY	Auto loans, but no mortgage loans	Number one mobile app (J.D. Power); access to Capital One and Allpoint ATMs; no foreign transaction fees	Requires $100,000 or more for 1.00% APY, $50,000 or more for 0.75% APY (otherwise, it is 0.20%); overdraft fees
Charles Schwab	0.40% APY	0.50% APY	Mortgage loans, but no auto loans	Great mobile app; unlimited ATM reimbursement worldwide; no foreign transaction fees	Overdraft fees if funds aren’t available in linked account
Chime	It’s complicated	0.00% APY	None	Encourages first-time savers to be better with finances with Automatic Savings Account; access to paycheck before actual deposit; access to 38,000+ ATMs nationwide	Doesn’t offer any interest
CIT Bank	2.45% APY	N/A	Mortgage loans, but no auto loans	Highest savings account interest rate; great mobile app	Requires either $25,000 in account or minimum deposit of $100/month to earn high APY (otherwise, it is 1.17%); requires minimum balance of $100; limited access to funds
Discover Bank	2.10% APY	1% cash back on up to $3,000 in monthly purchases	Mortgage loans, but no auto loans	Great mobile app; access to 60,000+ fee-free ATMs; no foreign transaction fees; cash back rewards	No traditional APY for checking account, but cash back is still enticing (rewards checking account); overdraft fees
nbkc	1.77% APY	1.01% APY	Mortgage and auto loans	Access to Moneypass fee-free ATMs; limited ATM reimbursement; no overdraft or foreign transaction fees	APY ranges from 1.31% to 1.77%
Simple Banking	It’s complicated	2.02% APY	None	Access to 40,000 fee-free ATMs; no overdraft fees	Account requires a Protected Goals Account (which operates like a savings account) with $2,000+ to earn APY; foreign transaction fees
Synchrony	2.20% APY	N/A	None	Convenience card for access to ATMs (nice touch for a savings-only account); no checking account, but can open money market account (1.20% APY) for check-writing capabilities; limited ATM reimbursement	No mobile app

Drawbacks of Online Banks

Online banking isn’t without its issues, but customers have generally found the high-yield returns, stellar mobile experiences and lack of fees more than make up for online banks’ pitfalls.

Below are some of the most common drawbacks of online banks:

Limited Options for Cash Deposits

Depositing cash is the biggest challenge of online banks because they lack physical locations. Even online banks that have partnerships with brick-and-mortar banks for in-network ATMs often cannot accept cash deposits via ATM.

If you intend to deposit cash regularly (like if you’re a server or hair stylist who depends on cash tips) but still want the benefits of an online account, open an account with a brick-and-mortar bank solely to deposit cash and electronically transfer it to your online account.

Challenges With Transferring Funds

Online checking accounts generally make it easy to access your money with debit cards that work at thousands of ATMs. Some also offer checkbooks, no matter how archaic they may seem.

Online savings accounts, on the other hand, can be more challenging to access in emergencies than savings accounts at brick-and-mortar banks, but thanks to improvements in the speed of electronic transfer (ACH deposits) and new solutions from online savings accounts (like convenience cards), this issue has been largely reduced. You can read the specifics of funds transfers for popular accounts here.

No Face-to-Face Support

If you’re more old school about your money management and like the idea of walking into a branch and singing your sorrows to a bank teller who can help you figure out your financial problems, an online bank might not be for you.

Online banks offer incredible customer service online and over the phone, but you can only get comforting in-person help for your accounts at a brick-and-mortar bank.

Timothy Moore is a market research editor and freelance writer covering topics on personal finance, careers, education, pet care and automotive. He has worked in the field since 2012 and has been featured on sites like The Penny Hoarder, Debt.com, Ladders, Glassdoor and The News Wheel.

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.

The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.

source The Penny Hoarder https://ift.tt/2EWWXmW

How This Savvy Saver Got Her Credit Card Interest Rate Dropped

How to Make the Digital Nomad Dream a Reality

You’ve seen the images of digital nomads everywhere on social media. You know the ones. They’re sitting on a beach or by a pool with their laptop, claiming they’re living the ultimate and enviable lifestyle. Work and travel are effortlessly combined, there’s no drab office cubicle (or politics) and no ties to anything or anyone. […]

The post How to Make the Digital Nomad Dream a Reality appeared first on The Work at Home Woman.

Source The Work at Home Woman https://ift.tt/2u1GjgB

Could Pennsylvania's minimum-wage earners see a raise?

A decade since the last increase in the minimum wage in Pennsylvania, both Republican and Democratic state leaders appear ready to negotiate a higher rate.But just how high could be a sticking point.While Gov. Tom Wolf has proposed the hourly minimum reach $12 by July, Senate Majority Leader Jake Corman, R-Benner Township, told the Centre Daily Times he’s looking at number in “mid-$8 range” based on cost-of-living adjustments.Minimum wage statewide [...]

Source Business - poconorecord.com https://ift.tt/2SSR52N

Do Your Finances Spark Joy? Applying the ‘KonMari’ Method to Your Money

Take a look around your home at all of the “things” filling each room. Now ask yourself this question as you survey the crammed closets, cluttered guest bedroom, or overfilled garage: Do all of these things bring you joy?

Answer honestly. If you need a little help getting started with this sort of evaluation, pour yourself a cup of tea and cozy up with an episode of the Netflix series Tidying Up With Marie Kondo.

Kondo, as you may know, is a Japanese organization guru and bestselling author who has risen to practically rock star status based on her expertise with tidying up one’s personal space (she’s even been named one of Time Magazine’s 100 Most Influential People).

Her approach to improving one’s home is known as the KonMari method, and it involves six specific steps: commit yourself to tidying up; imagine your ideal lifestyle; finish discarding first; tidy by category, not location; follow the right order; and ask yourself if each possession sparks joy.

“Beginning with clothes, then moving on to books, papers, komono (miscellaneous items), and, finally, sentimental items. Keep only those things that speak to the heart, and discard items that no longer spark joy. Thank them for their service – then let them go” explains the KonMari website.

The key phrase there is identifying what in your life speaks to your heart. The goal of the entire effort is to simplify your life by being mindful about what you own and, ultimately, becoming happier with your life.

Those in personal finance circles have taken notice of the KonMari method and are abuzz about how the same approach and principles can be applied to managing one’s money in a much more fruitful, streamlined, and fulfilling way. And it makes perfect sense. Because if you can declutter your house, can’t you similarly declutter your spending?

“Marie Kondo helps people decide what it is you value in your life,” explains Scott Henderson, an accredited financial counselor and founder of Simplifinances. “It’s about how you can use money to live a more joyful life and then cut out everything else.”

Want to give your finances the KonMari treatment? Here’s how to get started.

1. Be aware of where your money is going.

Perhaps the first step toward applying KonMari to your finances is to take stock of how your money is currently being spent, in the same way you might look around your house and review what’s already cluttering your space.

“Most of us don’t even know how we spend our money,” says Henderson. “By recognizing where you spend money, then you’re able to decide, ‘Do I value this?’ You may not be spending your money on things you actually value.”

Henderson suggests sitting down and reviewing at least two to three months of your spending in order to get a truly accurate picture of where all of your money goes. One month’s worth of bank statements may not be sufficient for this effort.

• Read more: Why Keeping Careful Track of Your Spending Behavior Is So Valuable

2. Now check your values around spending.

Are you spending money on things that truly matter to you? Does the way you spend and save your money align with your personal principles and life goals? What are your values and long-term goals? All of these questions are part of the process.

“Figure out what you want most, not what you want right now,” suggests Matt Dworetsky, president of New Jersey-based Dworetsky Financial. “If you want that international vacation, it won’t be hard to give up your daily coffee from Starbucks. But, if that $5 cup of coffee is really $5 worth of indulgence and enjoyment, you don’t have to give it up – there will just be a trade-off in other areas of your life.”

The key here is to identify your core values, and determine whether the way you spend money is supporting those values. For example, if spending quality time with your family is important to you, investments you make toward that end — like taking a job with more flexible hours or planning a family outing — are likely to bring you more joy than, say, buying a new watch for yourself. Other examples of core values might include treasured experiences with your family members or friends, supporting charities, living in an environmentally friendly manner, retiring early, or seeing the world.

“Life is not just about acquiring stuff, it’s about spending money and time on things that you value,” explained Henderson.

If a greater portion of your spending is shifted toward supporting these values and big picture goals, then ideally your money will bring you more joy. But that doesn’t simply mean donating more of your money to charity. It means being more thoughtful about your day to day spending as well.

Daniella Flores, the creator of iliketodabble.com, a site about creative money tips and side hustles, recently went through this exercise for herself and her wife, writing down everything in their daily financial life that sparks joy and supports their personal passions, while also identifying those things that do not.

“The things that come to mind that spark joy are our investments; our side hustles, like my blog; our savings; the cash-back apps that we use, because that becomes extra money to utilize; our travel credit cards and points to use for free travel,” said Flores. “Things that do not spark joy for us are the remaining student loan debt that I have. I’m only a couple thousand away from paying that back though, so I’m happy to say that will soon spark joy for me. Bills being past due doesn’t spark joy, which is why we have all our bills on auto pay.”

• Read more: Reflecting What You Value in How You Spend Your Money, Time, and Energy

3. Clean up and de-clutter.

A core part of this process involves actually getting rid of those bills, subscriptions, or expenses that don’t bring you joy or support your values. (Think of this as the “Finish Discarding First” portion of the KonMari method.)

In other words, more than simply realizing what makes you happy and what does not, you must take action to adjust your financial picture and spending to align with your new roadmap.

“We can look at subscriptions we don’t use and cancel them,” said Agnes Kowalski, a wealth therapist. “We can look at services we’re paying for that we don’t enjoy. For example, if you resent having to pay so much for cable every month, cancel and just use Netflix.”

• Read more: Our Experience Cutting the Cord and Eliminating Cable Television

You can also stop buying things you can’t afford, adds Flores. The looming bills will just clutter your mind with stress. And while you’re at it, prioritize paying off debt.

“Start with the highest-interest debt first so it doesn’t continue to accumulate, thus cluttering your financial life even more,” says Flores.

Once you’ve got the ball rolling, keep it going, finding even more ways to declutter your finances and to reduce spending in areas that don’t make you happy.

“Don’t waste time on frustrating, expensive services like cell phone provider contracts and outrageous car insurance companies,” continues Flores. “Always research before signing up for anything. For instance, you don’t need to have Verizon or AT&T for good cell service. Try cheaper service providers like Republic Wireless or Mint Mobile. Another example is we switched our car insurance providers as soon as I found out I was paying much more than I should be paying. After we did our research, we saved ourselves $150 a month by switching.”

4. Tidy up by spending category.

In the same way Kondo suggests tidying up your home by category (clothes, books, papers, komono/miscellaneous, and sentimental items) you may also want to view your spending by categories going forward.

Those categories can be up to you, but ideally they’ll align with your values.

“Set up some sort of system that makes it easy to manage your money according to your values,” says Henderson. Track your expenses, and each time you spend money, assign it to a specific category.

While Henderson suggests categories such as housing, transportation, food, and entertainment, your own list could be tailored to include whatever is meaningful to you.

If that sounds a bit like a budget, well, you’re not far off; after all, a budget is simply meant to help you prioritize your spending — to make sure you have enough money for essential needs, but also the “wants” that are most important to you.

• Read more: Budgeting Seem Too Complex? Five Simple Alternative Strategies for Real Results

5. Access joy.

Ultimately, the goal of taking the KonMari method into the realm of personal finances is to make money more joyful and less stressful, because for so many of us, money is a significant source of stress and worry.

To further emphasize joy around your money, consider naming your bank accounts with descriptions tied to happier or more meaningful goals: “Savings for an awesome pool account or saving for that trip to Greece account,” suggests Kowalski.

But ultimately, sparking joy with your personal finances comes down to a fundamental shift in mindset, which is tied to a change in the way you use money in your life and the power it has in your world.

“Asking how your finances spark joy is all about shifting your mindset from ‘What can I afford?” to ‘What do I value?’” says Ahna Holloran, a personal finance coach for Fika Finance, who works to help people improve their lives and eliminate stress by taking control of their money. “When you do this, it becomes less about having to stick to a rigid budget, depriving yourself and feeling miserable, to being content with what you have the financial decisions you’re making.”

All of a sudden, says Holloran, you’re evaluating your purchase decisions based on what will really bring you joy over the long term, rather than simply living for the short-term rush.

Read more: 

• Shifting From Short-Term to Long-Term Thinking
• Some Thoughts on Marie Kondo
• Things

The post Do Your Finances Spark Joy? Applying the ‘KonMari’ Method to Your Money appeared first on The Simple Dollar.

Source The Simple Dollar https://ift.tt/2NRafFk

Upcoming roadwork, Sunday, March 10, 2019

The Pennsylvania Department of Transportation has announced that the following roadwork projects will be taking place within Monroe County during the upcoming week. PennDOT warns that inclement weather could cause delays with these projects.From March 10 to March 15, Interstate 80 in Stroudsburg, East Stroudsburg, and Stroud will undergo lane restrictions for core bore drilling. Restrictions will be in place between Exit 302 and Exit 307 from 10 p.m. until 5 a.m. on the aforementioned [...]

Source Business - poconorecord.com https://ift.tt/2CcxOE2

Exploring the Connections Between Your Intellectual Life and Your Financial Life

This is the third entry in an eight part series exploring the connections between your finances and other areas of your life.

A few weeks ago, I started a series exploring the connections between personal finance and the other “spheres” of my life. The first entry covered the connections between one’s physical life and financial life, the second entry covered the connections between one’s mental and spiritual life and financial life, and today we’re looking at one’s intellectual life and financial life.

As noted in the first entry, I tend to view life as a bunch of “spheres,” or areas of focus. I really like Michael Hyatt’s list of nine such “spheres”: physical, mental/spiritual, intellectual, social, marital, parental, avocational (hobbies), vocational, and financial – they cover much of what life is all about. I’ve come to view these spheres as deeply interconnected, in that success in one sphere is usually linked in some significant ways to success in other spheres (and failures are similarly connected) and that knowing the connections can help people figure out how to succeed in both areas at once.

Today, we’re going to look at the intellectual sphere.

What Is the “Intellectual Life”?

Intellectual life refers to the thoughts, knowledge, ideas, and problem solving that run through your mind. Much of the time, our intellectual life is shallow – we’re thinking about our appointment later today or the game we watched last night. However, when we actually engage with difficult topics and difficult problems that really challenge and push us, we deepen our intellectual life and achieve a better understanding of the world and of ourselves.

The benefits of a robust intellectual life are many. The world seems less mysterious. You understand your own viewpoints better and can explain them better. It’s easier to hold down conversations on all kinds of topics. It’s much easier to solve problems of all kinds. You’re less afraid to tackle projects that you might not fully understand at the start. Not only are those things true, but I find that really stretching one’s intellect leads to a “flow state” where you lose track of time and place and, for me, that is one of the most profound sources of happiness in life.

In the modern information economy, a robust intellectual life often helps a person with their career, so there is some overlap with one’s professional life. However, our thoughts and ideas stretch far beyond what we do in our careers, so there is only an overlap between one’s professional life and one’s intellectual life.

For me, one’s intellectual life comes down to a positive answer to one key question: do I have a robust understanding of the world around me which I can use to solve problems and relate to others?

Having a robust intellectual life offers a bunch of financial benefits.

First, you’re much more likely to be able to find work and to be flexible enough in their work to always find employment. A person with a wide knowledge base and a strong ability to solve problems is generally going to be a valuable asset in most workplaces (provided it’s combined with reasonable interpersonal skills). Such people are typically able to find high paying jobs, retain them, and easily move to new ones should their situation change.

Second, you’re more open to taking on intellectually challenging tasks, which can help both professionally and at home. This is why a person with a robust intellectual life usually finds employment with ease – they’re able to solve problems and take on challenging tasks. This is also true at home, where the ability to take on difficult tasks (such as home repairs) generally saves quite a lot of money.

Third, you have a much wider field of topics to converse about, which makes building professional (and personal) relationships much easier. A person with a healthy intellectual life can carry on a conversation with anyone, finding some sort of common ground for meaningful and worthwhile conversation. This aids greatly in the building of professional and personal relationships.

Finally, you have a much greater capacity for analyzing your own financial situation and developing your own solutions and plans. A person who is adept at self-learning and problem solving can typically figure out almost any personal finance situation on their own, come up with a strong solution, and implement that solution.

Here are five low cost strategies I use for maintaining and improving my own intellectual life.

Strategy #1 – Read Genuinely Challenging Things and Work to Understand Them

I make it a point to devote at least one solid hour a day to reading something that challenges my mind and forces me to think. This usually forces me to read slowly and consider new ideas carefully. I often take notes as I’m reading so I have a track of thoughts to take up later on.

I often choose reading that is at least professionally adjacent, meaning that there’s at least some connection to the topics I write about, but many of the books I choose have no seeming connection at all to personal finance or personal development. The purpose is to read about something that I don’t understand well and to improve my understanding of that topic.

This is hard. It’s much easier to read a page-turning novel or more material on topics that are very familiar to me. Reading something difficult is mentally taxing and forces me to think in new ways, but that’s part of the value of it.

Reading is my primary way of absorbing information, but everyone learns in different ways. The key thing is to find an avenue of learning that works for you, then use that avenue to take on things that are difficult for you to understand, but that you can work through if you take it slowly. If you find that watching videos is best for you, don’t be afraid to pause videos to look up words or to work out something for yourself. The same is true with audiobooks – pause them and think about the material as you go.

What topics should you dig into? Dig into ones that you’re personally curious about. Dig into topics that people you associate with might know about, so you can converse with them about it. Dig into topics that relate to your career in some fashion. Those three areas alone should provide a wealth of ideas.

How do you know what to read? Try reading something that’s difficult but not impossible to understand. You should be stopping regularly to consider new ideas or to look up words, but it shouldn’t be overwhelming. If you’re completely lost, look for a simpler book or video or other material to start with; there’s nothing wrong with starting with a very introductory book.

Strategy #2 – Explain Things You Think You Understand to a Novice

When you think you understand an idea thoroughly, try explaining it to an eight year old.

This might seem like a strange way to enhance your intellectual life, but hear me out. If you can explain an idea to an eight year old, it likely means that you have a thorough understanding of the topic. If you can’t explain it well without relying on shorthand concepts or ideas or words that an eight year old wouldn’t understand, your own understanding is probably somewhat limited.

The approach I like to use is this: after I read a chapter or a section in a hard book, I let that section float around in my head for a while, then I try to summarize it out of my head in my own words in the simplest language I can while still making it clear. If I find that I can’t do this well, then I know I need to back up (and backing up to read something again is fine).

This actual process is hard, and doing this makes me appreciate the task that elementary school teachers have when they’re explaining a new idea to an elementary aged student. You simply have to know an idea very well to be able to explain it to a child.

Strategy #3 – Engage in Difficult Puzzles and Games

Games and puzzles are powerful ways to encourage intellectual growth. They help with logic. They help with interpreting situations. They help with coming up with strategies and plans. They help you deal with plans that are undone. They can help with skills like negotiation and trading. Plus, they can often be purely fun.

There are an infinite variety of games and puzzles out there. Puzzles don’t begin and end with mazes and crossword puzzles and word finds and Sudoku. Games don’t begin and end with Fortnite and chess. There are an infinite variety of both and they’re well worth exploring, because they scratch all kinds of different intellectual and thematic itches.

If you want to try out a variety of puzzles, look at acrostic puzzles, logic puzzles, or cryptic crosswords. Try taking on chess problems or go problems. If you want to try out a variety of games, don’t just turn to your smartphone or a computer or video game console; look for a community board game night and go with an open mind, or check out a chess club.

The goal is to find something that makes you think in a pleasurable way, where you’re figuring out a solution or evaluating odds and coming up with strategies and plans, but having fun doing it. Any game or puzzle that does that is well worth incorporating into your regular life.

Strategy #4 – Take on “Think-y” Projects and Challenges That Are Just Beyond What You Think You Can Do

One of the best things you can do to stimulate your intellectual life is to take on a challenge that’s just a little bit beyond what you think you can handle. Often, you don’t know exactly how to get to the end product you want, but you feel like the steps should be something you can figure out.

This usually requires a burst of self-learning followed by trying out different techniques you’ve never done before (and often an alternation between the two), coupled with some careful thought and planning about how to proceed.

Often, such a project results in going into a “flow state,” which is a state in which you’re so engaged with a project that you lose track of time and place and are simply absorbed into the task. For me, this is one of life’s peak experiences, and I most frequently attain it when I engage with a challenging project that demands my full thinking and focus.

Want some examples? Home repair projects are often like this, especially when the project is complex enough that you’re not quite sure how to do it. Computer programming tasks are often like this. Really complex meal preparation can be like this.

So, if you want to try this, take on a home improvement project that seems simple but you don’t know how to do it. Figure out how to do it by watching videos. Make a meal or a food item that you don’t immediately know how to make. Figure out how to do it, then do it. Push yourself a little bit beyond what you think you can do.

Strategy #5 – Have a Deep Conversation with Someone Where You’re Willing To Have Your Ideas Challenged and Changed

This is another powerful way to really stretch your thinking capacity in a fun way, but it requires a few things to be true. First, everyone participating has to be willing to not hold onto a particular viewpoint with emotion, because when emotion gets involved, you’re no longer trying to understand, but trying to win by any means necessary. Second, you need to be discussing an issue with someone who has at least somewhat different knowledge and understanding of an issue than you, although you are bringing some knowledge and understanding of your own. Third, everyone involved must be willing and able to keep their emotions in check. Finally, everyone involved must be willing to question their own viewpoints seriously.

If you have all of those elements in place, sit down with those people and simply talk through whatever it is you’re curious about. Try to understand all sides, and do that by giving a good faith argument on behalf of that viewpoint, even if none of you agree with it. Be willing to hear criticism of the ideas you support without getting angry or defensive about it. Remember, the goal is for everyone to understand all sides better.

Again, this is often very challenging. It forces you to look at a complex matter from a lot of angles, with people sharing perspectives and often introducing angles you haven’t thought of before. It absolutely requires respect and a lack of defensiveness about ideas, but if you can get past that, such conversations can be deeply enlightening.

I usually find that when I have conversations like this, I end up with more respect for the other viewpoints on an issue or an idea than I had before I started. Furthermore, doing it once makes it easier to do in the future, and you’ll often reach a point where you start trying to understand other sides of issues in a genuine way even without having such conversations. The key is to put forth genuine effort to understand other perspectives without just locking down and being defensive.

As a further benefit, I often find that this is a great way to build a social bond with someone. If you can have this kind of conversation successfully with someone, you end up bonding with them.

Final Thoughts

Making room in your life for deep stimulation of your mind plays a powerful role in improving your problem solving skills, which applies powerfully to your professional and financial spheres, as well as to many other areas of your life.

If I can suggest one single thing, it’s that you take some time each day to either read a book or watch a video or listen to an audiobook on a topic you don’t understand well but you wish to, and focus on that material with intensity. Block off that time and make it a scheduled event that can’t be broken unless absolutely necessary.

You’ll find that the benefits from doing this go far beyond just understanding a new idea or two.

Good luck!

The post Exploring the Connections Between Your Intellectual Life and Your Financial Life appeared first on The Simple Dollar.

Source The Simple Dollar https://ift.tt/2JfPdSr

Are You Covered? This Company Helps You Secure Your Family’s Future

Life comes at you fast.

At 5 years old, Derick Davis’ life changed forever when his father unexpectedly died.

Though he had a life insurance policy, the coverage wasn’t enough to help Davis’ mom keep their family afloat.

When reflecting on his mom’s financial situation, Davis, now 37, says, “She could have been in a better one. She did save some money, especially a lot of the Social Security survivor benefits … but it wasn’t enough.”

Since then, Davis’ life has changed significantly: He lives in Virginia with his wife and two boys, and he works as an assistant professor at the University of Virginia. After completing 13 years of college, he earned a PhD — and racked up thousands of dollars in student loan debt. On top of paying that down, Davis and his wife have two college educations to save for.

With so many futures hanging in the balance, Davis realized he wasn’t doing enough to keep his family protected.

Just like his dad, he had life insurance, but only enough to cover a couple of years’ salary.

“If money’s tight now,” he says, “imagine what it would be like if your income is gone when you’re not around.“

One of the hardest parts about choosing a life insurance policy is trying to figure out just what kind of policy is the best fit for your situation. What if you sign a 15-year policy and something changes?

Ladder gets that. The company makes it easy to keep your family protected, even when your needs change down the line. That’s why it offers term life insurance policies that can be adjusted at any time (i.e. increasing or decreasing the coverage amount), or even cancelled without any additional charges.

Secure Your Family’s Future the Simple Way

Your life is dynamic, and your life insurance coverage should be able to change with it. That’s why Ladder offers flexible coverage.

You can use Ladder’s coverage calculator to figure out how much coverage you should have. Then complete their quick online application in only a few easy steps:

• Take about five minutes to answer questions about your health and life, such as your activities and medical history.

• You’ll get an instant decision on coverage, and there’s no risk. Many people receive an offer they can accept immediately. In some cases, simple lab work might be required, but that’s easy, right?

• When you apply, you’ll need to enter your driver’s license and Social Security number, which is true for any life insurance application. The company needs this information to verify your identity and prevent fraud. It uses a secure website and will not sell your private information.

• There are no policy fees, and you can cancel anytime. There’s even a 30-day money-back guarantee.

After seeing how simple the process was, Davis and his wife each got a policy through Ladder that covered them both at 10 times their current income.

One of the perks? Davis says their monthly payment is less than their cell phone bill.

“I thought it was going to be hundreds of dollars a month, and that just wasn’t the case.”

Now, he and his wife can sit back and relax, knowing Ladder will help provide financial support for their family if something ever happens to them.

“It makes me feel that I’m doing the right things in order to give my kids the best chance if something should happen,” he says.

Your life is full of changes. With Ladder, you can get life insurance that can change with you.

Farrah Daniel is an editorial assistant at The Penny Hoarder.

The statements and testimonials presented here were provided voluntarily and not in exchange for any payment, and are applicable for the individual(s) mentioned above. Individual results and experiences may vary.

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.

The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.

source The Penny Hoarder https://ift.tt/2HnmR63

The Penny Hoarder Insider Will Deliver Tips and Deals Straight to Your Phone

Last year, we launched our exclusive text message alert program, The Penny Hoarder Insider.

Since then, thousands of people have signed up to receive timely updates and tips on the latest and greatest ways to make, save and manage their money.

Each week, we send out 1-3 texts letting you know about money-making opportunities, work-from-home job openings, actionable tips that can help you fix your financial situation and timely information on topics like budgeting, banking or managing your 401(k).

To subscribe, simply click here or text PENNY to 98582.

We know life is busy and your phone is your private space, so we won’t inundate you with useless information; we find value in everything we share, and we think you will, too.

Thanks for signing up, Insider!

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.

The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.

source The Penny Hoarder https://ift.tt/2THNuJg

Dear Penny: I’m in So Much Debt My Teenage Son Is Afraid of Student Loans

Dear J.,

Your debt has consumed you. You probably thought you hit your lowest financial point years ago, when you were a new mom; then you probably thought you were at the bottom again when you defaulted on your student loans. And now, here you are with the added burdens of medical debt and your son’s misconceptions about how investing in college could derail his future.

There’s a lot you can’t change right now. But one area where you can make a major change right away is in how you and your son discuss his options for higher education.

Your family’s income is not the sole determining factor for how much financial aid your son is eligible to receive. The size of your family, for instance, will also be considered. Applying for federal student aid is a must-do if your son wants to pursue college, as it’s the first step toward figuring out what sort of grants, loans and work-study programs will be available to help him cover the costs.

Once he receives financial aid offers, he can truly evaluate the affordability of school. He may have to start at community college or another lower-cost option, but he shouldn’t count out college solely because of your family’s financial struggles.

Next, it’s time for you to get help sorting out the options for your own finances. Calling for assistance from an impartial third party can help you make sense of your situation instead of spinning your wheels and feeling desperate. A debt counselor in your area can review your credit report and provide free educational resources that can help. They can also help you enroll in a debt management plan that will make your debt easier to manage.

In extreme cases, a debt counselor may recommend that you consider filing for bankruptcy, which can discharge some of your debt. There’s a lot of shame around the idea of doing this, but it could be the lifeline you need to find stability for your family.  

And that may be the hardest part of taking your next financial step: letting go of the shame. More people than you can possibly imagine have struggled to gain financial stability, let alone success. I won’t be glib and say you’re in good company. But you at least have company.

You may be surprised at how understanding your peers are as you seek help and start to work your way out of debt.

Have a tricky money question? Write to Dear Penny and you might see your question answered in an upcoming column.

Lisa Rowan is a personal finance expert and senior writer at The Penny Hoarder, and the voice behind Dear Penny.

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.

The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.

source The Penny Hoarder https://ift.tt/2Uy6nff

The Best SEO Tools the Pros Really Use in 2019

When I first started using SEO tools and tried to figure out which one was right for me, I was pretty confused.

There are a bunch of tools in the space, they seem to overlap a lot, and there are way too many specialist tools to sort through.

And which one’s have data that I can trust?

After using all these tools for years and years, I’ve come to realize there are only a few choices you need to make.

First, there are three main tools in the market: SEMrush, Ahrefs, and Moz. Everyone uses one of those three. We’ll get to our recommendations for these down below.

I call them the SEO workhors — and all three of them qualify as one of the best seo tools. These workhorses carry the bulk of the weight in any SEO program, but you only need one SEO workhorse.

Any serious SEO program absolutely needs a SEO workhorse. The rank tracking, keyword research, and link analysis are all too difficult or time consuming without one. I’ve tried to get away without paying for them; that was a mistake. I could have gained a lot more traffic by using one of these tools from the beginning.

After you pick your main SEO workhorse, I highly recommend you take full advantage of the free tools. Google Analytics and Google Search Console are both world class and I consider them both required tools in day-to-day SEO operations. Plus they’re free.

Beyond that, there are a few specialty tools worth picking up if you’re doing those types of tasks.

Pretty simple all-in-all.

Here’s how your decision process will go:

• Pick SEMrush, Ahrefs, or Moz as your SEO workhorse.
• Install a SEO plugin if you’re on WordPress.
• Add an advanced SEO crawling tool if your site is massive.
• Add an outreach tool if you’re doing link building.
• Get the free SEO tools in place: Google Analytics and Google Search Console.

Best SEO Tool for Beginners: SEMrush

If you’re new to this whole SEO thing, I highly recommend that you go with SEMrush.

Compared to the other “SEO workhorse” tools, it’s by far the easiest to use. Ahrefs definitely has a learning curve and Moz has never clicked with me — I can never understand where to find anything.

SEMrush’s rank tracking reports are also the best in the industry. I check our reports every morning. Within a few minutes, I feel like I’m in complete control of what’s going on. All the other tools spread stuff out all over the place. Or the reports coddle me too much and don’t have enough density. SEMrush has that perfect balance of usability and depth with its reporting. You’ll have everything you need without getting overwhelmed.

SEMrush has all the other essential parts of a SEO workhorse: link analysis, keyword research, and competitive analysis. All of them are more than good enough to hold their own against the other SEO workhorses.

Just for Quick Sprout fans, SEMrush is offering a 7-day free trial, which they don’t normally do. In order to give you full access to their pro plan, they will ask for a credit card before starting the trial.

Best SEO Tool for Advanced Folks: Ahrefs

If you’re more comfortable with all this SEO stuff and want a tool to really flex your skills, go with Ahrefs.

They’re the “new” SEO kid on the block and I have to admit, their tool has a ton of depth to it. Every time I log in, I find a hidden feature or report that makes me giddy.

That’s also the one weakness, I’m still discovering new features I had no idea existed. Ahrefs doesn’t hold your hand at all. For an SEO expert, it’s liberating. The tool is denser than granite. But I’ve watched SEO beginners try to get their heads around it and they really struggle. After poking around a bit, they stop logging in altogether.

Ahrefs is perfect if you know exactly what you want and are determined to get it.

On specific features, I prefer the link analysis in Ahrefs over the other tools. So if you’re planning on doing a lot of link building, it’s worth getting through the learning curve.

Best SEO Plugin for WordPress: Yoast

There are probably thousands of SEO plugins for WordPress.

Only one of them matters: Yoast.

I consider it a required plugin on any WordPress site. It automates a ton of SEO tasks and makes things like meta titles and descriptions super easy to update.

I don’t spend any time on this decision — I install Yoast and move on.

Just use the free version of Yoast; there’s no reason to upgrade.

Check out our full list of recommended SEO WordPress plugins here.

Best SEO Crawling Tool: Screaming Frog SEO Spider

There’s one type of SEO task that the main SEO tools struggle with: crawling and auditing huge sites.

When you have a site with thousands of URLs, there’s just no way to go through the site on your own. And the audit tools in SEMrush, Ahrefs, and Moz are pretty basic.

For a massive site that needs a huge audit, a dedicated crawling tool makes the task so much more manageable. The entire UI and all the workflows are built around having to manage thousands of pages at once. There’s no extra clicking or back and forth. And the tool automates as much of the process as possible. You’ll instantly find all the broken links, missing meta descriptions, bad redirects, and duplicate content on your site.

Screaming Frog SEO Spider is our preferred site crawler. It’s been around the longest and has site crawling dialed.

You didn’t hear this from me, but since site audits are usually a one-and-done type project, you can sign up for the tool, pay for a few months while doing your site cleanup, then cancel it once you’re done.

The only folks I know who have long-term subscriptions are SEO consultants who do multiple audits every month for clients.

Best Outreach Tool: Pitchbox

I remember the days when you could get away without doing any link building in SEO. That’s how we built the KISSmetrics marketing blog to over 700,000 visitors per month. We just posted a ton of great content over an 8 year period.

Nowadays, that’s not nearly enough. SEO has just gotten too competitive.

My rule is that if I’m not willing to do outreach for link building, I shouldn’t be focusing on SEO for traffic. I should find another strategy to grow my business.

I’ve done a bunch of outreach projects out of Gmail and a Google Sheet. It’s such a pain. Especially when a team is involved. Keeping track of who contacted who, updating last status, remembering to send follow-ups, coordinating and updating templates, it’s all a massive pain that takes up way too much time.

And outreach is painful enough, no reason to make it any harder.

These days, I always use an outreach tool when link building. I don’t even consider the option of skipping it. A good outreach tool automates the majority of the outreach. It’s a game-changer. I used to hate outreach with every fiber of my soul, now I don’t mind it.

Our favorite tool for outreach is Pitchbox. It’ll find contacts for you, automate email follow ups, and keep track of all your outreach contacts. Seriously, use it.

Make Use of Google’s Free Tools

Google Analytics is our favorite website analytics tool. And the search data in Google Search Console is a gold mine. Don’t bother trying to pay for any of the paid analytics tool. Google Analytics gives you more than you’ll ever need and it’s completely free.

We have a guide on how to set up Google Analytics here.

After you get Google Analytics installed, go set up Google Search Console too. It’s completely free and you’ll get access to your data once Google Search Console verifies your Google Analytics account. Other than the authentication to prove that you own the site, there’s nothing else you need to set up for Google Search Console.

Google Search Console is the one and only place to get real keyword data from Google. Every other tool is a best guess. It also records all the errors Google picks up on your site, tells you what’s been indexed on your site, and gives you impression and click-through data on all your keywords. I can’t overhype it enough — use it.

We never work on websites without installing both of them and they’re completely free. Even if they were paid, they’d be worth every penny.

Source Quick Sprout https://ift.tt/2SOLOt3

Get Free Pancakes at IHOP on March 12 to Celebrate National Pancake Day

Pancakes.

Kids love ‘em, adults love ‘em.

They’re good for breakfast, lunch and dinner. They’re good for a snack or dessert. They’re delicious topped with butter, syrup or strawberries and whipped cream.

Whether you’re a carb aficionado or you simply like free food, get your forks ready: March 12 is IHOP’s annual National Pancake Day celebration, and that means you get free pancakes.

How to Get Free Pancakes

Every year since 2006, more than 1,500 IHOP restaurants across the U.S. and in Canada have offered customers a free short stack of three buttermilk pancakes on National Pancake Day.

To get your free pancakes, visit your local IHOP on March 12, 2019 between 7 a.m. and 7 p.m. — hours may vary by location.

The fine print says you can order one short stack of pancakes per guest while dining in the restaurant — no to-go orders allowed.

The deal is available while supplies last, but since it’s the International House of Pancakes, it’s a safe bet the pancake supplies will hold out for quite a while. Still, you may want to prepare for a longer wait than normal since free stuff has a way of attracting a crowd.

Guests are not required to pay anything for their short stack, but IHOP does ask them to consider making a donation to the Children’s Miracle Network, Shriner’s Hospitals for Children or the Leukemia and Lymphoma Society.

Kelly Gurnett is a freelance blogger, writer and editor who runs the blog Cordelia Calls It Quits, where she documents her attempts to rid her life of the things that don’t matter and focus more on the things that do. Follow her on Twitter @CordeliaCallsIt.

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.

The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.

source The Penny Hoarder https://ift.tt/2TmK4wl

Saving Money with Homemade Pizza and Family Movie Night

It’s kind of a Friday night tradition for our family to have pizza and watch a movie together. For our family, the regular plan is to make or order two large pizzas so that we have plenty of leftovers for weekend lunches. This typically costs somewhere around $30 if we buy it at the store. However, if we make it at home, the price drops to somewhere around $10 for both pizzas combined. That’s a $20 savings, and thus it’s well worth discussing here as a cost saving measure.

It’s worth noting that we don’t make pizza every single Friday; sometimes we do order it when we’re under a particular time constraint. Sometimes there are activities late Friday afternoon or early evening that interfere with actually making the pizza, which does take a while. Having said that, if one plans ahead, you can definitely make a pizza ahead of time and store it in the fridge, to be popped in the oven when needed.

I thought it might be interesting to run through our pizza preparation process, digging into exactly how much it costs, and offering up a simple procedure you can follow yourself.

Let’s dig in.

First of all, the only pieces of equipment you really need to make a homemade pizza are a large bowl of some kind (even a small pot will do), an oven, and a pizza pan. Pizza stones are nice but I don’t find them necessary to make a very good pizza.

My preferred pizza pan is this AirBake 15.75″ non-stick pizza pan that features a bunch of small holes on the bottom, which seems to help make the crust firmer on the bottom. I rarely run into uncooked crust in the middle with this pan (with one minor exception, which I’ll note later).

My basic recipe for one very large pizza that covers that whole pan has the following ingredients:

• 1 3/4 cups warm water
• 1 Tbsp. extra virgin olive oil
• 2 tsp. kosher salt
• 1 1/2 tsp. dry yeast
• 1 1/2 tsp. granulated sugar
• 4 1/4 cups flour (see note below)
• (Optional) 1-2 tsp. each oregano, basil, garlic, black pepper, or other seasonings, to taste
• Sauce, toppings, and cheese of your choice

I’m honestly not sure where I originally found this recipe, but it is my standby recipe. It’s worth noting that I usually make two crusts at the same time, so I double the recipe and divide it in half just before baking.

A note on the flour: all purpose white flour works just fine for this, but you can certainly use other kinds or mix flours together. I like to use about 1 cup of rye along with 3 1/4 cups all purpose white flour.

I start by just pouring the warm water into a bowl, then adding the olive oil, salt, yeast, and sugar and stirring it a bit. If I’m using seasonings, I add them now. Then, I add the flour and stir until everything turns into a wet dough. It should hold together in a single wet ball, but be really sticky.

At this point, I ask myself what kind of crust I want for the pizza. Do I want a thick, almost bread-like, doughy crust? If that’s the case, I stop stirring the wet dough and just leave it as it is. I simply cover it and let it rise in the bowl for about three hours, then I put it in the fridge.

If I want a thinner crust, I’ll add enough flour so that it just barely sticks to my hands, then I knead it for a few minutes and return it to the bowl and cover it. If I want a really thin crust (it’s not cracker-thin, but pretty thin), I immediately put it in the fridge (still covered); if I want kind of a medium crust, I let it rise for an hour or so, then I put it in the fridge (still covered).

Regardless of the crust thickness I want, I take it out of the fridge half an hour before I intend to start baking and let it sit on the table to rest and rise just a bit and warm up to room temperature. As soon as it comes out of the fridge, I punch down the dough thoroughly if I want it to be thin and punch it down a little if I’m aiming for medium; I leave thick crust alone.

I preheat the oven to 450 F, then I stretch out the dough into a round pizza shape on the pan. I bake the crust alone for just a couple of minutes if I want a thin crust, four minutes if I want a medium crust, and six minutes if it’s really thick. Then, I cover the pizza with toppings and return it to the oven, baking it until the top of the pizza is just starting to brown in spots, which usually takes about 16 minutes in our oven. I take it out, let it rest for maybe five minutes, and then slice it and serve. This pizza usually has a crisp bottom, and is breadlike on top if you’re aiming for a thick crust.

If you want, you can assemble the whole pizza in advance, even the night before. Just do everything except for the final bake, then put the pizza directly in the fridge, still on the pizza pan, covered in foil or plastic wrap. Pull the pizza out about half an hour before you want to bake it, if you can.

This pizza recipe turns out pretty great every time I make it. You can make the dough in advance or the full pizza in advance according to your needs.

So, what does it cost?

1 3/4 cups warm water – free, for all intents and purposes
1 Tbsp. extra virgin olive oil – $0.06, as a 750 mL container of olive oil can be bought for $5.99
2 tsp. kosher salt – $0.01, give or take, as a 26 oz. container of salt can be bought for $0.89.
1 1/2 tsp. dry yeast – $0.20 to $0.35, depending on the yeast brand and quantity
1 1/2 tsp. granulated sugar – $0.01, as I can find it for $0.72 per pound
4 1/4 cups flour – $0.40, as this is about 1.25 lbs. of flour and I can buy all purpose flour in a 25 pound bag for $7.76.

The total cost of the dough for a very large 16″ pizza is about $0.70.

What about the toppings? It’s going to vary widely depending on what you buy.

For pizza sauce, you can mix a 6 oz. can of tomato paste, a 15 oz. can of tomato sauce, and whatever seasonings you like to taste (oregano, garlic powder, onion powder, salt, pepper, and basil will cover it; you only need 1/2 tsp of each, but you can add more if you like more flavor). The total cost of ample sauce for the pizza is less than a dollar, based on prices from my local grocer.

For cheese, I strongly recommend buying a solid piece of the cheese you prefer and grating it yourself. Not only does it taste better, it’s usually cheaper, though you should always check the prices. My estimate is that I use two cups of shredded cheese on one of those 16″ pizzas, which ends up costing about $2.

So, for a 16 inch homemade cheese pizza, the total price is about $0.70 for the crust, $1 for the sauce, and $2 for the cheese, or $3.70. This would be a large or extra large pizza at most places, and you can easily make a thick crust version of this to make it super filling.

Additional toppings – whatever you desire – are going to cost more. We usually have one cheese pizza and then one pizza with additional toppings, whether it’s pepperoni or sun dried tomatoes or a mix of things. Let’s say those extra toppings cost $2. In that case, our two large pizzas, huge enough to feed a family of five both for dinner and for lunch the next day, costs about $9.40 to make. Yes, it might cost a little more than that depending on your toppings, your cheese quantity, and so on, but that’s roughly what it costs us.

In my town, I could not get anything approaching that quantity of pizza for less than $25. If I were to go to a neighboring town and try to get pizza I liked as well as my homemade, I’d be spending at least $35 (two pizza joints I really like pop into my mind, and I think the cheaper of the two would get me to an equivalent of my homemade pizza for $35).

Thus, by my math, I’m saving somewhere around $20 by making my homemade pizza versus buying pizza from somewhere else every single “pizza and movie night.” My homemade pizza usually generates more leftovers because it’s more filling, but I’ll still call it a wash.

Here’s the truth: Unless there’s a scheduling reason why I can’t make homemade pizza, that’s going to be our option for pizza night. It tastes so much better and costs so much less than the pizza available near us.

If you regularly have a “pizza night” at home, try making pizza yourself using this recipe. It’s pretty easy to do and is far cheaper than buying it elsewhere. One of these pizzas will easily feed two hungry adults and generate a lot of leftovers for future meals.

Good luck!

Read more by Trent Hamm: 

• How to Reduce the Urge to Eat Out
• Using What’s Already in Your Pantry to Make Amazing ‘Free’ Meals
• 10 Inexpensive and Quick Ways to Liven Up Cooking at Home

The post Saving Money with Homemade Pizza and Family Movie Night appeared first on The Simple Dollar.

Source The Simple Dollar https://ift.tt/2tWzgWv

Here’s How to Start Saving Money — Even If You Don’t Have Room in Your Budget

Should you remortgage before Brexit?

Brexit is just around the corner and while it is impossible to predict exactly what will happen, the impact on interest rates is a concern for mortgage holders.

Interest rate rise

The Bank of England raised interest rates in August 2018 for the second time in 10 years to 0.75%. It has hinted that interest rates could go even higher if the UK manages a smooth exit from the European Union, while its forecasts suggest rates could rise to 1.5% over the next three years. 

A lot will depend on the nature of Brexit and the impact on the economy of the departure from the EU. While it is difficult to predict if there will be a rate rise, most experts agree that if the interest rate goes up it will be gradual.

Should you fix?

Remortgaging also allows you to lock in to a fixed rate that can protect you from any rises in the interest rate.

If the Bank of England raises interest rates, there is a good chance you could see your monthly mortgage payments go up if you are on a variable rate mortgage. While fixed-rate mortgages tend to be more expensive, they can provide you with security against a rate rise. By fixing, you can keep your repayments the same so that any future rate changes won’t catch you off-guard.

Could a 10-year fix help Brexit-proof your mortgage? If you are worried about Brexit, taking out a long-term mortgage could give you peace of mind regarding a possible rise in interest rates.

Plenty of good deals

Financial information website Moneyfacts shows that the number of 10-year fixed-rate mortgages has gone up from 16 to 150 over the past five years, while the average rate fell from 4.61% to 3.05%.

For borrowers with a 40% deposit, there are plenty of good deals available.

TSB has a 10-year fix at 2.29% for a 60% LTV, although it comes with a fee of £995.

Coventry Building Society will let you fix your mortgage at 2.35% for 10 years and lend up to 65% of the value of the property. However, it comes with a fee of £999.  

David Hollingworth, mortgage expert at broker London & Country, says: “It’s possible to fix for as long as 10 years and rates are attractive. That would see the homeowner lock in their interest rate at what is a low rate and give them long-term peace of mind.”

However, he warns that fixed rates will typically tie the borrower in with hefty redemption penalties – the fees charged by a lender if you repay a loan earlier than the agreed term – during the fixed-rate period.

He adds: “It can make sense to lock in only for what is a foreseeable timeline. A long-term fix may work well for those who know they are staying put for the long run, but many people will be attracted by deals that fit in with their timelines more appropriately. “As a result, five-year fixed rates have been more popular but still offer medium-term security rather than the shorter-term rates.”

FEATURED PRODUCT

TSB 10-year fixed-rate mortgage 2.29%

TSB’s 10-year fix comes with a rate of 2.29% for buyers with a 60% LTV

Based on a £100,000 mortgage repaid over 15 years on a £200,000 property, this mortgage costs £662 a month – £7,909 per year over the fixed period – with no fees and £300 cashback.

Section

• Home & mortgage
• Mortgages

Free Tag

• Moneywise Best Buys
• mortgages
• property

Twitter

Workflow

Published

Source Moneywise https://ift.tt/2tThMKP

Kick-start your children’s savings

Help younger members of the family build a nest egg for their future with a Junior Isa

Individual savings accounts aren’t just for adults. A Junior Isa (Jisa) can also be a great way to save for children or grandchildren without the worry of tax eating away at their returns.

In the current tax year (2019/20), you can pay a maximum of £4,368 into a Jisa (up from £4,260 last year) without paying any tax on its growth.

Another plus for parents is that the money cannot be accessed until their 18th birthday. Of course, you won’t be able to guarantee how they will spend it once they do get their hands on it, but the fact they haven’t been able to dip into it does at least mean it has had the chance to grow into a meaningful sum.

The Isa itself is just a ‘wrapper’ that protects your savings from tax and, as with the adult equivalent, you will still need to decide whether to go for a Cash or Stocks and Shares account.

In 2017/18, 70% of all Jisas taken out were cash. Unlike most savings accounts, rates on cash Jisas are pretty impressive. At the top of the table, Coventry Building Society pays 3.6%. However, Sarah Coles, personal finance analyst at Hargreaves Lansdown says parents shouldn’t rule out a Stocks and Shares Jisa.“Parents can struggle to take a risk when it comes to their children’s savings. However, the biggest risk for a long-term investment isn’t the short-term ups and downs of the stock market, over an 18-year period there is a decent chance of riding those out. The biggest risk is actually inflation.

“Take a Cash Jisa paying 2.5%. If we look at the seven calendar years since Jisas were launched, it would only have beaten inflation in three of them, so for most of the time the money you had put away would have lost value once inflation was taken into account.”

She adds: “A Stocks and Shares Jisa actually involves less risk than parents think because over 18 years it has far more potential to outstrip inflation. 

“If you were to invest £50 a month from birth in a Stocks and Shares Jisa, and get a typical return of 5%, you could end up with a lump sum of £17,460. If you put it in a cash Jisa paying 2.5%, you could get £13,622 – £3,838 less. Even if you saved into the Cash Jisa currently offering the highest rate of 3.6%, you would still end up with £15,164 –or £2,296 less.”

Moira O’Neill head of personal finance at interactive investor (Moneywise’s parent company), says parents must consider fees and charges when selecting a platform but says that some – including ii - offer free Jisas if their parents already have an account.

She adds: “Our investors are generally investing in the same funds and trusts for their children as they do for themselves, with the perennially popular Fundsmith Equity and Scottish Mortgage IT making up the top two investments for junior Isas – both of which top the respective most bought funds and trusts tables for our adult accounts.”

Once the account is opened, Ms O’Neill says it’s also worth letting other family members know.

“Can grandparents contribute too? If you all agree to put a small amount of money into a child’s Junior Isa every Christmas and birthday, this could amount to thousands of pounds over their childhood,” she adds.

Moneywise Childrens Savings Awards 2019

Best Junior Isa (Cash):
Coventry Building Society, pays 3.6%, minimum investment £1. Accepts transfers in.

Best Junior Isa (Stocks and Shares):
Hargreaves Lansdown. Invest from £25 a month into a choice of 2,500-plus funds, shares, investment trusts and ETFs (exchange-traded funds). Platform fee: 0.45%.

Section

• Investing for children

Free Tag

• JISA

Twitter

Workflow

Published

Source Moneywise https://ift.tt/2VHkSgI

"I have lost over £40,000 so far and had to sell my house": Moneywise hears from women affected by the state pension age change

On International Women’s Day, Moneywise publishes some of the letters we received from women affected by the state pension age changes

Moneywise recently published a feature article on the effect of state pension age changes for women. The response was extraordinary, with well over a hundred writing to us to express their dismay at the changes, the way the government has handled the process, and the way they have been treated.

Thank you to all those who wrote to us, from women affected, to their husbands and children.

In 1995, the government announced plans to increase women’s state pension age from 60 to 65 in line with men’s. As a result, many women in their early 60s now are facing financial hardship. For more on the issue, read our piece on the changes.

Below, we’ve published a selection of those letters, to hear more from how these women have been affected.

Have you been affected by the state pension age changes for women? We'd like to hear your story. Please email editorial@moneywise.co.uk

Jan Neate – “The increase should have been phased in gradually”

I worked continually for over 45 years before stopping in 2017 to take early retirement due to stress and anxiety caused by my high-powered job.

I was never informed of the government’s proposals and now have to wait until I’m 66 to receive my pension. 

I have lost over £40,000 so far and at the moment I am living off savings after selling my house.

I feel cheated and betrayed. I grew up expecting to get my pension at 60 and the huge jump to 66 is simply too long to wait.

I never claimed anything and always worked - only taking a few months off when my son was born. The increase should have been phased in gradually and not handled in the uncaring way that it was.

Grace Cory – “I would like to know what has happened to all of my money”

I was born in 1954 and have paid 40 years of contributions. With little likelihood of getting another job after being made redundant in 2013 I decided to care for my mother.

I had a small private pension (£40 a month) and carer’s allowance to live on for the next three years, but then my mother passed away.

I have suffered from chronic migraines and fibromyalgia for 25 years but was unable to get ESA or any other benefit. My only option was to sell my house and buy a park home. 

I feel so let down by the government and I would like to know what has happened to all of my money they have taken since I was 17. It sounds like fraud to me.

Beverley Mitchell – “I was unaware of the increase until my sister told me”

I was unaware of the increase in the state pension until my sister told me she would be one of the last women to be able to retire at 60 as promised.

Unfortunately, I had to take early retirement of around £350 a month after having a spinal operation which left me with health issues. I have received no support from the benefit system except help towards my rent and council tax and I am living below the poverty line.

I feel myself and many more women have been dreadfully treated. I would not have minded the delay of 18 months as promised by the government, but a delay of six years is disgraceful.

Louise Swanston – “The government is desperate to save money”

The government is desperate to save money and is using women born in the 1950s to their own ends.

I’m 64 and I have to wait until I'm nearly 66 before I receive a penny from the state, even though all my Class 3 National Insurance contributions have been long-since paid.

I have always been in favour of equalising the state pension age and was willing to accept the first hike proposed in 1995. However, the further twist of the knife in 2011 was the last straw.

Women of my age have spent all their lives often working part-time because of family commitments and/or being paid considerably less than their male counterparts. Our generation has been woefully discriminated against by the state and should in my view be entitled to compensation in respect of the decision made in 2011.

Yvonne Crozier – “I was 57 when I first heard”

I was 57 when I first heard I wouldn't receive my state pension when I was 60. This was far too late to plan for my retirement and I had already made arrangements to look after my grandchildren.

My generation worked hard, brought up a family, looked after parents and there was no alternative to full-time work when I was younger.

I paid into the system for over 40 years and I have nothing to show for it in the way of a pension.

Sue Morris – “Shafted, short-changed, dismissed and overlooked”

I feel robbed and cheated out of more than just money. We have been treated with contempt and arrogance by those in power and who are all financially in a privileged situation.

Surely it must be recognised that women of this era were never in a position to save and build a pension, most being the homemaker and child carer.

Have 1950s women been shafted, short-changed, dismissed and overlooked? The answer is most definitely YES.

Sue Hird – “I do not recall receiving any information”

I can honestly say that I do not recall receiving any information from the government.

I am finding it increasingly hard financially with soaring food costs and utility price increases.

I have worked 40 years full time only having maternity leave for my daughter and a period of part-time for one year.

I have very little in the way of savings and they are disappearing fast on day-to day-living. I feel saddened and cheated by not receiving my pension at age 60 and feel that women born in the 50s should be in some way recompensed - even perhaps receiving a one-off lump sum payment.

I believe that the result for Waspi and Backto60 women will be found favourable by the High Court and that the government will be held responsible for maladministration.

Carol Archer – “Listen to the voices of so many hard-working women”

It’s disgusting how the government pulled the rug from beneath us. We were not notified. No letter, nothing in the media, it just happened.

I now have to continue working until the age of 66, which will give me less time to spend time with grandchildren. To have the goalposts moved at the last minute for women that have worked all our lives is barbaric. We are tired.

Hopefully this government will listen to the voices of so many hard-working women now in their 60s and pay us what is owed.

Lesley Edwards “I don't know how I am going to manage”

I will be 64 this summer and I work two 12-hour night shifts on Saturday and Sunday. I do this to make sure I can still look after my grandchildren after school and care for my mum who is 88. Although I work, it is not enough to pay all the bills and so I rely on universal credit which I feel awful about.

I have poor health and just don't know how I am going to manage another two years. I have been working since I was 15 years-old and I feel very let down.

Francesca Birch – “I have to find work or claim universal credit”

Like many other women of my age I received no notification letter to warn me I would have to wait another six years for my pension and now I face a bleak situation.

I have failing health, no other assets and have to continue to find work or claim universal credit. After a lifetime of work and supporting society at my own expense, this is what we 50s women now have to face.

I support WASPI and all similar campaign groups but this and previous governments have robbed me of my pension, my health and sanity.

Joan Davison – “We brought up families, cared for aging relatives and paid our taxes”

I was promised a state pension on reaching the age of 60 and my financial arrangements have always been based around this. Now aged 61 I continue to work two shifts a week as a nurse in a busy accident and emergency department with no prospects of a state pension until I reach 66.

Whilst I am fortunate enough to receive a small pension from the NHS this is based on part-time work and in no way covers the shortfall in income that I would be left with if I decided to retire now.

I have been left with no time to prepare for these changes and I feel cheated and robbed after having paid my dues to the state pension scheme all my working life.

Who will listen to we ladies who have brought up families, cared for aging relatives and paid our taxes? The answer I fear is no one.

Liz Pearcy “I should be enjoying retirement but feel I won't even live that long”

I always expected to get my state pension at 60.  I’m 63 I have another three years to work in a low paid job, five days a week plus two weekends a month to make ends meet.

I am single and have no other income. At present I am struggling with rotator cuff injuries of both shoulders, awaiting surgery and have already had joint replacement on both hands because of osteoarthritis - to enable me to continue to work.

Why can't the government allow older people to retire and get younger job seekers to take our jobs? I should be enjoying my retirement but feel I won't even live that long - which is obviously also part of the plan. We have been robbed of our pensions and our well-earned freedom - a shocking crime against a generation of women.

Section

• Pensions
• Income in retirement

Free Tag

• women
• pensions

Twitter

Workflow

Published

Source Moneywise https://ift.tt/2TBV6x2