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SoFi Blog

Tips and news—
for your financial moves.

private school students feet

Is Sending Your Child to Private School Worth It?

With tuition costs on the rise at private primary and secondary schools, as well as private universities, parents often have to make choices about how much money they can spend on their child’s education—and when to spend it.

If education costs are going to be a struggle, should they invest their money early on in a private school that lays a solid foundation for the future? Or should they save their dollars for college tuition and give their child a head start on life without the burden of student debt?

Many parents, of course, will find ways to pay for everything. They might sacrifice their retirement savings, downsize their lifestyle (maybe with a less-expensive home or fewer vacations), or borrow to help pay for student costs.

But is a private school education really worth it?

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A little holiday help from SoFi

Happy Holidays from SoFi!

‘Tis the season for sitting by the fire with a cup of cocoa, a warm, fuzzy blanket, and your 2020 budget.

What’s that? Getting your money right wasn’t in the plans this holiday? No worries!

We’ve put together some tips to help you ring in the New Year a bit more mindfully when it comes to your finances.

From creating realistic spending targets to budgeting tips for couples, we’re here to help turn your 2020 into 20money. So pull up a chair, grab another snickerdoodle, and enjoy our collection of festive videos below.

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hands holding knit heart

Protecting Yourself From Charity Scams This Holiday Season

Giving back during the holiday season can feel really great. When you donate a portion of your hard-earned money to charitable causes such as homelessness, wildlife preservation, hunger relief, or many others, you could potentially make a positive impact on someone’s life or even the world as a whole.

In theory, the internet makes it extremely easy to donate to these causes. However, there are many organizations and individuals who prey on others’ generosity via false and/or unsecure websites.

These swindlers aim to con people into handing over funds to fake charities for personal gain. If you fall for one of these donation scams, you could run the risk of not only losing your money but also compromising your personal information.

There are many honest and reputable charities out there doing great work, but how can you tell the difference between the real and the fake? The following seven guidelines could help you identify and avoid charity scams this holiday so you can better protect your money while still giving back.

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smart home device

Protecting Yourself from Your Smart Devices

Alexa, how can I protect myself from… you?

Baby monitors, digital assistants, thermostats, doorbells, security cameras, even light bulbs and refrigerators are now able to connect, share, and interact with users and other devices.

With so many smart devices available, it might be hard to see the downside of technology that puts monitoring and control of homelife directly in the hands of the consumer.

But when connecting these everyday objects to the Internet, however, there is also the possibility of leaving your home vulnerable to attacks from digital hackers.

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SoFi’s 2019 Year in Review

As 2019 comes to a close, we are eager to look back on the year and see how our members fared financially. From paying off student loans to getting started with investing, we found that members really focused on building their financial health this year—and they achieved a number of milestones along the way.

To really dig into the specifics, we surveyed over 1,000 SoFi members and 1,000 general consumers (ages 24-73)1 across the U.S. to get their insights on how they did financially in 2019, the key financial trends of the year, and the financial goals they hope to achieve in 2020.

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