Money Management

Interest rates have dropped, and refinancing is becoming an option for many homeowners. But here’s what you need to do first. [[{“value”:”

The average 30-year mortgage rate in the United States has fallen from a peak of 7.9% in late 2023 to the current level of around 6% as of late September. Many people who bought homes in the past couple of years could potentially benefit from refinancing their mortgage.

However, just because rates went down doesn’t necessarily mean it’s time for you to refinance right now. Before you decide to refinance your mortgage in 2024, here are three things you need to do.

1. Do the math

The first step is to determine whether refinancing is right for you. This is actually two “things to do” in one.

First, you need to know how to determine your cost savings from refinancing. You can do this with a mortgage calculator. For example, if you have a 7% interest rate and owe $300,000, getting a 6% interest rate could save you about $150 per month.

Second, you need to understand how the fees related to mortgage refinancing work. Some of these fees are quite standard among lenders, such as recording fees and local taxes. But others — particularly the origination fee — can vary widely. In any event, remember that refinancing isn’t free, and has closing costs just like when you get a purchase mortgage.

Need a place to save for refinance closing costs? Click here for our favorite high-yield savings accounts.

By comparing the expected cost savings with the costs of refinancing, you can determine whether refinancing is a good idea. For example, if you expect to save $100 per month by refinancing and it will cost you $3,000 to do it, you’ll break even after 30 months of paying the new loan. If you’re going to be in the home for significantly longer than that, refinancing could be a smart idea.

2. Work on your credit

If you have a FICO® Score in the top credit tiers (typically anything over 760 for mortgage purposes), you can skip this section. But if not, you might be surprised at how much of a difference your credit score can make in your interest rate.

It isn’t uncommon for borrowers with fair credit to get interest rates that are more than a full percentage point greater than the rates offered to excellent-credit borrowers. Even a small increase in your FICO® Score can make a difference.

It could be a smart idea to take some time to work on your credit before refinancing. Maybe take a few months and aggressively pay off credit card debt. But the point is that a better credit score can potentially save you thousands of dollars in interest.

3. Shop around

As a final item on your to-do list, it’s incredibly important to shop around for a lender when refinancing. I don’t just mean reading reviews of several refinancing lenders and deciding which one sounds like the best fit (although reading reviews is a good starting point). I mean actually applying for personalized rates with at least three or four mortgage lenders.

You might be surprised at the different rates and fees. Even an eighth of a percentage point difference in refinancing rates can save the typical home buyer several thousand dollars in interest.

Refinance the right way

The bottom line is that refinancing can be a great idea if mortgage rates are significantly lower than they were when you bought your home. But ensure the numbers work and you’re putting yourself in a position to get the best possible interest rate.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Saving money at Sam’s Club can be easy and routine as you do your everyday shopping. Make avoiding these traps part of your new routine. [[{“value”:”

If all you ever do is use Member’s Mark products to replace your expensive name brands, you’ll probably at least break even on a Sam’s Club membership, if not save a good bit of money.

But there are other ways to save even more. And if you’re not doing them, then you’re effectively losing money.

It’s easy to fall into our regular shopping habits, but some of these stuck-in-a-rut traps could be expensive. Here are a few moves to make sure you avoid on your Sam’s Club trips.

1. Not downloading the Sam’s Club app

Every Sam’s Club shopper should consider downloading the Sam’s Club mobile app. I’ve honestly found that it makes the entire shopping experience better. Here are just some of the things it provides members:

Digital membership card: Save space in your wallet by using your digital membership card through the Sam’s Club app. You can use it in-club and at Sam’s Club gas stations.Scan & Go: With this feature, you scan items into your mobile cart as you shop, then you can just check out in the app. Show the digital receipt to the door person so they can double-check your purchases. Then leave, without waiting in a checkout line.Scan & Go Offers: If saving time isn’t enough for you, Scan & Go can also save you money through exclusive offers. You’ll need to check out with Scan & Go for the offers to apply.See deals and discounts: You can see all of the latest sales and discounts right in the app. This includes the current Instant Savings promotions, as well as your Bonus Offers.

Using the app is simple. Simply download it and sign into your Sam’s Club account. You can get to Scan & Go in one tap from the home screen. Your digital membership card lives under the Account tab.

You’ll also want to add a credit card so you can use Scan & Go to check out. Consider a good cash back rewards card to earn money back on your Sam’s Club purchases. Click here to see our curated list of the best cash back credit cards to help you maximize your future shopping trips.

2. Bypassing the gift card racks

Sam’s Club sells a ton of different gift cards to popular brands at huge discounts. I’m talking as much as 20% and 30% off the face value.

If you tend to give out gift cards for presents, or you simply like to eat out, play video games, or go to the movies, then you need to stop by the gift card racks when you’re in the store. (Or the gift card page on the website/app.)

Discounts like these could add that weekly night out back to the budget.

3. Not comparison shopping big items

To be frank, you should also compare prices on your smaller purchases, too. But you absolutely, positively should always make sure you comparison shop for larger purchases before you assume Sam’s Club has the best price.

Does Sam’s Club often have the best price, especially compared to regular retailers (and even sometimes Costco)? Sure, often — but not always.

Assuming Sam’s Club has the best deal could be an expensive mistake. Checking a few other retailers before purchasing (especially the manufacturer’s website) takes minutes and could save you a lot of money.

4. Not upgrading to Plus if you spend a lot

As annoying as it is when you get the upsell for a Plus membership, many of us probably could actually benefit from upgrading to Plus. The main reason being the 2% Sam’s Cash you earn on in-club purchases.

If you spend more than $250 a month at Sam’s Club, then an upgrade could be worth the cost:

Now, keep in mind you don’t earn the 2% Sam’s Club Cash for samsclub.com purchases, so you won’t earn as much if you mostly shop online. That said, Plus does unlock free shipping (for orders of $50 and up), so it could still be worth the upgrade.

5. Skipping meals before shopping

I think we’ve all done it before: You head into Sam’s Club for your weekend shop, skipping lunch because you had too much to do, and figure you’ll just snack on samples while you shop.

Next thing you know, you have a cart full of junk food and a five-pound tub of almonds. And you forgot the paper towels.

Instead of saving the food court stop for the way out, consider enjoying your slice of pizza before you start shopping. While you’re eating, go over your shopping list to refresh it in your mind and help you keep on target while you shop.

6. Not reading the return policy

Sam’s Club has a very generous return policy for most things. But it isn’t without its restrictions and limitations. For example, tablets and appliances tend to have 90-day return policies instead of the more typical “whenever” of other Sam’s Club items.

Read up on the exclusions to familiarize yourself with what types of items might not be included. If you’re ever concerned, check the “Return policy” section on the item’s page online or in the app to see which policy applies.

Sam’s Club can be a great place to save money, but there are still plenty of ways we can get off track. Keep these potential traps in mind so you can avoid them in the future.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Brittney Myers has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

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Now’s the time to upgrade your home with smart renovations. Discover expert tips to add value and attract buyers. [[{“value”:”

Mortgage rates are the lowest they’ve been in a year, and with the Federal Reserve expected to continue lowering its benchmark interest rate, there’s never been a better time to invest in home upgrades. Autumn is traditionally a busy time for real estate, but these economic factors have created a particularly promising environment for buyers and sellers alike. According to top celebrity real estate brokers Tom Postilio and Mickey Conlon, this fall is shaping up to be especially active.

“We predict that there will be lots of new inventory coming to market, along with many new buyers who’ve been waiting for this moment,” said Tom and Mickey, who are responsible for nearly $3 billion in residential sales and rank among the top real estate brokers in the U.S.

Their advice? If you’re planning to upgrade your home, now’s the time to do it, and there are key renovations that can make your property stand out in a competitive market. Whether you’re preparing to sell or simply want to boost your home’s appeal, here are the top three renovations to consider.

1. Create flexible spaces

The COVID-19 pandemic changed how we live and work, which means the demand for versatile home spaces is here to stay. By creating “flexible” rooms — think home offices, gyms, or guest spaces — you’ll make your home more functional and appealing to potential buyers.

Tom and Mickey recommend using modular furniture or built-in storage to maximize space and reduce clutter. “The perception of more space and flexibility adds value, appeals to a broader pool of prospective buyers, and makes your home more competitive with larger, more expensive homes,” they explain.

With more people working remotely or embracing hybrid schedules, buyers are looking for homes that can adapt to their changing needs. If you’re planning to stay in your home, a flexible room can be whatever you need it to be — an office today, a guest room next month, and a home gym whenever you’re ready to tackle your fitness goals.

Going to need some help funding your renovation plans? Click here to see our recommendations for some of the best renovation loans and get started with a lender today.

2. Make your home smart and energy efficient

The trend toward smarter, more energy-efficient homes continues to grow, and for good reason. Upgrading your home’s technology makes your life easier and can reduce utility costs and your environmental footprint. This especially appeals to today’s eco-conscious buyers, who prioritize homes that offer both convenience and sustainability.

Start by installing a smart thermostat, which can be controlled remotely and help you save on heating and cooling costs. “Efficiency in homes has become a big bonus,” Tom and Mickey explain. “Smart thermostats, lighting, security cameras, and even kitchen appliances that can all be controlled through a smart home hub/app can simplify and make life so much easier.”

Energy-efficient upgrades, such as adding solar panels or replacing windows and doors, can also be a smart investment. Not only will these improvements reduce your energy bills, but they’ll also make your home more comfortable year-round. Over time, these upgrades will pay for themselves in energy savings, and they’ll be a major draw for potential buyers when you’re ready to sell.

3. Give your kitchen a “glow up”

If you’re going to focus your renovation efforts on just one room, it should be the kitchen. This space is often the heart of the home, where families gather, meals are prepared, and memories are made. And when it comes time to sell, the kitchen can make or break a deal.

Upgrading your kitchen doesn’t have to mean a full-gut renovation. Small changes can have a big impact, from adding open shelving to swapping out dated countertops for modern quartz or marble. Another popular upgrade is installing soft-close cabinets — this is something you can even DIY with your existing cabinets for a budget-friendly solution.

Tom and Mickey also recommend adding an island if your kitchen layout allows for it. “Adding an island can also provide extra prep space and room for seating,” they suggest.

If you’re considering a more extensive renovation, such as new cabinetry, flooring, or appliances, it’s worth working with an experienced designer to ensure you’re making the most of your investment. A well-planned kitchen renovation can offer one of the highest returns on investment (60%-80%), especially in today’s market.

As Tom and Mickey explain, “These renovations not only make your home more enjoyable, but they also make it more attractive to future buyers.” Whether you’re planning to sell or simply want to enjoy your space more, these upgrades will help your home stand out in today’s competitive market.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Open enrollment gives small business owners a powerful opportunity to get lower taxes and bigger investment gains. But only if you avoid this one big mistake. [[{“value”:”

This is an embarrassing true story: I made a big tax mistake for 2024. As a small business owner, I buy health insurance for my family on HealthCare.gov. In 2022, I had a health savings account (HSA) as part of our health insurance. But last year at open enrollment, I accidentally chose a non-HSA-eligible plan.

Choosing the wrong health insurance plan and not getting to use an HSA meant paying thousands in extra taxes in 2024. If you miss your chance to choose an HSA-eligible health insurance plan for 2025, you could miss out on up to $8,550 of 2025 tax deductions.

Let’s take a closer look at what a health savings account is, why it’s such a great tax break, and why small business owners should try to avoid my tax mistake.

What is a health savings account?

A health savings account is a special kind of tax-advantaged account that lets you set aside money for healthcare costs. You can use your HSA to pay for IRS-approved qualified healthcare costs with pre-tax dollars.

Or if you don’t have a lot of healthcare expenses right now, you can use your HSA funds to buy stocks and ETFs.

Just like a traditional IRA, the HSA can serve as another place to put tax-deductible dollars to invest for the future.

The IRS has announced that the new deductible contribution limits for HSAs for 2025 will be:

$4,300 for an individual with self-only health insurance coverage$8,550 for family coverage

Especially if you have some extra cash to save outside of a traditional IRA, or if you don’t qualify for a tax deduction on a traditional IRA, opening a health savings account is generally a good move. It’s an excellent way to get a tax break on your healthcare costs — potentially increasing your tax deductions by thousands of dollars.

How to get a health savings account

Not everyone can use an HSA. To qualify for a health savings account, you need to have a qualifying high-deductible health plan (HDHP). This is where you have to be careful to choose the right plan at open enrollment. For 2025, here are the limits to have your plan qualify as an HDHP that is eligible to use a health savings account:

Single person (self-only) insurance coverage: Your health insurance plan’s annual deductible must be at least $1,650, and its annual out-of-pocket expenses must not exceed $8,300.Family insurance coverage: Your health insurance plan’s deductible must be at least $3,300, and annual out-of-pocket expenses must not exceed $16,600.

This is where I made my mistake at last year’s open enrollment: I chose a health plan that was high deductible, and had high out-of-pocket expenses — but the plan’s out-of-pocket expenses were too high for an HSA. All year, I’ve been stuck with this non-HSA-eligible plan, missing out on $8,300 in tax deductions for 2024.

Read the fine print carefully when you’re signing up for health insurance at open enrollment 2024. If you want an HSA-eligible plan, be careful not to accidentally choose a plan with out-of-pocket costs that are too high to qualify for an HSA.

Why HSAs are great for small business tax breaks

Here are a few quick reasons why health savings accounts are worth considering.

1. You get an immediate tax deduction

Deduct up to $8,550 for 2025 (with family coverage). People age 55 and over can make an additional $1,000 catchup contribution to HSAs.

2. Use your HSA money for tax-advantaged “discount” on healthcare costs

The most obvious way to use HSA money is to pay for healthcare. You can use your HSA to pay for a wide range of qualified medical and dental expenses, like hospital bills, doctor visits, dental visits, prescription drugs, orthodontics, and more.

Every dollar you spend from your HSA is effectively giving you a percentage discount on healthcare based on your tax bracket, because you’re spending pre-tax dollars. For example, if you’re in the 22% tax bracket, every $100 contributed to your HSA saves you $22 on taxes. This can take some of the sting out of paying medical bills with HSA money.

3. Let your HSA money grow tax free for future healthcare costs

You don’t have to spend your HSA money right away. If you don’t have a lot of healthcare costs, or if you have other cash you can use to pay for the current year’s healthcare spending, you can invest your HSA money for the long term. HSA money can be invested in ETFs, stocks, bonds, or other assets to grow tax free for the future — no capital gains tax on the investment growth.

And if you use your HSA money for healthcare costs at any time, you can withdraw it tax free. Or if you wait until after age 65, you can withdraw your HSA money for any reason — but you’ll owe income tax on withdrawals that are not used for healthcare expenses. The HSA can serve as an “extra” retirement savings account — use it for healthcare, or just “fun money” or everyday living expenses in retirement.

Bottom line

Getting an HSA is a great tax move for small business owners, who often struggle to find affordable health insurance plans and end up paying for lots of medical bills out of pocket. Choosing an HSA-eligible plan should be your top priority for open enrollment for 2025.

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Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Have you ever saved $1,000 in one month? See how to save $1,000 by shopping at Costco — with limited time deals through Oct. 31, 2024. [[{“value”:”

Did you know that one of the best ways to save money at Costco is with limited-time offers? Some Costco deals have special manufacturer’s savings that give you extra discounts beyond the usual low prices. But you have to act fast! These deals don’t last long, and they can help you maximize your Costco membership.

Here are eight picks for the best Costco buys in October 2024 that offer limited-time manufacturer’s savings. If you buy all eight items on this list, you’ll save $1,000.

(All deals were available for online shopping with prices shown for my local Costco warehouse in West Des Moines, Iowa, as of Oct. 1, 2024. Prices may vary by location.)

1. Allied Home RDS Down Blanket ($74.99)

Winter is coming, so that means it’s time to get cozy. This down blanket is hypoallergenic and machine washable, and comes in a variety of colors and fits queen-size beds. (Note: As of Oct. 1, 2024, most of the colors were already out of stock, so hurry before they’re gone!)

How much you save at Costco: This price includes $20 of manufacturer’s savings, valid through Oct. 31, 2024. While supplies last. Limit 10 per member.

2. Tramontina 12-piece Tri-Ply Clad Stainless Steel Cookware Set ($159.99)

Are you tired of spending money on restaurants, takeout, food delivery, and microwaved meal kits? Saving money is more fun — and tastes more delicious — when you raise your home cooking game with this Tramontina stainless steel professional-quality cookware set. These pots and pans are dishwasher safe, oven safe up to 500 degrees, and compatible with all cooktops.

How much you save at Costco: This price includes $40 of manufacturer’s savings, valid through Oct. 31, 2024. While supplies last. Limit five per member.

Want to boost your Costco savings even more than the $1,000 of special savings shown here? The best Costco credit cards help you earn 2% to 3% every time you shop at Costco. Click here to see our experts’ picks for credit cards that offer big rewards at Costco.

3. Brentwood Home Tahoe 10″ Cooling Gel Hybrid Mattress ($289.99)

If you need a new mattress for yourself, your growing child, guest room, spare bedroom, or daybed, this cooling gel hybrid mattress could be a good buy. It features a 10-inch four-layer hybrid mattress construction with advanced cooling memory foam and premium encased coils for durable support. This price is for a twin-size mattress, but it’s also available in twin XL, full, and queen sizes.

How much you save at Costco: This price includes $90 of manufacturer’s savings, valid through Oct. 31, 2024. While supplies last. Limit 10 per member.

4. TRINITY 48″ Bamboo Kitchen Cart with Drawers ($379.99)

Would your kitchen be perfect if you just had one more shelf? Look no further — this bamboo kitchen cart puts two extra shelves and drawers at your beck and call. Made with a solid bamboo top, this portable work and storage space can make your kitchen more organized and usable.

How much you save at Costco: This price includes $100 of manufacturer’s savings, valid through Oct. 31, 2024. While supplies last. Limit five per member.

5. Philips 3200 Series Fully Automatic Espresso Machine with LatteGo Milk Frother ($499.99)

Do you ever wish your morning coffee could taste like it came from a commercial-grade espresso machine? Bring the spirit of the coffee shop to your kitchen counter with this Philips 3200 Series Fully Automatic Espresso Machine. Starting with beans and milk, this machine makes five types of coffee drinks, ranging from Americano to cappuccino to latte macchiato.

How much you save at Costco: This price includes $150 of manufacturer’s savings, valid through Oct. 31, 2024. While supplies last. Limit five per member.

6. HP Pavilion 16″ Touchscreen Laptop – Intel Core 7 150U – Blue ($699.99)

Back-to-school season has already passed, but it’s never too late to upgrade your favorite student’s laptop — or treat yourself to a new laptop. This HP Pavilion 16-inch touchscreen laptop features an Intel® Core™ 7 150U (10-Core) Processor, 32 GB of RAM, wifi 6 and Bluetooth 5.3 capabilities, and a backlit keyboard.

How much you save at Costco: This price includes $200 of manufacturer’s savings, valid through Oct. 31, 2024. While supplies last. Limit two per member.

7. Birkdale 5-piece Dining Table Set ($799.99)

Level up your home dining experience with this stylish dining table set. It includes one round table and four upholstered chairs. All pieces are made with mindi veneer and have adjustable leg levelers.

How much you save at Costco: This price includes $200 of manufacturer’s savings, valid through Oct. 31, 2024. While supplies last. Limit five per member.

8. ProForm Pro Trainer 1000 Treadmill ($999.99)

Get moving for a healthier lifestyle without leaving the house! This gym-style treadmill offers a 10-inch tilting touchscreen, SpaceSaver® design and transport wheels, and easy controls to go from zero to 12 miles per hour, and from a zero-degree incline to a 12-degree incline, with just one touch.

How much you save at Costco: This price includes $200 of manufacturer’s savings, valid through Oct. 31, 2024. While supplies last. Limit five per member.

Bottom line

Just these eight items can deliver $1,000 of extra savings at Costco in October 2024. And remember to use the best Costco credit cards to get up to 2% or more of extra rewards.

Top credit card to use at Costco (and everywhere else!)

We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco.

Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.

Click here to read our full review for free and apply before the $200 welcome bonus offer ends!

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

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Yes, you really can start a business for under $500. Here’s how the internet, free resources, and remote work have made it easier than ever. [[{“value”:”

This is a great time to start a business, and for all sorts of reasons. For starters, the internet has leveled the playing field, both in terms of start-up costs as well as offering social media marketing.

Moreover, there is a lot of free online help and coaching available. And finally, because of the pandemic, working from home has become the norm, so no need to pay for expensive rent.

All of which is to say, starting a business for less than $500 is quite possible today. Here are 10 options to wet your whistle.

1. Dropshipping

Dropshipping is an e-commerce system that allows you to sell products online without the need for buying or stocking inventory, making it an incredibly affordable business to start. Instead, you work with a wholesaler or distributor that stocks the product and you set up an online store that sells the product(s).

Because the supplier handles inventory and shipping, your focus is on marketing and customer service. You and the wholesaler then split the profit.

2. Online education products

This business involves creating and selling online courses or e-books. You could offer courses or e-books on a wide range of topics, such as business, personal development, technology, or whatever your interest. The cost to start this business is relatively low as you can use a website builder like Teachable or Thinkific to sell courses and you can sell your e-books on Amazon.

3. Affiliate marketing

Here, you promote products or services of other businesses and earn a commission for any sales you make. You could promote the products via a website, a social media channel, an e-newsletter, on TikTok, you name it. Is there a market for this? Forbes says that online sales are expected to total more than $6 trillion this year.

4. Etsy store

If you are crafty, selling handmade products like jewelry, candles, or art on a platform like Etsy can be quite profitable. Social media and word of mouth can help you market your products — and these channels cost nothing. As demand grows, you can expand your offerings.

Let’s now look at some offline businesses you could start on the cheap.

5. Mobile notary

Becoming a mobile notary is a flexible and low-cost business that can generate steady income. With a small investment in notary training, certification, and supplies like a notary seal and a journal, you can start offering services such as witnessing signatures on legal documents, real estate transactions, and other important paperwork.

And as a mobile notary, you can offer the added convenience of traveling to clients’ locations, making your service more accessible, appealing, and marketable.

6. Car detailing

Staying with the car theme, what about setting up a car-detailing service? Overhead is low as you simply need basic cleaning supplies like soaps, waxes, a vacuum cleaner, and microfiber cloths. This is another business where offering a mobile option makes a lot of sense.

7. Fitness trainer

If you are passionate about fitness and have some expertise in fitness, nutrition, yoga, or something similar, you could easily and affordably start a personal fitness business. You can offer sessions in your own home, a local park, in clients’ homes, or even online.

8. House cleaning

A house-cleaning business will never go out of style and is always needed. Upfront costs are minimal and you can start by offering your services to friends and family or advertising locally. House cleaning is also fairly recession proof, as in good times people like it, and in tougher economic times, they often work extra hours and do not have time to do their own deep cleaning.

9. Gardener

Lawn care is another low-cost business that can quickly grow through word of mouth. The basic initial investment would be for equipment like a lawnmower and trimmer, and also transportation. Offering seasonal services, like leaf raking or snow removal, can also provide year-round, all-season income.

10. Junk removal

People always need stuff hauled away. If you have a truck (or can get access to one), this just might be the right business for you. You can advertise for almost nothing on Craigslist and offer services to homeowners, real estate agents, and business owners who need to get rid of, well…junk.

So there you have it. No need to keep toiling away for The Man. With ideas like these, you can be your own boss with a fat bank account balance, and sooner than you’d think.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool has positions in and recommends Amazon and Etsy. The Motley Fool has a disclosure policy.

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