millennialfinancing-blog

[millennialfinancing-blog]

Are “Money Earning Apps” Legitimate?

Ways to earn money online has transformed into ways to earn money from your phone in today’s world. There’s always a new app that offers a way to earn extra cash/gift cards from scanning receipts, taking surveys or from “checking in” to a store. But which apps are legitimate-- meaning which apps can you actually easily earn cash from without having to go through hoops. 

While most apps have redemption minimum requirements, there’s many apps that offer PayPal cash reward incentives and gift card rewards to Amazon, Starbucks, Best Buy, etc. There’s even apps that offer partial stock rewards for your everyday purchases. 

While most of these apps won’t earn you a second source of income, they do offer easy pocket change. This year, I’ve earned a little over $500 (in cash and gift cards) through such apps with little to no effort. As I navigate and test out various apps, I’ve written reviews on my experience and which are worth using. 

#Strategy #Passive Income #PassiveIncome #FinanceApp #Banking Basics

[millennialfinancing-blog]

My COVID lock-down 2020 Stock Picks

2020 has been a wild, volatile year in every aspect. A once-in-a-lifetime global pandemic has hit economies worldwide on every front, while oil prices hit new lows (thanks to an oil price war between Saudi Arabia and Russia). 

There’s been a lot of fear and instability, as the world shut down in attempts to manage the global pandemic outbreak (and is slowly starting to re-open). In doing so, businesses have been forced to close (some permanently), unemployment has skyrocketed, the stock market crashed and the future of the economy is utterly unpredictable. Whether you’re able to work from home, or you’re unemployed for the foreseeable future, now is the best time to invest and buy stocks wisely while they’re still low. Even if your income is tight or you’ve been furloughed, you may want to use some additional savings/a small portion of emergency funds to invest in a few stocks or pad your IRA just a little more than normal.

While it may seem crazy to invest right now when you might be tight on money, and the extreme volatility of the stock market at present, it’s also the best time to buy stocks at a discount that you may not normally be able to afford. 

That being said, do your due diligence, research the company, their outlook, and how much risk you’re willing to take. While stocks can gain the most, they also have the most risk. ETF’s and mutual funds are good investment alternatives if individual stocks are too risky for you. 

Below I’ve picked my top stocks that I’ll be closely monitoring and investing in:

Boston Properties Inc (BXP) - my top REIT choice that offers a dividend yield of 4.21%* and is the largest property developer concentrated in Boston, Los Angeles, New York, San Francisco and Washington, DC, with 196 properties. Real Estate will always be valuable, especially in those 5 cities where property demand won’t drastically drop any time soon due to the nature of the cities, schools, etc. 

Delta Airlines (DAL) - While airlines won’t exactly prosper anytime soon given the pandemic settings, they will bounce back eventually, travel will resume for pleasure and for business. Choosing the right airline to invest in is especially important, as there is a high chance of many airlines not being able to survive. I chose Delta by looking first at the major airlines, reviewing their connecting International partner airlines, and then taking a look at their financial positions.

TJ Maxx Co (TJX) - As a millennial, I realized during the pandemic that the one store every one was waiting for to re-open was TJ Maxx, which also owns Marshalls and Home Goods. Stores offering lower prices for ‘designer’ brands and that many people rely on for just about everything from home decor and furnishings, to clothing and makeup, to gifts and kitchenware. 

JP Morgan Chase (JPM) - Again, financial institutions don’t have great outlooks for the near future, however they will also eventually regain their footing. If they make the right investments during this time, are in a good financial place, and budget correctly, they may even come out better than before given the stock market has high potential and many possibilities to take advantage of at the moment. I also consider JP Morgan Chase to be one of the “too big to fail” finance institutions, and a leader in terms of using technology innovations to improve customer satisfaction and experience.

#Investing #Stocks #Generating #My Top Picks

[millennialfinancing-blog]

Reduce Home Energy Use

There’s a few simple, easy-to-do changes you can make to your daily living that will help reduce your energy usage, thereby lowering energy costs, and are helpful to the environment.

Besides buying energy-efficient/Energy-Star approved appliances, Arcadia energy has detailed a couple other ways to improve your home energy efficiency, eco-friendliness, and reduce your carbon footprint.

- Do your Laundry Correctly and Efficiently

Don’t Use Hot Water Settings, Use Tap/Cold water settings Using cold water helps in extending your clothing’s life by preventing shrinkage and doesn’t fade the colors, especially anything delicate, as warmer temperatures wear down fabrics and can damage more sensitive fabrics. You’ll save on the energy required to heat the water, and your laundry will come out just as clean since modern washers and detergents don’t require hot water to be effective anymore. [For more info: Consumer Reports]  Some washers have a setting for 'cold water’ and a separate ‘tap cold water’ setting. Use the ‘Tap Cold’ water setting, as the ‘cold water’ setting will heat the water to a certain temperature designated by the manufacturer. Use ‘cold water’ if you live in an area where the temperatures are below average (it’s snowing/frozen conditions outside).

It’s not necessary to sanitize your laundry unless there’s a contagion in your household or you’re cleaning cloth diapers, especially since the high sanitation heat levels will wear down fabrics/laundry of any type. However, should you want to sanitize your laundry: Using cold water doesn’t sanitize laundry, but neither does the hot water setting; you would need to use the washers ‘sanitize’ setting or add bleach (or a non-bleach laundry sanitizer additive) to your laundry. Additional reasons to use cold water settings instead of hot.

Do Laundry At Night Minimize your energy demand during peak hours of the day. This means that your local power generation facilities can run at a more efficient capacity, thus minimizing their environmental impact, and you may pay less for off-peak energy (depending on where you live and the type of electric meter your home is outfitted with)

Keep your Dryer’s Exhaust Clean Clean your dryer's exhaust chute with a lint removal kit every couple of months to improve the airflow through the exhaust duct. Smoother airflow means your dryer doesn't have to work as hard to blow the warm, wet air out, so your clothes will dry faster! 

Use Dryer Balls Using dryer balls can increase your dryer's efficiency and life span and reduce the time required to dry your clothes. As the dryer spins, these balls tumble between the clothes, maximizing the wet clothes' contact with the warm air pockets they create. Effectively, dryer balls 'fluff' your clothes as they spin, speeding up the drying process and eliminating the need for fabric softening dryer sheets.

A 6-pack of reusable, XL, organic dryer balls by Ecoigy costs $9, and replaces dryer sheets as they naturally soften laundry, as well as reduces static and wrinkles. On top of that, they’re eco-friendly, biodegradable, hypoallergenic, and fragrance free.

- Install Faucet Aerators

Heating water for homes is one of the most energy intensive processes. Equipping your kitchen and bathroom sinks with easy-to-install aerators that will minimize wasted water, and boost water pressure.

Replacing any bathroom faucet aerators that use 2.2 or more gallons per minute (GPM) with 0.5-1.0 GPM aerators can reduce a sink's water flow by 30 percent or more. This will significantly reduce the amount of water wasted while brushing your teeth or washing your hands. You'll also save energy whenever you use warm water!

- Run your Dishwasher Overnight

Running the dishwasher overnight is a great way to minimize energy demand during peak hours during the day. This means that your local power generation facilities can run at a more efficient capacity, thus minimizing their environmental impact. Depending on where you live and the type of electric meter your home is outfitted with, you may pay less for off-peak energy.

- Install Efficient Shower Heads

Energy and water efficient shower heads that use 5 gallons per minute (GPM) less than older models are available. Many reduced flow shower heads feature multiple spray settings, use just 1.5 GPM or less, and you'll significantly reduce the amount of energy your household uses to heat water. Even if heat and hot water are included in your rent, you're still helping the planet by reducing your energy demand.

- Lower your Home Hot Water Temperature

Heating water accounts for up to 15% of home energy use. Lowering the hot water temperature to 120 degrees is a no cost measure to help cut costs. (Don’t worry, you’ll still have plenty of hot water.)

Wrap Hot Water Pipes Insulating your hot water pipes reduces heat loss. It can also raise your water temperature 2-4 degrees Fahrenheit compared to uninsulated pipes. That means you won't have to wait for hot water when you turn on a sink or your shower and you'll be saving water and energy. 

Install a Hot Water Heater Timer If you don't usually find yourself showering regularly between midnight and 4AM (or any other set period during the day or night), you can cut your energy costs significantly by setting your hot water heater to shut down automatically for set periods with a hot water heater timer.

- Switch to High-Efficiency Toilets

Toilets account for nearly 30% of an average household’s water consumption (even more if they’re leaky), but High Efficiency Toilets (HETs) can help you reduce the amount of water - and money - that goes down the drain! HETs combine high efficiency with high performance, using 20% less water than standard 1.6 gallon-per-flush toilets while maintaining full flushing power. That means that they clear the bowl, leave it clean, and do not stop-up easily. Most local water utilities offer rebate programs for HET purchases, so be sure to check what incentives are available to make this easy upgrade even more affordable!

- Use Solar-Powered Lighting Outdoors

Solar powered accent lighting for walkways, gardens, and driveways are a reliable and affordable alternative to installing fully wired systems that will only add to your energy bills. Available in a wide variety of styles, these lights are highly weather resistant, feature a photosensitive element automatically turns them off when ambient lighting conditions no longer warrant artificial lighting, and in most cases the high-capacity rechargeable batteries they come equipped with will last for a full 12 hours of darkness!

- Adjust Temperature without using the Temp. Thermostat

Use Window Shades Keep shades drawn in south-facing rooms that aren't occupied on days when you're trying to keep your home cool. If you're trying to keep your home warm on cold days, be sure to keep your shades drawn in unoccupied north-facing rooms. They may be thin, but they minimize energy transfer between your home and the outdoors pretty well!

Use Ceiling Fans Ceiling fans effectively circulate the air in a room to create a "wind chill effect." If you use air conditioning, a ceiling fan will allow you to raise the thermostat setting about 4°F with no reduction in comfort. During moderately hot weather climates, ceiling fans may allow you to avoid using the AC altogether. Be sure to turn off ceiling fans when you leave a room.

Use Door Draft Guards If you have doors that have more than a 1/4" gap with the floor, draft guards are a cheap and practical way to keep heat from escaping rooms where you want it, and from getting in when you don't! Keeping a tight seal around doors and windows is one of the best ways to improve the energy efficiency of your home.

Keep your home Tightly Sealed Poorly sealed windows and doors can drastically decrease your home's energy efficiency. A small investment in caulking/weather stripping to fill in even the slightest gaps can make a huge difference; It also keeps out unwanted pests/bugs. 

#CutExpenses #EcoSavings #Strategy #Energy Saving #Eco Friendly #Lower Costs #Lower Living Expenses #Managing #Cutting Costs #Saving

[millennialfinancing-blog]

Ibotta App

A receipt-scanning app for cashback rewards mostly used for grocery shopping.

How It Works:

1. Sign Up Here 2. Continue grocery shopping as you normally would 3. Look through the app and “add offers”--cashback options for the things you purchased. 4. Save your receipts 5. Upload receipt pictures to app

My Experience:

Pros: -- occasional $0.10-$0.25 cashback on “any item” -- cashback offered on many common household items/groceries -- lots of additional cashback promos/bonuses -- Uber/Lyft cashback offers Cons: -- Must reach at least $20 to withdraw -- The any item cashback fluctuates -- Bonuses can sometimes be hard to meet if you don’t have ‘teammates’ -- cashback offers are often brand specific/hard to find -- must save paper receipts (no digital receipts to email)

Overall:

Definitely worth trying, depending on your grocery habits and whether you care about specific brands you buy. I’ve been a member for 2 years now, and have earned $464.51 cashback in total (not a bad amount). 

While it’s not a “must-download now” , the savings do add up, and it doesn’t take too much effort, other than saving receipts.

#MoneyApp #FinanceApp #Saving #LowerExpenses #Managing #Grocery Shopping

[millennialfinancing-blog]

Lower Living Expenses: DIY Disinfectant Wipes

With the COVID-19 pandemic changing our daily lives throughout the world right now, stores have run out and have to limit how much toilet paper and cleaning disinfectants each person can buy.

Cleaning and disinfectant wipes are a household staple, and can be costly to your wallet and to the environment. As each cleansing wipe is one-time use, they fill up landfills, and many people don’t take the time to recycle the packaging. However, while trying to find a way to be eco-friendly and sanitize my home (due to all stores near me being sold out of disinfecting wipes), I’ve found a cost-effective, and eco-friendly alternative to buying them. It does require a little DIY, but its very easy, and takes very little time (about 10 minutes), especially after you’ve created your initial batch.

All you’ll need is a glass jar (or re-purpose any container you have laying around with a sealed lid), washcloths (can also re-purpose old clothing, just be sure to throw it in the washer first), rubbing alcohol, dish soap, and essential oil (optional).

I easily go through at least 1 container of disinfecting wipes once a month from regular cleaning throughout my apartment (without a pandemic to worry about), and the cost seems minimal (about $7 for a 75-ct Clorox disinfecting wipes at CVS = about $85+tax yearly) but is actually a huge difference when compared to the costs to the DIY eco-friendly version which is about $18 yearly(~$3 eco-friendly dish soap, $2.59 for 32oz 91% rubbing alcohol=4cups) That’s almost a $70 starting difference (dish soap is often on sale, most already have dish soap at home, etc.) which I’m sure anyone of us would rather spend on a night out, makeup, etc. 

DIY Disinfectant Wipes

Materials: 

Clean Glass jar/container with sealing lid (so alcohol won’t evaporate)

10+ washcloths (however many will fit into your container/jar)-- may cut into whatever size you want your wipes to be. 

2 cups rubbing alcohol                     

2-3 tsp of dish soap (I prefer the Clorox Greenworks or Seventh Generation ones but any will do)

10 drops of an essential oil (you can pick one just for scent like lavender or one with potential anti-viral/bacterial properties as described below) 

Essential Oils with anti-viral/bacterial properties-- According to the American Journal of Essential Oils and Natural Products the following may have anti-viral/bacterial/fungal properties, but more research is needed.

Tea Tree Oil

Lemon

Eucalyptus Oil

Peppermint 

Rosemary

Thyme Leaf

a few others that can be found here

Instructions:

Clean/Disinfect glass jar/sealed container and washcloths.

Place the clean washcloths inside the jar/container.

In a separate bowl, thoroughly mix the rubbing alcohol, dish soap, and essential oil together.

Pour the cleaning mix into jar/container over the washcloths.

Put the lid on, and use cloths as needed. 

** After your rags are dirty, throw in the washing machine to re-use and re-make cleaning solution as needed! 

#CutExpenses #EcoSavings #Strategy #EcoFriendly #Eco Friendly #Lower Costs #Lower Living Costs

[millennialfinancing-blog]

Drop App

Rewards app for everyday shopping; no coupons, or receipt scanning required! 

How It Works:

1. Sign Up Here 2. Link your credit/debit cards 3. Choose your Power Offers 4. Redeem Points for gift cards 

My Experience:

Power Offers

Snake Bonus Points Game

Shop through the app

Pros: -- Easy points that can be redeemed for many gift cards including Amazon, Starbucks, Sephora, Whole Foods, Best Buy, American Airlines, Uber, West Elm, and many more. -- Many bonuses offered: Snake game, daily deals Cons: -- Many offers only activated/receive points for by shopping through a link within the app which is a little more effort to have to look for said link. -- Must accumulate $25 minimum

Overall:

Drop App has been undergoing quite a few changes recently, and still updating. However, it’s still a great easy way to earn additional rewards, and worth having. It does take a little longer to accumulate enough points to cash out, but it’s free spending money so no complaints here!

Download and Sign up through this link and receive a bonus $5!

#Managing #FinanceApp #MoneyApp #Saving

[millennialfinancing-blog]

TerraCycle

Between quarantine/social distancing, and Earth Day 2020, I’ve spent a vast majority of my unexpected free time deep cleaning. A full spring cleaning, sorting and organizing drawers, storage bins, and closet diving. While doing so, I wondered what I could do to recycle and reduce the amount of waste fill. Unknown to most is that many items that you think can easily be recycled, actually can’t and they end up ruining batches or still ending up in the landfill. Items such as vitamin bottles less than 2″ in diameter, makeup product containers/packaging, razors, etc. So I looked for a way to recycle all these household and life essentials.

Turns out, I found a super easy, and FREE way to not only recycle items that are usually unable to be recycled through curbside pickup, but can also earn points for recycling. While many recycling centers that specialize in these items have programs you subscribe to, they can be pretty expensive. Through TerraCycle, it’s not only free, but super easy and doesn’t require much effort other than setting up a collection system (but since we all have so much free time/boredom on our hands, why not try to help the earth a little and keep yourself busy).

TerraCycle offers many FREE recycling programs, to sign up, you’ll have to create an account with TerraCycle. After that, just sign up for the many diverse, sometimes changing free recycling programs, start collecting enough to fill a box, print a prepaid shipping label through TerraCycle, then mail off the recycling collection box! Some of the programs are brand-specific, so pay attention to what each program will accept.

As of this time (5/5/2020), they offer free recycling programs for the following common household/life essentials:

- contact lens recycling (the contact lens packaging and the lens itself! Collect a years supply) - snack bags - Febreze aerosol cans - Swiffer cleaning wipes/cloths - Hair and Beauty Products - Makeup/Beauty/Hair product packaging - Brand Specific (Josie Maran, Burt’s Bees, EOS, Acure Beauty, L’Occitane, Paula’s Choice. Rodan + Fields, Herbal Essences, Aether Beauty Co, Deciem, Living Proof Inc, Weleda, etc) - Air Freshener cartridges/packaging/plugs - Razors/razor blades - Cigarette waste (ash, extinguished cigarettes, cigarette filters, and inner foil packaging) - Dental Care Product Packaging (toothpaste tubes, floss containers, toothbrushes) - pouches/pouch bags from Barilla Ready Pasta, OxiClean and Arm & Hammer - Brita Filters - many more!

Some of these programs sometimes have waitlists, which is fine, sign up to be added, and start collecting  + saving those recyclables in the meantime!

Other FREE Recycling Mail-In programs to check out:

Recycle your old denim jeans AND get a discount Recycle OLD/BROKEN HEADPHONES and get a discount on new ones Recycle Wine corks (just be sure to collect a minimum of 5lbs or 500 corks) Mail-In Recycling Programs

Also, Best Buy and Staples have additional recycling programs for cords/charging cables, electronics, light bulbs, and batteries, etc. just check their website for details/participating locations.

#EcoSavings #cut expenses #eco friendly #eco savings #clean earth #environmentallyfriendly #sustainability

[millennialfinancing-blog]

Freebird App

Earn bonus points/cashback for using the rideshare apps, Uber or Lyft.

How It Works:

1. Sign Up Here 2. Link Uber/Lyft accounts 3. Link Credit Cards 4. Request Rideshares through Freebird 5. Cash out accumulated rewards

My Experience:

5000 points= $10, not a bad reward return rate considering the lowest reward amount offered per ride (that I’ve seen) is 250 points=$1. 

Pros: -- Easy and fast to accumulate rewards -- Can cash out any amount (points can only be redeemed in 5000 point increments) Cons: -- The app itself tends to be fairly glitchy, taking awhile to load/find a ride. -- You have to manually switch between which rideshare account you’re logged into and will use. -- Can’t call an UberPool with 2 passengers, only 1 passenger

Overall:

Is worth it when app is working and not acting up. Cash accumulates pretty quickly and easy withdrawal. Worth downloading/using if you’re not in a rush.

Download and sign up with this link to receive an extra $10!

#FinanceApp #MoneyApp #Saving #Managing #Generating #PassiveIncome #Passive Income

[millennialfinancing-blog]

Investing in: Stocks

 “Buy low, sell high” is the general goal when investing in stocks. While there are other aspects to keep in mind (tax efficiency, dividend yields, etc) the main focus should be on buying stocks at a low price, then selling them at a high. Keeping track of stocks and interpreting the stock market is a bit more upkeep, and time consuming than investing in a mutual fund, but the returns are potentially higher due to stocks not having expense ratio fees (but pay attention to any brokerage fees).

Stocks- a type of investment security that entitles the holder to a proportions of a companies assets and earnings. Also known as “shares, equity.”

When buying stocks, it’s important to do your research on the company/corporation, much like with mutual funds, there is a certain amount of due diligence that must be done, along with paying closer attention to the current events of the stock market, and the company’s movements. 

To invest in/buy stocks, you’ll need to have either a brokerage account, or an IRA (traditional or Roth) account. Ideally, stocks should be in a tax-advantaged account especially if its a high-yield dividend stock, but there’s no requirement that it has to. Be sure to keep in mind your end goals for the stock in question (Are you holding it long/short term? Does it have a high dividend yield? Stock forecast?) --- click for more information on tax efficiency

Stock Properties

So you’ve decided to navigate the riskier stock market (higher risk, higher reward). When choosing a company to invest in you’ll want to keep the following in mind: 52-week High/Low- the highest/lowest price per share within the last 52 weeks Dividend Yield- the amount of money a company pays shareholders (over the course of a year) for owning a share of its stock divided by its current stock price—displayed as a percentage.   P/E Ratio- Indicates how expensive a stock is. It shows how much investors are paying per dollar of profits. Target Price- the projected/forecasted, future price of an asset as stated by an analyst.

Below I’ve attached an Excel sheet that I use when comparing stocks and deciding which to invest in.

Stock Comparison Excel

#Investing #Stocks #Banking Basics

[millennialfinancing-blog]

Maintain a Home Inventory

Create a home inventory list of any “big ticket” items you buy/own. This list should include laptops, speakers, computers, phones, tvs, etc. Making sure to take note of any warranty details, price you paid for it, receipt copies, item specifications (product/serial numbers, generation, memory, speed, etc). Should you decide to eventually re-sell an item (such as an old laptop) note the sold price, any selling fees, receipts etc. 

While this may seem like a lot of work and documentation it is important; it makes re-selling it easy without having to find all the product specifications, and it will help with taxes eventually (esp if you sell on ebay and receive a form 1099-K from PayPal). Why is all this information necessary? So that should you decide to eventually re-sell it, you can easily get an estimate value, and should you eventually be audited by the IRS for your ebay sellings/PayPal Payments, you have proof that you weren’t selling as a business or with the intention of making money/for profit.

#Taxes #Strategy

[millennialfinancing-blog]

Achievement App

An app that rewards you for being health-conscious and for how much you walk/exercise.

How It Works:

1. Download and create Achievement account 2. Connect/Sync various accounts: Give Achievement access to your Apple Health, Fitbit, RunKeeper, Twitter, and other various health/fitness/wellness accounts 3. Accumulate Points for making healthy choices

My Experience:

I’ve only given access to my Fitbit and Apple Health accounts as those happen to be the only 2 apps I use that is partnered with Achievement. I’m awarded points for logs made into Fitbit, and for how much walking I do as tracked by the Apple Health app. Once I’ve reached 10,000 points, $10 is deposited into my PayPal! Super easy and motivating by bribery to make healthy decisions, walk more, exercise more etc. 

The app can be a little glitchy, meaning I’ve found it best to be sure to open the app daily or every few days to refresh it and manually sync the accounts, as Achievement doesn’t always successfully sync automatically. It take less than a minute to sync the apps, so I don’t mind especially since I simply refresh it when I’m on the train to work or browsing my phone. 

Pros: -- Cash rewards -- Easy point accumulation for making healthy choices -- Variety of apps for meditation, cardio, nutrition tracking, Sleep tracking, etc. Cons: -- A lot of 3rd party apps required -- App can be glitchy

Overall:

You’re not going to be making a ton off of this app unless you are super active and do use all the apps that Achievement can sync with. But you will make an easy $10 every few months depending on how much you walk around on a daily basis, on the weekends, if you use a Fitbit, etc. 

#Managing #Generating #Passive Income #PassiveIncome #MoneyApp #FinanceApp

[millennialfinancing-blog]

Pei App

Cash back rewards on your debit/credit card purchases in the form of PayPal, BitCoin, or Giftcards.

How It Works:

1. Sign Up Here  2. Connect/Link credit/debit cards 3. Accumulate Points that can be redeemed at anytime in the form of BitCoin cryptocurrency, or PayPal.

My Experience:

Download, Setup, and Forget. Great rewards with no effort other than the initial sign-up, afterwards you can check back every few months or however often you feel like it. Points accumulate at a fast-pace with cashback rewards currently at:             1% Starbucks/Uber/Lyft/Target/McDonalds             0.5% Walgreens/CVS/7 Eleven             1.2% Chipotle             1.5% Dunkin/Dominos             and many others...

Cashback boost bonuses allow you to earn cashback from anywhere for 48 hours once you’ve accumulated 20 Boost Points and you activate the boost. Boost points are awarded by performing certain specified actions. 

Pros -- Flexible reward options (PayPal or BitCoin) -- Super easy, never have to activate a link for reward points. Cons -- Limited number of Pei-Preferred merchants

Overall:

Definitely worth downloading, taking the time to set it up and then forgetting about it. Additional cashback offered on top of other rewards programs and cash rewards (ie. Not just giftcards). 

Download and signup with this link for an extra $2.50 sign-up bonus!

#FinanceApp #Passive Income #MoneyApp #Saving #Managing

[millennialfinancing-blog]

HOOCH App

Rewards app for traveling, dining and everyday purchases, that rewards you in giftcards or hotel/dining.

Advertised as a rewards app mainly for traveling and dining, also rewards you for spending with everyday brands like Starbucks, Uber, iTunes, Spotify, Shake Shack, Chipotle, and many others. 

How It Works:

1. Sign Up & Link Credit Cards: Sign up for your HOOCH/TAP account and link all your credit cards

2. Do NOTHING: Spend as you normally would, and watch your rewards grow; earning 1% back with various national brands, and 5% at HOOCH venues/hotels

3. Redeem Rewards: Once you’ve accumulated enough ($25 minimum usually), redeem your rewards in the form of a giftcard, or hotel rooms.

My Experience:

1% back doesn’t sound like much, or worth taking the time to connect each credit card, but it is worth the one-time effort as that 1% adds up over time, and is in addition to any of your credit card rewards programs and other rewards apps. I regularly earn rewards back for my purchases at Spotify, Uber, Shake Shack, Starbucks, and Chipotle. Other national brands include Netflix, Dominos, Redbox, Hulu,and In-N-Out.

HOOCH also offers 5% back when you dine at any of their dining partners or book a hotel at discounted rates through them.The only catch is that in terms of dining partners, they’re still limited to a select few cities: NYC, Austin, Dallas, LA, Hong Kong, Miami, San Diego, and San Francisco.

Pros -- 1% back at many national brands -- Wide selection of gift card options including (but not limited to): Amazon, Acorns, American Airlines, Best Buy, Delta Airlines, Verizon, Gilt, HomeGoods, Hulu, Marshalls, Sephora, Starbucks, Uber, and many, many more. Cons -- No Cash back option, gift card only

Overall:

Worth the download, once it’s all set up you can forget it’s even there, and check on your rewards balance every few months to see if you’ve accumulated enough for a giftcard. 

Get an extra $1 sign-up bonus by clicking on this link! 

#FinanceApp #Passive Income #MoneyApp #Saving #Managing

[millennialfinancing-blog]

Google Opinion Rewards

A simple, straight forward rewards survey mobile app created by Google.

How It Works:

1. Notification Alert: A notification will alert you when there’s a survey available for you, and a time frame for how long it is available.

2. Answer Survey: Answer survey questions

3. Payout: Each survey is paid varying amounts, and it doesn’t let you know how much until the survey has been completed, but from my experience it usually ranges between $0.10-$0.50. Once you’ve accumulated a minimum of $2 rewards, it’s automatically paid out to your PayPal Account.

My Experience:

This has to be one of the easiest “survey” apps created. Normally when I’ve tried survey apps they tend to be long and tedious, and being told that I didn’t qualify for a survey more often than not which is frustrating and more effort than it’s worth. 

With Google Opinion however, I’ve found that they only alert you when a survey is available to you meaning there’s no qualifying out of it and not being rewarded. Thank goodness. Next, each survey is usually no more than 3-5 questions long, and is usually composed of the following multiple-choice questions: 1. Have you visited any of the following recently? 2. How long ago did you visit place? 3. Did you make a purchase?

And that’s it. Wow. Super fast, short “survey” and doesn’t waste my time.

Through experience, I’ve realized that if I allow the app to have full access to my location, I get higher payouts per survey. When I had the location services disabled, I was given between $0.10-$0.20, versus allowing location services and now receiving between $0.20-$0.50 per survey. 

While the reward amounts don’t seem like much, it’s a very easy app you can do on the train, in a cab etc, in less than a minute. While it doesn’t offer a survey each day, they happen frequently enough to be worthwhile. I originally downloaded the app in August 2019, and its now mid-January 2020 and I’ve had 5 payouts totaling $10.63. For minimal effort and time, it paid me in cash via PayPal meaning that $10 just paid for my venti Starbucks, my monthly Spotify. 

You won’t make a fortune from this app, but if you’re a penny-pinching broke graduate with debt it helps with that morning coffee expense or monthly subscription.

Pros -- Easy, fast surveys- minimal effort -- Cash rewards (not giftcards!) Cons -- Limited survey number

Overall:

Definitely worth downloading, but don’t expect a huge impact.

#MoneyApp #FinanceApp #Saving #Generating #PassiveIncome #Passive Income

[millennialfinancing-blog]

Use Energy Star-Certified appliances

Your energy bills will be a necessary living expense throughout your life, and is comprised of your natural gas and electricity bills. 

While these bills are unavoidable, they can be minimized with a few energy saving tips, habits, and small investments. The best part about paying attention to energy-saving device options is that their more friendly to the environment, and help to reduce your carbon footprint-- your wallet and the earth will thank you!

Energy Star-Certified 

When buying household appliances, be sure to buy energy-star certified appliances whenever possible as these can lower your energy bills in the long-run and don’t usually cost too much more than other appliances. Appliances such as refrigerators, clothes washer/dryer machines, dishwashers, tv’s, microwaves, and even computers/laptops are running all day, using electricity, so investing in ones that are energy-efficient and that save energy will save you money in the long-term.

Appliances important to be aware of due to their heavy/constant energy use:

Refrigerators

Clothes washers/dryers

Dishwashers

Air Conditioners

Heating Appliances

Microwaves

Stovetops/Ovens

Laptops/ Computers

TV

Humidifiers

Energy-Efficient Appliances

While big ticket appliances (refrigerators, dishwashers. etc) are easily remembered when looking at energy efficiency, people forget about all the little appliances that also use electricity and use vampire energy even when not in use. Being aware of which electrical appliances you purchase can help reduce standby power (vampire energy) and lower your carbon footprint.

Small household items to be aware of for long-term savings:

LED light bulbs

Advanced Power Strips

Re-chargeable batteries

Nest Thermostats

Daily Habits

These small changes will make a difference in your bills and over the long run while being better for the environment. Separately, it probably doesn’t seem like much in terms of savings, but put all together, the savings do add up. 

#CutExpenses #EcoSavings #Strategy #Energy Saving #Eco Friendly #Managing

[millennialfinancing-blog]

Lower Living Expenses: Wifi Router

We can’t live without data and WiFi, both of which can get expensive. An easy way to cut down on WiFi bills that most people don’t realize is to invest in your own WiFi network

Investing in your own WiFi network easily means shaving $10+ off your monthly WiFi bill, increasing the performance and speed, and save you hundreds over the long-term. This can be done by simply purchasing your own advanced WiFi router, or building a mesh system that will increase not only performance, but coverage area.

Your WiFi's performance, coverage are, and speed is affected by more than just the internet speed plan you’ve subscribed to. Other factors include the number of devices that will be on the network simultaneously, how old the technology within the various devices is, the placement of the WiFi router system, and how advanced your WiFi system is.

Most rented WiFi router-modem systems provided by your ISP [Internet Service Provider] are junky outdated devices that make a difference in your networks performance and coverage. Instead of over-paying to rent one throughout your lifetime, it’s more cost-efficient to invest the $100-200 to buy your own.

Investing in your WiFi network can be done in two ways:

Building a Whole Home WiFi System

Building a Mesh WiFi System

Traditional vs Mesh WiFi Systems

The **traditional home WiFi network system** involves a WiFi router and modem. These can come as two separate devices or combined into one. They are often times bulky, unsightly, and involve a lot of cords, as such, most people set them up inside a closet or somewhere hidden. The coverage area can be extended by purchasing WiFi extenders

Mesh WiFi systems involve a network of router-like devices that help to extend your WiFi coverage. They’re much easier to set up and manage compared to WiFi extenders, and tend to be more modernistic and better looking than your traditional router.

My WiFi Router Recommendation

Currently, I live in an apartment rental with 2 other roommates. But as we’re all millennial's, we each have our own laptop, cellphone, iPad, etc. to connect to the WiFi network, provided by Verizon Fios. Instead of paying the monthly $10 WiFi router rental fee, I purchased the Google WiFi system which comes in a pack of 3 or just 1. Since I’m in an apartment, I started with just the 1 to test it out. Not only is the WiFi much more reliable than when we rented a router from Verizon, but it was very easy to install, and should I move or need more coverage, I can easily add another Google system.

As a millennial, I do think the Google WiFi system is the best investment router, especially for those who are hoping to buy a house in the future. They’re not too expensive with prices starting at $100 (the average cost of a router anyway and renting a router is about $120 per year already) but the option to buy just 1 device and expand as needed offers great, budget-friendly flexibility. The Google WiFi management is easy to use, and offers parental control, a guest WiFi access network separate from your personal network, and device management as additional features. 

A simple web search will bring up other WiFi router options based on your specific factors (# of devices, home size, etc.) and needs (if you’re more concerned with speed, or performance).

#Saving #Strategy #CutExpenses #Managing

[millennialfinancing-blog]

About Millennial Financing-- the Blog

This blog focuses on the various pathways in managing, saving and generating income as a Millennial in today’s society. Intended to educate today’s generation on being aware of one’s personal finances, and how to save for the future and in gaining financial freedom. Proving that anyone can start to save and make smarter investment choices and decisions, even as a broke college student just starting off, or as a new-graduate riddled with student debt.

Highlight the many steps we can take to enjoy our avocado toasts over brunch while still saving for the future.

Each post is written to fit within the following categories:

Banking Basics: The building blocks that make up finance that are important to understand when taking control of one’s finances. Highlighting important terminology, detailing the different account types, defining financial terms, and setting the foundation for building up one’s finance goals.

Investments: Choosing and Making Investments FAQ. From stocks, to bonds, to mutual funds, this category encompasses the various ways to start investing (even as a broke college student). From making conscious investment decisions to easy, passive ways to invest.

Passive Income: The ways in which one can start generating passive income that can be used to pay off debt, save for future expenses/purchase goals, or even in generating extra monthly income.

Finance Strategies: How to best optimize and grow your income, reduce debt, and reach financial freedom. Outlining ways to cut costs, reduce fees/taxes, and in optimizing your financial options/accounts.

Money-Apps: There’s an app for everything; not only are apps used for dating, ride-sharing and social media, but they can be used for savings and earnings throughout your everyday living expenses. Its easy-money that everyone can save and make from everyday purchases and activities. Distinguishing the ones that not only save you money, but are also efficient (so you’re not wasting your time). 

Eco-Friendly Savings: Various ways to support your bank account and reduce your carbon footprint, especially in today’s changing climate. Being eco-friendly, eco-conscious, and finance-savvy has never been easier.

Lowering Living Expenses: Tips on how to lower everyday living expenses immediately and over the long-term. Lower living expenses means extra money to pay off debt, save for that house, or even for that designer item or vacation you’ve been wanting.

#AboutMillennialFinancing #Millennial Financing #Saving Money #Investing Money #Millennial Finances #Millennial Spending #Millennial Things #Student Debt #Reducing Debt #Generating Income