19 Jobs That Pay Daily

19 Jobs That Pay Daily

Workplaces typically pay employees once every other week (or just twice a month). But sometimes, you want to get your hands on cash more quickly. Fortunately, it’s possible to find jobs that pay daily, from babysitting to blogging to mowing lawns.

Some of these are true jobs that pay every day, while others are freelance gigs (commonly referred to as side hustles) that may pay invoices as you submit them. If you manage enough side hustles or have enough clients for a single side gig, you can stagger invoices so that payments are coming in every day — or at least multiple times a week.

If you are interested in bringing in income ASAP or often, this guide can help. Read on to learn:

•   The benefits of being paid daily

•   Jobs where you get paid daily

•   Tips for finding work that will pay you daily

Benefits of Being Paid Daily

What are the benefits of jobs that pay you daily?

•   Flexibility: Many of the daily paying jobs on this list allow you to make your own schedule. You can work longer hours if you want, but you also don’t have to worry about getting approved to take time off to go to the doctor or embark on a low-cost road trip with friends.

•   Faster payment: Some of the jobs that pay everyday listed are gigs that pay daily, meaning when you kick off your shoes at the end of the day, you’ll have more money in your wallet or checking account than when you started. Some of the other jobs involve invoicing when the work is done. If you have enough invoices being paid out from different clients for different work, you should have a steady stream of income flowing into your bank account regularly.

•   Work remotely: A lot of the daily paying jobs on this list allow you to work right from the comfort of your couch or a nearby cafe. Getting paid while wearing sweatpants and having your dog by your side can be a pretty sweet gig. It can also cut out transportation costs and make household chores like cooking and cleaning easier to manage.

Recommended: Highest Paying Jobs by State

19 Daily Paying Jobs

Are you looking for a daily flow of cash into your bank account? Here are 19 jobs that pay daily:

1. Waiting on Tables

Servers are tipped employees who earn a reduced minimum wage. When you work this way, you may still earn a regular paycheck with your hourly wage and any tips paid by debit or credit card. However, you are often able to pocket cash tips at the end of each shift. Other tipped workers, like hairdressers, manicurists, and bellhops, may also bring home money every day.

2. Collecting and Recycling Metal

If you have a truck or van, you can spend the day collecting scrap metal from construction sites, local businesses, and dump sites. You might be able to use resources like Craigslist or even social media to find scrap metal ready to be picked up.

Once you’ve gathered enough scrap metal, you can take it to a local recycler, who will typically pay you by the pound for quality materials.

Another angle on this is collecting recyclable bottles and cans and exchanging them for cash. This may be as simple as taking them to your local supermarket.

3. Babysitting

As a babysitter, you can set your own rates and hours and typically get paid at the end of a shift. While word of mouth is still a good strategy for finding clients, many people now use find babysitters digitally, like through Care.com, UrbanSitter, and Bambino; it’s a good idea to get vetted and have a profile on such platforms.

Bonus points if you are CPR- and first aid certified!

Recommended: 15 Low-Cost Side Hustles

4. Pet Sitting

Pet parents need a break too. Whether through word of mouth or through apps like Rover and Wag!, you can find people who need help with their pets while on vacation or even just during their days in the office.

In addition to pet sitting, you may be able to find clients who just want someone to walk their dogs during the day. With good word of mouth and some marketing, you may achieve an array of jobs that pay everyday.

5. Selling Your Photos

If you like to take photos, whether while traveling or just of everyday life, you might be able to make money from them. Uploading photos to a stock photography site means you’ll make money every time a person pays to use your photo.

If you’re a skilled photographer with professional equipment, you can make money on the side by taking family portraits or even photographing weddings.

6. Reselling

Another way to potentially be paid every day is by getting into reselling on sites like Amazon and eBay. But what is a reseller? As a reseller, you will buy products (ideally greatly discounted and in bulk), then list them for sale at a higher price online.

Becoming a successful reseller can require patience, hard work, and a lot of time at the post office. But once you have a process nailed down, it can be an easy way to get paid regularly.

Recommended: How to Turn Your Side Hustle Into a Full-Time Business

7. Crafting

Opening a shop on Etsy is a great way for hobbyists to make supplemental income from their crafts. Here, artisans can showcase and sell their work, from custom jewelry to knitted blankets to hand–carved signs. If your items are popular enough — and you can keep up with demand — it’s possible to make sales every day.

8. Renting Out Your Space

Have an extra bedroom in a location that tourists often visit? You might be able to list your space on Airbnb and VRBO. If you can attract guests every night, you could potentially get a payout every day.

9. Mowing Lawns

Offering to mow multiple neighbors’ lawns each week — and then staggering when you mow them — is a simple way to get paid every day of the week. While this can be an easy evening side gig after a full-time job, it also has the makings of a full-time hustle itself. If you have the right equipment and transportation, plus enough clients, you could launch your own lawn mowing company.

10. Ride Sharing

If you’re a safe driver with a decent car, you might have a future as a rideshare driver. While Lyft typically pays out each week (on Tuesdays), Uber allows drivers to opt in to Instant Pay — with up to five payments a day!

11. Delivery Driving

If you’d rather drive food than people, you’re in luck. Delivery drivers for services like Uber Eats, GrubHub, and DoorDash can all opt in to instant payouts. Getting paid instantly (as opposed to the services’ traditional payment timelines) may come with a fee, however.

Recommended: Careers That Pay Off Student Loans

12. Doing Online Surveys

You can make money while sitting on the couch listening to music, simply by taking surveys. Popular paying survey sites include Swagbucks, InboxDollars, and LifePoints. Each survey may take several days to pay out, and you’re likely to just earn a few dollars a day. Still, every bit counts, and you can eventually get deposits each day by making surveys a daily habit.

Quick Money 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.

13. Participating in a Focus Group

Online surveys are an easy way to make money from home, but their payouts are low. You might be able to make more by participating in focus groups. Studies usually pay $50 to $200, but some might pay more than $1,000.

Recommended: Great Paying Careers Without a Degree

14. Being a Virtual Assistant

As a virtual assistant, you support businesses, typically working remotely rather than on-premises. You can work for multiple companies that need help with basic tasks, like scheduling, data entry, travel arrangement, and bookkeeping. Some companies may have more specific tasks, like managing their social media. The more skills you can offer, the more likely you are to land clients.

Sites like Indeed, LinkedIn, and Upwork are helpful for landing virtual assistant jobs. It’s a good idea to have an up-to-date LinkedIn profile and resume showcasing relevant experience.

15. Tutoring

Teaching online or in person is an easy way to earn money every day if you have deep knowledge on a topic and a knack for making things clear to others. Students may be looking for tutors for standardized tests or learning a musical instrument. Sometimes parents might just want a tutor to help a child improve in a certain school subject.

If you have a background in multiple subjects and a website or profile showcasing relevant certifications, you could potentially get enough students to earn money each day.

Recommended: What Happens to Your 401(k) When You Leave Your Job?

16. Proofreading and Copy Editing

Having eagle eyes (and a degree in English) can qualify you to be a proofreader. Brushing up with well-known reference resources, like the Chicago Manual of Style or the Associated Press Stylebook, can help hone your skills.

You can find individual job postings online for one-off projects (like proofreading a novel) or recurring work with clients. Indeed, Fiverr, FlexJobs, and Upwork are good places to start. If you can get a few projects going, you may be able to get jobs that pay every day.

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17. Creating Content

If you are a strong writer, you might be able to find work as a freelance writer for news sites, blogs, or marketing clients. Having a portfolio that showcases existing work is usually the best way to get your foot in the door. Freelance writers are usually paid per word or per piece.

Another route to getting paid every day with your content: You can create your own personal blog and run ads on the site. You’ll earn money for pageviews, so getting traffic to your website is crucial. But don’t forget: There are also costs to run a blog.

Creating content means more than writing; it also means videos and podcasts. Many people make money off ads on their YouTube videos. And if you have enough followers on sites like Instagram or TikTok, brands may pay you to advertise their products.

Recommended: 39 Ways to Make Passive Income

18. Affiliate Marketing

Ads on your blog are a great way to make money off your writing, but you can also add in affiliate links to certain products that you review and recommend. If someone clicks on the link for a product you’re talking about and then buys that product, you can earn a commission.

Podcasters, vloggers, and social media influencers can also participate in affiliate marketing, often by giving fans a promo code. If you get traction with this, you could be getting paid daily.

Recommended: Jobs That Pay for Your Degree

19. Transcribing

Transcription jobs are an easy way to make money from home. If you have enough clients, you might be able to have money flowing in every day. Companies such as GoTranscript and Rev are helpful when you’re just starting out.

Tips for Finding Jobs That Pay Daily

Having a daily stream of income isn’t always easy. Here are some ways to achieve your goal of getting paid everyday:

•   Taking on multiple gigs: Wearing many hats means more opportunity for earning income. You might be a rideshare driver on weekends, take online surveys while binge watching Netflix in the evenings, transcribe during the workday, and write ad-supported blogs in your free time.

•   Staying organized: If you have multiple purchase orders, invoices, and clients to juggle, it’s a good idea to find an organizational method that works for you. Planners, spreadsheets, dry-erase boards, and sticky notes can all be effective ways to keep organized.

•   Persevering: You likely won’t immediately achieve a daily paycheck when starting your freelance lifestyle. Often, success means taking on whatever work you can, being proactive to find new gigs, and being willing to accept that you might not always get a paycheck at the end of each day — at least not at first!

Recommended: 25 Tax Deductions for Freelancers

The Takeaway

If you’re looking to get paid quickly, you have many options. Jobs that pay daily are often side hustles or freelance gigs by nature, but it’s possible to turn side hustles into full-time gigs that pay you every day. If you are willing to wear many hats and learn new skills, you may find great success working several jobs that pay you daily.

Have you launched one or more successful side hustles? Don’t let that hard work go to waste. Open a SoFi bank account. Our Checking and Savings account lets you budget, spend, and save in one convenient place, plus we offer a hyper competitive interest rate and no fees, which can help your money grow faster.

Better banking is here with up to 3.75% APY on SoFi Checking and Savings.

FAQ

Is it better to be paid daily or biweekly?

Being paid daily means more immediate access to your funds, but it can sometimes be less predictable and involve smaller amounts of cash. If you prefer more predictable income for easier budgeting, you might prefer a biweekly paycheck.

Are daily paying jobs full-time?

Most daily paying jobs are a form of freelance or side hustle. However, many people are able to turn their freelance side gigs into full-time careers — for example as writers, photographers, marketers, and contractors.

Can I work multiple jobs that pay daily?

Many people with jobs that pay daily do work multiple gigs. Because some jobs may not actually pay every day, some workers will juggle multiple side hustles (like ridesharing, delivery services, and tutoring) to ensure a steady flow of paychecks.


Photo credit: iStock/SDI Productions

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2022 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
SoFi members with direct deposit can earn up to 3.75% annual percentage yield (APY) interest on Savings account balances (including Vaults) and up to 2.50% APY on Checking account balances. There is no minimum direct deposit amount required to qualify for these rates. Members without direct deposit will earn 1.20% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 12/16/2022. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
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11 Ways to Make Money While Driving

11 Ways to Make Money While You Drive

If you’re like many people and are happy when driving, you may be able to use that everyday skill to make money. If you have access to a reliable vehicle and a valid license, there are numerous ways to earn money while driving, whether through ridesharing, delivering food, or being a tour guide.

Not only is this an easy way to bring in some cash, it can be a very flexible gig. You can set your own hours or get behind the wheel when your schedule allows.

Want to learn more about all the ways you can get paid for driving? Then read on, and get ready to start your engine. Here are 11 tips on how to make money while driving.

What to Consider Before Using Your Car to Make Money

Before you set out on your new road to passive income, it’s wise to make sure that driving to make money is right for you. There are risks and complications when using your personal vehicle that may outweigh the potential side hustle benefits you would reap.

Consider the following before embarking on using your car to make money:

•   Wear & tear on your car. Using your car to earn money while you drive can rack up a lot of miles. An uptick in use will put stress on your vehicle, leading to its overall depreciation and potentially more trips to the mechanic.

•   Age of your vehicle. The age of your car may impact your ability to earn money. For example, some rideshare companies require newer cars.

•   Car insurance. You will need proper insurance to cover yourself and possibly a passenger. There are usually specific insurance requirements to be eligible for ridesharing and other driving gigs, so scrutinize your policy to see how car insurance works for you in this situation.

•   Taxes. If you earn more than $400 while driving your car to make money, the IRS considers you an independent contractor. Along with a Form 1040, you’ll have to fill out a Schedule C form, or a Schedule C-EZ if you earn less than $5,000 a year. You’ll also be subject to the self-employment tax.

•   Cost of doing business. You’ll be responsible for gas, vehicle maintenance, and repairs. But as a self-employed worker, you’ll be able to write off those expenses and others, such as mileage, on your tax return.

Bottom line: Make sure you know what you and your car are getting into. You don’t want a scenario where you end up wasting money and your valuable time instead of earning more income.

Quick Money Tip:Typically, checking accounts don’t earn interest. However, some accounts will pay you a bit and help your money grow. An online bank account is more likely than brick-and-mortar to offer you the best rates.

11 Ways to Earn Money by Driving

How can I make money driving my own car?

The answer depends on where you live, the kind of car you own, other skills you may have, and your personal preferences. But whether you own your car or lease it, the opportunities are out there if you’re willing to grab them.

Here are 11 suggestions on how to make money by driving:

1. Ridesharing

If you’ve ever hopped in an Uber, then you likely understand what ridesharing is all about. A driver uses their car to pick up passengers on demand. This has become a popular way to earn money while driving in recent years. You can drive as suits your schedule, and rideshare companies such as Uber and Lyft strive to make the driver sign-up process as streamlined as possible.

If you have a good driving record, a flexible schedule, and newer 4-door vehicle, working for a rideshare app can potentially be a great source of extra income, especially if you’re willing to give up your Friday and Saturday nights to earn prime-hour cash. Your specific earnings will depend on how often you drive, when, and for how long, as well as where you are located. In New York City, a driver might make about $45,000 annually for full-time hours; $20 or more being the hourly rate.

Recommended: Leasing vs. Buying a Car: What’s Right for You?

2. Food Delivery Service

Another way you can be driving to make money: by delivering anything from a smoothie to Pad Thai and back again. When you sign up with food delivery apps such as Uber Eats, Seamless, and Grubhub, you’ll get notifications to pick up food from participating restaurants and drive them to hungry patrons. For every delivery, you’ll get paid.

DoorDash says their national average pay is $25 per hour, and Dashers (as they call them) also keep any tips.

3. Delivering Groceries

If you want to earn money driving without the smell of takeout in your car, consider delivering groceries instead of prepared meals. Apps such as Instacart rely on independent drivers to shop and deliver groceries to people’s homes.

Grocery deliverers can make between $10 and $25 an hour, depending on how busy the local area where you live is. Be sure and check for any requirements. For example, to work for Instacart, you need to be age 18 or older and able to lift at least 50 pounds.

4. Delivering Goods to Others

Food isn’t the only thing you can deliver to earn money while driving. There’s a whole world of goods out there that people want delivered. Apps such as Shipt work with drug stores and shops like Target and Bed,Bath & Beyond to get people what they need.

Looking for another idea? Amazon Flex allows independent drivers to deliver packages on their own schedules for an hourly wage. They do require you to have a mid-size, 4-door sedan or larger.

Recommended: 15 Low-Cost Side Hustles

5. Moving Large Items for Others

If you own a van, SUV or truck and can do some heavy lifting, you could use your vehicle and your strength to make big bucks by helping move items.

Maybe a recent grad can finally afford to move out from their parents’ place, or someone has just switched houses to be in a certain nearby school district. People like these often need help moving oversized items such as furniture or multiple heavy boxes a short distance.

You can check out websites like Taskrabbit or Craigslist to see if someone needs moving assistance, or register with an online service such as Dolly or GoShare that will connect you with clients.

6. Shuttling Children

With the proper qualifications, you can drive to make money by transporting children. Many working parents need help getting their kids to and from school or to their after-school activities. You can search Care.com or other childcare employment sites for part-time gigs, driving children where they need to be.

Companies such as HopSkipDrive work with school districts and independent drivers to solve child transportation issues. Most of these types of jobs require around five years of experience working with kids, in-person interviews, and background checks.

Recommended: 8 Great Flexible Part-time Jobs in 2022 for Gen Z and Millennials

7. Transporting Elderly People

Some seniors need help getting around town but prefer not to use rideshare services. Check with elder-care services in your community. They may need drivers to help get their clients to a store, an activity, or a doctor’s appointment.

You will likely need similar vetting to that mentioned for chauffeuring children.

8. Driving Tours

If you have the gift of gab and knowledge of your area, being a tour guide could be a fun way to make money while driving. You could register with online companies such as ToursByLocals and create a private driver profile to promote your insider savvy. This could involve showing tourists local highlights so they can take some photos for social media, or sharing hidden treasures that they might not otherwise learn about. It’s a win-win when you use your hometown smarts to boost your financial security.

9. Putting Advertising on Your Car

Here’s a passive income idea that works, though it’s not for everyone: Consider turning your car into a mobile billboard. Companies such as Wrapify and Carvertise will match you with a local advertising campaign and supply you with temporary “wraps” for your car that promote a product. Depending on where you drive and the size of your car, you could make between $50 and $300 a month.

Typically, these businesses want to wrap cars that are on the road and visible for much of the time. If you are doing deliveries by car, this might be a way to bring in more cash.

10. Renting Out Your Car

You can make money off your car without even driving it. Companies such as Turo and Getaround allow you to rent out your vehicle à la Airbnb. They will vet borrowers, cover insurance, and provide you with a device that allows renters to unlock your car without a key.

If you don’t want to do ridesharing, let others do it for you. Companies like HyreCar arrange to lend your car to other vetted drivers who want to earn money for Lyft or Uber. But to really make some dough, you would have to be willing to part with your vehicle often.

11. Being a Safe Driver

Here’s another way that driving can bring in some cash: If you are a safe driver, you may be eligible for a bit of money. For example, Allstate will reward you with a Safe Driving Bonus every six months if you don’t get in a fender-bender.

The State Farm insurance app will track your car to determine if you are driving safely — it monitors things like staying within the speed limit and coming to a complete stop versus a rolling one. You could get up to a 30% discount on your auto insurance.

Recommended: Guide to Practicing Financial Self-Care

The Takeaway

If you have a vehicle, you can make extra money. Signing up with the right apps and online services can get your car (and your new income stream) up and running. Whether it’s doing deliveries, transporting a sofa, or helping a person get to their destination, you can turn your vehicle (plus your driving skills) into a profit-mobile.

Better banking is here with up to 3.75% APY on SoFi Checking and Savings.

FAQ

What are the pros of making money while driving?

By using your car to make money, you may be able to set your own hours and be your own boss. It’s also a pursuit that doesn’t require much specialized training. In many cases, you are using a skill you already have.

What are the cons of making money while driving?

Using your car to make money can place a lot of stress and miles on your vehicle. Gas and maintenance prices can really add up. Plus some pursuits, such as helping people move furniture, can be physically challenging.

Is making money with your car better as a side hustle?

Earnings from most car-driving gigs can be sporadic and unpredictable, unless you live in a major city with consistent high demand. For this reason, it may be best to have another form of steady income and drive for cash on the side.

How much can you potentially earn with your car?

How much you can make driving your car depends on the type of job and where you live. A New York City Uber driver can make around $25.91 per ride, while an Uber driver in Utah makes an average of $20 per ride.


Photo credit: iStock/Hispanolistic

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2022 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
SoFi members with direct deposit can earn up to 3.75% annual percentage yield (APY) interest on Savings account balances (including Vaults) and up to 2.50% APY on Checking account balances. There is no minimum direct deposit amount required to qualify for these rates. Members without direct deposit will earn 1.20% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 12/16/2022. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
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How Much Electrician School Costs and How to Pay for It

Paying for Electrician School and How Much It Costs

Becoming an electrician can lead to a fulfilling, rewarding, and high-paying career. However, electrician school costs up to $20,000, depending on the program.

Paying tuition costs up front may not be possible. To help manage this hefty electrician trade school price tag, there are a few different program and financing options to consider.

How Much Does Electrician School Typically Cost?

A profession as an electrician is among the list of high-paying, no-degree jobs that can be a lucrative career. If you decide to enroll in electrician trade school to help you along your path to becoming an electrician, it can cost anywhere from $1,000 to $20,000 to complete the program. This might depend on the program you enroll in and the school you attend.

How Long Does Electrician School Take?

Community college electrician school programs prepare students for apprenticeship and a future career as an electrician. Typically, it takes one to two years to complete electrician trade school.

What Are Classes Like at Electrician School?

Although each program is different, generally, electrical school guides you through relevant mathematics, standardized electrical code, electrical theory, and fundamental techniques regarding wiring, safety, conduit bending, and other skills.

In addition to in-class knowledge, electrician school often includes hands-on practical application.

Can You Make Money As an Electrician While In School?

It might be challenging to secure paid electrician work, if you’re in the middle of electrician school. However, if you’ve been accepted into an electrical apprenticeship program, and are attending electrical school on the side, the apprenticeship often involves paid, hands-on learning opportunities and possibly health benefits.

Pros and Cons of Electrician School

If you’re unsure whether enrolling in electrician school is worth it, weigh the advantages and disadvantages of going this route.

Pros

Cons

Might be a fast way to get in the door toward an electrical career State might still require an apprenticeship program
Sets you apart when applying for apprenticeship Potentially high-cost and might incur student debt
Might count toward required apprenticeship hours Not an “earn as you learn” option

Financing Electrician School

Although you can choose to pay entirely out of pocket for electrician trade school costs, it’s not always feasible. Fortunately, there are a handful of ways to get your trade education financed — some of which must be repaid while others don’t need to be paid back.

Financial Aid

Future electricians attending an eligible trade school may be able to qualify for federal student aid including grants, scholarships, work-study, or federal student loans. Not all trade or vocational schools qualify for federal aid.

To find out if the program you are considering is eligible, take a look at the Federal School Code Search administered by the U.S. Department of Education. Another option is to check in with the financial aid office at the school.

To apply for federal financial aid, students will need to fill out the Free Application for Federal Student Aid (FAFSA®).

Grants

Federal grants, like the Pell Grant, are available to students who are pursuing a bachelor’s degree and demonstrate financial need. Pell Grants typically don’t need to be paid back, and offer awards up to $6,895 for the 2022-23 academic year.

Recommended: FAFSA vs. Pell Grants

Scholarships

Scholarships are another type of gift aid that doesn’t need to be repaid. They can be found through your state, local government, school, and nonprofit institutions. For example, the American Public Power Association offers lineworker and technical education scholarship awards of $2,000 to chosen recipients.

Employer Sponsoring

If you’re already employed, and want to enroll in an electrician school to enhance your job-related skills, ask your employer if it’s willing to sponsor your electrician school cost. Some companies offer this benefit as long as you successfully complete the program and agree to apply your training within the company for a certain number of years.

Federal Student Loans

Through the FAFSA, you can see if you’re eligible for subsidized or unsubsidized student loans. This type of aid must be paid back, plus interest at a fixed rate.

Private Student Loans

If the above financing sources aren’t an option and you need funds, private student loans may help pay for electrician trade school costs. Private student loans are offered by banks, credit unions, trade schools, and other financial institutions. Be aware that they typically don’t offer the same level of protections as federal student loans, such as extended forbearance or deferment options if you face financial hardship.

Recommended: Guide to Private Student Loans

How to Select an Electrician Training Program

Deciding how you want to pursue an electrician training program highly depends on the amount of time you’re willing to commit, and your preferred learning style. Below is an overview of the program options available.

Apprenticeship

Learning the electrical trade is commonly done through apprenticeship. This option is typically a four-year commitment with a mix of classroom and field training. This option lets you learn the hands-on skills and knowledge needed to become an electrician while earning a wage.

Certificate

Certification can take about 1 to 2 years to complete. You can enroll in an electrician certification program through a local community college or trade school. In some states, like California, an electrical certification might be required to perform work for contractors with a certain license class.

Associate Degree

An associates degree can offer more comprehensive education, though it’s not typically a requirement to be an electrician. Associate degrees might be offered through a trade school or community college, and can help boost applications for apprenticeship programs.

Bachelor’s Degree

If you’d like to pursue a bachelor’s degree as an electrician in a highly academic setting, a four-year program might make sense for you. Students typically enroll in programs, like electrical technology and learn about regulation, electrical theory, and more.

This option provides the greatest flexibility in terms of transferable courses for related industries, like electrical and/or systems engineering.

Military Training

Another way to obtain electrical school training is through the U.S. Armed Forces. By enlisting as a service member, you’ll first receive basic military training, and afterward, can receive electrical job training if you meet program requirements.

For example, the U.S. Army offers interior electrician job training for soldiers who complete 10 weeks of basic training, and seven weeks of Advanced Individual Training, and earn an ASVAB score of 93 in Electronics.

Electrician Job and Income Prospects

According to the U.S. Bureau of Labor Statistics, the job outlook for electricians from 2021-2031 is expected to grow at an average pace at 7% growth.

PayScale.com estimates that an electrician journeyman earns an average base salary of $61,886 per year, while a master electrician earns a higher salary at $73,334 per year. Salaries, however, depend on a variety of factors, such as skill certifications, years of experience, and location.

Alternatives to Becoming an Electrician

If after learning how much electrician trade school costs you feel it’s not the right profession for you, pursuing another trade or performing a hands-on field job might be of interest. Some alternative jobs include being a:

•   Construction laborer

•   Automotive service technician

•   Equipment operator

•   HVAC installer

•   Home inspector

•   Project manager

The Takeaway

Electrician school costs can range widely, from $1,000 to $20,000, depending on factors like the program, location, and more. Paying for electrician school costs can be an incredible investment for your career advancement and to enhance your technical knowledge, but it’s also a financial commitment.

If you’ve exhausted your financing options, and find that you need additional aid, a private student loan from SoFi might help (though SoFi’s student loans aren’t available for those attending trade school or community college). Undergraduate student loans may be available for those pursuing a four-year electrician degree.

Qualifying borrowers can secure competitive private student loan rates and SoFi loans have zero fees, and up to the total cost of your school’s certified cost of attendance. Plus, it only takes three minutes to check your rate online.

Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

FAQ

How long does electrician school take?

An electrician school program can take about four years to complete for an apprentice to acquire the training necessary to become a state-licensed Journeyman electrician who’s able to work unsupervised. However, this time frame varies, depending on the training path you decide to take and the licensing requirements of your state.

How much do the highest paid electricians make?

Master electricians are the highest level in the field and command an average base salary of $82,000 per year, according to PayScale data. Where you’re located and your years of experience impacts your earning potential.

What are the highest paid trade jobs in the U.S.?

A profession as an electrician makes up the top five highest-paid trade jobs in the U.S., along with licensed practical nurses, HVAC technicians, home inspectors, and plumbers.


Photo credit: iStock/Davizro

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs. SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
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How Much a Commercial Driver’s License (CDL) Costs and How to Pay for It

How Much a Commercial Driver’s License (CDL) Costs and How to Pay for It

If the lure of the open road intrigues you and the idea of spending years in classrooms doesn’t, then becoming a commercial driver may be ideal for you. Before hitting the highway, you’ll need to secure a commercial driver’s license (CDL), which could cost between $3,000 to $10,000 depending on state fees.

This post shares ten ways on how to pay for CDL school, hopefully ones that are just right for you.

Typical Cost of Obtaining a CDL

CDL school costs can vary in part because of the school chosen — which can be private or public — and there may be other costs than what the school charges: application fees, road test fees, CDL skills test fees, and so forth. In general, figure $3,000 to $10,000 and check with your state’s Department of Motor Vehicles (DMV) to see what fees your particular state charges.

The CDL school price will likely account for most of the costs with the DMV able to fill in gaps in information for you. Note that publicly attended CDL schools will likely be cheaper but with potentially longer wait times.

Do You Have to Go to a School to Obtain Your CDL?

If you’re starting after February 7, 2022, then the answer is “yes,” you’ll need to pass minimum training standards to get your CDL license at a registered school or a place that provides the appropriate training. The Entry Level Driver Training (ELDT) is not retroactive, according to the Federal Motor Carrier Safety Administration FMCSA but holds true for those obtaining their CDL license for the first time. The FMCSA has created an online registry for schools and other training providers to list themselves and state that they meet training requirements, both federal and state.

How to Pay for CDL School

Fortunately, plenty of options exist, similar to paying for beauty school and other types of vocational training. To help, we’ve listed ten ways to pay for your CDL school costs and associated expenses.

1. Workforce Training Funding

The Workforce Innovation and Opportunity Act (WIOA) became law on July 22, 2014, and is designed to help job seekers get the education, training, support, and employment they need.The WIOA requires states to ensure that their workforce development programs are strategically aligned to meet the needs of workers. The WIOA is managed through the U.S. Department of Labor (DOL) in collaboration with numerous partners to get the necessary resources to states and local areas.

Plus, the FMCSA CDL Program Implementation Grant provides financial resources to states.

2. State CDL Training Grants

Each of the states in the United States and the District of Columbia can apply to the federal CDL implementation grant to get funding for relevant programs that assist in their CDL program. Contact the field office of your state or your specific state (links are included in the field office chart) to get information about what’s currently available to cover your CDL school price. Explain that you need financial assistance to get quality CDL training.

3. Local CDL Training Grants

You may find it easier to start your search by contacting a community college, library, or governmental agency in your city or county. You may get directed to state-level or other resources; what’s important is to start your search on how to pay for CDL school.

4. Scholarships

You may be able to find scholarships and grants to cover CDL school costs. As an industry site notes, the past few years have highlighted the importance of commercial truck drivers in our supply chain for food, medicines, and so forth. This adds to the demand for quality truck drivers that already existed before the Covid-19 pandemic hit. The result: perhaps more grants and scholarships are available to pay for CDL school costs.

5. Funding for Veterans

If you’re a veteran, you can use your GI benefits to pay the CDL school price. However, there are tax consequences that you’ll likely want to explore before making this move.

Plus, in a 2022 announcement by the U.S. Department of Transportation (DOT) ), the agency announced an award of $3.1 million to community colleges and training institutes. Funds are to be used to help current and former military personnel to get their CDLs. You can find a list of places that received funding and an associated dollar amount here .

6. Federal Student Loans

To qualify for federal loan funding, you must first fill out a Free Application for Federal Student Aid (FAFSA®). If a CDL school meets requirements, federal student loan aid may be available. Going this route will also let you know if you qualify for a Pell Grant based on your income; again, make sure that the CDL school is eligible to receive federal funding.

7. Private Student Loans

If grants, scholarships, and federal student loans don’t cover the CDL school costs, then explore private student loans. These loans are offered by banks, credit unions, and online lenders to pay for educational expenses. You’ll fill out an application and what you’ll receive typically depends on your credit score and income. Here’s more about what to know about private student loans. You may also find valuable information in our resource about private student loans for undergrads.

8. Trucking Company Tuition Reimbursement

This is when a trucking carrier pays part to all of your CDL school costs. They may do this if, for example, you’re a current employee in another capacity. Or trucking companies may take this route to encourage someone to join their company.

9. Savings

You may discover that you have enough money in your savings account to pay the CDL. Or you may create or continue a savings plan to accrue enough funds to pay for your training. That way, there’s no loans to pay back.

10. Company Sponsored CDL Training

A company in need of drivers may be offering a training program. Just ensure that the program, which is run by the trucking company itself, instead of a training school, is quality. Typically, you’ll need to work for the company offering the training for a certain amount of time; this can be good if you’re looking for a job, eliminating the stress of the job hunt that may follow the completion of a CDL program.

The Takeaway

You may decide that becoming a commercial truck driver is a good way to earn income. If so, you’re probably wondering how to pay for CDL school — and this post shares ten potential ways. If you decide that private student loans are a useful part of the mixture, here’s more information about applying for student loans online.

Community college and other certificate programs aren’t eligible for SoFi’s private student loans. If you’re heading back to school after getting your CDL and are interested in private student loans, consider SoFi’s no fee private student loans. These loans can be used to cover your costs of tuition, books, supplies, and more so you can get on the road as a fully licensed commercial truck driver.

Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

FAQ

Can you get your CDL without going to school?

As of February 7, 2022, new trainees in a CDL program must attend classes to meet minimum requirements. This post focuses on finding ways to help you pay for CDL school.

Do some trucking companies pay for your CDL training?

Yes, some are willing to help! Reach out to trucking carriers for specifics.

How much does getting your CDL cost?

In general, it costs anywhere between $3,000 and $10,000 to get your CDL. Check your school of interest to make sure it’s a quality program and ask what it costs. Also check with your state’s DMV to see what other fees may be involved.


Photo credit: iStock/FG Trade

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs. SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
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The Facts About Getting Audited: Woman writing in notebook

What Happens When You Get Audited?

What is it about the words “tax audit” that so many people find so anxiety-provoking? The idea that the Internal Revenue Service (IRS) could be poring over your tax return can be downright nerve-racking, not to mention the possibility of mistakes found and penalties incurred.

But take a deep, calming breath: In the last decade to be reviewed, the IRS audit rate has been declining, going from 0.9% in 2010 to 0.25% in 2019. But even so, you likely want to do your best to avoid going through that process.

This is an informative, high-level overview of IRS audit triggers, and it should not be considered tax advice. It’s always worth consulting a tax professional for any questions or concerns because taxes are complicated and highly personal.

Read on to learn:

•   What is an audit?

•   What are reasons why someone may get audited?

•   What should you do if you get audited by the IRS?

What Is a Tax Audit?

A tax audit is a process by which the IRS reviews an individual’s or organization’s accounts as well as their financial details to make sure that the information submitted has been reported correctly and in keeping with the prevailing tax laws.

The IRS usually sends a letter when it reaches out to ask for more information, and the letter should let you know specifically what the agency is looking for.

You shouldn’t ever receive a text, email, or phone call from the IRS asking for personal or financial information. If you do, the IRS website offers several steps for checking out and reporting any suspicious contact.

Recommended: 5 Ways to Achieve Financial Security

Reasons Why Someone May Get Audited by the IRS

Here’s a closer look at some of the typical IRS audit triggers. Knowing them can help you understand and possibly avoid the process as you work your way through tax season.

•   You’re a high earner. Those who earn between $200,000 and $1 million were audited at a rate of less than 1% in a recently reviewed year. However, those who earn over the $1 million mark were audited at a 2.5% rate, a big jump up. If you are a high earner, it may be worthwhile to work with an experienced CPA to ensure you file precisely. You may also want to investigate ways to lower taxable income for high earners.

•   You claimed the Earned Income Tax Credit. The Earned Income Tax Credit, or EITC, is a provision that helps lower- and moderate-income workers and their families receive a tax credit. This can reduce the taxes owed or possibly increase a refund. However, research indicates that those who claim the credit are audited at a higher rate than average, perhaps because the IRS wants to be sure the credit is being used appropriately.

•   You failed to report all your income. When you are issued a W-2 form or 1099 form showing your earnings, the IRS receives a copy too. If your return doesn’t reflect the same figures that they have when they perform a cross-check, you could wind up being audited.

•   You didn’t report all of your stock trades. When you sell stock shares, the funds you receive are taxable unless the investments happen to be a retirement account that is tax-deferred. Both you and the IRS will be sent a particular kind of 1099, a Form 1099-B, reflecting activity, and you will have to report your capital gains and losses when you do your tax return. The tax rate will depend on how long you have held the investment, but it’s important that these transactions be reported and paid up when you file your return.

•   You claim large charitable contributions. If you claim tax deductions for charitable donations of cash or items, it’s important to keep records at the time you file. It’s your responsibility to have the documentation of what you have given if it’s in the amount of $250 or more. Large and unsubstantiated contributions can be problematic.

Recommended: Tax-Deductible or Not? Your Guide to End-of-Year Donations

•   You claim a home office. If you are self-employed, you may deduct a percent of your rent, phone bills, and other work-related costs on Schedule C of your return. Another option is to deduct $5 per square foot of space used for business, up to $1,500. However, the IRS has over the years been successful in minimizing this home office deduction on returns, especially since the home office must be for the exclusive purpose of work; it can’t double as, say, a guest room. This means it can be an audit risk to take this on your return.

•   You claim that your car is only used for business. This is another audit red flag. If you are self-employed and depreciate a car on Form 4562 and claim that it’s used for business 100% of the time, you may well be stretching the boundaries of believability. Because it’s unusual that a vehicle wouldn’t also be used for personal transportation, you may trigger an audit with this 100% figure. It can be important that tax deductions for freelancers aren’t too large versus income.

•   You accept cash transactions. If you work in the kind of business where you get paid in cash, especially large amounts, your return may receive extra scrutiny. The IRS is notified of cash transactions over the sum of $10,000 involving banks, car dealerships, casinos, and other businesses. Banks must also report potentially suspicious transactions involving cash (for instance, if someone deposits $9,500 in cash one day and $700 the next, thereby skirting the $10,000 reporting threshold).

•   Your business regularly shows losses. Of course, not all businesses are always profitable. But if you’ve started an enterprise and it keeps showing losses, year after year, it might be what triggers an IRS audit. It could look as if you have established this endeavor simply as a way to benefit from some tax deductions. The same can hold true if your business is barely break-even.

Recommended: Tax Loss Carryforward

•   You claim lots of travel and entertainment deductions. What else can trigger a tax audit? Here’s another one for self-employed workers: If you claim a lot of restaurant dinners, travel, and shows as business expenses, you may raise eyebrows at the IRS. This is especially true if the meals and hotels seem more lavish than your business might otherwise qualify for. Save all your receipts and documentation, and know that a high level of these expenses being claimed on Schedule C may get some attention and even an audit.

•   You make errors on your tax return. As you prepare for tax season, you may feel overwhelmed or be in a rush. Or perhaps you’re just not the most detail-oriented person on the planet. But if you make math mistakes on your return or, say, round up numbers to the nearest $10 or $100 because you can’t be bothered with change, heads-up: You may put yourself in line for an audit. Precision and specificity do count.

A Few Facts About Tax Audits

Here are a few points to be aware of on the topic of IRS tax audits. They may clarify some concerns that are on your mind.

A Compliance Contact Isn’t Always an Audit

A compliance check is a review done by the IRS to ensure that a taxpayer is adhering to the requirements for recordkeeping and information reporting. It does not relate directly to whether or not a person owes taxes.

There Are Different Types of Audits

Just as there are different kinds of taxes, so too are there different kinds of audits. If you are being audited by the IRS, there are a couple of ways this may happen. Mail audits are fairly common; in these, you mail in documents in response to specific inquiries. Office and field audits are more serious, and the IRS asks for proof of credits and deductions, and may look at your financial records more carefully to see if your tax return is correct. The IRS may be looking for tax evasion on these kinds of audits. The third kind of audit is what’s known as a CP2000 notice. Technically, this isn’t an audit but an underreporter inquiry, and is likely about a discrepancy between your return and the tax documents that were filed with them for the tax year in question.

Some Groups Face Higher Audit Rates than Others

While audit rates have dropped for all income levels, those with incomes below $25,000 and above $500,000 are audited at higher rates than the average.

Good Record Keeping May Offer Protection

If you are audited, it can be very helpful if your records are in good order. That way you can explain the amounts you reported and easily answer questions the IRS may have. This can serve as a good incentive for you to keep your records diligently going forward.

Ignoring the IRS Could Be Costly

What happens when you get audited can of course vary. But one possibility if you are audited is that you may be liable for back taxes not paid and penalties. These penalties typically accrue over time, so the longer you go without paying them, the higher they can be. That’s why it’s a good reason to respond promptly if you do get audited.

What to Do if You Get Audited

What if you are one of those few people who is told that your returns are being reviewed? This is what to expect and what to do if you get audited by the IRS:

•   Typically, you will get a letter from the IRS in the mail that will identify an issue (such as your reporting less income than their records show you earned) and requesting a response.

•   It’s wise to gather your documents so you can make your case. It can be smart to send your reply as a clear, concise statement of what your documentation shows and share those records to help prove your point.

•   One important thing to do when you get audited is to reply in a timely manner and make sure your reply gets where it’s going. It can be a wise move to use additional mail services to ensure you have proof of delivery.

•   If you worked with a CPA or an enrolled agent on your return, they can likely advise you. If you used tax-return software, they may also offer help.

•   Your response to the mail inquiry may be enough to resolve the situation. Or the IRS may have additional questions for or requirements of documentation for you. If things escalate to a face-to-face meeting, you may want to have a tax professional work with you and accompany you for guidance and support.

•   Whether it’s a correspondence exam or an in-person audit, you’ll get a printed list of specific records the IRS wants to see. If your audit is being managed by mail, you may be able to send the documents electronically or by mail. (Be sure to get a receipt for delivery.) Note the IRS will generally accept copies and they caution against mailing original documents in. If it isn’t possible to send the documents, you can request an in-person meeting.

•   If you need more time to respond to a correspondence exam, you can fax or email a request for an extension using the contact information in your IRS letter. Or, if you’re being asked to comply with an in-person exam, you can contact the auditor assigned to your case to request an extension.

•   Also worth noting: If the IRS finds discrepancies in your return, it may review returns from up to the last six years to better assess what the situation is.

The Takeaway

No one can guarantee a return won’t be audited by the IRS — even if you aren’t doing any of the things most experts say might put you at higher risk. But if you’re honest about your income and your deductions, keep organized and complete records, take care to enter all information accurately, and double-check your work, you may be able to avoid major problems should you get audited.

3 Money Tips

1.    Direct deposit is the fastest way to get an IRS tax refund. More than 9 out of 10 refunds are issued in less than 21 days using this free service, plus you can track the payment and even split the funds into different bank accounts.

2.    When you overdraft your checking account, you’ll likely pay a non-sufficient fund fee of, say, $35. Look into linking a savings account to your checking account as a backup to avoid that, or shop around for a bank that doesn’t charge you for overdrafting.

3.    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.

Better banking is here with up to 3.75% APY on SoFi Checking and Savings.

FAQ

Are audits always negative?

While IRS audits make most people sweaty-palmed, they can be as simple as answering some questions by mail. They are not necessarily as scary as you may think.

How do I know that I am being audited?

If you are being audited, you will be notified, most likely by mail, by the IRS.

What happens after an audit is conducted?

After an audit is conducted, you will be told the outcome. You may be told you owe taxes and penalties or not. If you are assessed additional taxes and fees, you can complete paperwork and pay them if you agree with the findings. If you don’t, you can contact the auditor to discuss and request a review of the findings. If necessary, the matter can be escalated to Alternative Dispute Resolution (ADR) or you can file an appeal with the IRS Appeals Office.


SoFi members with direct deposit can earn up to 3.75% annual percentage yield (APY) interest on Savings account balances (including Vaults) and up to 2.50% APY on Checking account balances. There is no minimum direct deposit amount required to qualify for these rates. Members without direct deposit will earn 1.20% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 12/16/2022. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2022 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
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