But Greenlight isn’t the only kids banking app worth considering. Here are five alternative kids banking apps that you should explore before deciding on the right one for your children.

The five Greenlight alternatives are summarized below:

	Best for	Learn more
	Low cost	Learn more
	Financial education resources	Learn more
	No recurring fees	Learn more
	Building credit	Learn more
	Provides investment option	Learn more

FamZoo

Best for: Low cost

• Minimum account balance: $0
• Spending roundups: No
• Allowance and chores: Yes
• Investment option: No
• Fees: $5.99 per month, with discounts up to 58% when you pay in advance

Much like Greenlight, FamZoo is built around a debit card for your child(ren), and while it offers more features overall, it’s limited in scope. For example, while Greenlight accounts pay interest, FamZoo provides for interest paid to children by their parents.

Also important is that the debit card provided is a prepaid card. No bank account is required to open an account, and there is a single fee plan for all users, which can be paid using a credit card on file.

The account provides instant card-to-card transfers, direct deposit of paychecks and tax refunds, card activity alerts, automated allowance and chores, and savings goal tracking. You can also set up specific accounts for spending, saving, and giving. If you do, percentage allocations of any funds received on the child’s account will go into each specific account.

Here's our full review of FamZoo for more information.

Go to FamZoo

GoHenry

Best for: Financial education resources

• Minimum account balance: $0
• Spending roundups: No
• Allowance and chores: Yes
• Investment option: No
• Fees: $5 per month per child, or $10 per month for up to four children

Like FamZoo, GoHenry provides prepaid debit cards for kids. Since the card does not have a bank account attached, parents make interest payments on savings allowances.

The card provides for allowance and chores and offers a wealth of educational tools to help your kids learn to become savvier in managing their finances. Those resources are conveniently tailored to your child’s age, providing progressively more challenging modules.

GoHenry allows you and your child to select from one of more than 45 customizable debit card designs. A companion app is available for parents, enabling you to track spending and savings activity, set spending limits and savings goals, and receive real-time spending notifications. The card can even be used to give to charity (the Boys and Girls Clubs of America) or to split a check with friends and family.

Here's our full goHenry review for more information.

Go to GoHenry

Chase First Banking

Best for: No recurring fees

• Minimum account balance: $0
• Spending roundups: No
• Allowance and chores: Yes
• Investment option: No
• Fees: No monthly service fees

Chase First Banking differs from some other apps on this list in that it is actually a bank account. That means it can offer some real-world benefits that standalone debit cards don’t, like the ability to gain experience with a live bank account. The account and debit card are designed for kids between the ages of 12 and 17. And while parents manage it, kids have access to multiple banking features.

Each participating child will receive a Chase debit card that can be used for both purchases and ATM access. Parents can set spending limits, as well as withdrawal limits, and receive alerts for account activity. As a parent, you will also have the ability to either approve or reject a child’s request for additional funds.

Kids can monitor the activity on their accounts using the Chase mobile app. In addition, your child will enjoy access to more than 4,700 Chase branches and more than 15,000 in-network ATMs.

Here's our full review of Chase First Banking for more information.

Go to Chase First Banking

Current

Best for: Building credit

• Minimum account balance: $0
• Spending roundups: Yes
• Allowance and chores: No
• Investment option: Crypto investing only with as little as $1
• Fees: No annual fees

Current offers a kids checking account and debit card through Choice Bank. It offers a unique benefit with the ability to use the account to build credit, at least if your child has a wage-earning job. This is done by qualifying for paycheck advances of $50 to $500. It’s even possible to increase the advance if the child’s income is stable and increases.

There is no credit check, and no interest is charged on the advance. Advanced funds are available in one to three days. The repayment is reported to the major credit bureau giving your child an opportunity to build credit.

Current offers another valuable perk. While the account doesn’t pay interest, you can earn a bonus of up to 4.00% APY annually on your savings. To help you build savings, your child can take advantage of the roundup feature to add a little money to savings with each purchase made with the debit card. 

Here's our full review of Current for more information.

Go to Current

BusyKid

Best for: Provides investment option

• Minimum account balance: $0
• Spending roundups: No
• Allowance and chores: Yes
• Investment option: Yes
• Fees: $4 per month (billed annually) for up to 5 cards

BusyKid is a chore management app with a debit card. But it distinguishes itself from the competition by offering an investment option.

Investing requires parents to open an investment account with BusyKid’s brokerage service, which is held with Apex Clearing. A section of the account is established for the child to make investments, which requires a minimum initial investment of $10. The child or teen will be able to make purchases and sales through the account, with the parents notified of each trade. 

Another interesting feature is the Savings Match. Parents can match a child’s savings contributions based on a percentage of the deposit made. Your child can also contribute to charities, subject to the parent’s approval. The debit card is a Visa card issued by Pathward, N.A., Member FDIC.

BusyKid also offers a wealth of financial education resources, including budgeting, compound interest, credit and credit scores, inflation, taxes, compound interest, 401(k) plans, and more.

Go to BusyKid

What are Kids Banking Apps?

Kids banking apps are simply apps designed to provide at least limited banking access to kids. They are generally available to kids between the ages of six and 17. While they have many of the services offered with a traditional checking account, there are notable exclusions.

For example, kid's banking apps don’t normally permit overdrafts or check-writing privileges. Instead, the entire app is built around a debit card. The child can use the debit card to make in-store and online purchases and often withdraw cash from ATMs.

Since kids are minors, kid's banking apps require parental monitoring. That means the parents are required to be included on the account and will have general oversight over any activity the child engages in. This gives parents the ability to know how much and what their kids are spending money on and to put limits on that spending authority.

Because there are so many different kid's banking apps, each offers a wide variety of features and services. As you can see from our list, some provide savings capabilities and even introduce kids to investing.

Because of the range of services and fees, parents should choose a kid’s banking app that provides the service level the parents are trying to help their children learn.

How to Choose a Kid's Banking App

If you’re looking for the best banking app for your kids, you don’t want to simply throw a dart and choose the cheapest one available. Start by evaluating exactly what you want a banking app to help your child with.

Major factors to consider include the following:

Do you want a debit card with a real bank account attached? A debit card with a bank account will give your child real-life experience with a bank account. What’s more, many banks will allow your child to convert the kid’s bank account to an adult checking account upon reaching the age of majority in your state.

But not all kids are ready for a whole bank account. If you just need a convenient way to give your child some money, a debit card without a bank account could be the perfect solution.

Do you want a kid’s banking app with an interest-bearing savings option or even investing? Many banking apps do provide an interest-bearing savings option. That can be a good way to help you show your child how to save money for future purchases. Fewer kid's banking apps provide an investment option. One that does is BusyKid. That will not only teach your child the basics of investing but also give him or her a head start on building a strong financial future.

Cost. The cost of a kid's banking app shouldn’t become a financial burden. Though many of the ones outlined above have small monthly fees, choosing one with no recurring fees is possible. Current and Chase First Banking are two examples.

Educational resources. One of the primary benefits of a kid’s banking app are the financial educational resources they provide. There’s a wide variety of resources among these apps. Apps like GoHenry and BusyKid offer resources to help your child learn about everything from budgeting to investing.

How to Open a Kids Banking App

Kids banking apps can be opened on Google Play or The App Store by downloading the banking app to a mobile device or by signing up for the app on the issuer's website.

You’ll need the information typically required to open any financial account in the US. Among the possible requirements are:

• Your email address.
• Mobile phone number.
• Your children’s names and dates of birth.
• Your legal first and last name.
• The physical address of all participants.
• Your date of birth.
• Your Social Security number.
• A valid government-issued photo ID, such as a driver’s license.

You will also be required to connect an existing bank account or credit card to the banking app for funding purposes.

What About Kids Checking Accounts and Prepaid Debit Cards?

Kids checking accounts or prepaid debit cards may be viable additional alternatives to Greenlight. 

Kids Checking Accounts

If your kids are a bit older, another option is to get them their own checking account.

Giving them their own checking account is a great way to start transitioning them into financial adulthood. It’s a stepping stone to their own adult checking account, as when the child turns 18, the account will automatically become solely theirs.

These accounts are typically free but require more responsibility on the child’s part to avoid overdrafts.

Kid checking accounts are tied to your own checking account and can be seen when you log into your online banking. This will give you access to see your child’s spending and monitor the balance, but you will not have control over their spending as you do with the kid's debit cards.

Transfers from your account to theirs are painless and can usually be done on your bank’s app.

If you have multiple children, getting them each their own checking account might be more of a hassle than it’s worth. If you have a lot of kids, this could mean a lot of extra hassle.

Here’s our list of the best free checking accounts.

Prepaid Debit Cards

What’s nice about the debit cards specifically designed for kids is that they pair with an app that gives you visibility and control over your child’s spending. But if you aren’t concerned about that, you may be considering a prepaid debit card.

Prepaid debit cards are exactly what they sound like: a debit card that you can load up with money and then spend at will. You can only spend what has been preloaded onto the card. Different cards have different methods of reloading. Most accept direct deposit, bank account transfers, mobile check deposits, and loading from an ATM or in the bank.

For example, if you wanted to put a set amount on your child’s prepaid debit card each payday, you could set that up through direct deposit from your paycheck. Your child would then have a card they could use whenever they wanted.

The drawback is that prepaid debit cards have notoriously high fees. If you go the prepaid debit card route with your child you’ll want to be crystal clear on all the different fees the card can charge before you begin. Sometimes, what can appear as a benefit (overdraft protection) can end up dinging you – here’s a warning about automatic billing overdraft loopholes on debit cards.

Here’s our list of the best prepaid debit cards.

Summary

Getting your child their own debit card can eliminate some of the little hassles in life, like struggling to pay your kid's allowance or worrying about them losing your cash when they go out with friends.

Plus, a service like Greenlight, or one of the alternatives listed in this article, gives you total control over where and how your children can use their debit card and how much they can spend at particular stores. You’ll also get access to where the card has been used–giving you control and security.

The post Greenlight Alternatives – Find the Best Debit Card for Your Kids appeared first on Best Wallet Hacks.

If you’ve been looking for a credit card that offers premium travel rewards and benefits – but without the high annual fee – look no further than the Capital One Venture Rewards Card. It combines high rewards, a large sign-on bonus, and travel perks available only with premium credit cards, all in a card with an annual fee of under $100.

At a Glance:

• Generous, easy to qualify for sign-on bonus.
• Earn 5X miles for every dollar spent on travel purchased through Capital One Travel.
• Packed with valuable travel benefits.
• High and unlimited rewards for other purchases.
• Multiple miles rewards redemption options, including transfers to other travel loyalty programs.
• Low annual fee.

Who Should Use the Capital One Venture Card?

While the Capital One Venture Card can be an excellent credit card choice for just about anyone – due to the combination of a very generous sign-on bonus and unlimited 2x miles per dollar on every purchase, every day – the card is designed specifically for frequent travelers.

That’s because the Capital One Venture Card provides enhanced travel benefits, like unlimited 5X miles on every dollar spent on travel booked through Capital One Travel. But the travel benefits don’t stop there. The Venture Card provides other valuable perks, like auto collision damage waiver, which is a benefit that is becoming increasingly uncommon even on travel cards, as well as no foreign transaction fees.

This is also an excellent choice if you want practically unlimited rewards redemption options. Capital One allows you to redeem rewards for new and previously booked travel purchases with Amazon.com or PayPal, gift cards to popular merchants, cash back in the form of a statement credit or a check, and other options.

While this card does have an annual fee, it’s only a fraction of the fee charged by competing credit card issuers that offer travel cards with this many benefits.

Alternatives to the Capital One Venture Card 

What Is the Capital One Venture Card?

Capital One Venture Card is a rewards credit card specifically focusing on travel-related rewards and benefits. Though the card pays unlimited 2x miles per dollar on every purchase, every day, you can earn 5X miles for every dollar spent on purchases through Capital One Travel. 

From there, the card also provides valuable travel benefits, including a credit of up to $120 toward Global Entry or TSA PreCheck, and auto collision damage waiver on car rentals. But the whole offer starts with a very generous sign-on bonus worth hundreds of dollars.

You’ll also enjoy 24/7 customer service, the ability to choose your due date, credit monitoring through Capital One’s CreditWise free credit monitoring service, security and account alerts, virtual cards, and $0 fraud liability protection against unauthorized charges.

All of those rewards and benefits come packed on a credit card with no foreign transaction fees and an annual fee of just $95.

Learn More about the Capital One Venture Rewards Credit Card

Sign on Bonus

The Capital One Venture Card starts you off with a very generous sign-on bonus, enabling you to earn 75,000 miles if you spend $4,000 on purchases within the first 3 months of opening the account. That translates into miles worth $750, or nearly $0.19 for every dollar spent.

The bonus will be redeemable within two billing cycles after it has been earned. Like other Capital One rewards, your bonus miles never expire as long as your account remains open.

Current Capital One credit card customers are not eligible for this card or the bonus if they have received a new cardmember bonus on the same card within the past 48 months.

Capital One Venture Rewards

Capital One Venture offers three rewards level categories:

1. 5X miles on every dollar spent on travel purchases made through Capital One Travel. This includes hotel, car rentals, and vacation rentals – but not airfare purchases.
2. unlimited 2x miles per dollar on every purchase, every day, including airfare purchases.
3. 5X miles on Capital One Entertainment purchases, providing you with access to concerts, sporting events, and dining with exclusive presales, tickets, and suite access.

How to Redeem Capital One Venture Rewards

Capital One Venture Rewards are unlimited and won’t expire for the life of the account. They can be redeemed through any of the following methods:

• Travel booked through Capital One Travel.
• Reimbursement for recent travel purchases using your Venture card.
• Gift cards with your favorite merchants.
• Cash, in the form of either a statement credit or a check.
• For eligible PayPal purchases at millions of online merchants.
• To shop on Amazon.com.

You can also transfer your rewards miles to one of 16 travel loyalty programs, some of which include: 

• Aeromexico Club Premier
• Air Canada Aeroplan
• Avianca Life Miles
• British Airways Executive Club
• Choice Privileges
• Emirates Skywards
• Qantas Frequent Flyer
• Singapore Airlines KrisFlyer
• TAP Miles&Go
• Virgin Red
• Wyndham Rewards

You’ll receive 1,000 miles or points when you transfer 1,000 Capital One miles to most participating travel rewards partners.

0% Introductory APR

Capital One Venture does not offer a 0% introductory APR at this time.

Other Card Benefits

Capital One Venture Card also comes with a laundry list of other valuable perks and benefits:

• Credit of up to $120 toward Global Entry or TSA PreCheck.
• Hertz Five Star status, entitling you to free status upgrades, a wider selection of rental cars, and the ability to skip the line.
• Average savings of 15% on flights with price prediction from Capital One Travel.
• Auto rental collision damage waiver when you charge a car rental, using the card.
• Elevate your stay – receive a $50 experience credit to use on Lifestyle Collection bookings at unique hotels.
• 24-hour travel assistance.
• Automatic accident insurance for a covered loss at no extra charge when you purchase airline tickets using the card.
• No foreign transaction fees.
• Capital One Shopping, a free browser extension that automatically applies the best available coupon codes at check out, and alerts you when prices drop on items you’ve viewed or purchased.
• Capital One Offers give you exclusive access to earn statement credits when you shop at popular online retailers.
• Extended warranty on purchases made using the card, at no additional cost.
• Capital One Dining gives you access to unique dining experiences in major cities around the world.
• 50% off handcrafted beverages every day at Capital One Cafes.

Learn More about the Capital One Venture Rewards Credit Card

Capital One Venture Card Fees

Like most credit cards, Capital One Venture Card charges some fees. Common ones are as follows:

• Annual fee: $95
• Balance transfer fee: 4% of the amount transferred
• Cash advance fee: the greater of $5 or 5% of the amount of each advance
• Late fee: $40
• Foreign transaction fee: 0

The Capital One Venture Card vs. Alternatives

Chase Sapphire Preferred 

Chase Sapphire Preferred comes the closest to matching Capital One Venture. It’s also a travel specific credit card, offering 5x points on travel purchased through Chase Ultimate Rewards, 3x points on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on everything else (plus a $50 annual Ultimate Rewards Hotel Credit), as well as no foreign transaction fees, auto rental coverage, and extended warranty protection.

However, Chase offers something the Venture card does not, with a 25% rewards points enhancement when points are redeemed for travel through Chase Travel. In that way, the 60,000 point sign-on bonus will be worth $750.

In addition, on each account anniversary, you’ll earn bonus points equal to 10% of your total purchases made the previous year. That means $30,000 in purchases using the card will translate into an additional 3,000 bonus points.

Chase Sapphire Preferred also throws in some additional travel benefits, like trip cancellation and interruption insurance, baggage delay insurance, and travel and emergency assistance.

Read our full Chase Sapphire Preferred Review

Chase Button

Capital One Spark 1.5% Cash Select

Capital One Spark 1.5% Cash Select is something like a cousin to the Capital One Venture Card, except it’s designed specifically for businesses. It’s also a travel-centric card, offering unlimited 1.5% cash back on every purchase. Though the non-travel rewards are less generous than they are for Capital One Venture, Spark 1.5% Cash Select does pay rewards in cash. That can be either a statement credit or a check.

The sign-on bonus is also less generous than it is for the Capital One Venture Card at $500 if you spend $4,500 in the first 3 months from account opening. But once again, that bonus will be paid in cash, not points. As a business card, you can offer free employee cards with set spending limits, assign account managers, maintain purchase records, and get year-end summaries.

Learn more about Capital One Spark Cash Select

Discover it Miles Card 

If you prefer a travel credit card with a much simpler reward plan, Discover it Miles is worth checking out. Though it doesn’t pay an enhanced benefit on travel purchases, it does offer unlimited 1.5X miles on every dollar on all purchases.

It doesn’t offer a formal sign-on bonus, the way the Capital One Venture Card does, it does provide an automatic 100% match of all miles earned in your first year. That eliminates the need to meet a spending quota within the first three months of owning the card.

Discover it Miles offers an important benefit Capital One Venture Card doesn’t have, which is a 0% introductory APR on purchases and balance transfers for 15 months In addition, the card has no annual fee, and no foreign transaction fees. Your miles can be redeemed toward travel purchases or for statement credits against your bill. Your miles never expire, even if you close your account.

Discover button

FAQs

Should You Apply for the Capital One Venture Card?

Several premium credit cards offer the kinds of travel rewards and benefits provided by the Capital One Venture Card. However, those cards usually have annual fees of $500 or more, making them suitable only for very frequent travelers.

But if you are a not-so-frequent traveler, and want to enjoy premium rewards and benefits on a card with a low annual fee, apply for the Capital One Venture Card today.

The post Capital One Venture Card Review appeared first on Best Wallet Hacks.

If you have bad credit or no credit, then you know how hard it can be to increase your credit score. But luckily, there’s a financial service that will help you to either build or rebuild your credit.

The Self Credit Builder Account is a loan that you can use to build your credit and your savings. When you take a loan, instead of receiving the money from the loan, it is put into a CD. You make payments on the loan, and when the loan is paid off, you’ll receive access to the funds in the CD minus the loan interest and fees.

Your payments are reported to the credit bureaus, and at the end you have some money in savings.

At a Glance

• Builds credit and savings at the same time
• Four plans available, with payments starting at $25 per month
• No hard credit check
• A credit card that is secured by the CD is also available

Who Should Use a Self Credit Builder Account?

Self is best for those who need to rebuild their credit but do not want to put down a security deposit for a secured card. It offers a legitimate and inexpensive way to simultaneously build credit and savings.

There are no income limits or hard credit check, but you do need to provide your social security number. You also need to be at least 18 years old and have a bank account. You’ll also want to choose a payment plan that fits easily into your budget. Plans are between $25 and $150 a month.

Self Credit Builder Alternatives

Builds savings
Builds credit with everyday bills	Yes	Yes	Yes
Pricing	$5 per month	Free	$4.99 to $29.99 per month
	Learn more	Learn more	Learn more

What is the Self Credit Builder Account?

Based in Austin, Texas, and founded in 2014, the company’s official name is Self Financial, Inc.; however, it is commonly known simply as Self. The company is dedicated to giving its customers the ability to either better their credit or to build it from the ground up. The company reports that more than 500,000 consumers have used the service.

Self is a technology company offering their Credit Builder Account to those who either have no credit or don’t have access to traditional financial products. The account is an installment loan that enables customers to build a positive payment history, while also saving money.

Self Financial has a Better Business Bureau rating of “B”, on a scale of A+ to F. It also has a rating of 4.8 stars out of five by nearly 16,000 users on Google Play, and 4.9 out of five stars among more than 39,000 users on The App Store.

How a Self Credit Builder Account Works

As described above, Self offers their Credit Builder Account, which is a loan that runs for a term of 24 months. You can choose the repayment plan that fits your budget. And each time you make a monthly payment, it will be reported all three major credit bureaus – Experian, Equifax, and TransUnion. Whether you have no credit or poor credit, making your payments on time each month will help you to either build or better your credit history.

There’s an added bonus to the arrangement, and it’s huge. Each time you make a monthly payment, you’ll be adding funds to a certificate of deposit (CD) in your name, which acts as security for the loan.

You’ll start the process by applying for a loan that will be held with one of Self’s bank partners. Bank partners include Sunrise Bank, Lead Bank, and First Century Bank. The same bank will also accumulate the monthly contribution to the CD portion of your payments.

Get Started with Self

Self Credit Builder Account Loan Options

Self offers four different loan options, each with 24-month terms. The details of each are as follows:

So you can see, for the first example, you pay $25 a month for 24 months. Over that time, you’ll pay $600 in loan payments and you’ll receive $511 from the CD at the end of the loan. So essentially, you’ll have paid $89 to improve your credit.

You can choose to pay off or close your account early. However, you will be charged a small early withdrawal fee on the CD. Self warns that paying off the Credit Builder Account early can decrease your credit betterment efforts.

Also, be aware that you will not have access to the CD balance until the term loan is paid in full. CD funds will be released within 10 to 14 business days of loan payoff and be delivered either by check or ACH transfer into your bank account.

How to Open a Self Credit Builder Account

To be eligible to open an account you will need to be at least 18 years old, and either a US citizen or valid permanent US resident with a physical address in the US.

You’ll also need to have the following available:

• A bank account, debit card or prepaid card (credit cards are not accepted).
• A valid email address and phone number.
• Your Social Security number.

The information is necessary to verify your identity and make payments on your account.

Credit: Self will run a “soft credit pull,” which will not affect your current credit score. However, no one is denied a Self Credit Builder Account based on their credit score. They do warn it is possible to be denied for other purposes, including lack of sufficient verification of your ID, being under age 18, not having a Social Security number, or not being either a US citizen or permanent resident.

Self also discloses that each of their bank partners will run your name through ChexSystems. This is of a repository used by banks that tracks consumer performance in managing their bank accounts. For example, if you ever closed a bank account with an open balance, it will appear in the ChexSystems database. This is another possible reason you may be denied for a Credit Builder Account. (not all banks will use ChexSystems though)

Income: Self does not require a minimum income. They only require that the monthly payment you choose be one that you can afford.

Once your account is approved, you’ll pay a one-time, non-refundable administrative fee for the service — details will be provided under Self Credit Builder Account Pricing & Fees below.

One of the three bank partners will provide you with a small loan, with the loan funds held in a certificate of deposit that’s fully FDIC insured. The following month, you’ll begin repayment on your account. The loan will be for a fixed term of 24 months.

As you make your payments on time each month, your payment history will be reported to the three major credit bureaus, allowing you to build or rebuild your credit history. Once the loan has been fully paid, the CD will mature, and the funds will be available to you. This is the strategy used by Self to both better your credit and enable you to accumulate savings in the same program.

As an added bonus, you can get your monthly credit score through Self free of charge.

Get Started with Self

Self Visa® Credit Card

Self also offers a Visa credit card. However, to be eligible for the card, you’ll need to first open a Credit Builder Account, and meet the following eligibility requirements:

• You must have made at least three monthly payments on time.
• Have at least $100 in savings progress in your Credit Builder Account.
• Your account must be in good standing.

Just as with the Credit Builder Account, your credit history — or the lack of it — will not be a factor in determining your eligibility for the card. In fact, there is no hard credit check.

If you become eligible for the Self Visa® Credit Card, you can choose what portion of your savings progress will be used to secure your card and set your credit limit. That limit must be a minimum of $100. The credit limit can be increased in increments of $25 at a time, based on the increase in your portion of the balance in your Credit Builder Account CD.

The Self Visa® Credit Card does not offer rewards or allow balance transfers or cash advances. It is also not possible to add an authorized user. However, just as is the case with the Credit Builder Account, your payment history on the Self Visa®Credit Card will also be reported to all three major credit bureaus, giving you another good credit reference.

Your Self Secured Visa® Credit Card credit line is tied to the funds on deposit in your Credit Builder Account. The only way to have those funds released at the end of the loan term is to cancel your Visa® card. Unfortunately, the portion of your Credit Builder Account CD that secures your Visa® credit card does not earn interest.

Why Not Just Apply for a Credit Card or a Personal Loan?

In theory, you could apply for either a credit card or a personal loan to help you build or rebuild your credit. But there are a couple of problems with that strategy.

First, if you don’t have a credit score, it’s almost impossible to get a credit card or personal loan. Second, if you have bad credit, you won’t be eligible for traditional credit cards or personal loans.

In either case, you’ll be forced to take a credit card or personal loan that will either charge exorbitant interest rates and/or very high annual or monthly fees. And just as important, credit cards and personal loans for consumers with no credit or bad credit are notorious for very low loan limits. Plus, in the case of credit cards, you may be required to provide a security deposit

And unlike the Self Credit Builder Account, neither a credit card nor a personal loan will leave you with money in savings after you’re done with the arrangements. That’s because Self provides a dual advantage: credit building while also building savings (minus interest and fees, of course).

Self Credit Builder Account Features

Availability: All 50 US states. Self is not available outside the US.

Savings security: All funds accumulated through your monthly payments will be held in a CD at a partner bank and will be fully FDIC insured.

Referral bonus: The Self Financial dashboard will give you access to a unique referral URL. You can provide that to friends and family members and earn $10 for each person who signs up for a Credit Builder Account. The referral bonus will be paid after the friend or family member has been approved for an account and has made his or her first account payment.

Mobile App: Available at The App Store for iOS devices, 10.0 and later, and is compatible with iPhone, iPad, and iPod touch. Also available on Google Play for Android devices, 5.0 and up.

Customer support: Available by email and live chat, Monday through Friday, from 9:00 AM to 5:00 PM, Central time.

Self Credit Builder Account Pricing & Fees

Each loan has a specific interest rate and APR. Those APRs are shown under the “Four Different Self Credit Builder Account Loan Options” section above.

If you close your account before the end of the term, you may be subject to an early withdrawal fee of up to $5, depending on the account size.

Late fee: If a loan payment is more than 15 days past due, you’ll be charged a late fee equal to 5% of the scheduled monthly payment. If the payment is more than 30 days past due, it will be reported as a late payment to the three credit bureaus.

Self Credit Builder Account Pricing & Fees

Each loan has a specific interest rate and APR. Those APRs are shown under the “Four Different Self Credit Builder Account Loan Options” section above.

If you close your account before the end of the term there is an early withdrawal fee of up to $5 depending on the account size.

Late fee: If a loan payment is more than 15 days past due, you’ll be charged a late fee equal to 5% of the scheduled monthly payment. If the payment is more than 30 days past due, it will be reported as a late payment to the three credit bureaus.

Get Started with Self

Alternatives to Self Credit Builder

Self Credit Builder isn’t the only credit builder loan available. There are now several companies that offer credit builder loans, here’s how they compare:

Kikoff

When you sign up for Kikoff, you can get a $750 credit line (Kikoff Credit Account) with no credit check — but there is a $5 monthly membership fee (annual commitment). You can then make purchases from the Kikoff store.

You can also get a secured credit card. It’s a secured card that acts like a prepaid debit card. You load money onto the card, as you spend money is removed from your available balance and set aside. The payment is then made in full from the set aside funds.

Your payments to both the line of credit and the credit card are reported to all three credit bureaus.

If you want to learn more, check out our Kikoff review.

Learn more about Kikoff

Chime

Chime has a Chime Credit Builder Secured Visa Credit Card. This card works like a prepaid debit card. Once you load the card, you can use it like any other credit card. As you spend, the purchase amounts are removed from your card and put aside to be used to pay off the card on the due date. There are no annual or monthly fees on this account.

Chime also reports to all three bureaus – Experian, Equifax, and Transunion.

Our full review of Chime has more information on this.

Learn more about Chime Credit Builder

Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. The Chime Visa® Debit Card is issued by The Bancorp Bank or Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. Please see back of your Card for its issuing bank.

StellarFi

StellarFi lets you build credit by paying your regular bills. It works by paying your bills for you, essentially lending you the money. Then, you pay StellarFi back. They report that payment to the credit bureaus, which builds your credit.

There are three plans available, and they cost between $4.99 and $29.99 per month, depending on how much the bills are that you want paid.

Learn more at our full review of StellarFi.

Go to StellarFi

Will Self Credit Builder Work for You?

If you’re not happy with your credit report and credit score, or you have no credit profile at all, the Self Credit Builder Account is a good option. What’s more, it will also allow you to begin building savings. That’s important because those with bad credit often have a lack of savings, which is part of the reason for the bad credit itself.

In that way, the Self Credit Builder Account will help you achieve two very important financial milestones in the same program. You can participate in the program with a monthly payment of as little as $25, and both fees and interest rates are very reasonable.

Think about it — you can build your credit over 24 months, and by the time you complete the program, there’ll be a funded CD waiting for you. Self has put together a best-in-class service to help consumers both better their credit. If you’re looking to do either or both, this is the program for you.

*****Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., First Century Bank, N.A., each Member FDIC. Subject to credit approval.

The post Self Credit Builder Account Review 2024 appeared first on Best Wallet Hacks.

It offers three different model portfolios and numerous investment newsletters, each with its own purpose, objectives, and fee structure. You can select one or more of the services that apply to you or take advantage of multiple services when you subscribe to the Total Portfolio program.

At a Glance

• Provides three portfolio models and 23 newsletter services
• Advisory service that does not directly manage your portfolio
• Provides stock recommendations and portfolio allocations
• Packages available offering multiple services for one price

Who Should Use Stanberry

Stansberry Research may work best for wealthier investors, for whom the investment gains from the recommendations will easily offset the cost of the newsletter.

For example, if the recommendations earn 10% on a $20,000 portfolio, it will be well worth the cost of a $200 newsletter. However, if you have only $1,000 to invest, the 10% return will not cover the subscription cost.

Stansberry Research is also designed primarily to benefit passive investors with a long-term commitment. Their investment recommendations are slanted in favor of value stocks. Those stocks are currently out of favor in the investment community but have strong fundamentals. The expectation is that they will outperform other stocks over the long term. You must be prepared to commit to the recommendations for several years.

Because of the cost of this newsletter service, Stansberry Research is better suited to large, experienced investors. Subscribing to several newsletters at the same time can potentially cost several thousand dollars per year.

Stanberry Research Alternatives

Best For	Stock picks and research	Stock picks and stock rankings	Stock picks and analysis, portfolio management tool
Minimum Investment	N/A	$25,000	N/A
Price	$0 – $99 per month	$199 per year	$249 per year
	Learn more	Learn more	Learn more

About Stansberry Research

Stansberry Research was founded in 1999 and is based in Baltimore, Maryland. The company gets its name from its founder, Frank Porter Stansberry – or simply Porter Stansberry – a controversial figure because of his unconventional investing style. 

Stansberry Research nonetheless offers more than 30 stock-picking newsletter options. It’s one of the most popular stock-picking newsletters, with over 1 million subscribers worldwide, including 70,000 lifetime subscribers.

The newsletters offer strategies for different types of investing, including:

• dividend investing
• fixed-income investing
• value investing
• alternative assets

However, the site also includes a wealth of investor resources to help you learn more about the process.

Stansberry Research Complete Portfolio Solutions

Stansberry Research offers three model portfolios, each with its own specialization. Unlike robo-advisors and traditional investment advisories, Stansberry Research doesn’t actually manage your portfolio for you. Instead, you’re provided with investment recommendations for each portfolio type.

Unfortunately, the company does not indicate the cost of its services. In fact, you cannot purchase the services online. You must call to get the price.

The three portfolio options are as follows:

The Total Portfolio

This is a hedge portfolio using about 40 stock recommendations. They’re drawn from safe income, growth stocks, emerging markets, and small capitalization stocks. The service for this portfolio is published monthly.

This is a generally conservative portfolio mix, with a recommended minimum portfolio size of $100,000. The typical holding period is from 1-3 years and emphasizes “super-high-quality, capitalization-efficient companies.” However, there will be occasional recommendations for short trades.

One of the main advantages of The Total Portfolio is lifetime access to all Stansberry Research and newsletters as well as immediate access to all publications available for both The Capital Portfolio and The Income Portfolio. 

The Income Portfolio

This portfolio consists of between 20 and 30 securities emphasizing generating a monthly income. It focuses on income-generating stocks, fixed-income bonds, and bond funds. This is also a portfolio with a generally conservative orientation, designed primarily for retirement account growth and safety.

The Capital Portfolio

The portfolio comprises 20 of Stansberry Research’s “highest conviction ideas.” These include companies in gold stocks, foreign stocks, insurance firms, technology, real estate, energy, and biotech.

Like the other two portfolios, The Capital Portfolio has a conservative orientation. The service is published monthly and provides more than 20 recommendations of super high-quality, capital-efficient companies likely to thrive regardless of market conditions. It’s designed for investors looking for a more passive, low-maintenance portfolio.

Stansberry Research Investment Advisory Letters

Stansberry Research may be best known for its investment advisory newsletters. They offer 23, six of which are completely free!

We’re not going to cover all of them in detail, but here’s a list of the most popular and interesting newsletters:

Stansberry Investment Advisory

This is the company’s flagship research advisory. It is published on the first Friday of each month. Recommendations will center on individual stock positions and between 20 and 30 companies. 

The recommended holding period is at least one year, with a minimum investment of $1,000. The newsletter costs $499 per year, but you can start with a 30-day trial subscription.

True Wealth

This newsletter focuses on value stock selections — buying assets no one else wants and then selling them when “others will pay any price.” It can include unusual investments like timber, gold coins, and government tax certificates. Others include farmland, oil and gas royalties, and virtual banks. The recommended number of positions is 25 companies, and its orientation is conservative.

A minimum investment of $1,000 is recommended, and you’ll be invested in individual stocks and exchange-traded funds. The newsletter comes out monthly and is available at $499 per year, with a 30-day trial subscription.

Retirement Millionaire

This newsletter has a slightly different angle. It’s designed to instruct readers on living “a millionaire lifestyle on less money than you’d imagine possible.” It’s a monthly newsletter subscribed to by almost 100,000 readers.

The newsletter focuses on 20 to 25 stocks, with a recommended holding period of at least two years, and you’ll need at least $1,000 to invest. It is designed for beginning investors, retirees, and those planning to retire. The newsletter comes out on the second Wednesday of each month.

Like other Stansberry Research newsletters, the subscription is available for an annual fee of $499, with a 30-day trial.

Other Stansberry Research Newsletters

The company offers at least 20 other newsletters, with most being highly specialized.

They include:

• Stansberry Gold and Silver Investor
• Commodity Super Cycles
• Stansberry Innovations Report
• The Ferris Report
• Prosperity Investor
• Crypto Capital
• Retirement Trader
• Stansberry’s Big Trade
• True Wealth Systems
• Stansberry Venture Technology
• Stansberry Venture Value

• Stansberry Credit Opportunities
• Income Intelligence
• Daily Wealth Trader
• Ten Stock Trader

The six free Stansberry Research newsletters include:

• DailyWealth
• Health & Wealth Bulletin
• Stansberry Digest
• Stansberry Investor Hour
• This Week on Wall Street
• Whitney Tilson’s Daily

Stansberry Research vs. Alternatives

If Stansberry is not for you, there are several alternatives to consider. Like Stansberry Research, all three alternatives below are investment advisory services, not investment management services.

Seeking Alpha

Consider Seeking Alpha if you want in-depth research on any stock or ETF and also want to find investment ideas for multiple strategies.

Unlike an investment newsletter, you won’t receive monthly investment recommendations to buy a specific stock. However, you can access lists of top-rated stocks, a stock screener, and a rating system to find investment ideas.

Once you find an idea, you can read analysis articles that can present the bullish and bearish case for the company you’re researching from several authors. These articles can help give you a better understanding of a stock and its potential risks and rewards that a monthly Stansberry publication may not have time (or space) to cover.

It’s also possible to follow your favorite authors and track their long-term recommendation performance. These authors may also have a model portfolio that can give you investing ideas.

In addition to the research articles, the stock profile includes the fundamental financial data and the exclusive Quant Ratings.

The Quant Ratings provides a bullish or bearish score for these factors:

• Valuation
• Growth
• Profitability
• Momentum
• EPS Revisions

These ratings and the research articles can be the best reason to consider Seeking Alpha as you have more control over your research process.

Other core features include:

• Stock and ETF screener
• Portfolio tracker
• Stock dividend grades

You receive more hands-on research tools than a standard Stansberry Research subscription.

There are three different membership plans available:

• Basic (Free): Limited access to research articles and analyst ratings. You cannot access the stock screener, Quant Ratings, or investment idea lists. It comes with one free premium article, the ability to create a portfolio, and real-time alerts on the stocks you follow, as well as to check real-time stock prices.
• Premium ($4.95 for the first month, then $239 for an annual subscription): Unlimited access to articles, Quant Ratings, rankings of the top stocks and ETFs, a stock screener, a Portfolio Health Check, and other research tools.
• Pro ($99 for the first month, then $2,400 for an annual subscription): Access to additional stock lists, screening tools, upgrades and downgrades, short sell ideas, and newsletters.

Want to know more? Check out our full review of Seeking Alpha.

Go to Seeking Alpha

The Motley Fool Stock Advisor

The Motley Fool has been around for quite some time, having been a good resource to learn about personal finance and investing. More recently, they started offering more guided investing advice in the form of stock picks and recommendations. 

The Motley Fool Stock Advisor is an investment advisory service and one of the most popular in the industry. They have a history of picking some of the most successful stocks of the past 20 years; though, as we all know, past performance is not an indicator of future results.

It’s priced at $199 per year and is designed for a minimum portfolio size of $25,000. You’ll get access to monthly stock picks, the Stock Advisor with monthly rankings, three entry stages for cautious, moderate, and aggressive investment styles, and access to financial planning articles.

Here’s our full review of The Motley Fool.

Go to Motley Fool

Morningstar Investor

Morningstar is one of the most respected investment information sources in the industry. Not only are they regularly quoted by the financial media, but they’re the frequent choice of investment brokerages to provide information and ratings to their customers.

Their proprietary five-star rating system for stocks and funds is one of the most popular in the industry.

But if you want to get more detailed investment information directly from the source, you can sign up for Morningstar Investor. It provides analysis and ratings of individual stocks, bonds, and funds. In addition, it comes with a wealth of investment tools, like analysts’ reports, top investment picks, portfolio manager, screeners, and their proprietary Portfolio X-Ray.

A subscription is available for either $34.95 per month or $249 on an annual billing basis – each after a seven-day free trial.

Here’s our full Morningstar Investor Review.

Go to Morningstar

For a limited time, Morningstar Investor is discounted by $50!

It comes with a 7-day free trial so you can lock in your savings, try the service, and cancel if you don't think it's for you.

Get $50 off Morningstar Investor

FAQs

Summary

If you sign up for one of the Stansberry Research services, use it only as a starting point. This should be the case with any investment advisories you work with.

While an investment advisory can recommend buying stock in certain companies, none can guarantee a successful outcome. You can shortlist the recommendations they make, but be sure to do your own research.

Investment advisories do make the job of individual stock selection easier. But no one is more responsible for the investments in your portfolio than you are. So, start with selections recommended by an investment advisory, then drill down and do your due diligence.

Combined with your efforts, a good investment advisory may be the best stock selection source possible.

The post Stansberry Research Review 2024: Investing Newsletters for Everyone appeared first on Best Wallet Hacks.

Index fund investing got its start in 1976, but in less than 50 years, these funds have grown to represent just over half of all fund investments. It’s clear that both financial experts and individual investors see the virtues of investing in index funds.

What is an index fund, and should you invest in them?

Why Invest in Index Funds?

Part of the reason for the rapid growth in index funds is the many benefits they provide.

Examples include:

1. There are currently 1,437 index funds to choose from.
2. Index funds cover virtually every niche of the stock market, from the general market to specific industry sectors to geographic regions.
3. Index funds are also available for bonds and other asset classes.
4. The funds trade like stocks and can be easily bought and sold — commission-free — through investment brokers.
5. You can invest in index funds with as little as $1 using fractional shares.
6. You don’t need any specific investment knowledge to invest in index funds.
7. It’s possible to build a fully diversified portfolio using just four or five different index funds.
8. Index funds are totally passive, which means your only responsibilities are to choose the funds you want to invest in and then contribute to them on a regular basis.
9. It’s very easy to dollar-cost average with index funds since they are less dependent on events, like earnings reports, than individual stocks.
10. Index funds can form the base of your portfolio, freeing you up to invest smaller amounts in individual stocks to gain investment knowledge and take advantage of special opportunities.

The Tax Advantages of Index Funds 

This is yet another benefit to investing in index funds and one that requires its own discussion.

Because index funds are based on the composition of the underlying index, securities are only traded when there are changes within the index. Since that is a relatively rare event, index funds trade stocks only infrequently. This means they generate little in the way of taxable capital gains. 

Instead, the individual share price of an index fund rises over time. No tax liability is generated until you sell your position in the fund. That creates a type of tax deferral normally available only in tax-sheltered accounts, like retirement accounts. The advantage is even greater if you hold your shares for more than one year since any gains will be taxed at lower long-term capital gains rates.

For that reason, index funds can be an excellent choice in a taxable brokerage account, as well as a retirement account.

What is an Index?

An index is a popular measure of either the general investment market or specific slices of it. Respected industry institutions, like Dow Jones & Company, NASDAQ Inc., and various large fund families, create indexes that are utilized throughout the industry.

A popular example is the S&P 500 Index, which was created and is managed by S&P Dow Jones Indices. Launched in 1882, the index tracks the performance of the 500 (or so) largest publicly traded corporations in the United States (by market capitalization). As such, it represents approximately 80% of the value of publicly traded stocks on all exchanges in the US. The index is highly valued because it provides the single largest representation of the overall US stock market.

While the S&P 500 Index is considered a more general index, there are many more that are very specific. For example, there are market indexes attached to the performance of specific industries, such as automobiles, airlines, energy, primary metals, consumer durables, consumer nondurables, and healthcare, just to name a few. There are others that are related to geography. For example, there indexes the track the stock markets in Japan, the European Union, the UK, Latin America, and other countries and regions.

What is an Index Fund?

Investment managers create portfolios designed to track the underlying indexes. This eliminates the need to research individual companies and buy and sell individual securities in an attempt to outperform the market. Instead, the fund manager maintains the portfolio to match the index, so the fund and index’s performance are identical.

For this reason, index funds are commonly referred to as passive funds. This gets to the fact that they require no active management (buying and selling of securities) by either the fund manager or by individual investors.

Both individual and institutional investors can purchase shares in index funds for their portfolios. When index funds are exchange-traded funds (ETFs) — as most index funds are — they trade like individual stocks. They can be bought and sold through investment brokers, usually commission-free.

Common Types of Index Funds

If you’ve heard of a market or industry sector, it’s almost certain there’s an index fund tied to it.

Examples include:

• Large-cap stocks (like the S&P 500)
• Mid-cap stocks
• Small-cap stocks
• Technology stocks
• Healthcare stocks
• Real estate-related stocks
• Gold stocks and bullion
• Energy stocks
• Building materials stocks
• Utility stocks
• International stocks
• Emerging markets stocks
• Government bonds
• Corporate bonds
• International bonds
• Municipal bonds

That’s just a small sampling of the types of index funds that are available.

Some of the most popular index funds include:

• SPDR S&P 500 ETF Trust (SPY)
• Invesco QQQ ETF (QQQ)
• Vanguard Real Estate ETF (VNQ)
• Vanguard Health Care ETF (VHT)
• Vanguard Total International Bond Index Fund Admiral Shares (VTABX)

The above funds are so popular that they are frequently included in professionally managed portfolios, as well as robo-advisor portfolios.

Index Fund Costs

One of the major advantages of index funds is their low cost. Unlike actively managed funds, index funds do not charge load fees. This is important because load fees can be as high as 8.5% but are more typically in the 1% to 3% range. However, they are not a factor when it comes to index funds.

As noted earlier, index funds are commonly available through investment brokers commission-free.

However, there is one cost associated with index funds, and that is expense ratios. Expense ratios are annual fees charged within an index fund to cover various expenses, like marketing and administrative costs. They can be as high as 1% of the value of your fund position each year, but index funds are commonly available with expense ratios under 0.10%.

How to Invest in Index Funds

There are various ways you can invest in index funds. Perhaps the most popular way is through investment brokers like Ally Invest, SoFi Invest, and E*TRADE. You can choose from hundreds of index funds with each broker, and all are available commission-free.

If you prefer, you can also invest directly with the sponsoring fund family. Popular fund families include Vanguard, Fidelity, and iShares. Similar to investment brokers, you can purchase positions in index funds commission-free.

Still, another way to invest in index funds is through robo-advisors. These are online, automated investment services that provide complete portfolio management at a very low fee. Popular robo-advisors include Betterment, Wealthfront, and SoFi Invest.

If you prefer to choose your own index funds, and even mix in a few individual stocks, you should investigate M1 Finance. There, you can select up to 100 individual stocks and exchange-traded funds, which M1 Finance will then manage free of charge. You can even create multiple portfolios with the service.

Pros and Cons

Pros:

• Index funds will not underperform the market index they track.
• Provides a fully diversified portfolio across hundreds or thousands of individual securities.
• Index funds are available for stocks, bonds, and other asset classes.
• There is no need to manage your index fund other than to choose which funds to buy and when.
• Index funds are simple to buy and sell and are available through most brokerage firms with no commissions.
• Since index funds only buy and sell securities when the composition of the underlying index changes, they generate very little in the way of taxable capital gains.
• Since an index fund performs like a stock, its share value can grow over many years, deferring any tax liability until your position in the fund is sold.

Cons:

• An index fund will never outperform the underlying index.
• Because so many index funds are based on market-cap weighting, the performance of the fund may primarily be determined by a small number of very large companies.
• Because they are passive investments, index funds may not provide you with an opportunity to increase your investment skills and experience.
• Index funds can be a bit boring if you like the excitement of trading individual stocks.

FAQ

The post What is an Index Fund? appeared first on Best Wallet Hacks.

KashKick is a straightforward get-paid-to (GPT) website that rewards you with cash for completing surveys, playing games, and fulfilling cash-back offers. You can even earn a small bonus for referring friends. But with so many GPT sites to choose from, is KashKick legit or just another site that doesn’t live up to the hype? We cover the various features, including how you can earn in this full KashKick review.

At A Glance

• Get-Paid-to (GPT) site that rewards you with real cash instead of points
• Multiple ways to earn
• Get paid when you earn $10
• Now has a mobile app (iOS and Android)

Who Should Use KashKick?

As with any online rewards website, you won’t get rich with KashKick. Any legit part-time job will earn you far more money. However, if you want to earn a few extra dollars each month in your spare time and spend a lot of time on your mobile device, then you might enjoy using KashKick. To make more money, avoid sites like KashKick and start a more lucrative side hustle.

KashKick Alternatives

Ways to earn	Surveys, searching the web, playing games, fulfilling orders, watching videos	Online surveys, Focus groups (limited)	Surveys, watching videos, shopping online, read emails
Minimum Payment threshold	$1 for Amazon gift card or $25 for cash	$5 (500 points)	$30
Payout options	Gift cards, PayPal Cash	eGift cards, PayPal Cash	Gift cards, PayPal Cash
	Learn More	Learn More	Learn More

What Is KashKick?

KashKick is a U.S.-based loyalty rewards website that allows you to earn cash by participating in various activities while saving money on purchases. KashKick is available via desktop or on your iOS or Android mobile devices.

Though the company is based in Wilmington, Delaware, no information is provided on the website regarding how long the service has been available. However, it looks to be one of the more recent online income-earning services.

Learn More About KashKick

How to Earn with KashKick

You can earn money on KashKick by completing consumer surveys, testing new apps, watching videos, and playing online games. You can also earn cash by participating in featured offers, which may change occasionally.

Surveys

KashKick begins each survey with a set of prequalification questions. Sometimes these are KashKick’s standard questions, sometimes the market research company sponsoring the survey will provide their own. The purpose for these questions is to ensure KashKick is matching you with the right surveys.

There are several reasons that you might be disqualified for a survey. For example, the market researcher may have reached their quota for a specific survey. Or, your answer in the survey may have contradicted the information you provided in your profile.

Like most survey websites, you’ll earn anywhere from a few cents to a few dollars per survey. The longer the survey, they higher the payout.

Featured Offers

To increase your earnings, you can participate in KashKick featured offers. Here’s an example of some of the offers displayed on the KashKick website at the time of writing:

Based on the offers I saw on the website, you can earn up to $200 per activity. However, it isn’t a complete list of the activities offered, and many of them will likely pay significantly less. But if you have the time and the inclination, KashKick will let you earn extra cash in your spare time and on your terms.

The amount you can earn and what you must do to complete a task successfully will vary with each offer. Some offers pay you to view them, like the daily click bonus or when you register for another service, but others require you to sign up for a service.

Referrals

KashKick offers a referral program. Users can earn up to 25% of the cash earned by those that they refer to KashKick. KashKick requires you to use a unique referral code, and the more people you sign up to participate on the platform, the higher your referral earnings will be.

How to Sign up with KashKick

Getting started with KashKick is easy. Head to the KashKick website and select a method of registration – PayPal, Facebook, Gmail, or directly with email. I went with the email option and you just enter in your email address and make up a password. Then you’re in.

KashKick state thats you must be a resident of the U.S. and be at least 18 years old. When you sign up, you’ll also agree to receive emails with promotional messages from KashKick.

One note: you need a PayPal account. KashKick cash and rewards are paid only through PayPal. You will be eligible to receive funds in your PayPal account once you have earned a minimum of $10. A nice thing about PayPal is that you can spend directly from there or transfer your money to a linked bank account. 

The KashKick Terms of Service agreement indicates a potential option to receive payment through KashKick gift cards. However, you can’t find this on the website anywhere, so it could have been removed.

Learn More About KashKick

Unclaimed Earnings

One of the biggest drawbacks to KashKick is its policy around inactive accounts. According to KashKick, accounts that have not been accessed for 90 days are considered inactive. If this happens, KashKick considers all verified earnings (that haven’t been cashed out) unclaimed. As a result, you may forfeit your earnings and KashKick may close your account.

Is KashKick Safe?

Yes. The amount and type of information you’ll need to participate on KashKick isn’t particularly sensitive and so we feel confident that it’s safe. For example, basic information, like your name, address, and email address, is already available from multiple sources. But you are not required to provide financial information, like access to financial accounts. Furthermore, PayPal is one of the most secure monetary transfer systems on the Internet.

Overall, KashKick should be seen as relatively safe.

Learn More About KashKick

KashKick vs. Competitors

Swagbucks

Swagbucks is another very popular GPT platform. It functions as a rewards site where you can earn points (convertible to cash) for searching the web, participating in surveys, playing games, fulfilling orders, installing toolbars on your computer, and watching videos.

Similar to other sites, Swagbucks pays your rewards in the form of PayPal transfers or gift cards. It has a lower minimum payout threshold than KashKick. You can redeem for Amazon gift cards as low as $1, or $25 in PayPal Cash. Unlike KashKick, Swagbucks offers a $10 signup bonus. For more information, check out our Swagbucks review.

Learn More About Swagbucks

Survey Junkie

Survey Junkie is perhaps the best-known of all paid survey sites. As its name implies, Survey Junkie is all about surveys. You’ll participate in surveys related to market research, which you can complete in a matter of minutes. Those surveys are performed by phone calls, journaling your experience with the product, or even doing product testing. Since Survey Junkie is so popular, it is able to offer what may be widest variety of survey opportunities in the industry.

SurveyJunkie uses a point system that’s converted to cash. Like KashKick, you must earn at least $10 to qualify to cash out. You can receive your rewards through gift cards or a PayPal transfer. Learn more in our Survey Junkie review.

Learn More About Survey Junkie

InboxDollars

Much like KashKick, InboxDollars enables you to earn rewards in cash without needing a points conversion. And similar to Swagbucks, those rewards can be earned by watching videos, completing surveys, fulfilling orders, shopping online, and much more.

The amount of compensation you’ll earn varies by assignment. For example, you’ll earn just a single penny for each email you click on or video you stream. But you can earn several dollars by fulfilling orders, which is a more complicated and time-consuming process.

The minimum cash out is high — $30, but you can receive payment by check, PayPal, or gift cards – your choice. InboxDollars offers a $5 sign-up bonus. Learn more in our InboxDollars review.

Learn More About InboxDollars

FAQs

Learn More About KashKick

Summary

KashKick is a solid GPT platform. It’s made improvements in recent years, most notably by adding iOS and Android mobile apps so you can earn on the go. Some websites report that KashKick is now available in Canada, however, its website states that you must be a U.S. resident. Until we hear further, consider the app off-limits north of the border.

Unfortunately, there is no welcome bonus — only a $1 credit for completing your profile survey when you sign up. Customer support is also lacking. There is no phone number or live chat option; it is just an online form to submit questions. That said, most GPT sites offer little support.

If you want to try out KashKick, we recommend combining it with other rewards apps, like the abovementioned alternatives. It’s the best way to increase your earning potential and have a fallback in case KashKick doesn’t turn out to be to your liking.

The post KashKick Review 2024: Is KashKick Legit? appeared first on Best Wallet Hacks.

SoFi Invest® is an online platform offering commission-free stock trading and automated investing. You can also trade options with no contract fees and save for retirement with various IRA accounts.

Initially launched as a student loan refinancing platform, SoFi® has expanded its product menu and become a full-blown financial superstore. It now offers banking, insurance, and loan programs. However, this review focuses on its investment product, SoFi Invest.

At a Glance

• Commission-free trading of stocks, mutual funds, and ETFs.
• Open an account with no minimum deposit required.
• Offers both self-directed and automated investment options.
• Provides 1% matching IRA contributions.

Get Started with SoFi Invest

Who Should Use SoFi Invest?

SoFi Invest is best suited to new and young investors, particularly those in their 20s and early 30s who are graduating from school and looking to begin their investment journeys.

As a student loan refinance provider, SoFi is tailored to the recent college graduate market. They built their program menu around this demographic. That includes offering the services of certified financial planners to help customers build a solid financial future. There’s also a social aspect to SoFi. As a member, you can be in contact with other members on the platform, gaining insight and even investment strategies from others.

Other factors favoring younger investors include no minimum upfront investment, commission-free trading, and the choice between self-directed investing or a no-cost automated management investment service.

SoFi Invest Alternatives  

Trading Fees	$0	$0	$0
Fractional Shares	Yes ($5 min.)	Yes	Yes ($5 min.)
Automated Investing	Yes	No	No
	Learn More	Learn More	Learn More

What Is SoFi Invest?

SoFi Invest offers a wide range of investment options under a single banner, but it’s actually made up of two companies: SoFi Wealth LLC and SoFi Securities LLC. The former provides automated investing and advisory services, while the latter provides brokerage services.

It offers individual and joint taxable brokerage accounts, plus IRAs – traditional, Roth, rollover, and SEPs. You can open a cash account and begin trading with as little as $1. However, if you choose to open a margin account, a minimum of $2,000 is required to open the account. Be aware that margin accounts are only available for taxable brokerage accounts, as IRAs are not eligible for margin trading.

Accounts not offered by SoFi Invest, which are usually available at competitors, include custodial accounts, education accounts, and certain retirement accounts, such as solo 401(k) plans.

Investments Offered

Through SoFi Active Investing, you can trade individual U.S. stocks, exchange-traded funds (ETFs), and options. As of 2024, SoFi is offering over 6,000 mutual funds to its investors.

You should be aware that SoFi Active Investing does not offer certain common investment types, including bonds, foreign individual stocks, futures, or FOREX. While it formerly did offer cryptocurrencies, that capability was eliminated at the end of 2023.

You can access a limited selection of alternative asset classes through dedicated funds for those assets. These include commodities, private credit, pre-IPO unicorns, and real estate.

Limited fractional shares. SoFi Active Investing does offer fractional shares for some stocks in minimum denominations of $5.

Get Started with SoFi Invest

IRA Matching Contribution

SoFi is one of a small handful of investment brokers offering a matching contribution on your IRA contribution. SoFi will provide a matching contribution of 1% on either a traditional or a Roth IRA contribution. The offer period runs until December 31, 2024. Only deposits made through a contribution via ACH transfer are eligible. 

The SoFi Community

Joining a growing trend, SoFi combines personal finance with the benefits of social media interaction. As a SoFi member, you can join the SoFi community and connect with other members to share investment ideas and other information.

Pricing

SoFi Active Investing has the following price structure for self-directed investing:

• Stocks and ETFs: $0 per trade.
• Options: $0 per trade + a $5 exercise and assignment fee (there is no indication if this is a per-trade or one-time fee).
• Mutual funds: $0 per trade charged by SoFi, but load fees may be associated with certain funds.
• Bonds and other fixed-income securities: not offered.

IPO investing. If you participate in IPO investments, there is a fee of $50 for the first sale of the security obtained through an IPO offering within 120 days of the IPO. There’s also a $5 fee for each subsequent sale of the security obtained through NIPA offerings within 120 days of the IPO.

Margin interest rates are a flat 11% (as of June 27, 2024).

Other fees charged by SoFi Invest include the following:

• Return checks, ACH, or wire and recall/insufficient funds: $30
• Outgoing ACATs: $100
• Incoming ACATs: $0
• Incoming wire transfer: $0
• Outgoing wire transfer: $25
• Paper confirmations: $2
• Paper statements: $5
• IRA closing fee: $20
• Inactivity fee: $25 per account for every six months of inactivity.

Get Started with SoFi Invest

Sign-up Bonus

SoFi currently offers a bonus of up to $1,000 in stock when you open and fund a new account. You must add a minimum of $10 within 30 days of account opening. The bonus is payable only to new Active Invest accounts.

The bonus ranges from $5 up to $1,000 in stock, but the probability of receiving the full $1,000 is only 0.028%.

SoFi Automated Investing

If you prefer managed investing, SoFi offers its Automated Investing service. The service will create a portfolio and manage it for you. This includes automatic rebalancing and allocating new deposits to target asset allocations.

Your portfolio will be created using ETFs representing various asset classes to achieve optimal diversification.

You’ll complete a questionnaire that will determine your risk tolerance, and your portfolio allocation will be based on the results of your answers.

You can begin investing with SoFi Automated Investing for as little as $1, and the service has no annual advisory fee. You can open your account with a one-time deposit or make recurring deposits.

SoFi Banking

Like many investment brokers, SoFi also offers banking services. That includes a high-yield checking account offering a current APY of 0.50% with no account fees and minimum deposit. The account has an ATM card with access to over 55,000 in-network ATMs. You’ll also receive overdraft protection of up to $50 with a direct deposit of at least $1,000.

As an added feature, the debit card offers roundups on purchases. Each time you make a purchase, the final payment is rounded up to the nearest whole dollar amount, and the change is added to your savings.

SoFi also offers a high-yield savings account, paying up to 4.20% APY (unlocked with direct deposit or by depositing $5,000+ every 30 days, otherwise 1.20% APY). There are no account fees and minimum deposit. You can take advantage of the AutoSave feature to gradually build your balance. The savings account offers savings vaults to help you fund specific spending goals. All accounts are insured by FDIC for up to $2 million through a network of participating banks.

Members can receive a bonus of up to $300 by opening either account and setting up direct deposit.

SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 10/31/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet

Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i)Banking> Savings> Current APY or (ii)Banking> Checking> Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.

Sofi has partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

SoFi Mobile App

SoFi Invest is available for Android users on Google Play and iOS devices on The App Store. You can access the trading platform and participate in stock trading, the SoFi robo-advisor (Automated Investing), and the social trading features.

The SoFi Invest Mobile App has a rating of 3.7 out of five stars among 2,300 iOS users and 3.8 out of five stars among 1,800+ Android users.

Customer Service

Customer service is available by phone and email from 5:00 AM to 5:00 PM Pacific time, Monday through Friday. Customer service for investing is not available on Saturdays or Sundays.

Account Security

Investments with SoFi Invest are covered by SIPC for up to $500,000 in cash and securities, including up to $250,000 in cash. The coverage is designed to protect against broker failure and will not apply if losses are attributable to market conditions.

Get Started with SoFi Invest

SoFi Invest vs. Competitors

Webull

Webull is an investment app that provides commission-free trading of stocks, options, and ETFs. It is designed primarily as a fast-trading app for investors on the go and is an excellent choice for short-term traders.

Unlike SoFi Invest, it doesn’t offer commission-free trading of mutual funds—in fact, it doesn’t offer mutual funds at all. Nor does it offer bonds or fixed-income investments, which parallels SoFi Invest.

Webull also offers free stock—20 free fractional shares—when you open a new account, deposit between $500 – $24,999.99, and maintain it for 30 days.

Webull is designed primarily as a fast-trading app for investors on the go and is an excellent choice for short-term traders. However, it doesn’t offer the range of financial services that SoFi does, like banking, insurance, and loan products.

Learn more in our full Webull review.

Get Started with Webull

Robinhood

Robinhood shares many similarities with Webull while offering an expanded menu of services. For example, while Robinhood offers commission-free trading in stocks, options, and ETFs, it also offers commission-free trading of cryptocurrencies, an asset class not directly offered by either SoFi Invest or Webull.

Robinhood also allows investors to participate in a limited number of pre-IPO stocks. It offers 5.00% APY on uninvested cash and a cash card that provides many of the benefits of a checking account.

Robinhood does not offer a managed investment service or provide anywhere near the level of financial services that SoFi does. However, it has an available matching IRA contribution of up to 3% on contributions to traditional and Roth IRAs.

Learn more in our full Robinhood App review.

Get Started with Robinhood

J.P. Morgan Self-Directed Investing

Like SoFi Invest, J.P. Morgan Self-Directed Investing offers commission-free trading of stocks, ETFs, and mutual funds. And in May 2024, they announced the addition of fractional shares for stocks and ETFs, for as little as $5.

J.P. Morgan provides investments that SoFi Invest doesn’t, particularly bonds and fixed-income investments. It’s a good choice if you prefer face-to-face customer service, as the company has bank branches through J.P. Morgan Chase in 48 US states.

Unlike SoFi Invest, J.P. Morgan Self-Directed investing doesn’t provide a matching contribution on IRAs. They also don’t offer an automated investment service, like SoFi Automated Investing.

Get Started with J.P. Morgan

FAQs

Get Started with SoFi Invest

Summary

If you’re a new investor, particularly coming out of school, SoFi Invest may be the ideal investment platform. It offers student loan refinances, banking, insurance, and loans, in addition to self-directed investing and automated investing options. It’s the perfect financial platform to begin your investment journey, while holding the potential to grow as your financial life expands.

If you’re a sophisticated investor, SoFi Invest may not be the best investment platform for you. The absence of fixed-income investments, including bonds, and the limited number of account types offered could force you to use the services of other brokers to fill the void.

The post SoFi Invest® Review appeared first on Best Wallet Hacks.

Otto Insurance is an online insurance lead generator that uses your personal information to match you with insurance companies that can offer you free quotes. Otto is not a direct insurance provider, nor is it an insurance broker. Therefore, you’ll obtain quotes and policies directly from actual insurance providers.

At a Glance

• One-stop insurance shopping
• Fast service
• Online process with no need to call in
• Works with hundreds of insurance providers
• Provides quotes for several insurance types
• Opt-out of marketing is available
• Customer service via email only
• Free to use

Who Should Use Otto Insurance?

Otto Insurance can be a valuable tool for anyone needing auto, home, life, or pet insurance. Shopping annually for insurance rates is part of a good budgeting system. 

When you use a service like Otto Insurance, shopping around for insurance policies becomes easier. You make one stop instead of having to call several different insurance companies. 

You’ll be able to see, at a glance, which insurance company is offering you the best insurance rates. 

Otto Insurance Alternatives

Aggregates Insurance Quotes	Yes	Yes	No
Types of insurance	Auto, home, renters, life	Auto and home	Auto, home, renters, life, condo, pet, and flood
Free Quotes	Yes	Yes	Yes
	Learn More	Learn More	Learn More

What is Otto Insurance?

Based in Miami Beach, Florida, Otto is an online insurance marketplace that connects users to auto, home, pet, commercial, and life insurance policies. 

The company claims that you can save more than $500 per year on your car insurance premium. And while Otto doesn’t disclose the number of participating insurance companies, they do indicate policies are provided by Nationwide, Esurance (Allstate), AAA Insurance, Farmers, Mercury Insurance, Liberty Mutual, Progressive, and American Family.

Online reviews mention several other big-name insurance company quotes through Otto Insurance as well.

One-Stop Shopping

Otto claims to have helped over 17 million consumers find the best insurance rates. To obtain a quote, you’ll complete a “quiz” rather than an application, as is typical of other insurance websites.

Otto will ask you to provide the following information:

• Zip Code
• Vehicle age
• Vehicle make and model
• Features of your vehicle
• The name of your current insurance provider
• Indicate your gender
• Your marital status
• Answer: what is your credit score? (Excellent, good, average, poor)
• Confirm your residence status
• Your birthdate
• Your first and last name
• Home address
• Email address
• Phone number

You’ll begin receiving quotes when you click the blue “Get Quotes” button. But before proceeding, you might want to read the fine print. Be aware you’ll be providing express written consent to receiving marketing information regarding insurance and related products. 

This could include automatic telephone dialing systems, artificial and prerecorded calls, SMS/MMS, and emails from both the Otto website and one of its many marketing partners at the phone number and email address you provide.

Otto deals with hundreds of insurance partners. I was also able to identify mortgage providers, financial services companies, web lead services, and many others I was unfamiliar with.

Several Types of Insurance

Otto offers its process for more than just auto insurance. You can get quotes for homeowners insurance, commercial insurance, life insurance, and even pet insurance. 

The process is similar for each type of insurance. While you can start the process over for each type of insurance, Otto’s system is set up so that the questions it asks for individual types of insurance are designed to help determine whether you need other insurance.

In other words, Otto is designed so that insurance companies will offer you a bundle package if you need it. Bundle insurance packages can help you save money on every type of insurance you need.

Pricing

Otto doesn’t cost you anything as a consumer to use. However, it’s safe to say they may make a commission when you choose to go with one of the carriers they quote.

Of course, you’d have to access that carrier through Otto in order to be guaranteed the price they quote, so you may want to keep that in mind. 

Customer Service

The only way to contact Otto Insurance’s customer service  is by email through a contact link on their website. Since Otto Insurance is a gathering place for insurance quotes and can’t answer questions about the quotes, there’s really no need to contact them often. 

Third-Party Reviews

The one area in which Otto Insurance doesn’t do well is in the area of third party reviews. 

Trustpilot gives Otto a score of 2.4 out of 5 stars (as of this writing). The Better Business Bureau gives Otto Insurance a rating of B-. 

Both sites have numerous reviews expressing frustration at receiving a large number calls and emails from partner companies. Note that Otto does give you the option to opt out of receiving solicitations. 

The positive reviews on Trustpilot largely revolve around customers getting insurance rates that are lower than what they had previously been paying. 

Otto Insurance Alternatives

Everquote

Everquote provides a service similar to Otto Insurance. They don’t provide insurance, but instead work to connect you with insurance providers in order to help you track down the lowest rates. 

Everquote focuses on auto, life, home, and renters insurance. Like Otto Insurance, it is free of charge. 

Expect that Everquote, like Otto Insurance, will send your information to dozens of insurance providers and that you will receive phone calls, texts, and emails from potential insurance providers. 

Visit Everquote

Insurify

Insurify works similarly to Otto Insurance. You answer a few questions, and then Insurify gets quotes for you from several other insurance companies. 

As with Otto Insurance, it’s free to use Insurify. The company gets paid by insurance companies when you get a policy through them. One thing that stands out about Insurify is that you’ll be talking with an actual customer service rep through Insurify, whereas Otto Insurance and other similar companies are often automated.  

Insurify has a 4.8 rating on Trustpilot. There were several reviews that boasted of great customer service and money-saving results. 

Visit Insurify

Liberty Mutual

Liberty Mutual is a long-standing insurance provider that offers auto, home and renters insurance, including condo insurance. 

You’ll get online quotes with no obligation. Although Liberty Mutual is different from other companies mentioned here in that it is an actual service provider instead of an insurance marketplace, the decades-long reputation of Liberty Mutual ensures that you’ll be quoted a competitive price. 

That being said, it’s important for you to do your own online research, as service is just as important as price when it comes to insurance — and most other things in life. 

Visit Liberty Mutual

FAQs 

Summary

Otto Insurance offers an easy way for you to get insurance quotes from several different insurance companies at once.  Otto Insurance is a legitimate lead-generating website but not an actual insurance company. The site serves as an aggregator, linking applicants with participating insurance companies

The post Otto Insurance Review: Is it Legit? appeared first on Best Wallet Hacks.

Upright is a bit different from other real estate crowdfunding platforms in that it focuses almost entirely on the lending side. They provide loans to real estate developers and rehabbers for short-term financing. Investors participating on the platform buy individual slices of those loans. This means as an investor, you can earn a fixed interest rate on short-term notes, with durations ranging from three months to 24 months.

Because the notes are secured by the underlying real estate and represent an obligation of the real estate developers and rehabbers, default rates on these loans range from extremely low to nonexistent. This means you can earn an average return of 10% or more, with very little risk of principal loss that may occur if you were to participate in similar projects as an equity investor.

At a Glance 

• Invest with as little as $1,000.
• Average annual returns of 10% or more.
• There are no fees paid by investors.
• Investments are in short-term notes on residential real estate projects.
• Very low rate of default.
• Requires accredited investor status.

Who Should Use Upright?

First, you must be an accredited investor to invest with Upright. The platform is best for those who want to diversify their investments with real estate development but don’t want to flip houses themselves.

Also, you cannot take distributions of your principal from the investment until the loan is repaid. This means that you should not invest money that you may need in the short term. Investors looking for liquidity should look elsewhere. However, if you are comfortable committing your funds to this investment, then Upright is certainly worth considering.

Upright Alternatives  

Accepts non-accredited investors	Yes	No	Yes
Types of properties	Single-family properties	Commercial	Single-family and small multifamily properties
Minimum investment	$100	$5,000	$10
	Learn More	Learn More	Learn More

What Is Upright?

Upright is a real estate crowdfunding platform where you can invest in notes that represent slices of loans made to real estate developers and property rehabbers. It’s a completely passive form of real estate investing since you will be receiving interest on your investment, with a predetermined maturity and a full return of your original investment principal.

You can invest in either individual notes on specific properties or choose to invest in one of three different funds. Each fund holds loans against multiple properties, providing you with a portfolio of notes to invest in.

The company was founded in 2014 as Fund That Flip and still functions as Fund That Flip, Inc. DBA (doing business as) Upright. The company is based in Cleveland, Ohio, and has managed more than $2 billion in real estate investments.

Available Accounts

Upright can accommodate individual or joint taxable accounts or a type of retirement plan known as a self-directed IRA (SDIRA). This is a special type of IRA that allows you to invest in non-traditional assets, the kind not typically offered by banks or investment brokers. These assets include direct ownership of real estate, real estate loans, private equity, and even artwork.

It is also possible to open an account with Upright for a company or a trust.

Whatever type of account you would like to open, a minimum of $1,000 is required.

Investments Offered

Upright is a real estate crowdfunding platform that enables you to invest primarily in short to medium-term notes secured by residential real estate. However, they do offer equity positions through one of the three funds they provide.

As an investor on the platform, you’ll have the ability to invest in either individual notes or to choose among one of three funds, each of which holds a portfolio of real estate notes. The emphasis on real estate notes means that Upright offers largely passive investments with an extremely high likelihood of full repayment at the end of each note term.

The company has originated more than $2.6 billion in loans, paying investors an average gross yield of 10.8%. They claim that 99.7% of the principal invested has been returned to investors. The company accepts only between 6% and 8% of all projects submitted for funding, indicating a strict vetting process.

Upright operates as both a hard money lender and a private lender, focusing exclusively on residential properties. Loans offered include portfolio loans, new construction loans, and rehab loans.

Borrower Dependent Notes (BDN) – Individual Notes

• Minimum investment: $5,000
• Term: 3 – 24 months
• Projected returns: Up to 13%, with an average of 10.8%
• Distributions: End of term

Borrower Dependent Notes provide an opportunity to invest in short-term, high-yield project notes with fixed interest and maturity dates. Loans are made primarily to developers with returns projected as high as 13%. 

Upright underwrites and originates loans that investors can purchase to earn a stable income. Loan terms run longer with individual notes than with other investments on the platform, extending to as long as 24 months.

Go to Upright

Pre-Funding Note Fund (PFNF)

• Minimum investment: $1,000
• Term: 3, 6, 9, or 12 months
• Projected returns: 10% average
• Distributions: Monthly

Referred to as simply “Pre-Fund,” this fund enables you to invest in a line of credit that funds every loan underwritten and originated by Upright. Even though the term “line of credit” is used, the principal raised is used to fund first-position mortgage loans secured by the underlying properties. 

Returns average 10% annually, and the company claims the fund’s track record is “100% interest paid, 100% principal repaid, 100% on time.” 

One of the big advantages of this fund is that you can participate with as little as $1,000, which will provide you with access to a portfolio of notes. In addition, the fund provides monthly distributions, making it a good choice if you are looking for a regular income.

Horizon Residential Income Fund (HRIF)

• Minimum investment: $15,000
• Term: 12 months minimum
• Projected returns: 10% – 13%; Preferred, 8%
• Distributions: Quarterly

Also called the Horizon Fund, this is Upright’s flagship investment fund. It utilizes the tax advantages of a real estate investment trust (REIT) and invests in short-term residential mortgages, with an emphasis on providing current income. 

Since the fund uses the REIT structure, it offers similar tax advantages. Because the fund invests in loans secured by multiple properties, investors can take advantage of a ready-made, fully managed loan portfolio.

Blueprint Fund 

• Minimum investment: $15,000
• Term: 12 months or more (up to 24 months)
• Projected returns: 11% – 14% net
• Distributions: Monthly or quarterly

The Blueprint Fund is invested in a diversified portfolio of residential mortgage loans for new construction. However, the Blueprint Fund introduces an equity offering through the fund’s Equity Membership, with an expected return of between 11% and 14% on a net income basis. 

The Fixed Maturity Debt portion of the fund provides monthly distributions, while Equity Membership pays on a quarterly basis.

The fund invests in first-lien positions in residential new construction with short-term mortgage loans. The Fixed Maturity Debt allocation is designed to provide current income, as well as portfolio diversification. To improve performance and stability, loans are made only for residential housing located in growing market areas.

Go to Upright

Pricing

Upright does not charge fees to investors on the platform. Instead, fees are paid by property developers and borrowers when loans are originated. The annual returns provided by Upright are net of those fees paid by property developers and borrowers.

Customer Service

Customer service can be reached by phone at (646)895-6090 (Option 2 for investors), though no hours of contact are specified. You can also direct email the company at info@upright.us.

The company can also be accessed from popular social media sites, including Instagram, LinkedIn, YouTube, X (Twitter), and Facebook.

Account Security

Upright uses Plaid to provide secure transfers of financial data, though investors can choose to opt out of this service. The company does not share your information except with affiliates, though you do have the right to opt out of that activity as well.

It’s important to understand that as an alternative investment platform, Upright investments are not covered by FDIC or SIPC insurance.

Upright Alternatives

Arrived

Arrived is another popular real estate crowdfunding platform. It has some major advantages over Upright in that accredited investor status is not required, and you can begin investing with as little as $100. That makes it an excellent choice for new and small investors who want to begin investing in real estate through crowdfunding platforms. 

Similar to Upright, Arrived claims average annual returns on investment of at least 10% and offers a truly passive investment.

With Arrived, you will invest in individual, single-family properties. The minimum investment is $100, but it can be as high as $20,000. Income is distributed quarterly, and investments can be held in an SDIRA or a taxable account.

Read our full Arrived Review.

Visit Arrived

EquityMultiple

EquityMultiple differs from Upright in that it focuses on commercial real estate rather than residential. It is similar in that it does require accredited investor status. The minimum investment is $5,000, which is considerably higher than the $1,000 minimum for Upright’s Pre-Funding Notes Fund. 

This crowdfunding platform offers investments in high-yield, professionally managed commercial real estate. Like Upright, only a small percentage of projects reviewed are accepted for investment purposes.

EquityMultiple offers investments in three different categories, Keep, Earn, and Grow. Keep is considered something of a savings account alternative, with competitive interest rates higher than those offered by certificates of deposit. These investments run for no longer than nine months and have an average annualized return of 7.4%.

Earn works similar to Keep investments, but with higher returns. It invests in a combination of senior debt, with target returns of 12%, and preferred equity, with returns of 14%. The minimum investment is $20,000.

Finally, Grow offers equity investments with a targeted net return of at least 18%. As the name implies, this offering focuses on principle growth and requires a minimum investment of $25,000.

Read our full EquityMultiple Review.

Visit EquityMultiple

Groundfloor

Much like Arrived, Groundfloor does not require accredited investor status. Investors can participate in this real estate crowdfunding platform for as little as $10, and there are no fees charged to them. 

Similar to Upright, Groundfloor investments focus on short-term, high-yield real estate loans. These loans have terms of between 12 and 18 months, with an average annual return in the 10% range. Also like Upright, loan investments are first-lien positions, making them more secure than other financing arrangements.

Groundfloor loans are secured by non-owner occupied residential real estate, limited to 1 to 4 units. The company does not invest in apartment buildings or commercial projects, as some crowdfunding platforms do.

Groundfloor does provide equity investments (through Groundfloor Labs) for higher returns, but those investments do require accredited investor status.

Read our full Groundfloor Review.

Visit Groundfloor

FAQs 

Summary 

Upright can be an excellent way for accredited investors to gain access to real estate investing without buying and managing individual properties. 

The platform mostly offers investing in short-term notes. These don’t provide returns as big as equity investments on other platforms, but they are more secure and offer steady, double-digit returns. 

This type of investing should not be viewed as a replacement for fixed-income investments, such as bonds or certificates of deposit, but rather a diversification into a hard asset, like real estate.

The post Upright Review: Real Estate Crowdfunding for Accredited Investors appeared first on Best Wallet Hacks.

But with most investment platforms offering their own versions, how do you know which paper trading platform is right for you? To eliminate the guesswork, we've compiled a list of seven of the best stock market simulators available today.

	Best For	Learn More
	Overall	Learn More
	Charles Schwab Investors	Learn More
	Futures trading	Learn More
	Options trading	Learn More
	Unlimited simulated trades	Learn More
,	Trading on the go	Learn More
	International investing	Learn More

eToro Demo Account

Best for: Best Overall

• Pricing: Free virtual account
• What is it? $100k
• Assets: Stocks, crypto, commodities, and more in real-time
• Noteworthy Feature: CopyTrader allows you to learn from top traders

Get Started With eToro

The eToro Demo Account gives you $100,000 in virtual trading funds to help you become a better trader. You can practice trading with stocks, exchange-traded funds (ETFs), and even cryptocurrencies. As with other stock market simulators, there is no cost to use the Demo Account. Log into the platform, click on “Switch to Virtual,” and begin to practice trading in real-time.

Using the Copy Top Investors feature, you can use advanced analysis tools to follow each security’s real-time trends and connect with successful cryptocurrency traders. eToro even allows you to increase your Demo Account balance by up to $100,000 simply by opening a ticket with customer service. Once you begin trading with real money, you can trade stocks, options, and ETFs commission-free. If you want to trade cryptocurrencies, eToro charges a flat fee of 1% of the buy or sell price.

To learn more, check out our full eToro review.

Get Started With eToro

Charles Schwab thinkorswim paperMoney

Best for: Charles Schwab investors

• Pricing: Free virtual account
• Buying Power: $100k
• Assets: Stocks, options, futures, and Forex
• Noteworthy Feature: Increase your buying power using margin in paperMoney

Get Started With Charles Schwab

Charles Schwab offers its paperMoney stock market simulator through its thinkorswim trading platform, which it acquired when it took over TD Ameritrade. The thinkorswim platform has long been regarded as one of the top trading platforms in the industry. It is now incorporated into Schwab, the largest retail investment broker in the world. 

You can use paperMoney to trade directly on thinkorswim, starting with $100,000 in virtual buying power free of charge. It will enable you to trade equities, options, futures, and forex. You can change tool settings and organization as you experiment, then track and evaluate your performance with virtual trade data, including profit and loss analysis.

Your trading power isn’t necessarily limited to $100,000. That’s because you can increase your buying power on options trades to up to $200,000 by using margin within paperMoney. Once you’re done with paperMoney, Schwab offers educational tools and Schwab Coaching webinars so you can continue to sharpen your investment skills.

See the latest Charles Schwab promotions.

Get Started With Charles Schwab

NinjaTrader Futures Trading Simulator

Best for: Futures trading

• Pricing: Free
• Buying Power: Unlimited
• Assets: Futures
• Noteworthy Feature: Free backtesting engine

Get Started With NinjaTrader

The best part of NinjaTrader is that it specializes in futures trading. The worst part of NinjaTrader is that it only accommodates futures trading, which limits its usefulness. However, it makes our list because some investors invest primarily in futures. If that’s you, NinjaTrader might be your go-to platform.

Unlike other simulators, NinjaTrader’s Futures Trading Simulator is unlimited. You can make as many virtual trades as you like, and there are plenty of features for futures traders. You’ll trade using live-streaming market data; the service even offers free back-testing using historical data. You can even replay, using historical market data as if it were playing out in real time on your trading platform. The simulator also gives you the ability to control your data feed so you can test automated strategies.

Get Started With NinjaTrader

E*TRADE Paper Trading Options

Best For: Options trading

• Pricing: Free (included with Power E*Trade platform)
• Buying Power: N/A
• Assets: Options only
• Noteworthy Feature: Use the customizable options chain to execute various options strategies, including custom and four-legged spreads

Get Started With E*Trade

E*TRADE offers its Paper Trading Options program to help investors sharpen their options trading skills. Unfortunately, the virtual account is unavailable for other securities, like stocks and ETFs. Paper Trading Options is linked to E*TRADE’s Power E*TRADE web platform, so your virtual experience would translate directly into real-world options trading.

Power E*TRADE investors can access advanced interactive charts, more than 100 technical studies, and preset scans. The platform is available as a web and mobile app and allows traders to trade stocks, ETFs, futures, and options.

Even though E*TRADE’s Power E*TRADE Paper Trading centers on options, E*TRADE is a full-service investment broker. In addition to stocks and ETFs, it offers mutual funds, bonds, certificates of deposit, prebuilt portfolios, and initial public offerings (IPOs). Like most other investment brokers, E*TRADE allows you to trade stocks and ETFs commission-free, with no commissions for options, plus a $0.65 per contract fee.

To learn more, check out our full E*Trade review.

Get Started With E*Trade

TradeStation Trading Simulator

Best For: Unlimited simulated trades

• Pricing: Free
• Buying Power: Unlimited
• Assets: Stocks, options, futures
• Noteworthy Feature: Use the customizable options chain to execute various options strategies, including custom and four-legged spreads

Get Started With TradeStation

TradeStation’s Trading Simulator is available with unlimited virtual funds. That means you can get plenty of practice on the platform, whether you're a beginner, intermediate, or advanced investor. The simulator is designed to look just like real trading, except you’re not using real money. You can also back-test stocks, options, and futures by leveraging decades of historical market data. This enables you to run “what if” scenarios under several known market conditions. 

All trade simulations are done in real-time. It’s also possible to test strategies automation, advanced orders, and alternate market types. The simulator provides trend, momentum, relative strength, and mean reversion indicators. Like other simulators on this list, there is no charge to use TradeStation’s Trading Simulator.

TradeStation is a popular brokerage platform for active traders. In addition to stocks, options, and futures, you can invest in futures, options, mutual funds, and ETFs.

To learn more, check out our full TradeStation review.

Get Started With TradeStation

Webull Paper Trading

Best For: Trading on the go

• Pricing: Free
• Buying Power: Unlimited
• Assets: Stock and options
• Noteworthy Feature: Includes over 50 technical indicators and 12 charting tools

Get Started With Webull

Webull was designed as a trading app to allow investors to trade on the go. As a result, it’s a simple platform with more limited investment options than large brokers like Schwab and Fidelity. For example, it doesn't offer mutual funds or fixed-income investments. But you can trade stocks, options (including index options), futures, ETFs, and over-the-counter stocks. Meanwhile, the pricing is among the lowest in the industry, with no commissions for trading stocks and ETFs and no commissions on options (there is a $0.55 per contract fee).

Webull's Paper Trading feature uses the same trading platform you will use for live trading. Paper Trading provides unlimited virtual cash, so you can trade as often as you like, even well beyond the beginner stage. The simulator comes with real-time data, including quotes, integrated charts with indicators, and the ability to set up price alerts. It also offers over 50 technical indicators and 12 charting tools. The simulator can be used for both stocks and options.

To learn more, check out our full Webull review.

Get Started With Webull

Moomoo Paper Trading

Best For: International investing

• Pricing: Free
• Buying Power: $1 million for stocks and options, $10 million for futures
• Assets: Stocks, options, futures
• Noteworthy Feature: Available to non-U.S. residents in select countries

Get Started With moomoo

Moomoo isn't exactly a household name on the investing scene, but it may be soon. That’s because, in addition to providing investment broker services in the U.S., the platform is available to residents of Canada, Singapore, Australia, Japan, and Malaysia. It provides commission-free trading of U.S. stocks, options, and ETFs, and allows U.S. residents to invest in the Hong Kong and Chinese A-Shares markets. The company also pays a very generous bonus interest rate on uninvested cash. 

Moomoo accommodates investing in U.S. stocks, over-the-counter (OTC) stocks, American Depositary Receipts, or ADRs (for the purchase of foreign stocks), ETFs, options, and index options. Unfortunately, it does not allow investing in mutual funds or fixed-income investments. Not only can stocks, ETFs, and options be traded commission-free, there are no contract fees on options trades.

Paper Trading enables you to test investment strategies with real-world market data and outcomes. It’s available for desktop and mobile platforms to trade stocks, options, and futures. Paper Trading comes with $1 million in virtual currency.

To learn more, check out our full moomoo review.

Get Started With moomoo

What Is a Stock Market Simulator?

A stock market simulator is a service that allows you to make investments without using real money. Most online brokerages will provide a stock market simulator with anywhere from $100,000 to as much as $1 million in virtual money, and a couple even offer unlimited virtual money.

The stock market simulator integrates with the broker’s primary investor platform. This allows you to learn on the platform you will use when you trade for real.

You can use a stock market simulator until you reach a point where you feel comfortable enough with your investing skills to begin risking real money. At the core, you can think of a stock market simulator as a helpful risk reduction strategy.

Related: Best Stock Trading Apps

What to Look for in a Stock Market Simulator

While stock market simulators vary in the features they offer, they have many similarities. Here are some of the key features to look for:

• A generous amount of virtual cash so you're not limited in the number of trades you want to make.
• It should allow you to move seamlessly from the simulator to live trading.
• It should accommodate the types of trading you plan to do. That can be stocks, options, futures, or even cryptocurrencies.
• It should be free to use with the broker account.
• Choose a broker that offers customer support and/or educational tools for the simulator – after all, most people who use simulators are investing rookies.
• It should remain available after you exit the beginner stage. No matter your experience level, there’s always a new strategy to be tested.

The seven best stock market simulators listed above check off most of these boxes and any are a good choice as long as the available securities align with the type of investing you plan to do.

FAQs

Summary

As you can see, there is no shortage of stock market simulators to choose from. However, before you choose a platform and begin to practice trading, remember this. No stock market simulator is going to turn you into Warren Buffett in 30 days or less. However, it can help you understand the language of investing, and how to execute trades. It can even help novice or intermediate investors get better results without taking on additional risk. Regardless, you'll be a better investor for having used a stock simulator.

The post 7 Best Stock Market Simulators  appeared first on Best Wallet Hacks.