Student loan debt is getting crazy.

Talk to nearly anyone with student debt and I bet they will tell you they wish they did things differently so as to have minimized their debt load.

I can’t tell you how to get rid of it all, but I can help get you through college faster and with lower debt.

How? Test out of classes by CLEP (College Level Examination Program), and by DSST if you have a facility near you.

If your college accepts them, you can take enough of these tests to basically skip at least freshman year. This provides you a HUGE opportunity cost benefit. Not only do you only have to pay for 3 years of undergrad studies, but you could also be out in the workforce earning money and experience one year earlier.

Such a large head start must be hard, right? Not really, no. I have taken 17 of these tests so far, passing all of them, and most have been within the last 30 days (next two pics for proof).

16 are worth 3 credits each, one was worth 6. That’s 54 college credits.

CLEPs

Check out the CLEP site for a list of all exams they offer: https://clep.collegeboard.org/exams

Search schools that accept CLEP exams: https://clep.collegeboard.org/school-policy-search

DSST

Here is the site listing all the available DSSTs: https://www.getcollegecredit.com/exam_fact_sheets/

Here is where you can search for schools that accept DSSTs: http://www.getcollegecredit.com/search/

Modern States

Not in the military? No sweat. Modern States has teamed up with Harvard and MIT to offer 10,000 free CLEP exam vouchers. All you have to do is sign up and complete the course for the subject you wish to test for. Once you have completed the entire lesson, you can apply for a voucher to get the CLEP for free. You will have to pay the testing facility fee upfront, but you can send them a picture of the receipt for reimbursement.

More info here: https://modernstates.org/freshman-year-free/

Resources

• Introductory Sociology: “Crash Course Sociology” https://www.youtube.com/playlist?list=PL8dPuuaLjXtMJ-AfB_7J1538YKWkZAnGA

• Introductory Psychology: “Crash Course Psychology” https://www.youtube.com/playlist?list=PL8dPuuaLjXtOPRKzVLY0jJY-uHOH9KVU6

• Micro & Macro Economics: “ACDC Leadership” https://www.youtube.com/channel/UCCQEbqDL8i40d83Au55lYMQ

• Mathematics: “Professor Leonard” https://www.youtube.com/user/professorleonard57

• Financial Accounting: This awesome secret sauce formula https://www.youtube.com/watch?v=uXZM57mN8U8

as well as Tony Bell https://www.youtube.com/user/TRUTonyBell

The post How to Get College Credits For Cheap – or FREE! appeared first on Doubling Dollars.

2019 Honey Review, Coupon Code Search Browser Extension

Honey has been a money saver because I am so forgetful!

I don’t buy too much, but when I do I am glad I joined up with Honey. I have earned almost $10 back from my purchases as well as saving at least $5 with Honey’s coupon code searching tool.

It’s not much, but it is free money back so I can’t complain. Plus, it is super easy to use.

(If you sign up using the links on this page I will be rewarded bit o’ Honey gold) 

Right now I have 598 Honey Gold and 404 pending approval. Every gold is worth a penny and can be “cashed out” when you have at least $10 worth.

If you are forgetful (or lazy) like me, join up with Honey right now and get that reminder to save.

Here is a little slogan for this app: Use Honey, Save Money

You can use this link and get 50 Honey Gold coins for signing up!

The post Honey Review 2019 – “Use Honey, Save Money” appeared first on Doubling Dollars.

How Much Does Your Commute Cost You?

Your commute can be the black hole into which your money – and time – gets sucked into. Very few people realize just how much they lose when they have a long commute. – Me

In 2017, the average American had a one-way commute time of 26.9 minutes according to the latest data released by the Census Bureau, up from 26.6 in 2016.

The new guy at work chose to add to the average.

He recently moved to the state for the job and purchased a house in an area that gives him a 40-minute commute. If you like to go by distance, it is 32 miles. EACH WAY!

He doesn’t realize it, but he just signed himself up for one HUGE yearly bill. A bill that is paid in small increments across different accounts and at mostly random times. This piecemeal and spread out cost is why he, and many other Americans, do not understand how much a commute costs.

Let’s break his commute down for a work year.

• 64 miles per day, 5 days per week, for 48 weeks (we get 4 weeks off per year): 15,360 miles
• 80 minutes per day, X5, X48: 320 hours
• Using the government standard mileage rate of 54.5 cents/mile, his cost is: $8,371.20

MILES

While those 15,360 miles will depreciate his vehicle, that cost is included in the government’s standard mileage rate. What isn’t included is the environmental impact of his decision. While I realize that one more car on the road for longer won’t change things, it’s just adding to the problem. The more people that don’t think about their impact to the planet, the worse things get.

Small numbers add up quickly over time. If more people drove less, the combined reduction in emissions would be large. And this is just his commute, his personal driving and errands will further increase his yearly mileage.

This many miles is much more than all my yearly driving combined.

TIME

If you look at 320 hours in the confines of a normal 8-hour workday, it comes out to 8 WEEKS worth of jobbing. The sad thing is your commute time doesn’t count as work so all this time is put on top of what you have to spend on the job.

This means he will have less time to spend with his family, his hobbies, and his passions. Basically, he signed up for an additional 2 months of unpaid work per year.

COST

$8,371.20 is not chump change. This amount of money invested for 20 years at a conservative 7% would grow to over $360,000.

Now it’s not practical to assume zero commuting costs as we all have to pay something to get to work. Even if you are able to telecommute, there are costs associated with doing that.

I will use my own commuting costs and the same formula but with my inputs, I come out with my personal numbers: 2,400 miles, 88 hours, and $1,308.

The monetary difference between our commutes is $7,063.2, or over $309K if invested at that same 7% rate for 20 years.

CONCLUSION

My new coworker is actually one position above me and so earns more — except he chose this long commute. When I calculate the difference in cost between his commute and mine, he only ends up earning about $1,000 more than me per year.

But you also have to consider taxes on his higher income. You see, saving money is 100% yours but if you earn more the tax man wants his cut. If he falls into the lowest 12% bracket, his last $1,000 income advantage evaporates. If he is in the 22% bracket, he ends up with less money than me even though he earns much more.

All because of this one poor decision.

While I focused on a car commute and listed some of the most direct negatives involved with this type of commute, there are some small benefits. Two of the most commonly mentioned are a chance to have a mental break before and after work as well as the option to listen to podcasts or audiobooks.

But let’s face it, those are two crappy benefits compared to having a few thousand dollars in your pocket and that same amount of time freely available to your use in any way you see fit.

When I hear someone say that “I just don’t know where my money goes,” I have to think that they are not calculating the incremental daily transactions.

Speaking of which, I found this little commute calculator if you want to quickly see what your commute costs you. They use a slightly different calculation than I do, but you get the idea.

Additional Info:

• His spouse is currently looking for a job so her work commute wasn’t part of the decision.
• The area he moved to is a cookie-cutter planned community and is nice because everything is new(ish), but there are closer places just like it with similar price points.

The post The Killer Commute appeared first on Doubling Dollars.

I’ve been looking for deals that I could use, not just saving a few hundred on a TV. (My TV is from 2008 and works just fine, thank you. ) I don’t need to load up on a bunch of new products just because they are cheap. I just wanted to see if there is anything out there that is worthwhile. I’m looking for a discounted service or product that I am interested in, and I am not interested in much that is out there.

But here are a few items that I found and have deemed worthy of a frugal individual.

I might get paid for some of the links below.

Hulu for 99 cents per month for 12 months.

You can use eBates to get an additional $5 back there too bringing the cost down to just $7 for the year. I find myself watching Hulu more than Netflix nowadays.

If you are already subscribed to Hulu, you might try getting a friend or partner to sign up and then use that new account to snag this great deal.

Lodge Seasoned Cast Iron 5 Piece Bundle. 10.5” Griddle, 8” Skillet, 10.25” Skillet, 10.25” Dutch Oven, and 10.25” Lid

Lodge Cast Iron is a good quality product for the buck. This deal goes for $69.95, which is about half-price.

ClassPass is offering a free trial membership.

It is a monthly membership type thing to fitness classes. You get credits to use for a variety of fitness classes, whatever is in your area. I had things from boxing classes to boot camps to jazzercise. Normal price varies, but in my area I can get 5-8 classes for $35/month. Maybe this isn’t the most frugal, but it certainly isn’t the worst.

You can sign up for the free trial, use the credits to go to about 6 fitness classes, and cancel. Though if you ever want to subscribe again there is a $79 re-activation fee but it says you can put your account on hold instead to not be charged.

I haven’t tried this service, but if you have let me know how it is!

The post Frugal 2018 Cyber Monday Deals appeared first on Doubling Dollars.

Many would-be parents are facing financial stress due to the rising costs in bringing up a child in our nation as the cost of raising a child increases every year. According to the latest estimates made by the Department of Agriculture (USA), a child born in 2018 now costs $233,610 to raise to the age of 18.

The survey has also stated that the expenses for child care, education, and health care has increased in such a way as never before. For an average income family, the estimated range is from $11,650 to $13,530 each year.

Fortunately, the United States Department of Agriculture provides us with a Cost of Raising a Child Calculator using which a parent can figure an approximate annual expense to bring up a child. Once you put the required data within the cells, the calculator graphically represents the overall estimated annual costs of various things like food, housing, clothing, health-care, transportation, education, and others. Moreover, keep in mind that you have to enter information like your region, income, and number of children in the calculator.

Having children is undoubtedly one of the priceless gifts. However, while planning for children, you should be aware of certain hidden costs that come along with parenthood. The knowledge will help you manage your personal finances such that you can enjoy parenthood without having to fall into debt problems. Remember, the overall monthly expenses will rise after having a baby. So, if you can’t manage multiple bills consolidate your bills to make it simple. By doing so, you can stay out of a debt mess in your life.

Read on to know how much does having a child affect your financial life.

1. Cost of buying health insurance

You may have to spend more on health-related issues after you have a child. So, it is advisable that you buy suitable insurance policies beforehand. Even if you need to pay a comparatively higher premium on health insurance, yet it is relatively cheaper than expensive medical bills.

2. Buying food for children

Shopping for food and grocery items comprise a major portion of your budget. The cost of food is likely to increase as your child grows up. Research reveals that the food budget per child almost doubles when a child is in their teenage years. Moreover, the cost may become even higher with the increasing price of food items. If you take your child shopping with you, then you may end up buying more as your child may get attracted to a product and want it.

3. Celebrating kids’ birthdays

You will also have to budget for celebrating your kid’s birthdays. It has been found that a couple spends about $200-300 on a kid’s birthday party. You need to arrange for a cake, food, entertainment along with goodie bags for your kid’s friends. Moreover, your child will also attend others birthday parties and you’ll have to buy suitable gifts on such occasions. So, you should take this cost into consideration while planning an annual family budget.

4. Paying for your child’s education

The cost of education is increasing day by day. The education cost will increase if you get your child admitted to a private school instead of a public school. However, you can get some relief as you may qualify for childcare tax credit if you and your spouse, both are working.

5. Money spent on children’s activities

The parents need to spend a substantial amount on their children’s extracurricular activities as well. It’ll be quite expensive if your child gets admitted to a number of such activities. Moreover, you may have to purchase costly sports items, musical instruments, etc. However, you may get the required equipment at an affordable cost if you buy second-hand items.

6. Buying clothes for children

Buying clothes for children may be quite expensive if you want to buy branded garments. You may forget about budgeting when it comes to buying clothes for your little ones. However, the cost can be reduced to some extent if you look for your child’s clothes at a discount store instead of a branded shop. Young kids rarely care what they wear but that often changes as they get older and want the latest fashions to fit in with their peers.

7. Cost of buying a new house

When you have a child, you may feel the need to buy a new house. If you’re staying at a comparatively smaller house, then you may have to set a financial goal to buy a new house in the near future. This is because your children will want separate rooms as they grow up. However, until you’re financially savvy to afford a new house, you can make your children share rooms. For example, if you have 2 daughters, they can easily share a room for the time being. You may also consider renting a larger house if you can’t afford a down payment on another house.

Lastly, some of the parents are of the view that they tend to spend more due to the time crunch. Your time crunch can result in spending relatively more on restaurant meals and you may also pay more for household help. Moreover, you may also end up paying more when you don’t have time to shop around and compare prices before buying the necessary items.

Thus, when you’ve just received the good news that you’re a would-be parent, buck up and get your finances in order so that the newborn can have everything that he needs without any fuss. Don’t overspend and splurge as you may fall in debt, which is a big “no-no.”

The post 7 Costs That You Need To Budget For When You Have a Child appeared first on Doubling Dollars.

It Was The Best Month This Year!

I’m sorry I haven’t been posting much lately, but I have been focusing my time on my main side hustle, which is eBay sales.

I was able to take two weeks off of work and focused a bit more into sourcing stuff to sell on eBay. Thankfully, the last few days of the month have been big selling days and that managed to make August the best month so far this year.

eBay is still a part-time thing for me, but I do enjoy the hunt for new and profitable things to sell. I might not sell too many high priced items, but anything I do find costs me very little. I normally pay 89 cents per pound for the stuff I find.

Anyways, on to the chart for August.

Total sales of $2,657.23 from 96 items. That’s an average sale of $27.68.

I aim to have a profit of at least 50% and can often find my profit be around 60% of total sales. Most of my cost is shipping and then fees.

For instance, I paid $377.11 to thrift stores this month and some of that cost was for personal use items.

My selling costs that are tracked by eBay came out to $784.32. That means a rough profit of around $1,500.

Also, I started picking up DVDs and CDs to sell to the Decluttr app which are sitting in a few boxes right now.

All I can say is that reselling is a great hobby. I enjoy the hunt and the sale, it is only the listing and shipping that feel a little like ‘work.’

What about you? Do you sell things online? Do you enjoy thrifting?

Let me know in a comment below.

The post eBay Sales For August 2018 (Yes, August) appeared first on Doubling Dollars.

I Turned $21.81 Into $70.41 Using Decluttr.

It all started with me trying to figure out ways to increase my income from thrifting. I had never paid much attention to music CDs and movie DVDs before as they are numerous and time-consuming to sort anything profitable from the bunch. Especially since many aren’t worth much individually.

So my time was spent looking for courses, lessons, and the occasional audiobook in the media bins.

But since I downloaded the Decluttr app, I have been able to search the CDs and DVDs (and even some games) in a time-efficient manner. It all comes down to the barcode scanner and speedy lookup provided within the Decluttr app itself.

When you scan the barcode with your phone’s camera, it will tell you that they don’t want it, it doesn’t recognize the barcode, or what they will buy it from you for.

After three thrifting trips, I had amassed a large number of such discs (109 to be exact) – to the tune of 24 and a half pounds and a total cost of $21.81!

On Sunday, September 2nd, I sat down and created an order in the Decluttr app by just scanning the barcodes of each case. Every scan brought an instant price and was added to the order.

I submitted the order and was sent a UPS label to my email. Yes, Decluttr pays for shipping your sell order in. If you don’t have access to a printer, you can have Decluttr send you a label in the mail.

Decluttr Shipment. Circled in red, amongst my eBay parcels for the weekend.

Nothing to do but wait.

On Monday I received an email that they received the parcel. Decluttr promises next day payment and I had given them my Paypal for payment so I could get my money fast. Decluttr offers different ways to get paid, Paypal, Direct Deposit, and even a check in the mail.

During the next morning, I got the notification that Decluttr paid me $70.41. Since the initial Decluttr offer was $75.38, I was about $5 short.

What did they reject and why? I have no clue because Decluttr doesn’t tell you and you don’t get the items back.

To me, this is the biggest negative. I wish I knew why so that I could avoid buying them from the thrift stores in the first place. I am just going to have to avoid questionable items, like those with small case cracks, on my future sourcing.

But overall I am very satisfied with their service and will be sending in more shipments. In fact, I have already found a few choice items that they want.

I give them an 8/10!

 If you have some CDs, DVDs, or console games that you want to easily get rid of, check out Decluttr! Use this referral code link for an extra $5 added on to your first shipment (I will get a $5 bonus too, thanks to you!).

The post Decluttr Review, Or How I More Than Tripled My Money Reselling CDs & DVDs appeared first on Doubling Dollars.

Cheap Shoe Shipping Hack – Ship Shoes On eBay For Only $6.65!

(With the USPS shipping rate increase, the cost in 2019 is $6.95 with eBay’s shipping discount)

Today I want to share with any resellers the absolute cheapest way to ship shoes that weigh over 1lb, which is 98% of all shoes.

Some may say that this looks unprofessional and for those folks, I say continue doing what you do. For those that want to save some money on shipping, keep reading as the method I am about to share will save you at least $2 per pair of shoes without the original box.

This method will not work on all shoes. Extremely large pairs will not fit. Hightops will not fit as well. But for the majority of sneaker and dress shoes, this works like a charm.

Here is all you will need to ship shoes on eBay on the cheap:

• USPS Flat Rate LEGAL Envelope (free from USPS)
• Tape
• 2-4 Plastic Bags (free from the supermarket and other retail shops)

As you can see, shipping supplies are basically free, you will only need a little bit of tape.

Step 1: Put Your Shoes Into The Plastic Bags (I usually use two per shoe)

Step 2: Place Shoes Into USPS Legal Flat Rate Envelope

Step 3: Close The Envelope, Seal, & Tape

After I get the envelope sealed using the seal strip included on the envelope I reinforce it with my own tape. I place a large strip across the top and two little bits on each lower side. These envelopes weren’t designed with shoes in mind so a little strengthening doesn’t hurt.

Save Money Shipping Shoes On eBay!

$2 or $3 might not seem like much, but the savings will accumulate the more you do this. If you are like me, saving money on shipping goes right into my pocket. So I don’t mind that pocket having an extra $20 or $30 after 10 pairs of shoes have sold on eBay.

Also, realize that you can use this method for anything else that fits! Often times I am shipping slim boxes that weigh over 1 lb using normal flat rate envelopes or these legal rate ones.

You can also save 50 cents if you ever use the small USPS flat rate boxes. All you have to do is put your item into the small box, then place the box into a regular flat rate envelope. It easily fits, is more protected, and costs 50 cents less!

Disclaimer: While I have never had a package rejected or returned to sender using this method I have had Postal Clerks complain about it. I now just drop these in the drop box to avoid any hassles. 

I am not responsible for any problems you might have if you choose to use this method. 

The post Cheapest Way To Ship Shoes For eBay – With Pictures appeared first on Doubling Dollars.

I know there are plenty of you out there that say you can never predict a recession. To just continue investing because none of us are Nostradamus’.

But, and hear me out, what if the signs are all there and you just sit in cash for a little bit to see what happens? I’m not just talking about one thing, but a whole bunch combined. Isn’t it prudent to take a step back and consider it?

Personal debt levels are once again at all-time highs, and debt means that future consumption has to decrease to pay it off.

Warren Buffett is sitting on more cash than ever before. Other big investors have been moving to cash as well. These guys are professionals, why not follow their lead?

The Shiller PE ratio is over 30, higher than it was during the 2008 crash and is only lower than just before the Great Depression of 1929 and the Dot-Com bubble.

Unemployment is very low, around 4% currently. Whenever it gets low like this, a recession soon follows.

The 10 2 Treasury Yield is close to inverting. Historically, an inverted yield has preceeded most US recessions. Some say that an inverted yield is the best predictor of economic recessions.

When so many indicators are present, isn’t it time to re-evaluate?

I’ve been moving more to cash and investing less in the normal sectors. Maybe I am wrong and will lose out on some gains. However, silver has been beaten up so much that I see it as a very interesting sector right now. In times of fear, gold may lead but silver often catches up and returns a better gain.

But I am also still in the market with what I have. There could full well be large gains to be had before the next tumble.

I don’t know what the future holds, but I want to be ready with some dry powder when it comes. It all reminds me of the investor farmer I wrote about a few weeks ago. I am almost certain he would have “harvested” all his investment crops and waiting until next spring.

The post Is A Recession Incoming? appeared first on Doubling Dollars.

What do you think about the person driving an expensive car?

Do you think “Wow, that guy is cool!” Or do you think “Wow, if I had that car everyone would think I am cool!”

I bet it’s the latter.

It is a sort of paradox of human nature. People buy expensive things to show off to others, but other people see that wealth as a marker for them to aspire to – not the person behind it.

You can see this at any income level. From the person who rents rims to put on their car to the CEO who loves the opportunity to show off his private jet. (In fact, there is a market to rent parked private jets for 10-15 minutes so that people can take selfies for social media. Do you think those people have one thought for how cool the actual owner of the jet is?)

Don’t take what I say the wrong way. The pursuit of a better life is crucial for your happiness. The happiest people on the planet are the ones who are always evaluating and improving themselves and their situation in life. (The unhappy are often busy evaluating and judging others.)

What I mean to say is that true admiration from other people doesn’t come from what you own, it comes from your character. You will garner vastly more respect from other people by being friendly, intelligent, humble, and ethical than by having fancy things.

Warren Buffett is a perfect example of this in action.

He could afford to show off his wealth at the highest level of ostentatious display yet he drives a 2014 Cadillac XTS ($70,000 when new), lives in the same house he bought in 1958, and buys his breakfast from McDonald’s.

Back to my first question about an expensive car. In the absence of other knowledge about a person, we judge wealth by what we see. People don’t walk around with their net worth projected above their heads like they are in the video game The Sims.

Since we don’t see those number we can only surmise that they had $300,000 to spend on a new Ferrari and now have $300,000 less than they did before and therefore are rich because they did so. Or at least that is our first assumption. This is the modern world after all, and the modern world has become an expert at assisting people to fake it until they make it – for a monthly payment, of course.

So yes, faking it can allow someone a taste for a cut of your future monthly cash flow. It can allow someone to pretend to be wealthy long enough for them to show off to their friends on social media.

But wealth is what you don’t see. It’s the big home not purchased. The expensive car not bought. The nights out forgone, the monthly payments declined. Wealth is assets purchased that you don’t personally use. It is growing investments and investments that pay you to own them, like the dividend or rental payment that hits your bank account.

But the normal person doesn’t think about wealth like that because they don’t see what they can’t see.

If you spend your money on stuff, you get stuff instead of money. So when most people say they want to become a multi-millionaire they mean that they want to spend millions of dollars on stuff.

Which is the exact opposite way to become a millionaire.

But there is also another layer of wealth, ‘real’ wealth. Real wealth is owning your time instead of being forced to work to survive. It comes once you have built up enough assets to live off of them indefinitely. That’s why I am in deep pursuit of financial independence.

But that does come at the cost of not displaying my wealth by being surrounded by fancy stuff. However, that’s a cost I can happily live with.

P.S.

You might just think I am someone who never experienced either side of this mindset. But I have. I used to live in a mansion in Hawai’i. I drove a kickass Dodge Challenger.

Did anyone care? Did anyone think I was cool because of that?

Nope.

That stuff doesn’t matter. But I sure was paying a heck of a lot of my cash flow each month to keep up those appearances.

I gave up caring about all those symbols of money and instead focus on becoming financially free. To own my time, my life.

Here is where I wrote about all that, with pictures.

The post Real Wealth Is What We Don’t See appeared first on Doubling Dollars.