Category Archives: MoneyConnect

6 techniques to live rent-free in a city that is expensive. Have you ever cringed at how much you’re spending money on rent?

6 techniques to live rent-free in a city that is expensive. Have you ever cringed at how much you’re spending money on rent? Or felt like you couldn’t move to somewhere like New York, la or San Francisco because of leasing costs?

1. Trade your skills

In the place of forking over a hefty chunk of change for rent, you may be in a position to trade your abilities 100% free accommodations. Elizabeth Aldrich, a 27-year-old freelance writer and founder of Temporary Provisions, currently lives rent-free in New York City in exchange for assisting the owners out with various projects.

‘I’m residing in a house in nyc that is clearly a subway that is 10-minute from downtown Manhattan. I have an exclusive bedroom (she says though I share the house with several other roommates), pay no rent or utilities, have access to a stocked kitchen and receive a small stipend each week for additional food and drinks.

In return, Elizabeth works 25 hours each week helping the owners of the house with writing, digital advertising and pet sitting. To augment her income, she works as a freelance writer.

Elizabeth enjoys being able to cut down her living costs and partake in slow travel, living in places for a few months at a time.

‘It’s a solution that is good temporary living because the places are furnished and everything is ready to go,’ she says. Nevertheless, while trading your abilities 100% free lease is a great way to keep costs down in expensive cities, there are several drawbacks.

‘The cons are that you do not have an area of your own, so you don’t have free rein over how a location looks or what you are able to do with or in it,’ she says.

In addition, it could be difficult to fit in extra work on top of any work-trade commitments. For Elizabeth, the pros outweigh the cons and allow her to pursue her dream of long-lasting travel. Throughout the past year, she’s resided for free near the beaches of Costa Rica as well as in Atlanta.

To secure her residing arrangements, Elizabeth has used housesitting web site MindMyHouse.com and work trade web site WorkAway.info.

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2. Work on a hostel

A year ago, I came across Weimin Chen while staying in a hostel in Lisbon. There, he i’d like to in on their ultimate travel hack — residing rent-free by working during the hostel part-time.

Seven months ago, the storyteller that is 24-year-old Funboat Diplomacy relocated to one regarding the many expensive towns and cities in the U.S. — San Francisco. As opposed to deciding on a traditional living arrangement and likely paying a high price, Weimin decided to carry on working at a hostel in return for free rooms.

‘In an expensive town like San Francisco, you’ll feel a bit smug that you live rent-free because it’s a true hack of this established order of things,’ he says.

Working at a hostel has not just given him the chance to live rent-free, but has also helped him grow personally and expertly. ‘[The work] calls for coordination that is much compromise and responsibility. It is a great place to develop a array of competencies,’ he says.

Weimin in the office. Image provided by Weimin Chen.

As for living conditions, he likens it to dorm life, where you share an available room with others, and cleaning is just a group effort. Weimin works three eight-hour shifts per week and is absolve to do as he pleases the rest of that time period. In his free time, he works for delivery service DoorDash in order to make extra cash, which he can work around their versatile schedule.

‘Since you’re a volunteer, your manager or supervisor can be much more flexible in scheduling and work hours than other jobs that are conventional’ he says.

The downside of this variety of living arrangement? The possible lack of privacy. ‘There is extremely little privacy, but it becomes a norm eventually — if not right from the beginning,’ he says.

If you’re interested in this arrangement, consider contacting a hostel that is local inquire about any work-trade possibilities. Weimin suggests making an impression that is good being social with visitors and developing a enjoyable community for them. Once you will get your first gig, he claims it’s easier to get more opportunities, as prior hostel experience could help grab a manager’s attention.

He states, ‘People work tough jobs to scrounge together sufficient money for rent in most of these cities, but in a work exchange [at a hostel], you do a work where you meet amazing people and go on unforgettable adventures while having a submit shaping your liveable space.’

3. Become a pet sitter/house sitter

Another way city dwellers can reduce their living costs is by working being a full-time pet sitter or house sitter. Of course, this arrangement will likely need you to constantly think about your step that is next it will be possible.

I have a friend who worked as a full-time animal sitter/house sitter for a year. She had no address of her very own and went from destination to place, looking after dogs, cats and plants.

You can find opportunities on Rover.com, ReliableHouseSitters.com, Care.com and MindMyHouse.com. The key is to keep your profile up-to-date and get reviews that are positive your consumers. Referrals are everything!

If you’re open to changing locations every couple of days or weeks, this may be described as a great solution to live for free in an expensive city. Just be certain to enjoy a close friend to crash with in the event that you’re in between gigs, and set up a P.O. box.

4. Act as a live-in nanny

Can you love getting together with kids? By working being a live-in nanny, you could get the very best of both worlds: meaningful work with young ones and rent that is free. Live-in nannies typically get to call home in the family’s house for free, while also getting taken care of their work.

The drawback: It’s often a commitment that is full-time which means that it might be difficult to produce a separation between your work and your life. But maybe it’s a good fit if you discover the right family.

To find live-in nanny opportunities, you can check out Care.com or Indeed.com. You may be able to act as a live-in nanny with just about any degree, though a background in education could help. A love for children is a must, as well as a patient personality and a flexible schedule in order to work as a live-in nanny.

5. Get hired as being a property manager

Some apartment complexes have live-in property managers that are in control of managing any problems with tenants, working with contractors and everything that is ensuring running smoothly. In trade for working on-site at a building, property managers could get free rent.

But work hours may be long. There can be night time calls or emergencies you have to deal with, and also you may have limited flexibility in your schedule, as you’re regarded as the on-call person to deal with tenants’ needs.

If you’re handy with repairs, good with people and arranged, this may be a way that is great live rent-free while having a spot to your self. You can contact property that is local organizations and look on Indeed.com.

6. Be a resident assistant on campus

If you are in college and wish to lower your expenses, one method to cut expenses while likely to school is to work as a resident assistant, or RA. Being an RA, you could get free space and board in exchange for supporting dorm residents, planning activities and being the go-to individual should any dilemmas arise.

Being an RA typically calls for dedication of 10 to 20 hours per week, but could be more time-consuming depending on the problems that arise.

Of course this will often mean working more than you’re out partying. But it is actually a way that is useful lower expenses — and help you are taking out less student education loans.

Can an employer check my credit history?

Yes and no

The short answer is no, credit bureaus do not share your credit score with employers. At the mercy of restrictions in state law, employers may, however, ask to see your credit report. When your information is requested, credit agencies will send more than a variation of your credit report implied specifically for employers. Which means that they will not see quite everything that a loan provider can see, for example, with the biggest difference being the absence of your credit score.

Regulations on access

Use of your credit report is governed by the Fair Credit Reporting Act, which sets the limitations on when and by who your credit information may be accessed. The FCRA sets a few restrictions particularly on employers that are using credit reports to screen job that is new.

First, your employer must get the permission before checking your credit history, with limited exceptions. No consent, no access to your information, though it’s of course well worth considering what a refusal on your part would imply to a feasible boss. In addition, if the potential employer decides not to hire you in relation to the report, they must make provision for you a copy of the report before taking an adverse action (like denying you the employment opportunity) for you to review yourself. This measure is supposed to protect consumers from possibly errors that are life-affecting their reports, and to give the applicant a chance to deal with and correct those errors.

Some state governments have also increased regulations on credit background checks by employers beyond the Fair Credit Reporting Act. As of 2013, 10 states have taken action to ban or limit company usage of credit reports, based on the nationwide Conference of State Legislatures, and other states have actually legislated regulations of their particular. For example, California legislation generally requires companies to provide you the chance to obtain a copy that is free of credit report they request.

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Just What companies look for

We’ve currently established that employers cannot access your credit score, so what are they in search of exactly? Generally in most instances, the answer to why employers want to get into your credit report at all is quite simple: they are looking to lessen their danger.

Many employers only look at credit reports to protect themselves against actions that violate ethical standards or behavior that is criminal. A history of negative public record information or other derogatory marks could indicate to employers that the applicant has a record of untrustworthiness or unsavory behavior. Specifically for positions that command a lot of responsibility, like government work or medical jobs, or even for jobs that need access to company funds, employers may be on the lookout for these types of negative indications.

Beyond the signs of illegal activity, your credit report can also tip off employers to a lack that is general of. A credit report completely free from belated re payments and derogatory markings can suggest to a manager you have the financial readiness and general obligation it will take to handle the career in question.

Things it is possible to do

Whilst having a credit check in the job application may feel like a tension-filled cherry on top of your stress-soaked sundae, it isn’t all doom and gloom.

Besides growing regulation that limits this practice, credit checks also be seemingly declining in popularity amongst employers themselves. The Society of Human Resource Management, for one, reports that credit checks are becoming a ‘disfavored device’ for employers and suggests that, because of regulation and decreasing legitimate payday loans online no credit check interest, this type of background check ‘could potentially fade away from the hiring landscape.’

One other bright side is that you aren’t helpless in this equation. In the event that you’re planning on entering the job search, sign up for credit monitoring to make sure that no unexpected changes slip by and look over your credit history to make sure you have handle on what’s being reported now. Simply like every other aspect of the application form process, make sure you come in prepared, anticipate any possible problems before they happen and reap the rewards of your financial responsibility.

4 strategies to prepare an affordable summer time getaway

Are you irritation for a summer holiday but deterred by how much money in your money?

While summer time getaways can get pricey, you can find ways you are able to lower expenses and maybe even earn some cash return.

Here are four means you can maximize your savings and plan an affordable vacation.

  1. Automate your savings
  2. Make the most of credit card rewards
  3. Go in which the discounts are
  4. Look for approaches to save cash on big-ticket items

1. Automate your savings

One of the better how to save for your vacation is to automatically transfer funds from your checking account up to a savings that are separate every time you get compensated.

It is possible to open a savings account entirely for the purpose of a vacation. I take advantage of Capital One 360, which allows you to produce savings accounts that are numerous. The best component? You’ll name your accounts and set goals.

Get imaginative and present them names that will inspire you to definitely keep your eyes on the prize. For example, you could name your vacation-specific account ‘My much-needed break’ or ‘Italian fantasy.’

Another choice is saving with Ally Bank, an online family savings with what they claim is an increased interest price ‘than most cost savings reports.’ Searching for something different? You could try the goal-oriented savings platform, SmartyPig, a fee-free FDIC-insured online savings account that is held at BBVA Compass bank.

The key is to immediately transfer a portion every time you obtain paid therefore you have the money on hand to pay the vacation. Vacations might not be worth it for them, so start saving now if you go into debt. Simply make sure that you check always your accounts frequently to make certain you have sufficient money to cover most of your bills.

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2. Take advantage of credit card rewards

Want to cut back your overall costs for your trip? For free or low-cost travel or accommodations if you have any miles or points from credit card rewards, you may be able to redeem them.

I am in Venice, Italy, for dirt cheap as I write this, for example. What ended up being likely to be a $1,400 flight only cost me $159 and 40,000 United states Airlines kilometers.

Here’s how I made it happen: Once US Airways merged with American Airlines, they offered a rewards credit card with an annual fee of $89. After making one purchase (yes, one), you were granted 50,000 miles.

On American Airlines, you was once able to obtain a round-trip flight to Europe off-season (generally speaking to March) for only 40,000 miles november. Current changes in AA rewards have actually increased this amount to 45,000 kilometers.

Therefore with my miles, the $89 fee that is annual an extra $70 in charges and fees, I considerably paid down the price of my air travel.

While credit card rewards is a convenient way to dramatically lower the price of travel, it is necessary to keep in mind that that you do not want to spend more or go into debt just to make miles or points — that defeats the reason completely.

But if you are careful and pay your credit card in full each month, using credit card rewards can be outstanding way to decrease your costs.

3. Get where the deals are

Another key to an affordable summer vacation is being flexible about the location. Should youn’t have a particular location in mind, you can spend less by avoiding tourist traps and popular hubs that could cost plenty. Rather, consider going where the deals are.

‘One of the best ways to truly save on summer time travel is being open to traveling anywhere,’ states Nicole Ballantine, travel writer at Latitude + Avenue. ‘If you’re open-minded as it pertains to location, you are able to book a journey for a deal, and that can save yourself a whole lot of cash since airfare tends become the absolute most part that is expensive of trip.’

You need to use sites like Travelzoo.com, Skyscanner.com and Fly.com to look for the cheapest discounts in your neighborhood.

4. Look for ways to truly save cash on big-ticket items

From airfare and hotel stays to gas, food and more, going on vacation can quickly get expensive. Instead of focusing on cutting back tiny luxuries, concentrate on saving money on big-ticket items and cash that is getting for the purchases.

When booking airfare, rooms and more, make use of site like Ebates.com that provides cash-back rebates on particular purchases. Also, listed below are some tips to get the best deals on those purchases that are big.

Airfare

Consider traveling during off-peak times, such as overnight or at the beginning of the— and not on the weekends (if possible) morning.

‘Be nontraditional. Don’t travel on weekends. Depart for a or Wednesday and return on a Tuesday or Wednesday tuesday. Shifting times can save you at least 20%, as well as in summer time I’ve seen it up to 50%,’ says Clem Bason, CEO of goSeek.

Additionally assists to book your seats a few months in advance to make fully sure you get the price that is best. According to an annual airfare study by Cheapair.com, the very best time to book a domestic U.S. flight is 54 times in advance.

Their research additionally discovered that the best time to get worldwide flights can range anywhere from 70 times in advance to 320 days, depending on the location.

Additionally, it may also help to check on airlines’ social media marketing profiles for any deals that are additional.

Accommodations

Hotels can be expensive, so consider getting a personal room in a hostel. You can also consider Airbnb or even a true house exchange to cut costs.

Before scheduling, you should read reviews from other users regarding hostels that are potential Airbnb lodgings to obtain a better concept of where you are staying. You’ll be able to pose a question to your friends for recommendations on places or specific neighborhoods to stay in or avoid.

Food

Dining out three times a day is really a way that is surefire increase your expenses. Give consideration to going to the neighborhood grocery store to get some meals for breakfast and meal. When you yourself have access to a kitchen, you can even do yours cooking for a few meals. For local dining out deals in the U.S., look on deal-of-the-day sites like Groupon.com and LivingSocial.com.