Cash is going extinct, and at the very least we can hope that means the end of annoying coins and, maybe, just maybe, the end of $x.99 prices. Just charge me $4 so I'm not stuck with that penny, okay?
But we diverge.
Mobile payments have taken over transactions everywhere and now mobile banking wants to make the other side of money—saving it—just as easy.
According to the American Bankers Association, 1 in 3 Americans deposited a check with a mobile device in 2016. And many of those users reported doing it frequently.
Mobile check deposits are a big part of the mobile banking boom that's escalating with the increasing security of mobile phones. Without having to visit a bank or ATM, you can take a picture of both sides of your check and securely deposit it into your bank account through their mobile app.
With only a few short steps, you can deposit that check from your couch, even on a Sunday, even at midnight, in as many steps as it takes to Snap a selfie with dog whiskers.
The possible drawbacks to mobile deposits are basically the same as when you deposit at a bank. You'll still have to deal with the usual delays if your bank holds funds for a day or two. Some banks hold funds longer after a mobile deposit, but at this point, most of the most popular banks follow the standard regulations that you're already used to.
Banks have faced pretty rare instances of fraud where, because you can keep the check after you've deposited it, people have tried to deposit it again. In some of those instances, a different person deposited the check, causing the bank to remove the money from the legitimate depositor's account. But banks have generally solved these problems. One recommendation is to sign the check with "for mobile deposit only," to reduce the chances of this happening.
Santander's website suggests that you write "Deposited" and the date on your check after you've sent pictures of it as added precaution. They also advise that you keep it for two weeks for reference and then destroy it. Shredding is a safe way to prevent a lucky snooper from getting any ideas, and it's also a great stress-reliever! (Side recommendation: shred everything if you have the opportunity! It's just fun).
Mobile device security is higher than ever, so a secure connection to your bank is not something to worry about. They store the images on their end, anyway, so losing your phone or falling victim to a hack won't make any of your deposits vulnerable.
Every bank has its own suggestions for mobile deposit. If you follow their guidelines and use the same precautions you always have, the process should be smooth and as stunningly simple as it is on paper. So go ahead, cash that check with your phone. Just make sure you're on your bank's app and not Snapchat when you take the pictures.
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.