Категории архива: MoneyConnect

06 Фев

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

6 techniques to live rent-free in a costly city. Have you ever cringed at how much you’re spending money on rent? Or felt like you couldn’t go to someplace like New York, Los Angeles or San Francisco because of leasing costs?

1. Trade your skills

As opposed to forking over a hefty chunk of change for rent, you may be able to trade your skills 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 return for helping the owners out with different projects.

‘I’m residing in a house in new york that’s a 10-minute subway ride from downtown Manhattan. I’ve a personal bedroom (though I share the house with several other roommates), spend no rent or resources, gain access to a stocked kitchen and receive a small stipend each week for additional food and drinks,’ she states.

In return, Elizabeth works 25 hours per week helping the owners associated with house with writing, digital marketing and pet sitting. To augment her income, she works as a freelance author.

Elizabeth enjoys having the ability to cut her living expenses down and partake in slow travel, residing in places for a few months at a time.

‘It’s a good solution for temporary living because the places are furnished and everything is ready to go,’ she says. However, while trading your abilities at no cost rent is a great way to keep costs down in expensive cities, there are some downsides.

‘The cons are so you don’t have free rein over how a place looks or what you can do with or in it,’ she says that you don’t have a space of your own.

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

To secure her arrangements that are living Elizabeth has used housesitting web site MindMyHouse.com and work change website WorkAway.info.

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2. Work at a hostel

A year ago, I met Weimin Chen while staying at a hostel in Lisbon. There, he let me in on their ultimate travel hack — living rent-free by working during the hostel part-time.

Seven months ago, the 24-year-old storyteller behind Funboat Diplomacy relocated to at least one associated with the most high priced towns in the U.S. — San Francisco. In the place of choosing a living that is traditional and likely paying a high price, Weimin decided to continue working at a hostel in exchange for free rooms.

‘In an expensive city like San Francisco, you can feel a bit smug you live rent-free because it’s a true hack of the established order of things,’ he claims.

Working at a hostel has not only given him the chance to live rent-free, but has also helped him grow personally and professionally. ‘[The job] calls for coordination that is much compromise and responsibility. It’s really a great spot to create a selection of competencies,’ he says.

Weimin at work. 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 team effort. Weimin works three eight-hour changes per and is free to do as he pleases the rest of the time week. In his free time, he works for distribution service DoorDash to make cash that is extra which he is able to work around their flexible schedule.

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

The downside of this style of residing arrangement? The lack of privacy. ‘There is very little privacy, but it becomes a norm eventually — if not right from the start,’ 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 get your first gig, he says it’s easier to obtain more opportunities, as previous hostel experience may help grab a manager’s attention.

He says, ‘People work tough jobs to scrounge money that is together enough rent in most of these towns and cities, but in a work exchange [at a hostel], you do a job where you meet amazing individuals and continue unforgettable adventures while having a submit shaping your living space.’

3. Become a pet sitter/house sitter

Another way town dwellers can reduce their living costs is through working as being a full-time animal sitter or house sitter. Of course, this arrangement will likely need you to constantly think of your step that is next it’s possible.

I have a friend who worked as a pet that is full-time sitter for a year. She had no target of her own and went from destination to place, looking after dogs, cats and plants.

You can find opportunities on Rover.com, TrustedHouseSitters.com, Care.com and MindMyHouse.com. The key is to keep your profile up-to-date and get good reviews from your clients. Referrals are everything!

If you should be open to changing locations every day or two or weeks, this may be considered a great solution to live for free in an expensive city. Just make sure to truly have a friend to crash with if you’re in between gigs, and set up a P.O. box.

4. Work as a nanny that is live-in

Do you love reaching kids? By working as being a live-in nanny, you could get the best of both worlds: meaningful work with children and rent that is free. Live-in nannies typically get to reside in the family’s home for free, while additionally getting paid for their work.

The drawback: It’s usually a full-time commitment, which means it might be difficult to create a separation in the middle of your work as well as your life. But maybe it’s a great fit if you find the family that is right.

To find live-in opportunities that are nanny you can check out Care.com or certainly.com. You may well be in a position to are a live-in nanny with nearly every degree, though a background in training 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 a home manager

Some apartment complexes have live-in property managers being in control of handling any issues with renters, working with contractors and everything that is ensuring running efficiently. As a swap for working on-site at a building, home supervisors could get rent that is free.

But work hours may be long. There are night that is late or emergencies you have to contend with, and you also may have limited flexibility in your schedule, while you’re regarded as the on-call person to handle renters’ needs.

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

6. Be a resident assistant on campus

If you are in college and want to lower your expenses, one way to cut costs while going to school is working being a assistant that is resident or RA. As an RA, you might get free space and board in exchange for supporting dorm residents, best payday loans planning activities and being the go-to individual should any dilemmas arise.

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

Of program this could easily often mean working more than you are out partying. But it might be a useful method to lower expenses — and help you are taking out less figuratively speaking.

Can an employer check my credit rating?

Yes and no

The answer that is short no, credit bureaus do not share your credit score with employers. Susceptible to restrictions in state legislation, employers may, however, ask to see your credit report. When your information is requested, credit bureaus will send over a variation of your credit report implied specifically for employers. This means that they don’t see quite precisely what a lender can see, for instance, with the biggest distinction being the absence of your credit rating.

Regulations on access

Access to your credit report is governed by the Fair Credit Reporting Act, which sets the limitations on whenever and by who your credit information is accessed. The FCRA sets a few restrictions specifically on employers who’re using credit reports to screen new job applicants.

First, your company must get your permission before checking your credit report, with limited exceptions. No consent, no access to your information, though it’s of course worth considering just what a refusal in your part would indicate to a feasible manager. In addition, if the potential employer chooses to not hire you based upon the report, they must definitely provide you a duplicate 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 potentially errors that are life-affecting their reports, and to give the applicant the possibility to deal with and correct those errors.

Beyond the Fair Credit Reporting Act, some state governments have also increased regulations on credit history checks by employers. As of 2013, 10 states took action to ban or restrict boss access to credit reports, based on the National Conference of State Legislatures, and other states have actually legislated laws of unique. For instance, Ca law generally calls for companies to offer you the chance to have a copy that is free of credit report they request.

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Just What companies look for

We’ve already established that employers cannot access your credit score, so what are they in search of exactly? The answer to why employers want to access your credit report at all is quite simple: they are looking to reduce their risk in most cases.

Many employers only look at credit reports to protect themselves against actions that violate ethical standards or behavior that is criminal. A brief history of negative public records or other derogatory marks could indicate to employers that the applicant has a record of untrustworthiness or behavior that is unsavory. Particularly for positions that command a great deal of responsibility, like government work or medical jobs, or for jobs that require access to company funds, employers are on the search for these kinds of negative indications.

Beyond the signs of illegal activity, your credit report can also tip off companies to a general lack of obligation. A credit report completely free from belated payments and derogatory marks can suggest to a boss it takes to handle the position in question that you have the financial maturity and general responsibility.

Things you can do

While having a credit check in the resume may feel like a cherry that is tension-filled top of your stress-soaked sundae, it is not all doom and gloom.

Besides growing legislation that limits this practice, credit checks also be seemingly declining in popularity amongst employers by themselves. The community of Human Resource Management, for one, reports that credit checks have become a ‘disfavored tool’ for employers and suggests that, because of regulation and decreasing interest, this kind of background check ‘could potentially vanish from the hiring landscape.’

The 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 ensure that no unforeseen changes slip by and look your credit report over to ensure that you have handle on what’s being reported now. Just like every other aspect of the application form process, make sure you come in prepared, anticipate any problems that are possible they happen and reap the rewards of your financial responsibility.

4 strategies to plan a summer vacation that is affordable

Are you itching for a summer holiday but deterred by the money in your bank account?

While summer getaways can get pricey, you will find ways you’ll lower expenses and maybe even earn some cash return.

Listed here are four ways you can optimize your savings and plan a vacation that is affordable.

  1. Automate your savings
  2. Make use of credit card rewards
  3. Get in which the deals are
  4. Look for how to save money on big-ticket items

1. Automate your cost savings

Among the best how to save for your vacation is to automatically transfer funds from your checking account up to a savings that are separate each time you have compensated.

A savings can be opened by you account solely with the aim of a vacation. I take advantage of Capital One 360, allowing you to produce many savings accounts. The most readily useful part? You can name your reports and set goals.

Get creative and provide them names that will inspire one to keep your eyes regarding the prize. For instance, you could name your vacation-specific account ‘My much-needed break’ or ‘Italian Dream.’

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

The key is to automatically transfer a percentage every time you will get paid so you have the bucks on hand to afford the vacation. Vacations may possibly not be worth it in the event that you go into debt for them, so start saving now. Simply make sure you have enough money to cover all of your bills that you check your accounts frequently to ensure.

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2. Make use of bank card rewards

Want to reduce your costs that are overall 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. Just What was supposed to be a $1,400 flight only cost me $159 and 40,000 United states Airlines kilometers.

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

On American Airlines, you used to be able to have a round-trip flight to Europe off-season (generally speaking November to March) for only 40,000 miles. Present changes in AA rewards have actually increased this add up to 45,000 kilometers.

Therefore with my miles, the $89 annual fee and an additional $70 in costs and fees, I notably paid off the price of my atmosphere travel.

While credit card rewards may be a way that is convenient notably lower the cost of travel, it is necessary to keep in mind that you don’t want to spend more or go into debt just to earn miles or points — that defeats the reason entirely.

But if you are careful and pay your bank card in full each month, using credit card rewards may be a good way to decrease your costs.

3. Go where the deals are

Another key to an affordable summer vacation is being flexible about the location. When you don’t have a particular location in mind, you can conserve money by avoiding tourist traps and popular hubs that may cost a great deal. Rather, consider going where the deals are.

‘One of the very best ways to save on summer travel is being available to traveling anywhere,’ says Nicole Ballantine, travel blogger at Latitude + Avenue. ‘If you’re open-minded in regards to location, you are able to book a journey for a deal, and that can save yourself a lot of money since airfare tends become probably the most costly part of a journey.’

You can make use of sites like Travelzoo.com, Skyscanner.com and Fly.com to look for the cheapest deals in your area.

4. Look for means to save lots of cash on big-ticket items

From airfare and hotel stays to gas, food and much more, happening holiday can quickly get expensive. Instead of focusing on cutting back small luxuries, concentrate on saving money on big-ticket items and getting cash back for your purchases.

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


Start thinking about 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 fly on weekends. Depart on a or Wednesday and return on a Tuesday or Wednesday tuesday. Moving times can save yourself you at least 20%, and in summer time I’ve seen it up to 50per cent,’ says Clem Bason, CEO of goSeek.

It also helps to book your tickets a few months in advance to make sure you get the most readily useful price. According to an annual airfare study by Cheapair.com, the most effective time to book a domestic U.S. flight is 54 days in advance.

Their research additionally unearthed that the most useful time to get international flights can range anywhere from 70 times in advance to 320 days, depending in the location.

Additionally, it may also help to check on air companies’ social networking pages for any additional deals.


Hotels can be expensive, so consider getting a personal space in a hostel. You can also consider Airbnb or even a true house exchange to spend less.

Before scheduling, you ought to read reviews from other users regarding hostels that are potential Airbnb lodgings to get a better idea of where you might be staying. You may also ask your friends for recommendations on places or neighborhoods that are certain remain in or avoid.


Dining out three times a day is really a surefire option to increase your expenses. Give consideration to going to the grocery that is local to obtain some food for break fast and lunch. You can even do your own cooking for a few meals if you have access to a kitchen. For regional dining out deals within the U.S., look on deal-of-the-day sites like Groupon.com and LivingSocial.com.