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A wedding day is typically a celebration you’ve dreamed of and eagerly anticipated, but it can also be a major expense. If you’re wondering if you should finance your wedding, here is some guidance when it comes to making that decision. From payment plans to personal loans and everything in between, options abound for making your big day happen.

Understanding Wedding Costs Before Making a Plan

SoFi’s most recent survey found that the median cost of a wedding is $10,000, and when you look at average costs, you may see figures like the $36,000 price tag shared by Zola, a wedding registry site. Of course, prices can vary tremendously depending on what you plan: A destination wedding or one held in a big city with 300-plus guests will likely be a much bigger expense than having 50 of your nearest and dearest gather in your grandmother’s beautiful backyard flower garden.

Breaking Down Wedding Expenses by Category

Here’s a look at some of the key contributors to the cost of a wedding, according to The Knot, a wedding site:

•   27%: Venue and rentals

•   24%: Catering, cake, and drinks

•   10%: Photography and video

•   9%: Floral and decor

•   8%: Music

•   6%: Clothing and beauty

•   5%: Wedding rings

•   4%: Wedding planner

•   3%: Guest entertainment

•   2%: Transportation

•   1%: Stationery

•   1%: Officiant

Setting a Realistic Budget

To set a realistic budget, it’s wise to delve into some real-world prices and see what’s affordable given your financial situation. You may find that swapping out a swanky hotel ballroom for local, loft-style event space can help you save money, or limiting the guest list to 75 people instead of 175 can be a route to having an affordable wedding of your dreams.

Developing a spreadsheet that lists out your total budget and how much you will spend on each category is a helpful exercise. Also consider what you might be able to borrow or what friends and family can help with (perhaps they can handle flowers and decor).

An online wedding cost calculator can help you set a realistic budget for your wedding, too.

8 Ways to Pay for Your Wedding

There are many variables that can affect the average cost of a wedding, including the time of year you say “I do,” the day of the week, the number of guests, the reception venue, and a host of other factors (such as unexpected wedding expenses).

Whatever your budget may be, here are some ways to fund your big day.

1. Personal Savings

Perhaps you have already saved up a nice bundle of cash that you can put toward your wedding. Or maybe you have just gotten engaged and have a year or two to save up enough money for your wedding. Using this kind of money to finance your wedding helps you avoid interest charges. Keep the cash in a high-yield savings account to help it grow via the power of compound interest.

2. Wedding-Specific Savings Plan

You can also set up a wedding-specific savings plan. This means you have a dedicated amount into which you will regularly deposit a sum of money or use recurring automated transfers to stockpile cash in it. This can help you save enough money for your ceremony and celebration.

3. Family Contributions

Depending on your family situation, your parents and other relatives may be able to pay for some or all of your wedding expenses. It used to be common for the bride’s parents to pay for the wedding, but today, it’s often a matter of the family making a contribution toward the total cost, if at all.

4. Personal Loans

Personal loans are typically unsecured loans that can be used for almost any purpose. The interest rate charged can be lower than those of credit cards, and they offer a lump sum of cash (usually between $1,000 and $50,000 or even $100,000) that is then repaid in installments over a few or several years.

Some lenders specifically offer wedding loans, tailored to the needs of couples planning their big day.

5. Credit Cards

A convenient way to finance wedding costs can be breaking out your plastic. While this is a quick and easy way to pay vendors, be sure you are aware of and can afford this kind of high-interest debt. Also stay aware of your credit limit. Financial experts advise that having a balance that is more than 30% of your credit limit can negatively impact your credit score.

6. Wedding Funds or Registries

You can crowd-source money for your “I do” day by opening a wedding fund. Usually, the couple lets people know that they would prefer to receive cash vs. physical gifts from guests by directing invitees to a cash registry. This money can then be used to pay for wedding costs.

7. Side Hustles and Extra Income

Not everyone has the time or energy for a side hustle, but working a part-time gig can help you pump up your savings for your wedding. Whether that means selling your service as a pet photographer or driving a rideshare every other weekend, these pursuits can help you bring in extra cash to pay for a wedding.

You might also sell stuff you no longer want or need to bring in some additional money.

8. Vendor Payment Plans

You may find that some vendors, such as your event space or caterer, offer payment plans, allowing you to put money toward your debt over time. Check the details carefully to be sure that the interest rate and fees are fully understood and affordable.

The Pros of Financing a Wedding

Here are some of the upsides of financing a wedding:

•   You get your day with all the bells and whistles that you’ve dreamed of. You have the wiggle room to have more guests, a highly sought-after DJ or band, and food that will still be talked about on your anniversary. Mission accomplished in having a special day that will last a lifetime of memories, even if you don’t have all the cash waiting in the bank.

•   You might be able to borrow enough money to have a relaxing honeymoon, too, which might be nice after the stress of wedding planning.

•   You won’t deplete your savings to pay for your wedding. Starting your life together without an emergency savings account can be stressful.

The Cons of Financing a Wedding

Next, here are the downsides of financing a wedding:

•   When the wedding is long over, that monthly loan payment is still owed. Depending on the amount and term of the loan, that can be a big commitment.

•   Interest rates for loans and lines of credit typically vary based on the borrower’s credit rating and other factors. If you don’t qualify for favorable interest rates, you could end up paying a decent amount in interest over the life of the loan.

•   Taking out a loan also increases your debt-to-income (DTI) ratio. If you are planning on near-future large purchases that will require another loan, like a mortgage, having a high DTI ratio might make it more difficult to qualify for future loans, or might affect the rates you qualify for.

Creating Your Wedding Payment Strategy

Paying for wedding expenses can require a significant amount of cash, so it can be wise to be strategic about how you’ll pay your bills. Here are a couple of ideas:

Mixing Different Payment Methods

You don’t have to go all in on just one payment plan. For instance, if your caterer offers a super-low interest rate on their payment plan, you might want to sign up for that, and then use a personal loan to pay for other expenses, such as the wedding dress, rings, music, and photography.

As with any kind of loan or line of credit, but sure you understand the fees and interest rate (and whether, say, prepayment penalties are applicable). Either a lower interest rate or a shorter term may save money in the long run. A personal loan calculator or amortization table can help with this analysis, so you know exactly how much you are spending.

Timeline Considerations

Another important consideration when deciding on financing is how long of a run-up you have to the wedding itself. If you are planning on getting married in, say, two years, you could have a good amount of time to budget and save.

If, however, you are planning on a short engagement, then financing your wedding or asking for cash gifts might better suit your timeline.

Recommended: A Guide to Unsecured Personal Loans

Tips for Reducing Wedding Costs

If you’re having second thoughts about the cost of your wedding and how to afford it, know that with wedding planning, there’s usually a way to reduce expenses.

Off-Season and Weekday Discounts

The high season for weddings is usually late spring through fall. That’s when demand and prices are highest. You may be able to save big by booking a winter wedding or early spring one.

Similarly, you’ll find that costs tend to peak for weekend weddings. If you can swing, say, a Thursday night instead of a Saturday, you could save a significant amount.

DIY Elements

Think about how you could save money by DIY-ing some aspects of your wedding vs. paying a professional. Also, you might tap friends and family to contribute. For instance, if you have a friend who loves to bake, perhaps they would make your cake. Or if you have a friend with a flair for photography, they could shoot your pictures as a gift to you and your partner. If you have a cousin who’s in a band, they might play at your wedding for free or a reduced rate. Perhaps your family members would be happy to create centerpieces and bouquets from affordably sourced flowers. Think freely, and call in those favors!

Any of these ideas will help you save money and avoid financing your wedding’s full cost.

Prioritizing What Matters Most

There’s no law that you have to have a traditional wedding. If what matters most to you is having a wedding that involves dancing till dawn, or having 200 friends and family members with you as you say your vows, go ahead, but then perhaps do a potluck meal so you don’t have to shell out for a huge catering bill, too.

If you’re a foodie, maybe your wedding celebration could be a small dinner in a private room at your favorite restaurant after the ceremony. By prioritizing what matters most to you on your special day, you can have a wonderful wedding without landing in deep debt.

How to Avoid Wedding Debt Altogether

If you are looking for some inspo on how to avoid wedding debt, consider these possibilities:

•   Postpone the wedding. You might be able to avoid borrowing altogether by postponing the wedding to give yourself time to save the money to pay for it. Cutting unnecessary expenses might free up some money in your budget. Or earning extra money by taking on a side hustle might be a good way to add to your savings.

•   Use a zero-interest credit card. Using a credit card to pay for wedding expenses might be another option. While a personal loan might offer a lower rate than a credit card, you might find credit card offers with low introductory rates — perhaps even 0% — for a limited time. If you’re confident that you can pay the card off in full before the introductory rate ends, this could be an attractive option.

•   Ask your family to contribute. Asking parents for money might not be the most appealing option, but it might be a worthwhile consideration. Even though the average age of newlywed couples is rising, which might mean more couples are established financially before they marry, it’s still common for the couple to have help paying for the wedding.

•   Elope. If your priorities are saving for a down payment on a house or paying off college debt, maybe you are the kind of person who would be comfortable eloping or having a city hall ceremony and Champagne with just a few of your nearest and dearest. That can definitely be a way to avoid debt from financing a wedding.

The Takeaway

Your wedding is a special day, but it can be a very expensive one. Think carefully about how to budget for and finance your wedding, which can often cost five figures. Some ideas are saving the money, asking loved ones to contribute, using vendor payment plans, and taking out a personal loan.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

FAQ

What’s the best way to pay for a wedding?

There is no one best way to pay for a wedding. Your personal finances and the kind of wedding you are having will play a role in deciding what works best. By saving up for a wedding or asking for help financing it, however, you may be able to avoid some or all of the interest charges you’ll encounter if you take out a loan or use a credit card.

How far in advance should we start saving for our wedding?

A wise way to figure out when to start saving is to calculate how much your wedding will cost, subtract how much relatives might contribute, and then divide that sum by how much you can save every month. So if you want to raise $10,000 and you and your partner can put aside $500 a month, then it would take 20 months to accumulate the funds needed.

Is it common for parents to pay for weddings today?

It is less common than in the past, but many parents do pay for weddings or at least make a contribution to the cost. Since the age at which people marry is rising, it’s become more common for the couple to have the financial means to pay their own way.

How can we ask for money instead of gifts?

You can put the word out tactfully among friends and family, or use a wedding website that clearly shows your registry preference is cash vs. gifts. Zola, Honeyfund, The Knot, and Joy are among the options you may find. Compare fees and features to find the best fit.

Where should I keep a wedding fund?

If you’re saving money towards a wedding, it’s wise to keep it in a high-yield savings account, where it’s safe, accessible, and earning interest.

Photo credit: iStock/PeopleImages

SOPL-Q225-031

A financial coach works with clients to help them better manage their money and to develop healthy, long-lasting, finance-related habits.

If you need help getting your finances organized or setting up a plan to effectively work towards your financial goals, you might benefit from the help of a financial coach. These professionals can help clients pay off debt, create an emergency savings fund, stabilize their finances, and develop an overall financial plan.

Unlike financial advisors, financial coaches generally spend more time helping their clients understand the fundamentals of finances, rather than recommending investments and managing their investment portfolios.

Read on to learn more about financial coaches, what they do, how much they cost, and how to find one.

What Does a Financial Coach Do?

According to the Consumer Financial Protection Bureau, a financial coach is a trained professional who collaborates with and guides their clients to reach their financial goals, including:

•   Better money management skills

•   Improved savings, debt levels, and credit

•   More financial confidence

Financial coaches typically individualize their approach based on the needs of each client, with the goal of helping them make progress in the area of their financial life that they identify as most important. For example, a financial coach might help you reach your financial goals by teaching you how to build savings, avoid overspending, or pay down debt.

Financial coaches also often assist their clients with the behavioral and emotional components of managing money. A coach can help you uncover what drives your financial decisions, so you can create a healthier attitude that leads to better money habits.

Coaches often work with their clients over the period of several weeks to several months and may meet weekly or biweekly to provide advice and check on progress. The full coaching process may include:

•   Building awareness around spending habits (usually by tracking daily, weekly, and monthly spending)

•   Defining the client’s financial goals

•   Developing a budget and a financial plan to achieve those goals

Accountability is also typically built into the process. So rather than managing a person’s finances, a financial coach gives clients the tools to help make informed and responsible financial decisions.

What a financial coach can’t do: offer investment recommendations or help clients manage their investment portfolios. While coaches can provide basic advice on the concept of investing, they are not licensed to provide financial advice like financial advisors are, and therefore cannot provide specific product recommendations.

💡 Quick Tip: If you’re saving for a short-term goal — whether it’s a vacation, a wedding, or the down payment on a house — consider opening a high-yield savings account. The higher APY that you’ll earn will help your money grow faster, but the funds stay liquid, so they are easy to access when you reach your goal.

How Much Does a Financial Coach Cost?

Coaching rates typically run between $100 to $300 an hour. But because of the wide range of fees charged by coaches, it’s a good idea to ask about costs upfront.

Unlike financial advisors, who typically charge their fees based on a percentage of the assets under management, financial coaches generally work on a fee-only basis. Some may charge a flat fee based on how long you plan to work together (such as three or six months), while others might charge per session.

How do I Find a Financial Coach?

While there is no required coursework or license, and there are no certifications to become a financial coach, there are training programs run by the Association for Financial Counseling and Planning Education (AFCPE).

You can begin looking for financial coaches in your area at AFCPE.org. It’s also a good idea to ask for personal referrals from friends and family, as well as other financial professionals you know or work with (such as an accountant or financial advisor).

Before selecting a coach, it can help to consider specifically what you are looking for in a financial mentor. This can involve thinking about your own financial strengths and weaknesses, and what your goals are. Are you, for example, struggling to save enough money for a down payment on a house? Or, do your credit card balances keep going up? Identifying your needs can help you suss out the best coach for your situation.

Once you’ve gathered a list of financial coaches, you may want to reach out to each candidate to get a sense of their personality, methods, and coaching style.

Some questions to consider asking:

•   How long have you been a coach?

•   What’s your business specialty?

•   How long do you typically work with clients?

•   What’s your plan to help me reach my goals?

•   What is your availability?

•   What are your fees?

💡 Quick Tip: If you’re faced with debt and wondering which kind to pay off first, it can be smart to prioritize high-interest debt first. For many people, this means their credit card debt; rates have recently been climbing into the double-digit range, so try to eliminate that ASAP.

The Takeaway

Maybe you’ve tried to make a budget but just can’t stick to it. Or perhaps you’ve run up so much debt between credit cards and loans that you don’t know the best way to pay it off. A financial coach can help you structure your budget, build a financial plan, and hold you accountable throughout the process.

Financial coaches also help clients understand and work through deep-seated emotions around money that may be preventing them from being “good with money,” building up savings, and reaching their financial goals.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

What Exactly Does a Financial Coach Do?

A financial coach helps you set and achieve financial goals by providing personalized guidance and support. They assist with budgeting, debt management, setting goals, saving, and investing. Coaches often work one-on-one, offering accountability and motivation to help you make informed financial decisions and improve your overall financial health.

What Is the Average Cost of a Financial Coach?

The average cost of a financial coach ranges from $100 to $300 per hour, depending on the coach’s experience and the services offered. Some coaches offer package deals or flat rates, which can be more cost-effective. Shop around and compare prices to find a coach that fits your budget.

What Is a Financial Coach Not Allowed to Do?

A financial coach is not allowed to manage your investments, provide legal advice, or act as a fiduciary. They cannot make financial transactions on your behalf or offer specific investment recommendations. Their role is to provide guidance and support, not to handle your money directly.

What is the Difference Between a Financial Coach and a Financial Advisor?

A financial coach focuses on behavior and mindset, helping you set and achieve personal financial goals through accountability and support. A financial advisor, on the other hand, provides professional advice on investments, retirement planning, and wealth management. Advisors often manage your investments and offer more technical financial planning services.

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
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SOBNK-Q225-049

Renting out part, or all, of your home on a rental platform can be a lucrative sideline. Just keep in mind that it can take an investment of time, effort, and money to create and maintain a welcoming space for guests. And the plan could potentially backfire if you side-step some key legal and insurance steps.

To help ensure your venture is a success, here are some things you may want to consider before you start renting on Airbnb or a similar site.

1. Understanding Local Rental Laws

Before listing your home on a home-sharing site, it’s a good idea to research and make sure you fully understand local laws regarding renting out your home.

Laws that govern home shares vary around the country. In some cities, for instance, it’s illegal to rent a home as an Airbnb unless it’s your primary residence. In others, hosts can only rent out a portion of their home, and must be present during the guests’ stay. Laws about short-term rentals are also constantly changing.

If you own a condo or belong to a HOA, there may be other legal hoops to jump through, since you will likely need to get permission before opening your doors.

2. Checking With Your Landlord (if You’re Renting)

Looking to rent out a room in your home you rent? It can be wise to first carefully read through your own rental agreement.

Leases and agreements can contain language barring renters from subletting the home outright or without the express consent of the landlord. If you’re unsure even after reading the fine print, you may want to have a conversation about it with your landlord.


💡 Quick Tip: Help your money earn more money! Opening a high-yield bank account online often gets you higher-than-average rates.

3. Talking to Your Neighbors

While neighbors can’t tell you what you can and can’t do on your own property, they can make things difficult for you.

Prior to renting out your home, you may want to do the neighborly thing and pop in or give them a call to let them know what you are planning and do your best to ease any of their concerns. Who knows — they might even end up keeping an eye on the property for you while you’re away.

4. Being Prepared to Pay Taxes

Sure, renting your home on Airbnb may bring in a nice source of passive income. Like all income, however, this may be subject to state and federal taxes.

According to the IRS, third-party settlement organizations (like Airbnb and other vacation rental host sites) are required to issue a Form 1099-K when the amount of total transaction payments exceeds $2,500 in tax year 2025 and $600 in tax year 2026 and beyond.

5. Considering All the Expenses Involved in Renting

While it may be more fun to think about the extra income that could result from your home rental, it can also be important to think about all the expenses involved.

For example, you may have to purchase items to get the space ready, along with any amenities you will offer guests (like toiletries or coffee), and cleaning supplies (or, pay for a cleaning service), and more.

You may want to make a list of all your potential expenses and consider how it will affect your potential profits.


💡 Quick Tip: If you’re creating a budget, try the 50/30/20 budget rule. Allocate 50% of your after-tax income to the “needs” of life, like living expenses and debt. Spend 30% on wants, and then save the remaining 20% towards saving for your long-term goals.

6. Finding a House Manager if You’d Rather Not do all the Work

Does managing your listing, bookings, and maintaining your rental property sound like a lot? You might consider hiring a manager to do it for you.

There are a number of property management companies around the country. that specialize in managing short-term home rentals.

These agencies will handle everything from writing (or boosting the exposure of) your listing to communicating with guests to cleaning and taking care of repairs. Some charge a commission (i.e., a percentage of bookings), while others charge a flat monthly service fee.

7. Making Space for Guests

Prior to accepting your first guests, it’s a good idea to make sure you have room for them — and that typically means more than just a clean, freshly made bed.

You may also want to offer some empty drawers so that guests can unpack their clothing, and possibly also a free shelf in the bathroom for their toiletries.

8. Putting Away Valuables

While it’s nice to think that everyone is trustworthy, that may not always be the case. It can be a good idea to safely stow away any valuables when you are opening your home to people you don’t know.

You can do this by getting a heavy-duty safe. Or, you might want to lock off one room of the home as an “owner’s closet” that guests cannot access.

9. Checking With Your Insurance Company

Airbnb offers its hosts its own liability insurance. Though this covers a wide array of potential issues, including bodily injury to guests and any damage to the property, it may not cover everything. Plus, different home rental platforms may offer different levels of insurance coverage.

It can be a good idea to also check in with your own homeowners or renters insurance to see what type of coverage these policies offer.

10. Writing a Detailed Description

Ready to list? When it’s time to write a description of your home, it’s a good idea to make your listing as detailed as possible, and even include the flaws of your home. A home need not be perfect to list on Airbnb. However, the company suggests that honesty is the best policy.

It can be a good idea to tell guests exactly what they’ll find when they arrive, as well as highlight your home’s special features, such as the location or unique amenities of your space. For more ways to make your listing stand out, you may want to check out Airbnb’s “writing tips.”

11. Taking High Quality Photos

Before taking photos of your space, you may want to spend some time arranging everything as if you were getting ready to welcome your first guest. This can help showcase your space to its best advantage, and also help set your guests’ expectations before they book.

It’s also a good idea to shoot in landscape format (photos in search results are typically displayed in landscape, so vertical photos won’t showcase your space as well), shoot in the middle of the day when there is plenty of light, and to highlight any unique features or amenities.

12. Creating an Information Binder

It can be helpful to make a packet of information for your guests which includes key information, such as the Wi-Fi password, your contact number, and house rules (such as check-out time and anything that guests need to take care of before they leave).

You may also want to include instructions on how to work on anything quirky, such as the television or coffee maker, as well as local entertainment and restaurant options.

13. Offering A Few Extra Amenities

There are millions of listings on Airbnb. If you’re hoping that your rental will make financial freedom a reality, you’ll want it to stand out from the crowd.

Throwing in some extras can help encourage guests to choose your home over others. Are you near a popular beach? You may want to consider keeping some beach chairs and sand toys stored in the garage for guests to use.

Simple add-ons, like the use of your bicycles or a parking tag, may not cost you much (or anything) to offer, yet significantly increase the popularity of your listing — along with your earnings.

💡 Quick Tip: Bank fees eat away at your hard-earned money. To protect your cash, open a checking account with no account fees online — and earn up to 0.50% APY, too.

14. Making a Decision about Pets or No Pets

Before you list your property it’s a good idea to decide if you want your home to be a space for pets or not.

This is a personal decision, but you may want to consider whether or not your space is well-suited for pets (a light suede couch, for example, might not last very long). If you do decide to make your home pet-friendly, you could add in an additional fee for cleaning.

15. Learning How to Price a Property Right

You may think your home looks and feels like a million bucks, but that doesn’t mean travelers will pay a premium.

To understand how to price an Airbnb listing correctly, it’s a good idea to comb through comparable listings in your area to get a sense of what other people are charging.

You can also use a free online calculator like airDNA. You just need to input all your data, including home size, if it’s pet-friendly, location, etc., to get a recommended price for your listing.

Recommended: 33 Ways to Make Income From Home

16. Deciding How You Want to “Screen” Guests

It is against Airbnb’s nondiscrimination policy to decline a booking based on “race, color, ethnicity, national origin, religion, sexual orientation, gender identity, or marital status” or impose different standards for specific guests.

What hosts can screen for are people who may not be a good fit for their property by being as descriptive as possible in their listing. If your home is not a good fit for children, you may want to make that clear in your listing.

Do you want to limit the noise after specific hours to respect neighbors? You may want to be specific about that in your listing so you bring in the type of customer you are hoping to attract.

17. Learning About Enhanced Cleaning Standards

Airbnb, along with many other rental platforms, require hosts to use an enhanced five-step cleaning process between guests.

The protocol includes special measures, such as using disinfectants approved by your local regulatory agencies for use against Covid-19 on all high-touch surfaces (and letting them stand for the amount of time specified on the label) and washing all dishes and laundry at the highest heat setting possible.

18. Thinking About Turnover Time

Before you rent all or part of your home on a rental platform you will want to think about not only when you want to rent your home out, but also how long it will take you to get it properly cleaned (using the five-step protocol) and ready for the next guests.

Will you need 24 hours between guests or can you get the home ready in just a couple of hours? This will determine exactly what dates you are able to accept guests, as well as what check-in time you want to put in your listing.

19. Testing Your Rental With Friends

When you’re getting close to listing your space, you may want to try testing out the system with a few friends.

Inviting people you know and trust to rent your space (free of charge or for a low fee) won’t do much to get that extra income stream flowing, but it can help you work out the kinks, as well as garner you some (hopefully positive!) reviews.

Friends can also tell you honestly what you might do differently or change to improve the rental experience. This way, you’ll feel confident once people you don’t know arrive.

20. Being Ready for Bookings Right Away

With millions of users all over the world, it may be a good idea to go into listing your property believing you’ll receive guests right away.

While this may not happen, it’s better to be prepared for visitors, then wait to see how your listing performs before readying your space for guests.

21. Looking At Your Reviews

After guests depart they may leave you a review of their stay. It’s a good idea to not only look at the reviews but to take them to heart. Reviews can make or break Airbnb rentals.

While it can be tough to digest criticism of your home, if guests complain about something that can be easily fixed, it can be in your best interest to fix it.

Reading positive reviews can be a good way to see your rental from an outsider’s perspective and make changes to improve your listing.

22. Accepting the Fact You Can’t Please Everyone

Sometimes, people are just difficult, or nitpicky, or just aren’t the right match for your listing and will leave a nasty review that feels unwarranted.

If you see a review that falls into that camp, it can be wise to just forget it and move on. This can often be a better approach than starting a fight in the comment section, which may only end up making you look bad to potential future guests.

23. Working Toward Superhost Status

Becoming an Airbnb superhost can increase your earnings by giving your more visibility and letting guests know that they can expect the best when staying with you.

Superhosts are featured in search results and get a Superhost badge on their profiles and listings to help them stand out. After each year as a Superhost, they’ll get a $100 travel coupon.

To become a Superhost, hosts must complete at least 10 stays in the past year (or 100 nights over at least three completed stays), have a 4.8 or higher average overall rating, respond to 90% of new messages within 24 hours, and cancel bookings less than 1% of the time.

Recommended: Money Management Guide

24. Deciding If Airbnb Is the Only Platform for You

After deciding to list on Airbnb, it’s then time to decide if that’s enough. There are, after all, a number of other home rental platforms to choose from, including Vrbo, Booking.com, and Flipkey. It’s up to you how many different listings you’re willing to maintain.

25. Keeping Your Calendar Up to Date

Once you list your home on Airbnb (or any other rental platform), it can be wise to keep your rental calendar as up-to-date as possible. This way, guests don’t accidentally book a stay when you have your in-laws visiting or when you otherwise want to use your own space.

If a date looks to be free to a potential guest but you forgot to mark it as unavailable, it can become a frustrating experience for both parties.

The Takeaway

If you have an extra room, or your home is vacant for several months out of the year, you may be tempted to list it on a home rental site.

But before you start posting photos on Airbnb, there are several things you may want to think through — from legal and insurance issues to the time and expense involved in getting (and keeping) your space ready for guests.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

What should you know before renting your home on Airbnb?

Before renting your home on Airbnb, it’s important to understand local laws and regulations, as some areas have restrictions on short-term rentals. It’s also a good idea to check your homeowner’s insurance to ensure it covers Airbnb rentals, and carefully read Airbnb’s host liability coverage. Finally, you’ll want to familiarize yourself with Airbnb’s host policies and prepare your home for guests by ensuring it’s clean, safe, and well-stocked with essentials.

Do I Need Permission to List My House on Airbnb?

Yes, you may need permission to list your house on Airbnb. Check your local laws and regulations, as some cities and neighborhoods have restrictions on short-term rentals. If you rent rather than own your home, you’ll want to review your lease agreement, as it may prohibit subletting or short-term rentals. Additionally, consult your homeowner’s association (HOA) if applicable, as they might have specific rules. Always ensure you have the necessary permits and approvals to avoid legal issues and fines.

Is Renting out an Airbnb Worth It?

Renting out an Airbnb can be worth it if you manage it effectively. It can provide a steady income stream, especially in high-demand areas. However, it requires significant effort, including maintaining the property, managing bookings, and dealing with guest issues. It also comes with costs, such as cleaning, utilities, and potential wear and tear. You’ll want to weigh the benefits against the time and financial investment. If you enjoy hosting and are willing to put in the work, however, it can be a rewarding venture.

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Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

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