If the regular 9-to-5's got ya feeling bored, there is always the opportunity to pursue something off-the-beaten-path. There is a slew of cool and weird jobs out there that you probably never knew existed. Your parents may have wanted you to become a teacher or a doctor, but not everyone is cut out for the straight and narrow. Here are five unique jobs worth hearing about. No cubicle required.
You've binge-watched so many Netflix programs that you feel like a professional viewer, but did you know there is actually a job that turns TV watching into a paying job? Yes, as per Undercover Recruiter, a full-time Netflix viewer is a real thing. "Netflix has hired someone to watch all of their content before it is available to the public and their role is to review and assign each program its correct tag." According to The Washington Post, "Tagging involves entering words or phrases that describe the movie or television show into the company's database in an effort to make Netflix's search functions more precise. It helps the company categorize their ever-changing catalogue, and bring more accurate recommendations to viewers." While it's not clear how much one gets paid to watch TV all day, the perks are definitely worth it. Maybe the year-end bonus is a year's supply of popcorn!
Bingo! Yes, there is a job in this world called "bingo manager." Apparently, one must oversee the ins and outs of the popular gambling-based game, specifically in the casino setting. As per Salary, a bingo manager can take home more than $60K per year. That's likely more than one would win playing the game on the regular. According to Salary, "The person in the job (needs) at least five years of experience. The manager approves jackpots and payouts, handles escalated customer complaints and issues, and maintains total compliance with federal and state gaming regulations. Additionally, bingo managers oversee all aspects of their staff and maintain budgets." If you love the thrill of the game, why not head up the operations?
You may recall the 1987 film Mannequin starring Sex and the City's Kim Cattrall and Andrew McCarthy, but the live mannequin gig is not just for the big screen. Why should stores use a plastic human replica to showcase their clothing when a real-life person can prance around in the latest designer duds? According to Lifehack, a live mannequin can fetch up to $50/hour modeling clothing for shoppers to enjoy as they raid the racks and scour the shelves. As long as they don't blow all their loot buying the clothes off their backs, this job is well-suited (pun intended) for the fiercest of fashionistas.
Television commercials and online and magazine ads are great modes of advertising, but as times change, so do marketing strategies. When tradition gets dull, it's time to bring out the fresh ideas, like body advertising. People are willing to promote products, goods, and services using their bodies as the billboards. Face and body paint and even permanent tattoos are part of the gig, and folks are paid from $100 to $5,000 as per Lifehack to be the walking advertisements for companies seeking a unique messaging campaign. The paint is one thing, but would you be cool with "Trojan" permanently scrawled across your forehead?
Need a hug? If you don't have a special someone or anyone close to you willing to hold you tight when you need a caring touch, you can hire a professional cuddler to wrap their arms around you in a warm (and arguably weird) embrace. According to NerdWallet, "Clients pay $80 an hour — and, no, there's no funny business." Getting paid to cuddle sounds pretty easy, but you never know who will be seeking a snuggle. Hey, it's only awkward if you let it be!
If these odd jobs aren't quite weird enough for you, check out the podcast Weird Work. Jobs like intimacy choreographer, professional bridesmaid, dinosaur erotica writer, and bug wrangler all sound pretty out there!
When you take out a loan for a car, charge something to your credit card, or get a personal line of credit, there is going to be an interest rate that applies to your loan.
A lot of different factors go into what you will be charged, including your own personal credit score. But even those with flawless credit still see a minimum charge that they can't get around. That all goes back to the Federal Funds Rate.
One thing consumers rarely realize is that all of our banks are lending money to each other every night. Banks are legally required to maintain a certain percentage of their deposits in non-interest-bearing accounts at the Federal Reserve to ensure they have enough money to cover any withdrawals that may unexpectedly come up. However, deposits can fluctuate and it's very common for some banks to exceed the requirement on certain days while some fall short. In cases like this, banks actually lend each other money to ensure they meet the minimum balance. It's a bit hard to imagine these multibillion-dollar financial institutions needing to borrow money to tide them over for a bit, but it happens every single night at the Federal Reserve. It's also a nice deal for those with balances above the reserve balance requirement to earn a bit of money with cash that would normally just be sitting there.
The Federal Reserve
The exact interest rate the banks will charge each other is a matter of negotiation between them, but the Federal Open Market Committee (FOMC) (the arm of the Federal Reserve that sets monetary policy) meets eight times a year to set a target rate. They evaluate a multitude of economic indicators including unemployment, inflation, and consumer confidence to decide the best rate to keep the country in business. The weighted average of all interest rates across these interbank loans is the effective federal funds rate.
This rate has a huge impact on the economy overall as well as your personal finances. The federal funds rate is essentially the cheapest money available to a bank and that feeds into all of the other loans they make. Banks will add a slight upcharge to the rate set by the Fed to determine what is the lowest interest that they will announce for their most creditworthy customers, also known as the prime rate. If you have a variable interest rate loan (very common with credit cards and some student loans), it's likely that the interest rate you pay is a set percentage on top of that prime rate that your lender is paying. That's why in times of low interest rates (it was set at 0% during the Great Recession), a lot of borrowers should go for fixed interest rate loans that won't increase. However, if the federal funds rate was relatively high (it went up to 20% in the early 1980's), a variable interest rate loan may be a better decision as you would be charged less interest should the rate drop without the need to refinance.
The federal funds rate also has a major impact on your investment portfolio. The stock market reacts very strongly to any changes in interest rates from the Federal Reserve, as a lower rate makes it cheaper for companies to borrow and reinvest while a higher rate may restrict capital and slow short-term growth. If you have a significant portion of your investments in equities, a small change in the federal funds rate can have a large impact on your net worth.
Whether you're leaving a job involuntarily, departing for something new, or just want to prepare for the unknown, it is smart to understand all your options regarding your 401k.
Frugal gifting often gets a bad reputation. However, this shopping method does not make you cheap — it makes you practical. Frugal gifts often avoid waste and overspending and can be just as meaningful (if not more so) as any other present.
With the National Retail Federation predicting each consumer this holiday season to spend upwards of $1,000 on holiday gifts amidst an economic recession —this year might be the perfect time to reconsider your spending budget. We've formulated the ultimate list of frugal gift-giving ideas to get you started.