The cost of living increases every year. Those who are surviving on a minimum wage often need to work multiple jobs just to make ends meet. There's been ongoing political debate on the federal and state levels about raising the minimum wage. Without a move from Congress to raise the minimum wage on a federal level, states and cities have taken on the minimum wage conundrum locally, many issuing raises come 2017. Good news for those in need of more money for their families.
21 states will see a wage hike come the New Year, much to the delight of workers who could certainly use the money for living expenses. Some minimum wage boosts will just come to a few cents per hour, but other, larger jumps will add up to $2 per hour to people's wages.
Most of these 21 state increases will go into effect come January 1, 2017, some not until July, and New York will get a head start with the increase beginning on New Year's Eve, 2016. That's one great way to ring in the New Year!
Arizona, Maine, and three cities in Silicon Valley will see the biggest raises, percentage wise. And Colorado and Washington, along with Arizona and Maine plan for increases up to 60% within the next few years.
Is your state issuing a new minimum wage? Here are the states who have planned increases and their new minimum wages come the hikes:
Alaska – $9.80
Arizona – $10.00
Arkansas – $8.50
California – $10.00 for small employers; 10.50 for large employers
Colorado – $9.30
Connecticut – $10.10
Florida – $8.10
Hawaii – $9.25
Maine – $9.00
Maryland – $9.25 (as of July)
Massachusetts – $11.00
Michigan – $8.90
Missouri – $7.70
Montana – $8.15
New Jersey – $8.44
New York – Varies across state from $9.70 to $11 (as of 12/31/16)*
Ohio – $8.15
Oregon – $10.25 (as of July)
South Dakota – $8.65
Vermont – $10.00
Washington – $11.00
*The basic minimum wage is $9.70 in most of the state. It is higher for the fast food industry; Long Island; Westchester County; and large and small employers in New York City.
Seattle is the city with the highest planned increase of all, moving to $15 per hour, answering Fight for 15's call. What's a little rain when the payout is fairer for minimum wage earners?
For more info on specific cities and a map for planned increases, visit HR Daily Advisor.
Airbnb offers an affordable option for people looking to be more comfortable as they travel.
However, there are downsides to staying in a host's home rather than a hotel. Whereas hotels are designed for constant streams of visitors and often have furniture built to last, at an Airbnb, you may be staying on old or cheap furniture that a host is using in order to maximize their profits.
And while most reputable hotels will have regular room inspections from staff to check for any wear and tear, Airbnb damage disputes are oftentimes he said, she said situations. If you are in an Airbnb and something breaks, there are a few steps you should take in order to ensure that you are not on the hook for damages out of your control.
If you're keeping tabs on the art and tech worlds, you've probably been hearing whispers about "NFTs" for the past month. Just over the past week they've entered the mainstream lexicon.
Twitter founder Jack Dorsey made the news for selling his first ever tweet. The app has been teasing paid subscription models and newsletter-like features, but tweets for sale is "the next frontier."
just setting up my twttr— jack (@jack)1142974214.0
The 2006 tweet went up for auction as an NFT, and the current bid is $2.5 Million. But what does it mean to own that? Why would anyone want to? And what even is an NFT?
Long gone are the days when the majority of Americans dreamed about owning a home with a white picket fence.
The traditional American Dream may be on its deathbed, but that doesn't mean a core component of the vision can't survive. It simply takes a diverse perspective. People can still believe they can attain their own vision of success in society with hard work, knowledge, and risk-taking. Investing in today's American Dream may literally mean investing money in our modern economy, starting with our infrastructure.
Real estate investing in particular is a lucrative method that can boost income and secure a better financial future for many. There's always risk involved, but the payoffs can far outweigh the uncertainty. Selecting solid financial investments is about confidence and competence. If you're looking for some advice on this kind of investment, here are a few savvy tips for new real estate investors.
Stick To a Specific Strategy or Niche
Real estate is a challenging sphere of the business world, one that requires several key skills: groundwork knowledge, networking, perseverance, and organization. True knowledge of the real estate market will come with time and experience, but it's a smart idea to select one area of the market and stick to it. This is the best way to attain in-depth familiarity with your specific niche.
First, choose a geographical area close by and then a niche strategy within it, such as house flips, rental rehabs, or residential or commercial properties. By doing so, you can become aware of current inner working conditions in the market and you'll have a better idea of how these trends may change in the future.
Be Vigilant About Viable Financing Options
While it takes money to make money, you don't have to use all your own money. A common misconception about real estate investing is that you must be wealthy to start off. This isn't straight fact, however. A majority of people can test the waters of real estate investing without a lot of initial cash in their pocket.
Aside from traditional financing options from banks and institutions, private lending options can be worthy solutions. Hard money lenders are popular, reasonable choices, and they tend to have fewer qualification requirements upfront. However, be sure to strategically choose a hard money lender to find the best possible fit.
Master the Art of Finding Good Deals
There may be hundreds of thousands of available properties for sale on the current market, but the bulk of them will never amount to the final money-making result you desire. Another great tip for new real estate investors is to use good math to estimate profit. Taking risks is part of the process, but you have the ability to analyze properties and use networking sources to find the greatest deal. You can't win every deal, but you can steadily work towards a thriving financial future.