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The Best Car Insurance Companies of 2021

To help you understand what makes a top-rated car insurance company, it’s important to first find out how much coverage you need. This guide will help you understand what makes a top-rated car insurance company, how much coverage you need and ways to save money when getting a car insurance quote. Don’t worry; our top […]

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These Free TV Apps Will Let You Cut Cable but Keep Content

As cable subscription prices rise higher and higher and customer satisfaction ratings dive lower and lower, cutting the cable has never been more popular.

Sure, there are the usual big names in streaming services available for a monthly fee, but it’s possible to kick subscription fees entirely.

Luckily, there are more options than ever for replacing your traditional cable setup. Many free streaming services have stepped up to offer access to content overlooked by subscription-based services.

And you aren’t confined to squinting at your phone’s screen or gathering the family around the old iPad to watch your favorite TV series and movies — you can download apps to your Smart TV or even your Xbox or PlayStation consoles.

Of course, there are some rather shady options out there that stream pirated content. But we’ve rounded up free, legal streaming apps that provide no-strings-attached cable-cutting solutions.

12 Free TV Apps That Will Help You Cut Cable

With so many free streaming options out there, it’s easier than ever to cut the cord and save big. Whether you’re looking to keep up with the news, find a good movie for date night or entertain your kids with educational content, a streaming service exists to ensure you can do so without paying a dime.

Try these free TV apps out and see which works best for you.

1. Crackle

One of the go-to names not just in free streaming but in streaming video in general is Crackle. The cost-free service has a variety of content, ranging from classic TV shows like “Bewitched” and “Barney Miller,” as well as the newer “Snatch” series. It also has hundreds of films from major studios.

For a free streaming service, Crackle’s library is truly impressive. Crackle even has a handful of original series to its name. Best of all, Crackle works on nearly all mobile devices, streaming boxes and smart TVs.

2. Tubi TV

A division of FOX Entertainment, Tubi TV has deals with major studios like Paramount Pictures, Metro-Goldwyn-Mayer (MGM) and Lionsgate. It also features lots of foreign and independent productions.

Tubi TV’s library is updated regularly, and the service claims to add new content every week. The Tubi TV app works on more than 25 devices, including Android and iOS, Roku, Apple TV, Xbox, Samsung Smart TVs and Amazon Fire TV.

The library is solid and has started offering popular Fox TV series like “The Masked Singer” and “Gordon Ramsay’s 24 Hours to Hell and Back.”

Since the service is ad-supported, you can expect to watch a couple minutes of ads every 10 minutes or so. The experience is pretty similar to watching normal television.

3. Pluto TV

Pluto TV offers TV channels of linear content much like a cable package

There are dozens of classic TV, movie and sports channels — and even some highly curated streams of niche content.

If you’re looking for breaking news, you can choose from an assortment of major network news channels that are live streaming.

The kids (or kids at heart) can check out Nickelodeon classics like “The Fairly Odd Parents” and “Dora the Explorer.”

Pro Tip

Got a library card? You have access to even more entertainment options (besides the obvious, books). Check out these library apps for free access to movies, TV shows and more.

Or if you just want to veg out, switch over to their Binge menu for a seemingly endless stream of TV series, like “The Hills” and “Mystery Science Theater 3000.”

Pluto TV boasts a large list of supported devices including iOS and Android devices, Amazon Fire TV, Roku, Apple TVand Chromecast devices and Android TV.

Like Tubi TV, Pluto TV has advertisements similar to the ad load of normal TV.

4. NewsON

Streaming video isn’t always just about entertainment. The NewsON app provides hundreds of local and national news streams.

Both live TV and on-demand news broadcasts can be streamed from over 275 local news affiliates in 160 markets. The broadcasts are available for up to 48 hours after they air, so even if you don’t catch the news as it happens, you can catch up later.

Users can then select which news segments they want to watch from categories like sports, weather or entertainment. NewsON is compatible with iOS and Android phones and tablets, as well as Roku and Amazon Fire TV.

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5. Funny Or Die

The go-to streaming app for comedy programming is Funny or Die. Founded in 2007 by contemporary comedy giants Will Ferrell and Adam McKay, it has since grown to be a full-blown production house featuring original content from big names in show business.

Pro Tip

In 2018, the Funny Or Die began publishing on Vox Media’s Chorus and now uses the YouTube Player.

Content on the app must be streamed and cannot be downloaded.

6. PBS Kids

Kids need free streaming content, too. PBS has a PBS Kids Video app that provides hundreds of hours of educational and enriching content for the youngest members of the family. The app has a colorful, child-friendly interface, which makes it easy for kids to take control themselves.

You can even tap the “Live TV” button to watch what’s currently airing on your local PBS station.

Pro Tip

Almost all of the networks and cable TV channels have their own free apps for you to download — although many charge you to actually watch current content.

Videos from many of PBS’s most popular series are available for streaming including “Curious George,” “Wild Kratts” and “Sesame Street.” The PBS Kids app is supported for Android, Windows and iOS phones and tablets.

7. Xumo

Whether you want it now or later, Xumo offers live TV and on-demand options.

Like Pluto, you can choose from an assortment of major network news channels that are live streaming.

But it also includes more than 160 free channels, including themed ones in case you’re in the mood for action movies or comedies — you can watch the Funny Or Die channel here, too.

Xumo is available on most smart TVs and Roku and for download on iOS and Android devices.

Pro Tip

Many of the free TV apps offer “premium” channels — if you see that word, expect to pay for those services.

8. Crunchyroll

Anime and manga fans are likely already familiar with Crunchyroll. It specializes in mostly Japanese content, but it also features films and series from all over the world. Crunchyroll boasts a library of thousands of anime films and series, many of which are hard to find on other streaming services.

There is a paid premium feature, but the free Crunchyroll service has thousands of hours of popular series like the “Dragon Ball” franchise, “Attack on Titan,” “Naruto” and “One Piece.”

The Crunchyroll app is supported by Apple, Android and Windows mobile devices, as well as by gaming consoles, Chromecast, Apple TV and Roku.

Crunchyroll is a great app for anyone with an interest in anime. Of course, when it comes to anime content, you have to be watchful with your younger children, as a lot of it is geared toward teens (and sometimes even adults).

9. Twitch

For anyone with even a passing interest in gaming and esports, Twitch is the go-to free streaming service.

Twitch hosts user-created channels and streams focused on video games and other esports. It features a built-in chat feature, so users can chat with other streamers in real time.

Pro Tip

You’re there anyway — why not get paid to play video games? Here are four simple ways to start earning real cash for virtual play.

While there are thousands of free streams, Twitch also features premium features for a monthly subscription. Twitch apps are compatible with PCs, iOS and Android devices, game consoles, Chromecast and Fire TV.

While Twitch is popular with children, parents should beware: Twitch streams are somewhat unregulated and can sometimes contain adult language or content.

10. IMDb TV

Owned by Amazon, IMDb TV (formerly Freedive) features a host of full episodes of your favorite current and classic TV shows as well as an array of movies.

The catalogue includes some binge-worthy sci-fi hits like “Lost” and “Fringe.”

The free version of IMDbTV is ad-supported, so you’ll have to sit through a few commercial breaks.

It is available in the United States on the IMDb app, the IMDb website, the Amazon Prime Video app and Amazon Fire TV devices.

11. YouTube

Yes, YouTube. YouTube apps are compatible with just about every device that has a screen, and the service features videos to choose from on nearly any topic imaginable.

Most of those videos are not exactly premium content, but there are still plenty of full-length films, documentary series and curated channels that provide cost-free entertainment for the whole family.

While there are ways to download YouTube content for offline viewing, proceed with caution: Many of these sites and apps are full of malware.

12. Peacock

NBCUniversal launched this streaming service, which includes over 7,500 hours of free content, in July 2020.

Although Peacock offers paid premium options, the free version includes current and classic TV shows, movies, news, sports, kids’ shows, Spanish-language programs and even select episodes of Peacock originals.

If you’re a fan of shows like “The Office,” “Law and Order: SVU,” or “Saturday Night Live,” you can watch them on this streaming service.

Customers can stream Peacock on a variety of platforms, including LG Smart TVs, Vizio SmartCast TVs, Roku, Google and Apple devices and Playstation and Xbox consoles.

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Chris Brantner is a contributor to The Penny Hoarder. Senior writer Nicole Dow contributed to this article.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

Tips And Services To Help Your Bookkeeping Go Paperless

The COVID-19 pandemic wasn’t a catalyst to shift businesses toward digital transformation, it merely sped up the process. Businesses needed to scramble to move much of their operations online so workers could efficiently collaborate with each other and maintain business continuity during a difficult time.

Fortunately, departments not traditionally associated with the digital universe, like Bookkeeping, had an easier time adapting thanks to online services like Bookstime.com, a provider of digital bookkeeping tools with unique experience in difficult areas like sales tax automation, health benefits administration, and more.

Advantages of digital bookkeeping

Keeping track of every business transaction is among the most important and perhaps underappreciated tasks. Failure to keep track of transactions in a professional manner can result in a business owner making wrong decisions because they have inaccurate information.

Even worse, they might think they end the year with a profit but in reality, a bunch of small bookkeeping mistakes over several months means the business owner really lost money.

A shift to a digital platform eliminates these concerns. Online digital platforms make use of the most up-to-date accounting automation software that erases nearly every careless mistake. This is especially useful for a business owner who does the tedious but necessary job of bookkeeping themselves to save money. The more time a business owner spends on ancillary tasks, the less time they have to generate revenue and keep clients happy.

Some of the other advantages associated with going online include:

  • Eliminating clutter: keeping a clean home office is challenging enough but a digital platform means more space for higher priority files.
  • Save time: A digital bookkeeping platform is always available online with a few short clicks of the mouse. It can be accessed as needed and when needed in a few short seconds.
  • Environmental benefits: It isn’t unusual for a company to use at least 10,000 sheets of paper each year. Shifting resources online may seem like a small benefit but everyone has a responsibility to do a little bit more to protect our environment.

Case in point: Fill in a W-4

Every business owner is happy to hire new workers because it means they are expected to provide value to the company above and beyond their salary. But that doesn’t mean that the formal process is enjoyable.

One of the more undesirable parts of the hiring process is the pesky W-4 form that every employer has to ensure is properly filled in before a worker’s first day. Simply put, the W-4 form confirms how much income tax a worker wants to have withheld from their recurring paychecks. Under-withholding taxes means a worker will likely experience a shock come tax season as they owe money to the government. Over-withholding taxes means a worker is paying the government too much money and has to wait for a refund.

Digital bookkeeping can help simplify this process so you're less prone to errors. When other people’s finances are at stake, small careless mistakes could impact a worker’s desire to give the business owner 100% of their focus.

Businesses that shifted their bookkeeping process online to better navigate through the pandemic quickly realized this was a move that should have been done years ago. The advantages of having access to a clean and organized online tool far outweigh the costs.

Source: quickanddirtytips.com

10 Top Career Training Programs

woman on laptop

When it comes to getting a secure, well-paying job, it’s not always necessary to get a college degree first.

Some students may choose a career training program to learn the necessary skills for a specific job, often more quickly and for less money than a four-year college degree. These programs may also be referred to as career certificate programs, usually certifying the students to work in a particular role once the course is completed.

These programs can be completed after college, but many are designed to train people who haven’t attended college. Recent high school graduates or those who have attained their GED can often attend career training programs and get started on their careers after receiving their certificate.

Why Do People Choose Career Training Programs?

Two big factors in choosing to go through a career training program before or instead of going to college are time and money.

Career training programs typically can be completed in less time than it generally takes to complete an undergraduate degree. Some programs can be completed in as little as four months, a staggering difference from the four years it might take to earn a bachelor’s degree.

average cost of in-state tuition at a public two-year institution is $3,412, and at a public four-year institution the in-state tuition averages $9,308.

At Minnesota State University, certificate programs consist of nine to 30 credits, which can be completed in one year or less of full-time study. If these programs cost the average $100 per credit, they would cost between $900 and $3,000. This is fairly affordable compared to the cost of tuition at either a two-year or a four-year institution.

Another reason some people choose a career training program is that they need to, or would like to, start earning money relatively soon after graduating high school.

A career training program could be a more direct route to employment than getting an associate or bachelor’s degree for people who are sure about their career path. This could also be a beneficial route for students who want to save money to attend college later in life.

Choosing a Program

The most important thing to look for when choosing a career training program, whether it’s in-person or an online career training program, is accreditation. Accreditation verifies that an institution is meeting a certain level of quality. Usually, a certificate will need to come from an accredited institution for it to be considered legitimate.

Accreditation is done by private agencies, and most programs or institutions will list accreditations on their website.

The most up-to-date accreditation information can be found in the database of postsecondary institutions and programs compiled by the US Department of Education or with the specific accrediting agency’s website.

Once it’s clear that the potential programs are accredited, students can begin to narrow down which one will be best for them. This will be a highly personal choice, but there are a few factors worthy of attention, including cost, course length, and type of instruction (online vs. in-person).

Job search assistance—which might include resume writing workshops, job fairs, or interview prep—is another element that may help set students up for success.

Top Paying Jobs For Certificate Holders

In addition to career training programs having the potential to save students time and money, people want to know that they’ll be able to make a good living with those jobs.

Right now, these are the highest paying jobs for those opting to go through a career training program:

1. Web Designer

According to the US Bureau of Labor Statistics, the average annual income for a web designer is $73,760, with the educational requirements ranging from a high school diploma to a bachelor’s degree. This job is growing faster than average, so it has a promising future.

2. Paralegals and Legal Assistants

Paralegals and legal assistants make, on average, $51,740 per year. The required education for an entry-level job as a paralegal is a certificate or an associate degree. This job is also growing at a rate much faster than average, showing great potential for a long-term career.

3. Solar Photovoltaic Installer

Solar panel installation is a growing field with decent pay and a lot of projected growth for the future. The median annual pay is $44,890, with only a high school degree or a certificate required to begin working.

4. Licensed practical and licensed vocational nurses

Training to become a licensed practical or licensed vocational nurse typically takes only one year of full-time study, and the median annual salary is $47,480. This job is growing faster than average and is in a field that will certainly always exist. This could be a good choice for someone who wants to be in the medical field without the time and financial commitment it takes to become a doctor.

5. Medical Records Technician

Working as a medical records technician usually only requires a certificate, and sometimes an associate degree. This job has a median annual pay of $42,630 and the potential to work from home.

6. Pharmacy Technician

The median pay for a pharmacy technician is $33,950 per year. This job is growing at an average rate and typically requires on-the-job training or a formal training program, most of which last one year. Some longer pharmacy tech training programs culminate in an associate degree.

7. Computer Support Specialist

The role of a computer support specialist can vary widely, which means the educational requirements may, also. Some jobs in this field may require a bachelor’s degree, but others may only require an associate degree or a certificate. The median annual pay for a computer support specialist is $54,760, and the field is growing faster than average.

8. Phlebotomists

Professional certification, which can be gained after completing a phlebotomy training program, is the credential generally preferred by employers. This job has a median annual pay of $35,510 and it’s growing much faster than average.

9. Medical Assistants

Medical assistants have a median annual pay of $34,800, and the job only requires a certificate or on-the-job training. This job is growing much faster than average.

10. Wind Turbine Technician

The median pay for this job is $52,910 per year and the only education required is a training certificate through a technical program. This job is growing at a rate much faster than average, which could make it a great choice for students who are ready to start their career shortly after graduating high school.

Paying for a Career Training Program

Just because career training programs are typically less expensive than college doesn’t mean they’ll be easy to pay for. Some programs last longer than others and will still end up costing a fair chunk of money.

One way to pay for a career training program is to save the amount of money needed before starting it. If the program is short or has a lower cost per unit, it may be possible to simply save up the necessary amount before beginning the course of study.

Free Application for Federal Student Aid (FAFSA) ® is the first step to applying for federal student financial aid. After submitting the FAFSA®, students will find out if they’re eligible for federal student aid, which could include federal student loans and/or work-study.

Students who aren’t eligible for federal financial aid or students who can’t cover tuition costs without financial aid may want to look for scholarships. There may be fewer scholarships available for certificate programs than there are for degree programs, but they’re out there!

The best place to start looking for scholarships is with the school the student is attending. Some schools set up their own scholarships. Alternatively, students can search for scholarships offered by professional organizations in their related fields.

A private student loan may be another option to cover the cost of a career training program. Loan terms will vary from lender to lender, and applicants are encouraged to understand the terms of the loan before accepting one. Students should exhaust all federal student aid options before considering private student loans.

The Takeaway

Students can be under a lot of pressure to go right into a four-year college or university after graduating high school, but career training programs provide an alternative that can also set students up for success, typically in less time and for less money.

Learn more about private student loans at SoFi.



SoFi Loan Products
SoFi loans are originated by SoFi Lending Corp (dba SoFi), a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law, license # 6054612; NMLS # 1121636 . For additional product-specific legal and licensing information, see SoFi.com/legal.

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs. SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change.

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs. SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. SoFi Lending Corp. and its lending products are not endorsed by or directly affiliated with any college or university unless otherwise disclosed.

Third Party Brand Mentions: No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third party trademarks referenced herein are property of their respective owners.
External Websites: The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

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7 Tricks to Cut Down Your Electricity Bill

Tip 1: Pull the Plug on Appliances

Even when you’re not using appliances, they still continue to use energy. So pull the plug when you’re done with the blender, toaster, food processor, and even your television—everything except appliances that need constant power to preserve a special setting.

Tip 2: Insulate Your Outlets

Did you know that you could be losing warm (or cold) air through your electrical outlets? We placed some fireproof foam insulation under our outlet covers and switch plates, and were able to save several dollars a month on our utility bill.

Tip 3: Turn off Unused Electronics

One of the easiest ways to save money on electricity is to turn off electronics when you’re not using them. To make it easier, get a power strip like the SmartStrip, which powers down devices based on the device’s usage. For example, when you switch off your computer, the SmartStrip will cut the power to your monitor, printer, and scanner as well.

Tip 4: Use Lighter Paint

If you’re trying to decide between deep or baby blue for your walls, you should know that lighter colors of paint well help you use less energy, as they reflect the light and heat in a room better than darker hues.

Tip 5: Be a Night Owl

You may not realize that most electric companies charge more for power during the day than at night. Contact your local utility to find out whether this is the case in your area. If it is, make sure to do all your laundry, dishwashing, internet surfing, and other power-intensive tasks during off-peak hours. We noticed the difference on our electric bill, and you will, too.

Tip 6: Use Jars for Heaters

Here’s a neat trick for keeping your house warm without spending a cent in the fall and spring: Pour water into mason jars or glasses (we use cleaned-out salsa jars with their labels removed), and line them up along your windowsill. During the day, the sun will warm the water, which will gently warm any air getting through your window at night. To make the jars even more decorative, add ribbons and bows, or add food coloring to the water for some pretty windowsill reflections.

Tip 7: Watch Out for Cordless Phones

Especially if it’s an older model, your cordless phone can use a lot of electricity. Keep your energy bills down by making sure you dim the lights on the display (if possible), and by not cranking up the volume, which can force the phone’s amplifier to work twice as hard.

Get more great tips on our podcast by subscribing on iTunes or Stitcher! You can also sign up for our newsletter and follow us on Facebook for our daily tips!

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Source: quickanddirtytips.com

How to File for Pandemic Unemployment Assistance in Every State

Note: This article has been updated to reflect the new programs and provisions in the second stimulus package. For the first time nationally, independent contractors and gig workers can receive unemployment benefits — through Pandemic Unemployment Assistance. Millions of Americans have relied on this program since it was created by the first stimulus package in […]

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

Chipotle to Hold Nationwide Hiring Event to Fill 15K New Jobs

Chipotle is kicking off the new year with a nationwide hiring blitz.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
Source: thepennyhoarder.com
To make headway on those recruitment efforts, all Chipotle locations are holding a “Coast to Coast” career event Jan. 14. On-site interviews are taking place from 8 a.m. to 10 a.m. and 2 p.m. to 5 p.m. local time.
According to job listings on the company’s career board, the main crew-member requirement is that you must be at least 16 years old to apply. All training is provided.

Pro Tip
To participate in the hiring event, you must fill out a brief application and select an available interview time slot at your local Chipotle. Do not show up without requesting an interview.

To entice new workers, the burrito chain has been experimenting with new perks and benefits available to all employees, part- and full-time:

Job Openings at Chipotle

If Chipotle meets its hiring goals, the company’s workforce is set to exceed 100,000.
Adam Hardy is a staff writer at The Penny Hoarder. He covers the gig economy, remote work and other unique ways to make money. Read his ​latest articles here, or say hi on Twitter @hardyjournalism.
Compared to the overall restaurant industry, Chipotle has fared well throughout the pandemic. The company hired 10,000 new workers in July as it added new locations and built drive-thru windows at many existing locations. In November, Chipotle unveiled its first ever “digital” restaurant in New York to experiment with only providing drive-thru and pick-up orders.
With hundreds of new restaurants in the works, the fast-casual Mexican food chain plans to fill 15,000 new openings, according to the hiring announcement.

  • Medical, dental and vision insurance.
  • 401(k) retirement plan after one year of employment.
  • One free meal per shift.
  • 100% tuition coverage for select degrees and universities through a partnership with Guild Education.
  • Tuition reimbursement of up to $5,250 for schools and degrees outside that partnership.
  • Paid time off including parental leave.
  • English as a second language training.

“Please bring a mask and follow all safety protocols while you’re in the restaurant,” the company said.

Check out these other employers that offer health insurance and cover college costs for part-time employees.

Chipotle doesn’t have a company-wide minimum wage. On average, crew members earn about to an hour (or local minimum wage if higher) according to thousands of self-reported wages on Glassdoor.
As a safety precaution, outdoor and curbside interview accommodations are available.
Chipotle’s recruitment spree is focused on hiring new restaurant team members, which primarily consist of line cooks, food preppers, and cashiers. These positions are entry level.

5 Unwelcome Financial Surprises to Watch Out for in 2021

The last thing anyone wants to do right now is reflect on this year.

It was dreadful. Let’s move on.

Before you do, though, it’s a good idea to take stock of how your finances may have changed during the last 12 months and make any needed adjustments.

Here are five areas of your finances to check on so you don’t get any unpleasant surprises in 2021.

Student Loans

If you’ve been taking advantage of student loan forbearance since March — when all payments and interest on federally held student loans were suspended — it’s time to resurrect those payments.

Forbearance ends Jan. 31, 2021, at which point you start owing and accruing interest on your student loans. Don’t delay reaching out to your student loan servicer.

If you’re on the standard repayment plan and are unable to make the payments, apply for an income-driven repayment plan, which could substantially reduce your monthly payments when the forbearance period ends. If you’re already on an income-driven plan, update your income to modify your monthly payment.

Credit Cards

Don’t let the ghost of credit card purchases past haunt you in 2021.

If you want to start putting a dent in your credit card debt, we have plenty of options, including debt avalanche, debt snowball, debt snowflake and debt lasso methods.

However, if you’re having problems making payments, you should reach out to your lender to ask them about assistance or hardship programs.

Start by looking for a customer service number on a copy of your bill for your mortgage, credit card, auto loan or other loan. When you call, have your account number and a clear explanation about why you will be unable to pay the bill. Be sure to ask about all your options as well as how your payments, balance, interest rate and credit score could be affected.

Early Retirement Withdrawals

If you took a CARES Act withdrawal from your retirement account, you won’t owe the 10% penalty you’d usually owe on an early distribution before age 59 ½. Be prepared for the tax bill, though.

Normally, you’d owe income taxes on the entire withdrawal when you file your return for the year, but the CARES Act lets you spread the bill over three years. That means you need to be ready to pay one-third of the taxes by April 15, 2021.

Unemployment Taxes

If you received unemployment compensation in 2020, you may be in for a shocker. Your unemployment benefits are taxable, but more than one-third of Americans didn’t know it.

If you didn’t have taxes withheld from your jobless benefits, make sure you file a 2020 tax return even if you can’t afford the bill. You can work out a payment plan with the IRS, and you may even qualify for certain tax credits that can offset the amount you owe.

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Payroll Taxes

The IRS says employers that stopped withholding payroll taxes for the last four months of 2020, as ordered by President Trump, will have to collect those taxes during the first four months of 2021. That means if you’ve been getting a bigger paycheck as a result of the temporary tax holiday, start preparing for a smaller paycheck now.

Make a bare-bones budget, and set aside any extra money you can so you’ll be ready to live on less.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com