SoFi Blog

Tips and news—
for your financial moves.

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7 Non-Traditional Employee Benefits to Look for When Job Searching

When searching for a new job, it is common to look for a position that offers a competitive pay rate, an opportunity for inter-company growth, a comprehensive health-care package, and a generous time-off policy. Additional factors such as a short commute time, specific perks for working parents, and stock options could also be enticing.

Recently, however, more and more companies seem to be modernizing and innovating their employee benefits program beyond the norm to attract and retain new workers.

While these more unusual offerings could at first seem like trivial bonuses rather than significant aid, they often result in positive impacts on an employee’s life.

According to a 2019 survey conducted by The Harris Poll, 80 percent of respondents claimed they would take a job that had benefits over a job that made 30% more in salary but did not offer benefits. When determining if accepting a job with unusual benefits is worthwhile to you, it is important to keep your individual and/or family needs, lifestyle, and budget in mind.

If you’re on the hunt for a new role, keep an eye out for the following left-of-center benefits that could help you improve your physical and emotional health, better manage your time, grow your wealth, or save money.

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Let’s Pass the Employer Participation in Repayment Act

SoFi Members and Community at Large,

We’re on a mission at SoFi to help you get your money right.

Our products are only part of the picture. Your financial independence also depends on laws and regulations coming out of Washington, DC. And there is one bill in particular that we think could have a meaningful positive impact for many of you: The Employer Participation in Repayment Act.

Right now, if your employers want to help you pay down your debt, 12 – 37% (depending on your tax bracket) of their contributions get eaten up in federal income taxes.

But, under this bill, your employers’ contributions up to $5,250 would be tax free. So, 100% of the money goes toward paying down your debt.

The education you paid for is benefitting your employer. Why shouldn’t your employer be able to do more to help pay down the debt you incurred? 

That’s why SoFi has been working with the Debt-Free Tax-Free Coalition to urge Congress to pass the bill. We have over 200+ sponsors – both Democrats and Republicans.

Congress will only pass this bill if they hear from voters like you telling them it’s important to you. So, please, click here to voice your support and help employers make their footprint bigger than their foot!!

Thank you for being active members of our community.

Anthony Noto
Chief Executive Officer

 

 

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How to Track and Maximize Rebates on Holiday Purchases

Is there anything better than a bargain? Splurging can be fun and all, but scoring an amazing product at a fantastic price? Well, that sounds even better. For some holiday shoppers, holding out for a competitive price is worth it. According to one survey by RetailMeNot , Americans are willing to wait 57 days, on average, in order to find a good deal on a product.

So, if you’re on the hunt for a discount this season, the promise of getting money back on a purchase can be enticing. Retailers and manufacturers looking to make a sale may offer some sort of rebate in order to sweeten the deal.

Some are upfront discounts, others are more conditional like buy-one-get-one sales, while others may require a bit of work on the customer’s behalf. For some, the promise of 15% off a luxury purchase could be alluring enough to go through the process of submitting a mail-in rebate.

But success can sometimes be difficult to achieve when it comes to mail-in rebates. If you’re new to the whole idea, you may be googling “How to do a mail in rebate?” While the process may vary slightly depending on the manufacturer, here are a few guidelines that could help you navigate the mail-in rebate process this holiday season.

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colorful peaks

Your November Monthly Market Commentary

As many of us began our annual tradition of eating, traveling, and spending time with the family, the stock market embraced the holiday season and reached all-time highs—yet again. November also included some major news in the financial services space along with some highly anticipated product launches and announcements in other sectors. As you watch your favorite holiday movies (my vote is for Elf), sit back and catch up on some highlights from November.

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woman student on laptop

Study Tips for Finals

College might seem like a marathon, but each semester or quarter can feel more like a sprint, with the syllabus as the starting block and finals week as the finish.

The good news is that you learn a tremendous amount of new information during those weeks. The bad news is that, before you can ride off into the sunset of class break, you have to Remember. It. All.

Finals week is when the library is aglow 24 hours a day, full of students with their noses in books or laptops, possibly on the verge of a freak-out. It’s exhausting to be sure, and the stakes can be high, especially for students whose financial aid require that they maintain a minimum GPA.

But while finals week can be taxing, it doesn’t have to be chaotic. These study tips for finals can help you plan, prepare and tackle each test with confidence.

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