There are a ton of budgeting apps out there, but many people end up using some sort of a spreadsheet for their budget.

Spreadsheets offer control and flexibility to users, and allows them to look closer at the transactions going through their accounts.

I have nothing against apps. Many people find them useful, and there’s no denying that there are a ton of good ones out there.

But I personally have used a budget spreadsheet for years and have found it useful. The more people I talk to about budgeting, the more I hear that people desire a spreadsheet-based budget without all the manual work that comes with it.

Today we finally have a budget spreadsheet in Excel that is automated and easy to update. But first let me tell you a bit about the budgeting process I’ve used in the past.

My Budgeting Process

 
I’m an Excel nerd so using a spreadsheet to budget was a no-brainer for me. I’ve had the same spreadsheet for over four years now. But why haven’t I shared it?

When I share spreadsheets and tools I want them to be as easy to use as possible. The biggest issue with spreadsheet budgeting is getting all the data in the proper format.

I have a number of credit cards due to credit card churning, plus throw in a bank account and you can see why it would take quite a bit of time to reformat everything. No two financial institutions seem to export data in the same format. So there’s a lot of work on the backend.

I didn’t want to share a budgeting spreadsheet until I solved this key piece of the puzzle. Fast forward four years and I still haven’t shared a spreadsheet.

That all changed when I discovered Tiller.

Tiller – The Key to Automation

 
Tiller is what I have been waiting for: it automates the process of pulling in your financial data into a clean, uniform format.

Now there are a ton of apps out there that link to your accounts. But they don’t allow you to dump your data into a spreadsheet because they either haven’t built a tool that can do that or they have a huge incentive to not allow their users to dump data into a spreadsheet.

Once you sign up for Tiller you simply have to connect your accounts and your financial transactions will be dumped into a Google Spreadsheet each day. They will come through in a uniform format that looks something like this:

 
Tiller does cost money. You can use my link for a free 30 day trial, but after that it’s $6.58/month. If you’re like me and spend an hour or more getting your data into a uniform format or have avoided budgeting because you don’t want to take the time to mess with your data, $6.58/month is well worth what you are getting in return for Tiller’s service. (Don’t worry they have a 60-day money-back guarantee as well).

Tiller has bank-grade security and has partnered with a company that works with some of the biggest banks in North America to ensure it’s up to the same high standards banks are held to. What was even more reassuring to me was hearing that their employees can’t even see your financial data. You can read more about their security and other features of their service on their website.

I’m all for Google Sheets, and Tiller absolutely can work simply using Google Sheets, but Excel is where it’s at if you want a clean and good-looking budget spreadsheet.

So I took it a step further and created an automated budget spreadsheet in Excel.

An Automated Budget Spreadsheet in Excel

 
Tiller is a great start, but my automated budget spreadsheet in Excel is where people will feel most “at home.” Excel is widely used and I’ve created a spreadsheet that someone with limited experience can use.

The spreadsheet has a directions tab that guides you through the process of updating the spreadsheet with your data. It also points out best practices that will help you not “break” the file.

 
The data tab is where you will want to paste your Tiller data. The data will then become part of a table that uses formulas to automatically populate the monthly summary tabs and the annual summary tabs.

Note that Tiller does not automatically populate the category for each transaction. Having the user populate the category allows the user to assign relevant categories and look at the transactions at a lower level of detail than they would if category was auto-filled.
 

 
On the categories tab you can add or delete categories as you see fit.
 

 
On the monthly summary tabs, everything is automated except for the budget column and the categories. You can add and delete categories as you see fit. You can unhide the hidden rows towards the bottom if you need to add more categories.

Everything is formula-driven, making it easy to see a snapshot for the month. While tabs have already been created for each month in 2024, you can easily make a copy of any of the months tab and choose a different month and year drop-down as you see fit. Everything will update automatically for whatever month you choose.
 

 
One additional thing included in this file is the annual summary. If you go to the 2024 tab you can see an annual summary of your income and expenses by month. This is automatically populated and you can easily make a summary for future years by choosing a different year from the drop-down.
 

 
This spreadsheet takes a lot of the manual work out of the budgeting process and gives you nice clean views of your financials, both budgeted versus actual as well as net inflow and outflow of cash.

My hope is that this easier process of importing and tagging data will encourage others to start budgeting. After all, using this process you can easily update your budget in less than 30 minute a month, perhaps even less than 10 minutes depending on how many transactions you need to tag.

But budgeting apps aren’t for everyone. For some a spreadsheet is the best way to budget.

With a spreadsheet you have total control. You can move rows and columns around and add information easily.

With apps you have to work within their user interface. It can be frustrating to work with.

The biggest issue with budget spreadsheets is that you have to manually add all the information. Peter Polson, the founder of Tiller Money, saw this problem as an opportunity. Tiller Money adds automation to the budget spreadsheet process.

I’ll start this review of Tiller Money by talking about the automation that it brings to spreadsheets, which is the primary reason someone would use Tiller Money.

You can try Tiller Money out for free for 30 days using our link. After the 30-day trial, Tiller will bill you $6.58 per month to continue using their services. You can cancel at any time.

Tiller Money Makes Spreadsheet Budgeting Automated

 
I’ve used a budget spreadsheet for nearly a decade now, but it’s changed over time.

I used to sit down at the end of each month and drop credit card and bank data into a spreadsheet. Then I would go through the time-consuming work of editing all the data so it was uniform. This became a bit easier as I got used to how each of the credit card companies structured their data, but it still took about an hour a month.

Part of the reason it took me a while was because my wife and I both like to take advantage of credit card rewards. That means we were often signing up for new cards and moving our spend to different cards.

But even if you only use a couple credit cards and a bank account it can still take some time to pull all that monthly spend data together and get it set up in the same format.

Tiller Money automates this step of the process. Tiller Money, using bank-grade security, allows you to link your accounts and have daily updates of all your transactions. Most importantly they put all this data in the exact same format and drop it in a spreadsheet. This was a big time-saver for me and something that didn’t exist prior to Tiller Money.

 
Tiller Money works out of Google Sheets, but they have a beta of an Excel add-in. I’ll talk about their budgeting template next, but first I want to share a little more about how I use Tiller.

I continued to use my budget spreadsheet in Excel and did not switch to Tiller Money’s Google Sheets budget template. Instead I copy and paste the transactions data into my Excel budget spreadsheet. I then have formulas that read off of that data, which in turn feeds into tabs for each month’s budget (i.e. January 2020, February 2020, etc.).

My favorite tab, though, is a tab that has a summary of income and expenses. It has the months across the top and the spend categories to the left. You can quickly and easily see the trend of your monthly spend, and going forward can correct as needed. (I actually do not budget monthly but instead use this tab to review my monthly income and expenses).

 
You can read more about my free automated budget spreadsheet in Excel or if you are ready to check it out you can have it sent to your inbox by filling in the box below (check your spam if you don’t see it in your inbox).

 
Next let’s take a look at the Tiller Budgeting template.

Tiller Money Budgeting Templates

 
You can do all your budgeting within the Tiller Google Sheet. Here’s a few quick screenshots of what it looks like.

First, here is the monthly budget sheet. Once you set your monthly budget you are good to go. Your income and expense data will automatically flow into the tab.

 
Next you have a full-year view of your income and expenses. This will automatically update as well.

 
Finally there is a tab where you can add additional budget categories. This will also have a monthly view of income/expense for each category.

 
There is also a “Transactions” tab that will pull in your data automatically. They have an add-on within Google Sheets for Tiller Money that drives the automation. Within the add-on you can select which accounts you want to pull in. One example where this is useful is with keeping personal and business transactions separate. I have one set up for my personal income and expenses and one for my business income and expenses.

Tiller Money Functionality

 
With new technology there is typically two questions that need to be asked:

• Does it save me time? If not, does it make me money, save me money, or enrich my life in some other way?

• How easy is it to use?

The first question is easy to answer. Tiller Money automates something that otherwise would have to be done manually. It saves you time, potentially more than an hour a month.

It also helps you improve your financial life because you can view the data on-demand. Once your accounts are set up any new transactions will flow into your Google Sheet. Whether you notice it directly or indirectly, you are likely to be more on top of your spending if you are checking your transactions daily or weekly instead of monthly. You also may be more likely to notice an increase in a recurring charge (internet, for example…) if you are checking transactions often. You can do this today by logging into your accounts individually, but Tiller pulls it into one place and automatically will compare your spend to your budget.

Ease of use is a different question that is more difficult to answer. I say that because the initial set-up process can take a little bit of time. You need to learn how Tiller’s budget spreadsheet works (and/or my free budget spreadsheet). You also need to link all your accounts.

This can take some time, but once everything is set up and you are comfortable using either the Google Sheet or the Excel spreadsheet you are essentially good to go. As I mentioned earlier I grab the transactions data out of Tiller Money and move it to my spreadsheet. Now that I have my accounts linked all I need to do is open the Google Sheet and grab the data from the “Transactions” tab. There is no other effort required for me to use Tiller Money. This should be comparable if you use their Budget spreadsheet, which also will be more or less automated once you get it set up initially.

How Much Does Tiller Cost?

 
You can try Tiller Money out for free for 30 days using our link. After the 30-day trial, Tiller will bill you $6.58 per month to continue using their services. You can cancel at any time.

Why isn’t Tiller Money free like Mint? Unlike Mint there are no advertisements in Tiller Money. Mint seems to constantly be trying to refer you to products and services, and it should be no surprise: they need to make money somehow.

Should You Try Tiller Money?

 
Given that this isn’t a free app after the 30-day free trial, it’s natural to wonder if Tiller Money is really worth the cost.

Trying it out with the free trial is really the only way to tell if Tiller Money will be worth it for you, but here is a few quick thoughts on who would likely benefit from using Tiller Money and who it likely won’t appeal to.

Tiller might be for you if:

• You prefer spreadsheets over apps

• You want an affordable way to track your money

• You like a snapshot of your entire financial situation all in one place

• You like to be able to customize your budget

 
Of course, Tiller isn’t for everyone. It might not be the best fit if:

• You have never used a spreadsheet before and have no desire to start

• You prefer the navigation and platform of an app

Try out Tiller Money for free: Use this link for a free 30-day trial to Tiller Money.

We aren’t alone, though: as of 2015 there was still approximately 100 million households that subscribed to some type of paid TV service purchased through either a cable, satellite, or phone company.

For us, the amount of money we spent on cable was simply unsustainable. My wife and I are frugal and don’t like to spend a ton of money on entertainment.

A concert or sporting event once in a while are good, but spending $160 a month for cable and internet? No thank you.

And let’s not forget the games that you have to play when you have cable. It’s incredible the length they go to gouge their existing customers.

I don’t miss the annual phone calls asking why my rate was increased by $30 or watching my bill like a hawk each month in case Xfinity tried to sneak in an increase. Granted, I do still have the same problem with their internet.

Despite the millions of subscribers they currently have, cable is an outdated industry that is slowly dying. Thankfully we live in a time of innovation where more and more competitors are answering the cry for straightforward pricing, affordable options, and great content.

In this post I will give you a step-by-step guide of how I cut cable, including what I replaced it with and what sort of savings we are looking at because of the cut (spoiler alert: the savings are huge!).

The first thing you want to do is get a Digital HDTV Antenna. This will allow you to receive all the free channels that don’t require cable or another service to view in your home.

These digital antennas aren’t what they used to be. In my attic there is a massive antenna. This used to be necessary…decades ago.

Flash forward forty years and we have paper-thin digital HDTV antennas that are many times more powerful than old analog antennas.

This digital antenna costs less than $30, has a 120 mile range, supports 4k 1080p and all older televisions, and comes with an 13-foot coaxial cable.

Easy first step, right? On to the next one.

The next step in cutting cable is getting a Roku.

I think it’s important to understand what a Roku is and what a Roku is not. A Roku isn’t a magical device that gives you access to unlimited free, premium content. I think of the Roku as more of a platform that allows you to add services, or “channels,” like Netflix, Amazon Prime Video, and any other number of streaming options.

Nevertheless, Roku is something you should purchase if you are going to cut cable. It has a simple, sleek user interface that I think most people will really enjoy. I’ve been using it for years, even before I cancelled cable.

The newest Roku option is the Roku Premiere. This is HD/4K/HDR compatible with an included remote and HDMI cable. It will cost you less than $40. There is also the Roku Streaming Stick+, which is what I use.

 
Alternatives to Roku include the Amazon Fire TV Stick and Apple TV.

Purchased your streaming device? Then you’re ready for the next step: picking your streaming options.

While cost and awful customer service are two big reasons people are ditching cable, another is the availability of streaming options. There are currently 100+ different streaming services, with many more set to release over the next couple of years.

Adding streaming options isn’t mandatory, but typically makes cutting cable more enjoyable. Depending on what sort of video content you consume, some may not even feel a difference when they switch from cable to streaming options.

Here are some of the more popular streaming options:

 
Netflix – Netflix has more than 139 million subscribers. Even if you haven’t cut cable, you likely already have a Netflix account. Netflix has a basic plan for $8.99 that does not offer HD (and I suspect has few users), a standard plan for $12.99 supports HD and streaming from two screens simultaneously, and a premium plan for $15.99 that supports ultra HD and allows streaming on four screens simultaneously.

I am a big fan of Netflix because I think the price is very reasonable for the content library. They have tons of original TV series and movies, and I appreciate the fact they are investing so much (billions) in their content.

 
SlingTV – SlingTV offers three different skinny bundles, two for $25 and one for $40. One of the $25 packages has ESPN while the other has Fox Sports One. The combined $40 version has both. But that’s not all the skinny bundles offer. They come with many popular TV channels like CNN, HGTV, TBS, FX, History, and many more. You can view all the options here.

I’ve used Sling off and on. Being able to watch live sports without a traditional cable plan is a big draw for Sling, but there’s many other channels that aren’t sports-related. There’s no contract, either, and you can start and stop as you please.

It’s also worth noting that with some shows you are able to stream on demand. For example there are a variety of History Channel shows where you can start with season one and watch at your pace, despite the fact Sling is a “skinny bundle” that has traditional cable channels.

 
Amazon Video – Amazon Video isn’t the best streaming service, as their library of content is lacking. With that being said, it’s included if you have a Prime account, which many purchase for free delivery. I’m one of those people, so any content I use on Amazon Video is essentially a bonus. The cost of Amazon Prime is $12.99 a month, or $99 a year (if paid annually). There is an HBO add-on for $15 a month that you can start and stop whenever you want.

 
YouTube TV – Similar to SlingTV, YouTube TV is a skinny bundle alternative to traditional cable. In reality, with 70+ live TV channels including sports and local TV, it feels more like a “hassle-free” and transparent version of traditional cable. The cost is $49.99 a month and like most streaming options, you can cancel anytime.

I haven’t used YouTube TV, but I’ve been tempted to give it a try. There is unlimited cloud DVR storage, and it includes all of the big sports channels such as ESPN and FS1, as well as the big news and lifestyle channels.

 
We’ve hardly scratched the surface here. There are many other options available, including Hulu, PlayStation Vue, CBS All Access, and fuboTV. The sheer number of options can be overwhelming, but remember with most of these services you can start and stop whenever you want. If you don’t find yourself using a service enough to justify the monthly cost, cancel it.

Purchasing a DVR is another optional step, but as someone who used to record a lot of shows using my cable DVR, it was an important feature for my cord cutting setup. (If you get YouTube TV you can skip this step since unlimited cloud DVR is included.)

There were two things I were looking for in a DVR: no monthly fee and a large amount of storage.

I found both of those in the Tivo Roamio. With 1 TB of storage capacity and no monthly fees, I was sold.

Unfortunately it appears that Tivo is back to pushing their subscription plans. That doesn’t mean you can’t find the Tivo Roamio anymore, you’ll just end up getting a refurbished one instead of a new one.

A good alternative Tablo Quad OTA DVR. This will run you approximately $250 and is a bit unique as it connects via WiFi, while most DVRs plug into the digital TV antenna.

Calling the cable company is never fun, and if you’re like me you have made many calls over the years and been forced to play their game of constantly putting existing customers through the ringer, squeezing every last dollar out of you until you are shaking with rage.

In an ideal situation you would be cancelling all services from your current cable provider. But for many of you the call will consist of asking for a service downgrade.

This was my situation with Xfinity. It was not an enjoyable call because the pricing games continued.

To prepare for the call I went to the Xfinity website and looked for rates that would be offered to someone moving into my house. This is an essential step I would take prior to calling to end your cable service.

After calling and having the agent twice offering me bundle deals, despite me telling him I wouldn’t accept even if they were dirt cheap, he said the best deal he could give me at my current internet speed of 100 mbps was $74.99/month.

My first thought was: this is insane! But not surprising, unfortunately.

I tried to stay calm but it’s tough when you’ve been through this so many times before. I told him I had a screenshot that showed a new customer would receive a rate of $59.99 for 12 months with no contract.

I also told him I could literally cancel right now and with one click my wife would be set up with the lower rate, so why don’t we save each other time and just honor the rate?

We then went back and forth for over five minutes of why new customers are given better rates. It wasn’t until I said these pricing games and awful treatment of existing customers are the main reason we are getting rid of cable, and if they don’t honor the rate right now we were leaving for a competitor’s offering.

I was put on hold and all of a sudden they could give me the new customer rate.

Bottom line: always be prepared when it comes to negotiations with the cable company. Arm yourself prior to your call and know what rates they are offering to new customers.

You are virtually guaranteed to save money by cutting cable out of your budget, even if you tack on extra streaming options like we did.

Our cable bill was $157/month. Even more unfortunate is that this is on the “low” end of cable and internet bundles. Keeping it this low required annual calls to Xfinity and one time a very real threat to cancel all our services with them (internet included).

Our new cost is $60/month for 100 mbps internet. It’s no contract, which is great as I like the flexibility and leverage it gives us.

There is clearly some startup costs involved with cord cutting, but if you forgo purchasing the DVR for $250 the costs are minimal. Quality digital antennas are available for less than $30. Roku or other streaming sticks are typically around the $50 price range.

Even if we spend an average of $50 a month on streaming options, we’d save approximately $50 a month, or $600 a year. If we spend $20 a month on streaming options we’d save approximately $80 a month or nearly $1,000 a year.

 
Cutting cable has never been easier, nor has there ever been so many alternative entertainment options. If you’ve ever thought of cutting cable, now is the time.

Because this was a massive post, here’s a quick summary of everything I purchased and recommend purchasing to cut cable:

• HD Digital Antenna: Amplified HD Digital TV Antenna With 120 Mile Range

• Streaming Hardware/Software: Roku Premiere

• DVR: Tablo Quad OTA DVR

Nearly everyone, including business owners, has a presence on social media – whether it be Facebook, Instagram, Twitter, or all of the above!

Social media gives us the ability to connect with people on a wider scale, promote our businesses across platforms, and network with some of the greatest minds in our industry.

For that reason, having a strong presence and dynamic social media strategy can be essential to growing a business. The problem? Not everyone knows how to do this

Becoming a Social Media Manager

 
This is where you come in!

Many business owners struggle to manage their social media accounts effectively and are willing to outsource it to someone who does. You can make big bucks if you know how to harness the power of these platforms to help businesses attract more followers, leads, and so on.

Becoming a social media manager goes beyond just being well-versed in social media, though. It takes skills, strategy, and great business sense to begin taking on clients and making good money as a social media manager.

In this post, we break down the steps to becoming a successful social media manager and start making the big bucks!

1) Pick Your Platform(s)

 
One of the keys to becoming a successful social media manager is focusing on one or a few platforms to specialize in.

Many entrepreneurs new to the industry try to be a generalist and apply their skills to a range of platforms, but this makes it much more difficult to brand yourself and stand out in the sea of other social media managers.

It is best to pick one platform to become very good at and market yourself as an expert for that platform. You will then instill more confidence in potential clients who see that you are highly skilled on one platform rather than a “jack-of-all-trades”.

Think about it… many people can call themselves “social media managers”, but there is far less competition if you focus on Instagram, Pinterest, Twitter, and the like. You can then create a cohesive brand that stands out and can scale up as you just get better and better.

2) Refine Your Skills

 
This is a rather obvious step, but it is amazing how many people enter this industry with little to no experience. I do NOT recommend offering services that you have no experience. Not only do you risk not being able to give your clients a return on their investment, but you can tarnish your brand before you have even started.

Instead, I recommend that you learn as much as you can about your chosen platform(s), even going as far as to take a course to get some extra knowledge.

A good idea is to create your own social media accounts and test your strategies there. Then you will quickly figure out what works and what doesn’t.

3) Brand Yourself

 
As I mentioned in point number 1, it is important to brand yourself so that you stand out from the bunch.

It is easy blend in with the tons of social media managers out there and as with any industry, it really helps you to niche down and have laser focus when it comes to your target audience.

For example, you may decide that you want to do Instagram management for fitness trainers, or Pinterest management for lifestyle bloggers.

Though this may seem counterintuitive at first, you are actually positioning yourself to be an expert in a particular niche – which means more money in the long run. If you are too broad, you will be constantly competing with other generalist social media managers over price.

You may want to work with a branding expert to establish a solid website, logo, and more to really take your status from “freelancer” to “entrepreneur”.

Related:

• 5 Ways Millennials Can Build Their Personal Brand

4) Grow Your Social Media

 
If you are a social media manager, it doesn’t hurt to have the numbers to prove it!

Though having a large following isn’t necessary, it can only help you to show that you know what you are doing – and work to attract more customers.

At the very least, you should have a presence on the platform that you are planning to do social media marketing for, and make it professional and engaging. Many potential clients will look to this as an example of your work.

This also gives you a great medium to test your strategies without risking messing with a client’s account. Having some “social proof” can really help you stand out as an authority in your niche.

Related:

• Step-by-Step Guide to Starting a Blog

5) Get Experience

 
One of the best ways to get experience without the stress of trying to land your first clients is to offer work for free or at a discounted rate.

When you are first starting out, people may be hesitant to hire you without any case studies. Fortunately, you can often offer your services for free in exchange for a testimonial or to feature the results on your website.

I have found that Facebook groups are the best place to offer up free services. Look for business owners in your niche and work out a deal with them if you can. You don’t need many – just a couple solid examples to refer potential clients to once you are ready to start really doing business.

6) Gather Testimonials

 
Once you have done some work for people, you will want to start gathering testimonials.

An easy way to do this is to create a business Facebook page and refer past clients to that page. Having testimonials here will be good proof to potential clients that you are skilled in what you are offering.

If you have a website, I recommend showcasing these testimonials there as well. Just a few can go a long way!

7) Build Out Your Offers

 
Once you think you are ready to start approaching potential clients, it’s time to establish what your services and offers are going to be.

When it comes to deciding on your offers, it is best to do a bit of research into what your target audience is looking for.

Talk to people you have helped in the past and other social media managers to figure out what offers make the most sense for your platform(s). You may also get an idea of costs as well.

To secure consistent income, it is ideal to create packages that will keep clients on a retainer. For example, you may offer to schedule 5 Instagram posts per week and Instagram Story management for $400 per month, or Instagram engagement for $600 per month. That way, clients will know what to expect month-to-month and you won’t have to depend on one-off projects.

8) Network Online

 
Don’t underestimate the power of networking!

Social media marketing is a rather competitive industry, and now more than ever it is important to grow your online network.

Trust is a big part of potential clients hiring you on, and having a referral makes it that much easier to make that leap.

Connect and partner up with digital marketing agencies who may need to outsource social media marketing for their clients. Reach out to influencers in your niche. Do all you can to forge that meaningful connection, build trust, and cultivate relationships with people who are open to sending business your way.

9) Land Your First Clients

 
Landing your very first client can seem like an intimidating feat, but once you do, the process just gets easier from there.

Be confident in your offer and be prepared to show past results. Speak to what their pain points are and how you can address them. Don’t be afraid to compromise a bit on price if they seem like a good fit, as you can later use their case study to justify higher rates for the next client.

Over time, you will learn where you target customers “hang out” and how to market to them. This varies depending on your niche and the kinds of clients you are after. Stay in tune with their needs and match them.

In my experience, Facebook groups are a great place to start. Find a group that includes your target audience, and share value in there. Avoid being salesy. Soon enough, people will come to trust you as a source of information and will inquire about your services. Then it will flourish from there!

Ready to Become a Social Media Manager?

 
Hopefully, you have found this post helpful in paving the way for your future as a social media manager.

With the right skills and business know-how, you will be making money in no time! By branding yourself and forging those important connections, you can scale up and really make waves!

 
Related:

• How this Digital Nomad Funds Her Dream of Traveling the World
• How to Make Money Blogging
• Free Editorial Calendar in Google Sheets
• 5 Ways Millennials Can Build Their Personal Brand

 
 
What do you love most about social media? Do you have plans to turn it into a career?
 
 

For most of us, we choose a bank and stay with them for years without really stopping to consider whether or not they are serving us properly anymore. We assume switching banks is an enormous hassle, and often settle for what our current bank is offering.

Not only is switching banks relatively easy, but it can save you a lot of time, money, and future hassle. To make your life easier, here are 6 times you should consider switching banks.

1) When the service is sub-par

 
Do you find you have difficulties reaching someone when you call your bank? Do you have a hard time getting your questions answered? Or, do you feel like your bank is simply not as friendly as you would like?

With so many banking options out there, there’s no need to put up with sub-par customer service. When we experience poor customer service from a restaurant, shop, or other establishment, we typically are at least a little hesitant to go back. Your bank shouldn’t be any different. Poor service is a perfectly acceptable reason to consider switching banks. After all, they are handling your money – you should be able to trust them.

To find a bank that fits your needs, think beyond the level of service you receive when you physically walk in. For instance, do they quickly respond to customer service inquiries via phone or email? Or are you put on hold for hours? Do they have tech support to go along with their mobile and online banking? Are you able to reach them at reasonable hours of the day? All of these are important service factors. Though you may not use all of the types of services available, you want to know that they are there when you need them.

2) When you find better interest rates elsewhere

 
With interest rates being relatively low across the board, people often wonder if it’s even worth switching banks. Well, the good news is the Federal Reserve has been raising interest rates in the last few years, and they are projected to continue to rise. While a higher interest rate won’t necessarily make you rich, there certainly is no harm in earning more on money that’s in the bank anyway.

If you’re really looking for the highest interest rates, consider switching to an online-only bank account. Since online banks don’t have to pay for the additional cost of brick-and-mortar locations, they are able to offer significantly higher interest rates than traditional banks. For instance, CIT Bank is currently offering high-yield savings accounts at 2.40% APY.

Related:

• Top High-Yield Savings Accounts

3) When they no longer keep up with your digital needs

 
Is your bank behind the times? That might not be an issue for some people, but if you prefer to do your banking digitally, it can pose a problem.

There are plenty of banks out there with stellar digital services, including online banking, apps, chat options, and even the ability to respond to customer service questions via social media. In fact, many people, especially millennials, are even making the switch to 100% online bank accounts.

If you prefer to bank digitally, find a bank that supports those features. Just make sure it their technology is secure and safe to use.

4) When you move

 
Before I graduated college a few years ago, I banked at a small, local bank. This was the bank where my parents and I opened my first savings account, so it’s safe to say I was emotionally attached. They were great to me, but since they were small, they didn’t really have a great online platform at the time. When I graduated and moved across the country, I tried to continue to bank there, since they were the only bank I had ever known. I was constantly having to mail documents back and forth. If I received a check, I had to mail it halfway across the country to be cashed, since my bank didn’t have mobile check deposits. Looking back, it caused some major headaches, and I regret not switching banks sooner than I did.

It only makes sense to switch banks when you move. Once I finally started searching for banks, I was amazed. Not only were these banks local, but they could offer advanced digital banking, free ATM withdrawals, and more. Basically, what they could offer was simply a better fit for my lifestyle.

It’s key to find a bank that fits your lifestyle. For instance, if you travel frequently, you probably want a bank with great mobile features. If you want excellent, in-person customer service, then maybe a local bank is for you.

5) When they have high fees

 
Unfortunately, some banks aren’t exactly transparent with the fees associated with your accounts. You could be hounded with checking account maintenance fees, penalties for not maintaining a minimum balance, online banking fees, transaction fees, and ATM fees to name a few.

All banks vary in the fees that they require, but it is possible to find one that charges you less. For instance, if you use the ATM often, you can easily switch to a bank with no ATM fees. As you search, you will likely find that smaller, community banks require fewer fees while major banks have significantly higher fees. Keep that in mind when searching for a new bank so you don’t end up being penalized for services used.

 
Related:

• Top High-Yield Savings Accounts
• CIT Bank Review

 
 
Have you switched banks? If so, what lead you to make the decision? What do you look for in a bank?
 
 

Several money-making options are well documented and are considered tried, tested and true methods for adding money to your bank account, however there are many unique and interesting ways to make money that are overlooked.

Whether the world of the side hustle is completely new to you or you’re a pro in this realm, reading our guide to side hustling will help you get started.

Today I have a fun post highlighting 7 side hustle ideas that may surprise you.

1) Brand Ambassador

 
Most people hear the term brand ambassador and think it’s reserved for high profile celebrities and online influencers however many companies today are branching out and are seeking everyday people to represent their brand. Are you interested in getting paid for trying and promoting the newest products a brand has to offer? Then read on.

A brand ambassador’s job is to positively represent a company or brand while raising public awareness of the brand and giving consumers a memorable one-on-one interaction experience.

These positions are great ways to work with major companies, have fun and make great money. On average the starting rate is $20-$25/hour and as you continue to add to your experience, including going on tours or running events for companies in a managerial role, you can start earning $50-$100/hour and sometimes perks are included.

Caught your attention? To learn more check out IZEA or Brand Ambassador World.

2) Pet Airbnb

 
Renting out your space to people has become big business in the new sharing economy but what about renting out your space to furry friends? Opening your home to dogs is a great way to produce extra income while hanging out with man’s best friend.  Many dog owners want to offer their four-legged family members the best of care while they are at work or away on vacation and they will pay for customized services.

Doggie daycares and long-term pet sitting for dogs are becoming a lucrative side hustle for many. In addition, offering side services such as dog walking, daily drop-in visits while owners are at work, and dog pampering services can help boost your income stream in this side hustle.

How much can you make? It can range but the average is $20-$50 per service. With a few dogs per day on your roster, you can certainly make extra money that can earn you hundreds if not thousands each month (or even each week).

3) Rent your Car

 
You have heard of driving for Uber and Lyft but what about cutting out the chauffeuring service and just renting out your car? With the option to rent your vehicle to people who are in town and looking for a specific ride at a great rate, this opportunity is truly a unique one that makes a great supplemental income.

Find out more on how you sign up for this service at Fluid Market and Turo.

4) Professional Bridesmaid/Groomsman for Hire

 
Ever thought about just how big the wedding business really is and how you could get involved? Well, it is a $72 billion-dollar industry and growing each day with hundreds of ways to earn income in this area.

One very unique way is to be a bridesmaid/groomsman for hire. While this may sound like a far-fetched idea or one that would only work in movies, think again. This idea has worked for others with some raking in 5 figures monthly.

If weddings aren’t your thing but you’re interested in the idea, you can offer this service for year-round friendships. Sites such as Rent a Friend make it easy to become buddies with someone for a specific need such as a person to go to a concert with or to be a plus one at a wedding.

5) Coach the Elderly in Becoming Tech Savvy

 
Learning the ins and outs of the digital world is an important skill at any age. Creating a course with one-on-one or group coaching to help seniors navigate the online space and their associated electronic devices can be a great side hustle option.

Many elderly people also struggle with using computer programs and functions to their fullest. Between these services and internet mastery services, you will be able to generate extra income just by using your everyday knowledge in these areas.

With nearly 13% of the world’s population being over the age of 60 there is a large market available to tap into this side hustle niche.

6) Online Dating Profile Consultant

 
The world of online dating is big business and generates more than $3 billion in revenue annually. There are many ways to enter this market as a side hustle and acting as an online dating profile consultant who helps others figure out how to maximize their profile is an uncomplicated way to get your slice of the pie while helping others get the dates they seek.

As a dating profile consultant, you can also branch out by offering associated services such as dating etiquette, one-on-one ongoing coaching and specialized courses that can help your clients raise their dating scene status.

7) Ad Wrap your Car

 
Your car is a useful canvas for companies to advertise and many will pay you well to utilize this space! Ad wrapping vehicles is a great way to earn money while you complete your daily driving routine.

Wrapify pays based on the amount of ad coverage you agree to and the distance you drive which is monitored through their easy to use app. By signing up for making your car a moving billboard you can add hundreds of dollars to your bank account each month!

 
Related:

• 50 Ways to Make Extra Money
• Things My Side Hustle Taught Me About Money
• How to Start a Side Hustle, Even if You’re Busy
• Beyond The Hustle: What To Do When Your Side Hustle Gets Real

 
As you can see, the world of the side hustle is truly open to your imagination. For every niche, there is an opportunity for income and these ten will get you off to a good start.

 
 
What are your most pressing questions about the world of side hustles? What side hustles have you tried and what was your experience?
 
 

With all the startups entering the finance space, I’m always skeptical when I hear of new ones.

My first thought is always “here’s another app/comparison site/(fill in the blank).”

Needless to say, I usually have low expectations. I haven’t seen that many companies drastically change a process.

Due to no fault of their own, I felt the same way when the Ethos team initially reached out to me. I immediately thought “here’s another online term life insurance broker*”

After viewing a demo, asking some pointed questions, and checking out the service myself, I have to say I was extremely impressed with Ethos. Compared to other new technology in the life insurance space, Ethos stands out in a few important ways.

Before diving into what I personally find appealing about Ethos, let’s talk a little about what term life insurance is and what the benefits are.

*To be clear I later found out that Ethos is not a broker or comparison site, but more on that in a bit.

Term Life Insurance – The Basics

 
Here’s a quick summary covering the basics of term life insurance:

• Term life insurance is a type of life insurance that pays a pre-set lump sum to a beneficiary if you pass away while the policy is in effect

• Ethos offers policies in 10, 15, 20, and 30-year terms (I personally recommend locking in a 20- or 30-year term, especially if you are relatively young (20s or 30s)

• Ethos offers policies ranging from $25k to $10 million

• Monthly payments, or premiums, are made to keep the policy in effect

I use the phrase “term” life insurance because it’s the only type of life insurance that Ethos provides. Other companies may offer “whole” life insurance that has an investment component to it, but ultimately you are better off as a consumer if you separate your insurance from your investments. There’s a reason salespeople push whole life insurance (hint: it’s not because it’s a better deal for the consumer!).

I’ve talked before on the site about who would benefit from life insurance, but I’ll give a quick recap here as well. If you have a partner and/or children I think term life insurance is a no-brainer. If you and/or your partner have an income source, your long-term financial plan and short-term actions revolve around that income, therefore it makes sense to protect it in the form of term life insurance.

Allow me to share a quick story that illustrates how life insurance protects you.

In college I had an on-campus job in the library. When one of the librarian’s partners passed away unexpectedly, it deeply impacted her. Ultimately she ended up being unable to work because of the toll it took on her. That experience has stuck with me and has influenced my thoughts and opinions of life insurance.

My point is this: you never know what impact an unexpected death will have on you. Term life insurance protects you if you were faced with this unfortunate situation.

Ethos: a Truly Online Process for Getting Life Insurance

 
Ethos is not a term life insurance broker. There are other companies out there who essentially take your information and then direct you to a variety of life insurance providers. Ethos is different in the sense that they’ve partnered with one major life insurance provider, Assurity. Assurity is an “Excellent” rated life insurance company with 130 years of experience.

Being partnered with a large life insurance company provides a number of benefits to you as a consumer. Ultimately having this arrangement allows for a truly online process of getting life insurance. Allow me to explain.

When I got life insurance a couple years ago I went through a company that has an online portal. This company was – and still is – widely viewed as “disruptive” in the life insurance industry.

The problem is that once I selected the insurance company I wanted to go with, the underwriting process kicked off. And then someone reached out to set up a phone call to discuss questions that were already asked on the online application. Then I had to schedule a medical exam where they drew blood and took a urine sample.

Months later I finally had the policy in hand.

This process was an improvement upon the thing I hate most about the life insurance process: dealing with salespeople or sitting down to meeting in-person or on the phone to discuss options (serious question: would I really be a millennial if I found that appealing?). But I was disappointed that it seemed to have all the other outdated aspects of the life insurance process.

And that’s what sets Ethos apart.

Because they are partnered with Assurity, they can offer coverage immediately to most healthy people. This is a game-changer from a value proposition standpoint. They aren’t simply collecting information and dumping it off to whatever life insurance company you choose, just to send you on your way through the traditional process. They are literally providing term life insurance coverage to people online, instantly.

To be fair, not everyone avoids a medical exam, nor does everyone get covered instantly after going through the online questionnaire. With that being said, 99% of people do not need a medical exam to get coverage. If there is a question about your medical history, it may simply require a doctor’s statement versus a full-blown medical exam that requires blood and urine samples to be collected.

Ethos has the process in place that I was looking for when I was shopping for life insurance. My wife will be getting coverage here shortly, and we plan on going through Ethos because of how much they go above and beyond to make the process as painless as possible.

Ethos is Ultimately Focused on the Consumer

 
Some may mistake the automation and online-centric focus of Ethos as meaning they don’t care about the consumer as much as, say, a salesperson who meets with people face-to-face. In reality they are just making the process easier for people. I for one appreciate that aspect of it.

If you do have a question, though, they offer both phone and email support. So if you hate dealing with companies on the phone (like me), email is always an option.

All in all I am really impressed with Ethos. I honestly had the thought “I wish I had gone through this process instead” as I went through their site and learned more about how their online process works. I signed up for life insurance two years ago and Ethos is what I was looking for. Unfortunately they didn’t exist then!

I encourage you to at least check out Ethos as you shop for life insurance. Worst case scenario you go with another company.

 
 
If you have life insurance, what was the process like for you? If you are exploring life insurance, would you consider giving Ethos a try?