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الجمعة، 19 مايو 2017

How I Paid Off $28K in Student Loans in 3 Years While Making $30K a Year

A character in the Shopaholic series from Sophie Kinsella tells the main character, who’s up to her eyeballs in credit card debt, she can either spend less or make more money.

Most people try to spend less. So many financial books and blogs (even mine) focus on cutting your expenses. But the biggest thing I realized while paying off my debt was that spending less wasn’t enough.

If you’re only making $28,000 a year, you can only cut so much before you reach your breaking point. That’s when the amount of money you could save becomes less valuable than what you’re buying with it.

If You Can’t Spend Less, Make More Money

I was paying $550 a month for my apartment, I was driving six hours every weekend to see my boyfriend (and paying $300 for gas) and I was contributing $250 to my savings account every month, trying to build up an emergency fund.

At one point, when I was going on vacation for 10 days, I called my Internet provider and asked if I could disconnect the service while I was out. At that time, I was putting $10 extra a month toward my debt, which was enough to knock off one year’s worth of payments. But paying off my student loans in nine years versus 10 wasn’t enough.

That’s when I realized that spending less couldn’t be my only plan. I had to find a way to make more money.

Due to my schedule, a part-time job was out of the question. I was working as a journalist, and the random hours of my job made it impossible to find a second gig.

I decided to start putting any extra money toward my loans. When I visited my grandma and she handed me a check, I added it to my monthly student loan payment. If I had a freelance gig, I put all that money toward my loans. If I got a hefty tax refund, I put that toward my loans.

To keep myself from going crazy, I usually kept about 10% of everything I earned and used that as a small splurge. That way, I could still celebrate without forgetting my goal.

Get a Raise? Put It Toward Your Debt

A year after my first job, I moved to the city where my boyfriend lived. My new gig came with a slight pay increase, and I no longer had to fill up a tank of gas every week. I added my new savings toward my loans and suddenly I was more than doubling my monthly payment.

It was at that point that I wanted to see how quickly I could pay off my debt. If $10 a month shaved off a whole year, how much would $400 do? I set myself a goal of paying off my student loans within three years of graduation.

When my lease ended, I moved in with my boyfriend and a mutual friend. Having roommates for the first time since college meant even lower living expenses. We chose a cheap duplex, and my rent only cost 14% of my take-home pay. You can probably guess where I put the rest of my money.

While I was paying off my loans, I also found other ways to save. I clipped coupons and bought items on sale, I discovered Goodwill and other thrift stores and I always researched an item before I bought it.

A little more than a year after that move, I made my last student loan payment — three years after my first.

How Much You Make Matters Less Than What You Do With It

Throughout this journey, I learned that how much you make doesn’t matter as what you do with it. I know people who make double than I do that have more debt and fewer savings. I know people who make more who travel less. I know people who live on six figures and feel broke.

Even though I still have yet to make much more than $30,000, I don’t feel poor. I can buy everything I need and most things that I want.

Make the most of your salary by figuring out what truly makes you happy and how to save money on the rest. I love to travel, so I don’t scimp there. I use credit card bonuses to buy flights at a discount, and I stay at Airbnb to save money. Traveling is expensive, but I’d rather go to a new country than buy nice purses or hit up the bars. So I skip those.

No matter how much I earn, I still have habits that I developed over the last three years to carry me through.

Disclosure: We have a serious Taco Bell addiction around here. The affiliate links in this post help us order off the dollar menu. Thanks for your support!

Zina Kumok writes about paying off $28,000 worth of student loans in three years at Debt Free After Three. She has been featured in DailyWorth, LifeHacker and Time.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

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Ofcom plans ‘text to switch’ for mobile phone users

Adam Williams

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Mobile phone users will soon be able to switch providers more easily under new proposals published by Ofcom.

The telecoms regulator says consumers often find it difficult to change between providers due to the complicated process involved. It says around 2.5 million people have experienced an issue when moving between mobile providers - 38% of all switchers.

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Want to Quit Your Job and Stay Home With the Kids? Here’s Your Road Map

Leaving my job to stay home with my kids was one of the best — but most challenging — decisions I’ve ever made, and I’m not alone.

The number of households with a stay-at-home parent has increased by 6% in the past few years, partially due to the influx of freelancing and work at home jobs, according to the Pew Research Center.

If you’re interested in becoming a stay-at-home mom or dad but you’re worried about how to survive financially, know that it is possible to make it work. The key is to have a strong understanding of your expenses and to prepare for making the switch by following the steps below.

Know Your Timeline and Make a Plan

I knew I wanted to stay home with my kids before I was even ready to start my family. I actively followed bloggers who worked from home and raised their children, and to me, it was the perfect lifestyle. Because my husband was still a student, I knew if I wanted to stay at home, I had to work from home to make it work financially.

For about a year before I got pregnant and all through my pregnancy, I worked on the side building a blog and freelance writing business. By the time I had my kids, I was ready to work from home on my own terms.

You and your family might have a different timeline and variables. Some of you will not have to work from home because your spouse can financially support your family. For others, simply cutting back on some basic expenses will allow enough wiggle room in the budget to make it work.

If you know you want to stay home with your child, I would advise you to start planning as soon as you’re ready to grow your family. If you know you want to have children in the near future, sit down with your partner to discuss how much money you will need to make it happen.

Talk about different variables and what would happen if you moved to a less expensive area or cut back on cable and other extra expenses. Do the math over and over again to help you set a goal that works for you and your family — whether it’s having a certain amount of money stashed away or building a side business to a specific level.

When you’re ready to start a family, you could get pregnant right away or it could take a while. However, having a goal in mind is crucial. If you start working on your plan before you’re pregnant and save throughout your pregnancy, you should be able to find a way to quit your job and stay home with your baby for the long haul.

Set Up an Emergency Fund

The next step is simple: Commit to setting up an emergency fund.

Setting aside this money is a great way to prepare for rough financial months or unexpected expenses. When your family depends on one income, an emergency fund is the perfect backup plan to help you avoid going into debt or falling behind on your bills.

A great way to start your emergency fund is to declutter and purge your home, selling excess items online and in garage sales. Most people own several hundred dollars’ worth of items they don’t need.

Once you jump-start the fund by selling your clutter, slowly cut back on eating out or other entertainment spending until you’ve saved up three months’ worth of expenses. That might sound like a lot, but you can get there.

Pay Off Debt

Saving money is important when you’re planning to stay at home, but paying off debt should be high on your list, too. The more debt you pay off, the more wiggle room you will have in your budget when you become a one-income family.

You can pay off debt using many different methods, so choose the one that works best for your family.

I like the snowball method because most of us deal with money more emotionally than mathematically. If I pay off a small debt first, I get excited and motivated to pay off the next one, even if it’s bigger. If I try to tackle a huge debt first, it’s easy to give up.

You don’t have to pay off every one of your debts before you become a stay-at-home parent, but the more you can pay off, the better. Even paying off a few smaller debts can free up a few hundred dollars a month, which could mean the difference between successfully being able to afford staying at home or not.

It’s also important to try not to take on any new debt. For example, my husband and I both drove very old cars with over 200,000 miles on them. Even though we wanted to drive newer cars, doing so would have affected my ability to stay home. That’s just one example of a trade-off or choice you might have to make to be able to be a stay-at-home parent; they will be different for every family.

Create a New Budget, Then Test It

It’s time to put your plan into action: Plan a budget around only the working parent’s take-home salary.

Sit down with your partner and work together to decide what you might need to cut out to make it possible for your family to live on that single income. You can use popular budgeting apps like Every Dollar or Mint, or even a simple spreadsheet.

Allocate every dollar of that single income to a budget category, such as debt repayment or entertainment.

Many people like to follow guidelines such as the 50/20/30 budget, which means you use 50% of your income for essentials, 20% for saving and 30% for personal use. I think 30% is a little high for personal or fun use, but I’m also committed to paying off my debt as quickly as possible. Do your research and find a budgeting system that works best for you.

Then, take a month (or two!) to test your new budget before you quit your job. Although you don’t have to stick to that single salary yet, pretend as if you do.

If your bills are a little too high to live off of one parent’s income, it’s time to start looking at how to cut expenses. Typically, the fastest way to reduce your costs is to stop eating at restaurants and replace your cable service with Netflix or Hulu (especially if you can get Netflix for free). These two changes alone could save you a few hundred dollars a month.

The best case scenario is that during the months you test out living on one income, you can save the other parent’s income and use that money as a cushion for when you finally make the switch.

Consider Working From Home

As I mentioned, the main reason I was able to stay at home with my kids is because I built a blog and freelance writing business which helped supplement our income. Plus, working from home is more popular than ever, and can be a great way to bring in a little extra cash while you raise your kids.

So many opportunities exist for stay-at-home parents, whether you find a work-from-home job or start your own business. You just have to find what works for you. Here’s how I manage raising my twins and running my business from home.

Adjust Your Plan as Needed

I know from experience that even if you take the time to plan, life tends to happen. There will be unexpected expenses, emergencies and more.

The good news is that as long as you have a solid savings cushion, you can tweak and adjust your budget as needed.

This lifestyle isn’t one-size-fits-all, and what works for one family may not work for yours. Going from the corporate world to being a stay-at-home parent can be scary, but having a plan in place can give you a little peace of mind.

Taking the step to stay home with my kids has fulfilled me in ways I never dreamed possible. If you want to do the same, I hope it does for you, too.

Catherine Alford is an award-winning family finance expert and financial writer who lives in Detroit, Michigan, and blogs at CatherineAlford.com. When she is not working, she enjoys yoga and spending time with her 3-year-old boy/girl twins.

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Buy to let still popular among Moneywise users despite tax hikes

Helen Knapman

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Three in 10 (32%) buy to let landlords have kept all their rental properties and plan to do so for now, according to the results of a new Moneywise poll.

We asked users whether they’d changed their mind on buy to let as a result of recent unfavourable tax changes, which include:

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Deal of the Week: get £20 Thorpe Park tickets when you register to vote

Adam Williams

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If you’re aged between 18 and 24 you can get £20 tickets to Thorpe Park when you register to vote in the upcoming general election.

What’s the deal exactly?

The next UK general election takes place on Thursday 8 June and Surrey theme park Thorpe Park is offering discounted £20 tickets to young people who have registered to vote.

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Your Grocery Store’s Best-Kept Secret for Saving Money: The Salad Bar

One day, I needed some bacon for a recipe – but I didn’t have time to fry it myself.

In a pinch, I scoured the grocery store’s salad bar and saw chopped bacon bits. I put about 1/3 cup into a small container, and was surprised when the bacon rang up for 34 cents.

Thirty-four cents! That’s a lot cheaper than buying a package of bacon.

And it’s much easier, too. The bacon was already cooked and ready to use. No hassle, no mess!

Before you head to your local supermarket to stock up, there are a few things you should know to help you make the most of the salad bar.

What to Buy — and What to Avoid — at the Salad Bar

Before your first trip around the salad bar, it’s important to know which items are cheaper and which are more expensive than when you buy them off the shelf.

Here’s what Food Network Magazine recommends:

Best Deals at the Salad Bar

1. Blue cheese: 57% cheaper

2. Bacon bits: 55% cheaper

3. Grilled chicken breast: 44% cheaper

4. Walnuts: 19% cheaper

5. Ham: 14% cheaper

6. Shredded cheddar cheese: 14% cheaper

7. Dried cranberries: 11% cheaper

Items to Buy Elsewhere

Not everything’s a good deal. Here are food items to limit or avoid because they are more expensive when purchased from the salad bar:

Grape tomatoes: 13% more expensive

Avocado: 31% more expensive

Broccoli: 50% more expensive

Carrots: 50% more expensive

Chow mein noodles: 50% more expensive

Sunflower seeds: 63% more expensive

Black olives: 78% more expensive

Croutons: 87% more expensive

Celery: 150% more expensive

Hard-boiled eggs: 167% more expensive

Mandarin oranges: 188% more expensive

Mushrooms: 200% more expensive

Green beans: 201% more expensive

Cucumbers: 274% more expensive

Radishes: 302% more expensive

Chickpeas: 368% more expensive

However, these percentages won’t always hold true. Salad bars at grocery stores can vary widely in price. I’ve seen salad bar prices as low as $5.99 per pound and as high as $8.99 per pound.

If your local grocery store is on the lower end, consider yourself lucky and feel free to indulge. Or do your own comparison between the price at the salad bar and the price on the shelf!

When to Try Salad Bar Ingredients

If I need an ingredient for a particular recipe and know I won’t use an entire package, I will purchase a small amount from the salad bar instead.

Here are some practical ideas using lower-cost items from the salad bar:

Purchase shredded cheddar cheese to top four burgers:

$1.99 for 4 ounces of shredded cheddar from the supermarket

$1.76 for 4 ounces of shredded cheddar from the salad bar at $6.99/pound

Purchase walnuts to add to homemade granola:

$2.32 for 2 ounces of walnuts from the supermarket

$0.88 for 2 ounces of walnuts from the salad bar at $6.99/pound

Purchase blue cheese to put on top of a salad

$2.24 for 2 ounces of blue cheese from the supermarket

$0.88 for 2 ounces of blue cheese from the salad bar at $6.99/pound

Again, prices vary. You’ll want to carefully consider how much a particular item would cost if purchased individually to determine if it’s a better deal on the salad bar.

Consider Weight

If you’re trying to figure out if the item you’re buying is a good deal, consider its weight. Cooked pasta, for example, is heavy, so it’ll cost you more at the salad bar, where you’re charged by weight. It’s usually cheaper to buy dried pasta and make it at home.

Hard-boiled eggs are another heavy item that can cost much, much more at the salad bar than it would to make yourself.

You’ll want to avoid buying salad dressings off of the salad bar. A 16-ounce container of ranch dressing at the grocery store costs $4.99, and purchasing 16 ounces of ranch dressing from the salad bar could cost nearly twice as much.

Take Advantage of Unusual Ingredients

You’ll be surprised at the items you can find on the salad bar: sun-dried tomatoes, feta cheese, roasted garlic, shrimp, pomegranate arils – the list goes on and on.

If you need a small amount of an “unusual” ingredient, check the salad bar before purchasing an entire container.

I often purchase roasted garlic from the salad bar to add to pizza, scrambled eggs or hummus. Roasting garlic in the oven takes a long time and thus a lot of energy, so purchasing it from the salad bar is a no-brainer for me.

Consider Price per Pound

What’s considered a good deal when it comes to price per pound?

$5.99 per pound is very affordable, and $8.99 per pound is on the higher end. My local Whole Foods is $8.99 per pound, so I try to avoid purchasing too much there unless it’s a hard-to-find item.

The salad bar at another local grocery store is $6.99 per pound, and is my go-to for a variety of grocery items.

On your next trip to the grocery store, take a swing by the salad bar. Once you start using it to supplement your grocery shopping, you’ll never go back!

Your Turn: Are you a grocery store salad bar shopper? Please share your tips and tricks in the comments section below.

Haley Nelson writes Cheap Recipe Blog, which features budget-friendly recipes and money-saving tips. She’s been using the grocery store salad bar since 2010 — long before it was cool.

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Rental round-up: cheaper to rent than to buy in London

Hannah Nemeth

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Research by property portal Zoopla suggests it is cheaper to rent than to buy a property in over half (54%) of UK cities.

This comes on the back of rental market reports that show that rents are rising at a slower pace, with London’s tenants finding rents fairly static and, according to HomeLet’s research, falling for the first time in over seven years.

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الخميس، 18 مايو 2017

Estonia's e-Residency Gives Brexit Businesses a Way to Stay in the EU

Post-Brexit, applications for Estonia's e-Residency program have risen dramatically. Learn more about e-Residency at HowStuffWorks.

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'Epi-pen' bill signed into law

HARRISBURG — School bus drivers and crossing guards, often the first person entrusted with a child's care on a school day, will now be able to administer a life-saving medication without fear of liability. Governor Wolf signed Act 2 on Tuesday, which provides civil immunity to school bus drivers and crossing guards who administer an epinephrine auto-injector, or epi-pen, to a student having an allergic reaction, Representative Justin Simmons (Lehigh/Montgomery/Northampton) said [...]

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Estonia's e-Residency Gives Brexit Businesses a Way to Stay in the EU

Post-Brexit, applications for Estonia's e-Residency program have risen dramatically. Learn more about e-Residency at HowStuffWorks.

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Smithfield Township icon resigns

A longtime public figure in Smithfield Township has stepped down from office. Former State Rep. John Siptroth resigned as township auditor effective May 2.“I would have completed my first term this coming January,” he said. “If I weren’t moving to Florida, I probably would have run again.”Siptroth plans to leave for the sunshine state sometime this week. He has yet to determine whether his departure from politics will be permanent. [...]

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Business briefs, Friday, Mary 19, 2017

Laz Scapes receives media awardLaz Scapes of East Stroudsburg has been named a recipient of the 2017 Best of HomeAdvisor Award. Laz Scapes has been part of HomeAdvisor’s network since 2013. Prior to joining the HomeAdvisor network, all service providers are subject to a comprehensive screening. Upon successfully passing the screening, professionals are given a HomeAdvisor seal of approval to display to their customers.Award recipients [...]

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Smitfield Township icon resigns

Mother's Day contest winners named

Tanya Corvo and Desiree Stynes have been named the grand-prize winners of this year's Mom & Me Look-Alike Contest. The mother-daughter duo take home a jewelry set from Liztech Jewelry (valued at $250), a 55 minute Swedish massage from Bodyworks Spa Studios (valued at $105), and a $30 gift certificate to Sonia's Sweet Inspirations. Honorable mentions include first runner up Melanie McGarry, who has won a 45 minute Intense Cleanse Facial from Bodyworks Spa Studios (valued at $108) and a [...]

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Mount Airy slots soar

Mount Airy led all but one Pennsylvania casino in April slots growth with a 41 percent gain in revenues.The casino brought in $4.9 million in gross revenues, compared with $3.5 million in April 2016, according to figures released Tuesday by the Pennsylvania Gaming Control Board.Slots at the state’s 12 casinos were up more than 10 percent for the month, generating $79.5 million compared with $72.2 million a year ago.April had five weekends this year, accounting for [...]

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Google Just Announced a New Job Search Tool — and It Sounds Pretty Cool

Google might be your new go-to job-hunting site.

That’s right: the minds behind the scarily accurate and infamously algorithmic search engine that helps you locate a “sugar-free high-fat banana muffin recipe” (or any other piece of conceivable information in this universe) with ease will now help you find your next job.

The company is rolling out a new tool, called Google for Jobs, that will allow you to search jobs across the internet in one move — just by typing a query into the search bar.

Simplifying the Process

An important feature of Google for Jobs, and one that is decidedly absent from many other job search sites, is its ability to pull job openings in the retail and service industries (along with other non-office positions) — something that job hunters had to seek out singularly before now.

While announcing the tool at the company’s developer conference on Wednesday, Google CEO Sundar Pichai said the goal is “to better connect employers and job seekers,” which the company plans to do by making a broader range of job openings more readily visible.

The folks at Google believe there is a code to be cracked when it comes to matching job seekers to available positions, and they’re determined to find the formula that will make the job hunt less complex.

Redefining the Job Hunt

But even with (or, really, because of) its broader scope, the revolutionary job search engine will still return refined and fairly pinpointed results.

Google for Jobs will allow you to narrow your search with a series of filters. Job seekers can start with a general search term, such as “retail jobs,” before sorting by full-time or part-time, category, title or the date the job was posted.

Google will also be adding an option to narrow your search by commute time. (Because honestly, who among us enjoys sitting in rush-hour traffic?)

Pinchai emphasized that Google for Jobs is not aiming to clobber the job-hunting software market but to enhance it. The company actually partnered with several of the sites you’re probably already using, including Glassdoor and LinkedIn, in an attempt to create a brand-new job-hunting experience.

Google for Jobs will be launching over the next several weeks, and we’ll be back to update you with new information that may help you with your own job search.

Grace Schweizer is a junior writer at The Penny Hoarder.

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Summer Hiring is on the Rise. Use This Opportunity to Jumpstart Your Career

If you hope to land a seasonal job this summer, you better be putting in your applications now.

CareerBuilder surveyed more than 2,500 employers across the country, and about a third (34%) say they’ll complete their hiring for summer jobs this month.

Nearly as many have already finished hiring for the season, but 20% plan to complete their summer hiring in June. So if you’re late to the game, it’s time to dust off your resume ASAP.

Hiring for Summer Jobs is on the Rise

CareerBuilder’s survey says 41% of employers plan to fill seasonal roles this summer compared to 29% last year.

These jobs include your typical summer positions. Nearly half of employers in the hospitality industry and about a third of retail employers said they’d be hiring seasonal workers.

An increase in summer tourism may be why a significant chunk of employers in these cities reported they’d be filling seasonal roles: Miami (66%), New York (58%), Washington D.C. (46%) and Los Angeles (45%).

But other industries are hiring seasonal workers too. Twenty-seven percent of employers plan to fill engineering positions this summer and the same amount say they’ll be hiring IT professionals. And 11% plan to hire new employees in the banking industry.

About four out of five employers will be paying their summer employees at least $10 an hour, and 19% say they’ll pay $20 an hour or more.

More Than Just a Temporary Role

Summer jobs are great for students or members of the gig economy, but they can also be used as a stepping stone for new grads or someone changing careers to gain experience and get their foot in the door at a coveted company where they hope to work on a more permanent basis.

According to CareerBuilder’s survey, 79% of employers hiring this summer say they will consider seasonal workers for permanent positions — up from 76% last year. So use your time at these seasonal jobs to make it count.

Rosemary Haefner, CareerBuilder’s chief human resources officer, recommends that summer hires don’t treat their position as if it’s just a temporary gig.

“You should view it as an extended job interview,” she said. “This is an opportunity for the company to get to know you, to show them what you bring to their organization and to show how you can become a valuable asset.”

Where to Find These Jobs

You all know the saying: it’s not what you know, it’s who you know. Don’t be shy about tapping into your network to land your summer gig. According to CareerBuilder’s survey, 34% of employers plan to hire a friend, 30% will hire a family member and 19% will employ their child.

Here at The Penny Hoarder, we’re constantly looking for great job opportunities to share with you — seasonal or not. Like The Penny Hoarder Jobs on Facebook to stay in the loop!

Nicole Dow is a staff writer at The Penny Hoarder. She once snagged a recurring summer job due to a family connection. She also had a summer internship that turned into a great freelance gig years later.

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Get Free SiruisXM for 2 Weeks Without Any Headaches (or Sales Calls)

Whether you’re a NPR kind of girl or a smooth jazz guy, your driving listening just got more exciting — at least for the next couple weeks.

Between now and May 30, your inactive satellite radio is back on, and you’ve got access to 100 free channels ranging from pop to news and politics.

This limited-time freebie is part of SiriusXM’s Road Happy campaign, and there are no strings attached. Just turn on your SiriusXM radio and listen all you want for the next two weeks.

Here’s the Best Part of SiriusXM Free Trial

If you choose not to sign up for the service, you don’t have to opt out. Your service will stop automatically.

That means you (hopefully) won’t get stuck dodging the endless series of calls from the sales people over at SiriusXM once your two weeks are over. (They are persistent!)

So bask in the free music — then either sign up or don’t.

Desiree Stennett (@desi_stennett) is a staff writer at The Penny Hoarder. For her, it was far easier to quit SiriusXM after the trial than it was to quit Spotify so she thinks this deal is safe.

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Can A Credit Card Actually Help You Save?

Most people don’t know there’s a really simple way to free up more money for savings — and it doesn’t require making huge lifestyle sacrifices. The trick is to stop throwing money away on interest payments.

Credit card companies are offering really favorable terms on balance transfers right now. Take the Discover it® 18 Month Balance Transfer Offer. It gives you an 18-month 0% intro APR period — one of the longest out there.

If you have decent credit, now’s the best time to put it to work for savings. Bring your credit card interest costs down to zero when you transfer a balance to a new 0% intro APR offer. From there, each payment you make goes directly toward paying down your debt, and not monthly interest. To pay off a $10,000 balance, that would mean savings of $1,000+ in interest in just a year and a half. That’s a nice chunk of cash you can put toward savings instead.

The secret to saving more money is mostly just being smarter about how you spend your money. Cutting out interest payments is one of the easiest (and most painless!) ways to do this. To get you started saving, here’s a simple head-to-head comparison of two of the best balance transfer cards available today.

Discover it® 18 Month Balance Transfer Offer

The Discover it® 18 Month Balance Transfer Offer has the longest 0% intro APR of our top-ranked balance transfer cards. This card also delivers big on cash back rewards for all of the new purchases you make with the card. Earn 5% cash back on quarterly rotating categories, plus 1% cashback on everything else year-round.

But that’s not all. Discover also doubles the cash back you earn during your first year as a cardholder. That means if you earn $200 in cashback, you’ll get another $200 on top of that — that’s $400 total cash back in one year. The more cash back you earn in your first year, the bigger your year-end cash back bonus.

Pros: You get an extra-long 0% Intro APR that lasts 18 months, plus earn 5% cash back on new purchases in rotating categories.

Con: You must pay a balance transfer fee of 3% of your transfer amount or $5, whichever is greater.

Discover it® - 18 Month Balance Transfer Offer

Apply Now

Intro Balance Transfer APR: 0% for 18 months

Balance Transfer Fee: 3%

Regular APR: 11.74% – 23.74% Variable

Highlights Card Highlights Provided by Discover:

You could turn $200 into $400 with Cashback Match™. Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
Earn 5% cash back in rotating categories each quarter like gas stations, Amazon.com, restaurants, wholesale clubs and more, up to the quarterly maximum each time you activate. Plus, 1% cash back on all other purchases.
Redeem your cash back for any amount, any time. Cash rewards never expire.
100% U.S. based customer service.
Get your FICO® Credit Score for free on monthly statements, on mobile and online.
No annual fee.
Click "APPLY NOW" to see rates, rewards, FICO® Credit Score terms, Cashback Match™ details & other information.

More info

Chase Slate®

Want to avoid the fees associated with a balance transfer? Go with the Chase Slate®. With this card, you can cut out interest payments and transfer your balance for FREE (as long as you do it within the first 60 days of opening the card). The Chase Slate® also has an extended 0% intro APR of 15 months, which means no interest payments until Fall 2018.

Pros: Pay no balance transfer fee (if made within 60 days of account opening), plus get 0% Intro APR for 15 months.

Con: You can’t transfer a balance from another Chase card. Additionally, this card doesn’t include access to a rewards program. If you already have a rewards credit card, we recommend making new purchases on that card — and using the Chase Slate® solely as a debt-elimination tool!

Chase Slate®

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Intro Balance Transfer APR: 0% for 15 months

Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.

Regular APR: 15.74% - 24.49% Variable

Highlights

$0 Introductory balance transfer fee for transfers made during the first 60 days of account opening
0% Introductory APR for 15 months on purchases and balance transfers
Monthly FICO® Score and Credit Dashboard for free
No Penalty APR – Paying late won't raise your interest rate (APR). All other account pricing and terms apply
$0 Annual Fee

More info

One thing to keep in mind is that most card issuers won’t allow you to transfer a balance from one of their cards to another (from Chase Freedom® to Chase Slate®, for example). That’s why it pays to know what the best offers are. You’ll maximize your balance transfer savings this way and figure out which card will actually work best for your personal situation.

The Discover it® 18 Month Balance Transfer Offer has the best deal with its extra-long 0% intro APR period, and the Chase Slate® lets you transfer your balances for free during the first 60 days–a huge benefit for savings. You can also check out our full list of the Best Balance Transfer Credit Cards for 2017 to compare other great offers — and find the one that fits your needs best.

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