Facebook Marketplace: A Treasure Trove for Your Wallet

I’ve always been a bit of a hoarder. I mean, who can resist a good bargain? But over the years, my collection of “bargains” has grown to the point where my house was starting to feel more like a warehouse than a home. It was time for a purge.

I considered donating everything, but I knew I could probably get a decent amount of money for some of the items. That’s when I remembered Facebook Marketplace. I’d seen people selling everything from furniture to clothes on there, but I’d never actually tried it myself.

Getting Started: A Breeze

Setting up a Facebook Marketplace listing is incredibly easy. All you need is a Facebook account. Once you’re logged in,you should see a shortcut to Marketplace on the left-hand side of your screen. Click on it, and you’ll be presented with a few options.

  • Selling: This is where you’ll list your items.
  • Buying: This is where you can find items for sale in your area.
  • Saved: This is where you can save items you’re interested in buying.

To sell an item, click on “Selling.” You’ll then be prompted to upload a photo of the item, add a title and description, and set a price. You can also choose to allow offers.

Tips for Successful Selling

Here are a few tips to help you sell your items quickly and for a good price:

  • Take high-quality photos: People are more likely to buy an item if they can see it clearly.
  • Write a detailed description: Include the condition of the item, any defects, and any accessories that are included.
  • Be flexible with your pricing: If your item isn’t selling, you may need to lower the price.
  • Respond to messages promptly: People appreciate sellers who are responsive.

The Benefits of Selling on Facebook Marketplace

There are many benefits to selling your used household items on Facebook Marketplace. Here are just a few:

  • It’s free: There are no fees associated with selling on Facebook Marketplace.
  • It’s easy: Setting up a listing is quick and simple.
  • It’s convenient: You can sell your items from the comfort of your own home.
  • It’s a great way to declutter: Selling your unwanted items can help you declutter your home.
  • It can be profitable: You can make a decent amount of money by selling your used items.

My Experience

I was pleasantly surprised by how easy it was to sell my items on Facebook Marketplace. I listed a few pieces of furniture,some kitchenware, and a few books. Within a few days, I had sold everything. I was able to make enough money to pay off a credit card bill.

Beyond Household Items

While I primarily used Facebook Marketplace to sell household items, you can also sell a wide variety of other items on the platform. For example, you can sell clothes, electronics, toys, and even vehicles.

Safety Tips

When meeting someone to sell an item, it’s important to be safe. Here are a few tips:

  • Meet in a public place: Don’t meet someone at their home or in a remote location.
  • Bring a friend with you: It’s always a good idea to have someone else with you when meeting a stranger.
  • Trust your gut: If something doesn’t feel right, don’t do it.

Facebook Marketplace is a great way to save money by selling your used household items. It’s free, easy, and convenient.If you’re looking to declutter your home and make a little extra cash, I highly recommend giving it a try.

Choosing the Best Online Broker for Your Stock Investments: A Personal Journey

investment-brokers

When I first began investing, the world of stocks and online brokers seemed like an intimidating maze. I would hear about the big players—Warren Buffett, Peter Lynch—and think to myself, “What chance do I have navigating such a complex world?” It took me some time to realize that the stock market is open to everyone and not just the privileged few with degrees in finance or insider connections.

As someone who started with almost no knowledge of the financial market, I found that the key to success was not just learning about stocks but choosing the right online broker to help me achieve my investment goals. A broker is more than just a platform to buy and sell stocks—they are a partner in your financial journey, a source of advice, and sometimes, a means of saving (or wasting) money.

In this blog post, I will walk you through my personal experience of choosing the best online broker and why it matters. I will also explore the various options that help save money, such as brokers offering free trades, higher interest rates on uninvested cash, and how to align your choice of broker with your investment strategy.

Understanding What You Need in an Online Broker

Before diving into the options, it’s important to define what you, as an investor, are looking for. The perfect online broker for you might not be the same as the one that’s perfect for me. So, let me break down some of the key factors that can make or break your decision:

  1. Trading Costs: This was my first concern when I began investing. I had a limited budget, and the idea of spending $7 or $10 per trade seemed like a huge barrier. If you’re someone who’s just starting or plans to make frequent trades, the cost per trade is crucial.
  2. Account Minimums: Some brokers require a minimum account balance to start trading. Back when I was new to investing, some of these minimums seemed unattainable. Thankfully, there are now brokers with no minimums at all.
  3. Investment Options: Are you interested in stocks, bonds, ETFs, options, or mutual funds? Some brokers offer a wide range of investment vehicles, while others specialize in specific assets.
  4. Platform Usability: A few years ago, I tried a brokerage whose interface felt like navigating a rocket ship. Too complex for my simple needs. A clean, easy-to-use platform is vital for both beginners and experienced traders alike.
  5. Research Tools: While I wasn’t keen on learning every technical indicator under the sun, having basic research tools—like analyst ratings, company performance data, and easy access to news—helped me make more informed decisions.
  6. Customer Support: If you’re like me and get nervous about handling significant sums of money, having reliable customer support can be a lifesaver.
  7. Interest on Uninvested Cash: It took me a while to realize how much of my money was just sitting idle in my brokerage account. Some brokers offer decent interest rates on your uninvested cash, which can add up over time.

My Personal Favorite Brokers (and Why)

As I grew more comfortable in my investing journey, I started looking for brokers that helped me save money while offering flexibility and security. Let me share with you a few brokers that I personally recommend based on these criteria.

1. Fidelity Investments

Fidelity was the first online broker I opened an account with, and to this day, I consider it one of the best. Here’s why:

  • Commission-Free Trades: Fidelity offers zero-commission trading on stocks, ETFs, and some options, which was a game-changer for me as a beginner. It allowed me to invest small amounts without worrying about trade fees cutting into my returns.
  • Great Research Tools: Fidelity provides excellent research resources, from stock screeners to in-depth reports by third-party analysts. For someone like me who needed a bit of guidance at the start, these tools were invaluable.
  • Interest on Cash: One of the things that attracted me to Fidelity was its high-yield interest-bearing account for uninvested cash. While other brokers may pay next to nothing in interest, Fidelity offers competitive rates.
  • Customer Service: Their customer service is highly rated, and from my experience, they are quick to help with any queries or problems.

While Fidelity is fantastic for long-term investors like myself, who appreciate low costs, solid research, and helpful support, it’s also perfect for beginners looking for a reliable platform with a broad selection of investment options.

2. Charles Schwab

When I began exploring more sophisticated trading strategies, Charles Schwab caught my attention. Schwab offers an excellent mix of low costs, comprehensive research, and a user-friendly platform.

  • Free Trades: Like Fidelity, Schwab also offers zero commissions on stocks and ETFs. Even options trading comes with a low per-contract fee, which was important as I started experimenting with options.
  • Schwab Bank: One standout feature for me is the integration with Schwab Bank, offering access to their High Yield Investor Checking account. This account pays interest and allows easy transfers between my checking and brokerage accounts, making cash management simpler.
  • Wide Range of Investment Products: Schwab offers just about every kind of investment under the sun, including a wide range of no-fee mutual funds, making it easy for me to diversify my portfolio.
  • Robo-Advisor (Schwab Intelligent Portfolios): When I didn’t have the time to manage my investments manually, Schwab’s robo-advisor automatically rebalanced my portfolio based on my risk tolerance and goals.
  • Top-Notch Customer Service: As someone who occasionally needs a bit of hand-holding, I can vouch for Schwab’s excellent customer support.

Schwab is a fantastic all-rounder, ideal for both beginners and more advanced traders.

3. Robinhood

Now, let’s talk about the elephant in the room: Robinhood. When Robinhood first came on the scene, it was like a breath of fresh air for me, especially when it came to saving money on commissions.

  • 100% Free Trades: Robinhood was one of the pioneers of commission-free trading. For someone who was making small, frequent trades, Robinhood became my go-to app in the beginning because there were no fees eating into my gains.
  • Simple Platform: What attracted me most to Robinhood was its simplicity. The app is designed to be intuitive, making it perfect for someone who just wants to trade without getting bogged down by advanced features.
  • Fractional Shares: One of the standout features of Robinhood is its ability to buy fractional shares. I didn’t always have $300 to buy a share of Apple, but Robinhood allowed me to invest as little as $1, which opened up a world of possibilities for my portfolio.
  • Cryptocurrency Trading: I dipped my toes into the world of cryptocurrency through Robinhood as well. The app allows you to trade Bitcoin, Ethereum, and other cryptocurrencies alongside stocks.

However, Robinhood does have its limitations. While it’s excellent for beginners and those looking to save on fees, it lacks the robust research tools and customer service of platforms like Schwab or Fidelity.

4. M1 Finance

For those who prefer automated investing but still want control over their portfolio, M1 Finance offers a unique blend of both.

  • No Fees: Like Robinhood, M1 offers commission-free trading, but what sets M1 apart is its automated portfolio management. You can set up “pies” of different investments, and M1 will automatically rebalance your portfolio to maintain your desired asset allocation.
  • Fractional Shares: M1 allows you to invest in fractional shares, making it easy to invest in pricey stocks without needing a massive upfront capital.
  • Interest on Cash: For M1 Plus members, they offer a high yield on uninvested cash, giving me a way to earn while I decide on my next investment.

M1 Finance is a fantastic choice for hands-off investors who want a hybrid between robo-advisors and DIY trading.

Tips to Save Money with Your Online Broker

I’ve talked about some of my favorite brokers, but saving money isn’t just about choosing a commission-free platform. Here are a few ways I’ve learned to save even more while investing:

  1. Use No-Fee ETFs and Mutual Funds: Both Schwab and Fidelity offer a range of commission-free ETFs and no-fee mutual funds. If you plan to invest long-term, these options can save you significant money in expense ratios.
  2. Automate Contributions: Setting up automatic contributions to your brokerage account ensures you’re consistently investing without needing to time the market. This strategy, known as dollar-cost averaging, also helps reduce the emotional decision-making involved in investing.
  3. Look for Promotions: Some brokers, including TD Ameritrade and Schwab, offer sign-up bonuses for new accounts. When I switched brokers, I earned cash rewards just for moving my portfolio.
  4. Optimize for Tax Efficiency: Be mindful of tax-efficient strategies. For example, investing in index funds often leads to lower tax liabilities due to lower turnover compared to actively managed funds.

A Personal Choice

At the end of the day, the best online broker is the one that aligns with your goals, investment style, and financial needs. For me, Fidelity remains my favorite for its well-rounded platform, zero commissions, and solid customer support. Robinhood was an excellent starter for cost-saving trades, but as my portfolio grew, I gravitated more towards Schwab for its research and additional features.

Choosing the right broker is not a one-size-fits-all decision. My advice is to weigh the factors that are most important to you—whether it’s saving money, ease of use, access to research tools, or earning interest on uninvested cash. By taking the time to carefully assess your options and prioritize your needs, you’ll find a broker that not only saves you money but also helps you grow your wealth in a way that aligns with your investment strategy. Ultimately, the best broker is the one that feels like a partner in your financial journey, offering you the tools, resources, and flexibility to achieve your long-term goals. Happy investing!

Family-Friendly Side Hustles: Earning Extra Income Together

Do family side hustles really help kids learn about money?

Balancing family life and finances can be tough, but what if you could earn extra income while spending quality time together? Family-friendly side hustles offer a way for families to work together, build new skills, and make money. Whether it’s starting a small business or offering a service, there are countless ways families can earn extra cash while having fun and learning something new. This post explores some of the best family side hustles and how to get started.

Why Start a Family-Friendly Side Hustle?

There are many reasons to start a side hustle as a family. Not only does it provide a way to earn extra income, but it also brings everyone together for a shared goal. Side hustles can teach children valuable lessons about hard work, responsibility, and money management.

A 2020 study showed that nearly 40% of Americans have a side hustle, and many families are jumping in too. Family side hustles also help parents set an example of entrepreneurship and problem-solving, all while creating additional financial security.

How to Choose the Right Side Hustle for Your Family

The best side hustle for your family depends on your interests, time, and resources. Think about what activities your family enjoys doing together and what skills you have. For example, if you love animals, pet sitting or dog walking might be a perfect fit. If your family is creative, you could sell homemade crafts or goods online.

It’s important to choose something that fits into your family’s schedule and that everyone can enjoy. Working together should feel fun, not like a chore.

Side hustle growth: Nearly 40% of Americans have a side hustle, according to a 2020 study, with many families joining the trend.
Skill development: Kids who participate in side hustles with their families are more likely to develop strong financial literacy and teamwork skills.

Top Family-Friendly Side Hustle Ideas

Here are some family-friendly side hustle ideas that can help you earn extra money:

Pet Sitting and Dog Walking

If your family loves animals, pet sitting or dog walking is an excellent side hustle. Many people need reliable care for their pets, especially during vacations or busy workdays. Your family can split the responsibilities, with kids helping to walk dogs or feed pets while parents handle bookings and customer communication.

This type of side hustle can be flexible, allowing your family to choose when and how often you work.

Selling Homemade Crafts or Goods

If your family enjoys making things, consider selling homemade crafts or goods. From handmade jewelry to baked goods or art, families can work together to create products and sell them at local markets or online platforms like Etsy.

In addition to earning extra money, this hustle allows kids to use their creativity and practice marketing skills. Parents can help with production, quality control, and managing orders.

Running a Family-Based YouTube Channel

Do you love filming family activities, adventures, or DIY projects? Starting a YouTube channel can be a fun way for families to earn income. Successful YouTube channels can generate ad revenue, sponsorships, and affiliate marketing income.

This side hustle requires some upfront work, like learning video editing and building an audience. However, it can be a creative outlet for the whole family, with everyone contributing in different ways—from on-camera talent to behind-the-scenes production.

Starting a Small Gardening or Landscaping Service

For families who enjoy being outdoors, a small gardening or landscaping service is another great option. Your family can offer services such as lawn care, planting flowers, or creating small gardens for neighbors or the local community.

Kids can help with simple tasks like raking leaves or watering plants, while parents handle more technical jobs. This side hustle is perfect for families who want to stay active and work together in nature.

Renting Out Family-Owned Property or Equipment

If you own extra equipment or property, consider renting it out to others. This could include things like renting out tools, sports equipment, or even a vacation home. Websites like Airbnb or Turo make it easy to list and manage rentals, providing a passive income stream for your family.

This type of side hustle doesn’t require a lot of hands-on work, making it an ideal option for busy families.

Balancing Family Time with Side Hustles

It’s important to maintain a healthy balance between family time and work. While side hustles can be rewarding, they should never take away from quality family moments. Schedule side hustle tasks during times that don’t conflict with important family activities, like meals or events.

In fact, your side hustle can enhance family time by giving you a shared project to work on. It’s like turning work into a fun family activity.

Building Financial and Life Skills as a Family

Side hustles aren’t just about money. They can teach children and parents important financial and life skills. Kids learn how to manage money, budget, and work as part of a team. Parents model entrepreneurship and time management, showing their children that hard work pays off.

According to a study, kids who engage in business activities early in life are more likely to develop strong financial literacy skills later on.

Tips for Staying Organized and Motivated

Staying organized is key to a successful family side hustle. Make sure to assign tasks to each family member based on their skills and interests. Use tools like calendars or apps to keep track of deadlines, clients, and projects.

To stay motivated, set small goals and celebrate successes together. Whether it’s earning your first $100 or landing a big client, take time to acknowledge each family member’s contribution.

Think of a family side hustle like building a puzzle. Each family member contributes a piece, and together, you create a complete picture. When everyone plays their part, the outcome is both rewarding and fun.

FAQs

What are the easiest side hustles for families?

Some of the easiest side hustles include dog walking, selling crafts online, or offering lawn care services. These allow flexibility and can fit into your family’s routine.

How much time do family side hustles take?

The time commitment depends on the hustle. Some side hustles, like renting out property, require minimal time, while others, like running a YouTube channel, may take more hours per week. Choose one that fits your family’s schedule.

Do family side hustles really help kids learn about money?

Yes! Side hustles give kids hands-on experience managing money, understanding profits and expenses, and learning the value of hard work.