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Oct
08
2025

Crypto Content Module v2

By | Uncategorized | Comments Off on Crypto Content Module v2

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A wide selection of coins.

Get access to Bitcoin, Ethereum, and Solana, plus over 30 cryptocurrencies.


Join the waitlist

Learn about crypto.

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What Is Cryptocurrency?

What Is Cryptocurrency?

Cryptocurrency is a digital form of money that exists entirely online and generally operates independently of a central bank or government. Crypto is designed to be decentralized, allowing peer-to-peer transactions without relying on banks or payment processors. Transaction speed depends on the network – some are near-instant, while others take more time.

Unlike traditional currencies like the U.S. dollar, crypto transactions are secured through cryptography and recorded on the blockchain. This verification ensures security and integrity without relying on a single authority. Think of it like a shared digital record book that records and verifies crypto transactions on a distributed network of computers worldwide. Its shared nature makes the system transparent and difficult to tamper with.

Bitcoin launched in 2009 as the first major digital currency. Today, there are thousands of cryptocurrencies – some with specific use cases (like payments, gaming, or decentralized finance), though many are experimental or speculative. They offer a new way to think about money and value transfers based on code rather than institutions.

Although crypto began as an alternative to traditional finance, it’s increasingly moving towards the mainstream. Some banks and licensed custodians now offer crypto services under evolving regulatory frameworks.

Cryptocurrency and digital assets are not insured by the Federal Deposit Insurance Corporation (FDIC), not bank-guaranteed, and may lose value.



How Blockchain Works

How Blockchain Works

Blockchain enables cryptocurrency to operate by verifying transactions collectively across a network rather than relying on a single intermediary. Think of the blockchain as a shared digital record book that anyone on the network can view but no single participant can unilaterally change. By automatically recording and verifying transactions, it removes the need for financial institutions or payment processors though many users still interact through exchanges or custodial services.

Every time someone sends or receives crypto, for example, the details are added to this record book and shared across thousands of computers around the world. These computers work together to confirm that the information is accurate, such as verifying that the sender actually has the funds. Once verified, the transaction is grouped with others into a new block. When the block is complete, it is locked and connected to the one before it, creating a continuous chain of verified records. That’s how the blockchain got its name.

The shared nature of this record book makes altering it extremely difficult, because it would require changing a majority of copies across the network. This design makes the system secure, transparent, and able to run automatically without a central authority.



Why People Use Cryptocurrency

Why People Use Cryptocurrency

People use crypto for a variety of reasons, but a major one is control – having more direct ownership over how their money moves and grows. And there are a number of other potential benefits, too:

  • Fast and low-cost transfers: Many cryptocurrencies make it possible to send money quickly and cheaply – especially across borders – though timing and fees can vary by network and exchange rate.
  • Accessibility: Anyone with an internet connection can use crypto, even without a traditional bank account. This makes it especially useful where banking options are limited. When you hold crypto, your balance is publicly visible on the blockchain but accessible only with your private keys. (If you use a custodial wallet, a platform manages those keys for you.)
  • Independence and control: Crypto networks don’t rely on banks or governments to operate, though access and regulation may involve them.
  • Diversification: Digital assets may represent a new, distinct category within a financial portfolio alongside bank and investment accounts, retirement savings, and tangible assets like a home or car.



How To Evaluate Different Coins

How To Evaluate Different Coins

There are thousands of cryptocurrencies, so how do you decide which one to buy? Building a framework of how to think about a crypto’s value proposition can help you make this decision.

Here three key things to keep in mind:

  1. Purpose: Do your research on what a coin was designed to do. Some focus on speed or efficiency, while others are built for specific use cases, such as gaming or digital collectibles. Bitcoin was originally designed for digital payments, for example. Knowing a coin’s purpose can help you assess whether its market performance is driven by momentary hype or longer-term demand.
  2. Credibility and supply: Anyone can create a cryptocurrency, so not all have staying power. An experienced and transparent team behind a crypto project can be an important indicator. The supply of a coin is another part of this equation: Some supplies are limited, which can affect the coin’s value in the long-term.
  3. Market behavior: Crypto prices are driven by a mix of supply, demand, and confidence, which means that the market can be volatile and move quickly in response to headlines. Hype about a specific coin can move the market significantly, making it more important to know what you’re buying and why.



Protecting Your Crypto

Protecting Your Crypto

Cryptocurrency isn’t held in a bank account or insured by the Federal Deposit Insurance Corporation, so understanding how to keep it safe is key. Some custodial platforms may offer private insurance but not FDIC protection.

To own digital assets, which live online in blockchain, you need a crypto wallet. But unlike the wallet in your pocket, it doesn’t actually hold coins. Instead, it’s a tool to store the keys to your crypto, unique codes that prove ownership and let you send or receive funds.

There are two main types of wallets:

  • Custodial wallets: Your private keys are managed and protected by a licensed custodian like SoFi. You still own your crypto, but storage and security are handled for you in a regulated environment.
  • Self-custody wallets: You manage your private keys directly. This offers full control but also full responsibility to protect your digital assets. If your keys or recovery phrases are lost, your crypto can’t be recovered.

Good digital habits are your best defense: Use strong, unique passwords, enable two-factor authentication, and keep your devices and apps up to date. So stay alert, stay informed, and stay safe.



{/* tablet content mod */}


What Is Crypto?

What Is Cryptocurrency?

Cryptocurrency is a digital form of money that exists entirely online and generally operates independently of a central bank or government. Crypto is designed to be decentralized, allowing peer-to-peer transactions without relying on banks or payment processors. Transaction speed depends on the network – some are near-instant, while others take more time.

Unlike traditional currencies like the U.S. dollar, crypto transactions are secured through cryptography and recorded on the blockchain. This verification ensures security and integrity without relying on a single authority. Think of it like a shared digital record book that records and verifies crypto transactions on a distributed network of computers worldwide. Its shared nature makes the system transparent and difficult to tamper with.

Bitcoin launched in 2009 as the first major digital currency. Today, there are thousands of cryptocurrencies – some with specific use cases (like payments, gaming, or decentralized finance), though many are experimental or speculative. They offer a new way to think about money and value transfers based on code rather than institutions.

Although crypto began as an alternative to traditional finance, it’s increasingly moving towards the mainstream. Some banks and licensed custodians now offer crypto services under evolving regulatory frameworks.

Cryptocurrency and digital assets are not insured by the Federal Deposit Insurance Corporation (FDIC), not bank-guaranteed, and may lose value.



How Blockchain Works

How Blockchain Works

Blockchain enables cryptocurrency to operate by verifying transactions collectively across a network rather than relying on a single intermediary. Think of the blockchain as a shared digital record book that anyone on the network can view but no single participant can unilaterally change. By automatically recording and verifying transactions, it removes the need for financial institutions or payment processors though many users still interact through exchanges or custodial services.

Every time someone sends or receives crypto, for example, the details are added to this record book and shared across thousands of computers around the world. These computers work together to confirm that the information is accurate, such as verifying that the sender actually has the funds. Once verified, the transaction is grouped with others into a new block. When the block is complete, it is locked and connected to the one before it, creating a continuous chain of verified records. That’s how the blockchain got its name.

The shared nature of this record book makes altering it extremely difficult, because it would require changing a majority of copies across the network. This design makes the system secure, transparent, and able to run automatically without a central authority.



Why People Use Cryptocurrency

Why People Use Cryptocurrency

People use crypto for a variety of reasons, but a major one is control – having more direct ownership over how their money moves and grows. And there are a number of other potential benefits, too:

  • Fast and low-cost transfers: Many cryptocurrencies make it possible to send money quickly and cheaply – especially across borders – though timing and fees can vary by network and exchange rate.
  • Accessibility: Anyone with an internet connection can use crypto, even without a traditional bank account. This makes it especially useful where banking options are limited. When you hold crypto, your balance is publicly visible on the blockchain but accessible only with your private keys. (If you use a custodial wallet, a platform manages those keys for you.)
  • Independence and control: Crypto networks don’t rely on banks or governments to operate, though access and regulation may involve them.
  • Diversification: Digital assets may represent a new, distinct category within a financial portfolio alongside bank and investment accounts, retirement savings, and tangible assets like a home or car.



How To Evaluate Different Coins

How To Evaluate Different Coins

There are thousands of cryptocurrencies, so how do you decide which one to buy? Building a framework of how to think about a crypto’s value proposition can help you make this decision.

Here three key things to keep in mind:

  1. Purpose: Do your research on what a coin was designed to do. Some focus on speed or efficiency, while others are built for specific use cases, such as gaming or digital collectibles. Bitcoin was originally designed for digital payments, for example. Knowing a coin’s purpose can help you assess whether its market performance is driven by momentary hype or longer-term demand.
  2. Credibility and supply: Anyone can create a cryptocurrency, so not all have staying power. An experienced and transparent team behind a crypto project can be an important indicator. The supply of a coin is another part of this equation: Some supplies are limited, which can affect the coin’s value in the long-term.
  3. Market behavior: Crypto prices are driven by a mix of supply, demand, and confidence, which means that the market can be volatile and move quickly in response to headlines. Hype about a specific coin can move the market significantly, making it more important to know what you’re buying and why.



Protecting Your Crypto

Protecting Your Crypto

Cryptocurrency isn’t held in a bank account or insured by the Federal Deposit Insurance Corporation, so understanding how to keep it safe is key. Some custodial platforms may offer private insurance but not FDIC protection.

To own digital assets, which live online in blockchain, you need a crypto wallet. But unlike the wallet in your pocket, it doesn’t actually hold coins. Instead, it’s a tool to store the keys to your crypto, unique codes that prove ownership and let you send or receive funds.

There are two main types of wallets:

  • Custodial wallets: Your private keys are managed and protected by a licensed custodian like SoFi. You still own your crypto, but storage and security are handled for you in a regulated environment.
  • Self-custody wallets: You manage your private keys directly. This offers full control but also full responsibility to protect your digital assets. If your keys or recovery phrases are lost, your crypto can’t be recovered.

Good digital habits are your best defense: Use strong, unique passwords, enable two-factor authentication, and keep your devices and apps up to date. So stay alert, stay informed, and stay safe.



{/* mobile content mod */}


What Is Cryptocurrency?

What Is Cryptocurrency?

Cryptocurrency is a digital form of money that exists entirely online and generally operates independently of a central bank or government. Crypto is designed to be decentralized, allowing peer-to-peer transactions without relying on banks or payment processors. Transaction speed depends on the network – some are near-instant, while others take more time.

Unlike traditional currencies like the U.S. dollar, crypto transactions are secured through cryptography and recorded on the blockchain. This verification ensures security and integrity without relying on a single authority. Think of it like a shared digital record book that records and verifies crypto transactions on a distributed network of computers worldwide. Its shared nature makes the system transparent and difficult to tamper with.

Bitcoin launched in 2009 as the first major digital currency. Today, there are thousands of cryptocurrencies – some with specific use cases (like payments, gaming, or decentralized finance), though many are experimental or speculative. They offer a new way to think about money and value transfers based on code rather than institutions.

Although crypto began as an alternative to traditional finance, it’s increasingly moving towards the mainstream. Some banks and licensed custodians now offer crypto services under evolving regulatory frameworks.

Cryptocurrency and digital assets are not insured by the Federal Deposit Insurance Corporation (FDIC), not bank-guaranteed, and may lose value.



How Blockchain Works

How Blockchain Works

Blockchain enables cryptocurrency to operate by verifying transactions collectively across a network rather than relying on a single intermediary. Think of the blockchain as a shared digital record book that anyone on the network can view but no single participant can unilaterally change. By automatically recording and verifying transactions, it removes the need for financial institutions or payment processors though many users still interact through exchanges or custodial services.

Every time someone sends or receives crypto, for example, the details are added to this record book and shared across thousands of computers around the world. These computers work together to confirm that the information is accurate, such as verifying that the sender actually has the funds. Once verified, the transaction is grouped with others into a new block. When the block is complete, it is locked and connected to the one before it, creating a continuous chain of verified records. That’s how the blockchain got its name.

The shared nature of this record book makes altering it extremely difficult, because it would require changing a majority of copies across the network. This design makes the system secure, transparent, and able to run automatically without a central authority.



Why People Use Cryptocurrency

Why People Use Cryptocurrency

People use crypto for a variety of reasons, but a major one is control – having more direct ownership over how their money moves and grows. And there are a number of other potential benefits, too:

  • Fast and low-cost transfers: Many cryptocurrencies make it possible to send money quickly and cheaply – especially across borders – though timing and fees can vary by network and exchange rate.
  • Accessibility: Anyone with an internet connection can use crypto, even without a traditional bank account. This makes it especially useful where banking options are limited. When you hold crypto, your balance is publicly visible on the blockchain but accessible only with your private keys. (If you use a custodial wallet, a platform manages those keys for you.)
  • Independence and control: Crypto networks don’t rely on banks or governments to operate, though access and regulation may involve them.
  • Diversification: Digital assets may represent a new, distinct category within a financial portfolio alongside bank and investment accounts, retirement savings, and tangible assets like a home or car.



How To Evaluate Different Coins

How To Evaluate Different Coins

There are thousands of cryptocurrencies, so how do you decide which one to buy? Building a framework of how to think about a crypto’s value proposition can help you make this decision.

Here three key things to keep in mind:

  1. Purpose: Do your research on what a coin was designed to do. Some focus on speed or efficiency, while others are built for specific use cases, such as gaming or digital collectibles. Bitcoin was originally designed for digital payments, for example. Knowing a coin’s purpose can help you assess whether its market performance is driven by momentary hype or longer-term demand.
  2. Credibility and supply: Anyone can create a cryptocurrency, so not all have staying power. An experienced and transparent team behind a crypto project can be an important indicator. The supply of a coin is another part of this equation: Some supplies are limited, which can affect the coin’s value in the long-term.
  3. Market behavior: Crypto prices are driven by a mix of supply, demand, and confidence, which means that the market can be volatile and move quickly in response to headlines. Hype about a specific coin can move the market significantly, making it more important to know what you’re buying and why.



Protecting Your Crypto

Protecting Your Crypto

Cryptocurrency isn’t held in a bank account or insured by the Federal Deposit Insurance Corporation, so understanding how to keep it safe is key. Some custodial platforms may offer private insurance but not FDIC protection.

To own digital assets, which live online in blockchain, you need a crypto wallet. But unlike the wallet in your pocket, it doesn’t actually hold coins. Instead, it’s a tool to store the keys to your crypto, unique codes that prove ownership and let you send or receive funds.

There are two main types of wallets:

  • Custodial wallets: Your private keys are managed and protected by a licensed custodian like SoFi. You still own your crypto, but storage and security are handled for you in a regulated environment.
  • Self-custody wallets: You manage your private keys directly. This offers full control but also full responsibility to protect your digital assets. If your keys or recovery phrases are lost, your crypto can’t be recovered.

Good digital habits are your best defense: Use strong, unique passwords, enable two-factor authentication, and keep your devices and apps up to date. So stay alert, stay informed, and stay safe.



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Combine your debt into one payment and you could reduce your monthly payments. Learn more.

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Pay for home repairs or renovations without using your home as collateral. Learn more.

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Cover pregnancy, adoption, IVF or surrogacy costs with manageable monthly payments. Learn more.

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From engagement ring to honeymoon—you could save money compared to a high-rate credit card. Learn more.

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Oct
08
2025

Financial Insights – Lillian

By | Uncategorized | Comments Off on Financial Insights – Lillian

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FINANCIAL INSIGHTS

Track and manage all
your finances, all in one place.

✓ Log in to just one app to view all your financial accounts.
✓ See your spending, set budgets, monitor credit, and more—for free.
✓ Keep your data protected with multifactor authentication.


Get started

Checking your rate will not affect your credit score.


Based on SoFi Members. This claim may not be representative of the experience of all other customers. | Updated: 3/27/2025

See how SoFi could help you get
your full financial picture.

1/5

Credit score monitoring

Track your credit score with weekly updates and
earn rewards points1 every time it goes up five
points or more.


Learn more

2/5

Budgeting and spending

Set budgets, categorize your spending, and spot
upcoming bills with a free budget planner.


Learn more

3/5

Property tracking

Track the value of your home and real estate
investments right along with the rest of your
personal finances.


Learn more

4/5

Debt summary

View, organize, and understand your current debt and
learn how to better manage it with insights from our
free debt tracker.


Learn more

5/5

Investment portfolio

See all your investment accounts at once and
track how they change with the market.


Learn more


See all your accounts—not just SoFi ones.

You can instantly connect to more than 12,000 financial institutions. That means your easy-to-use dashboard could include your checking, savings, student loan, credit card, mortgage, investment, retirement, and other accounts—plus credit score monitoring, budgeting tools, and more. Did we mention it’s free?


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Knowing your credit
score is the
first step to financial wellness.

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Keeping score.

Get weekly updates, understand the factors that drive your credit score, and get rewards points every time it goes up five points or more.

You’re covered.

Multifactor authentication helps keep your personal data safe and secure.

Check it anytime.

We only do a “soft” pull on your credit, so it won’t hurt your score† or your wallet—plus it’s free.

Powered by TransUnion®.

Get your VantageScore® 3.0 credit score, a model developed by all three national credit reporting companies.


Get started

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Don’t take our word for it.
See what members have to say.

I love using SoFi to see an up to date snapshot on my full financial picture. Being able to pull in all my accounts, review equity in my home, and monitor my credit score gives me a true one stop shop to “get my money right.” Having up to date info all pulled together let’s me save time and feel confident that I know my full financial picture.

—Brad S.

Actual SoFi Ambassador.

SoFi has been the best tool to save me time, money and helps me accomplish my future financial goals and the best of all it’s all in one app. The setup is simple and you never have to go through several logins to see all your information on one screen.

—Anja C.

Actual SoFi Ambassador.

The best part about using SoFi is the ability to see your financials broken down by cash, investments, credit cards, loans and property. It helps me have a better understanding of where all of my money lives and how it increases or decreases my net worth over time. SoFi has helped me become more confident with my financials and help me start to better prepare for retirement. This is a tool that everyone should take advantage of.

—Betty T.

Actual SoFi Ambassador.

SoFi has been incredibly helpful in having a clear, consolidated picture of my finances. A regularly updated credit score encourages me to constantly improve it, while seeing my investments gives me confidence for future goals and retirement. SoFi also keeps me honest when spending money and guides me towards better habits.

—Ethan T.

Actual SoFi Ambassador.

The best part about SoFi is the ability to see all my accounts, investment, credit, and more all in one place. SoFi offers me a one-stop-shop to view my net worth on all one platform. My spending and investing habits have improved thanks to the ability to see upcoming recurring expenses, monthly savings, and spending categories. Credit score monitoring also provided me with reminders that I was doing the right thing with my credit habits. All in all, I feel more confident than ever to lead my wallet into the world safely.

—Austin W.

Actual SoFi Ambassador.


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FAQs


What accounts can I link?
You can link your deposit account (checking, savings), investment, and retirement accounts as well as credit cards, student loans, mortgages, and other liabilities. If you’re not able to link your account, you will be able to manually add an account or asset (like an owned car or home), so that you’re able to see your entire net worth.


How many financial institutions can I connect to SoFi?
You can securely connect to more than 12,000+ financial institutions with SoFi. Once you’ve linked
your account, you can track all your finances across both your SoFi and external financial accounts in one
money tracker app. If your bank is not listed, you can manually link your accounts or assets to view your
net worth.


What are the primary components of my credit score?

SoFi leverages the TransUnion VantageScore 3.0 model which includes several key components:

  • Payment History – comprised of whether you regularly pay your bills on time.
  • Credit Age and Type – average age of your credit accounts and mix of various types such as revolving debt and installment debt. An example of revolving debt is a credit card and an example of installment debt is a student loan.
  • Credit Utilization – the percentage of your credit limit you currently have outstanding.
  • Balances – balances on your credit accounts including current balances as well as delinquent accounts.
  • Inquiries – recent inquiries or applications for new credit.
  • Available Credit – amount of available credit that is unused.

Learn more: What Factors Affect Your Credit Score?


Will checking my credit hurt my credit score?

Checking your own credit report is considered a soft inquiry, which does not impact your credit score.

Learn more: Does Checking Your Credit Score Lower Your Rating?



Why does my credit score matter?

Your credit score is used by lenders, among others, as they review your applications for credit and determine your creditworthiness which might influence if they are willing to extend credit and at what terms. It might also be used by landlords, utility providers, and prospective employers.

Learn more: Why Does Creditworthiness Matter?



Are SoFi’s financial insights features free?
Yes, all of SoFi’s features including credit score monitoring, online budgeting and spending tracker,
debt summary and more are free to use!


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Oct
08
2025
Cost of Living in Texas (2021)

Cost of Living in Texas

By | mortgage | Comments Off on Cost of Living in Texas


Cost of Living in Texas

cost of living in Texas 2021

On this page:

    On this page:

      By Jacqueline DeMarco

      (Last Updated – 03/2025)

      If you’re looking to move to a state with gainful employment, look to Texas. Texas jobs are predicted to increase 1.6% in 2025, according to the Federal Reserve Bank of Dallas.

      From Dallas to Austin, there are plenty of great cities to grow a career in. Alongside employment opportunities, the second-largest U.S. state offers a worldwide food scene that goes way beyond barbecue.

      To learn more about what it will cost you to live in the Lone Star State, keep reading for a breakdown of the Texas cost of living.

      What’s the Average Cost of Living in Texas?

      Average Cost of Living in Texas: $52,299 per year

      When it comes to expenses in this sprawling state, the 2024 data from MERIC found that Texans enjoy the 16th lowest cost of living in the country.

      Other Southwestern states like Arizona (37th) and Utah (36th) have a much higher cost of living, while New Mexico is more similar to Texas as the state with the 19th lowest cost of living.

      So how much does it cost to live in Texas? According to the latest data from the Bureau of Economic Analysis, the average total personal consumption cost in Texas is $52,299 per year. Here’s how that breaks down.

      Category

      Average Annual Per-Capita Cost in Texas

      Housing and Utilities

      $9,428

      Health Care

      $7,411

      Food and Beverages (nonrestaurant)

      $4,123

      Gas and Energy Goods

      $1,500

      All Other Personal Expenditures

      $29,836

      That’s $4,358 a month, per person, on average.

      Housing Costs in Texas

      Average Housing Costs in Texas: $1,252 to $2,219 per month

      With more than 12 million housing units, according to U.S. census data, Texas offers plenty of places to live. The big question is, how much will it cost you to find your home sweet home? Texas’ typical home value was $299,982 in December 2024, according to Zillow.

      Here’s what it looks like to rent or own on a monthly basis in Texas, per the latest data from the U.S. Census Bureau:

      •   Median monthly mortgage cost: $2,012

      •   Median studio rent: $1,252

      •   Median one-bedroom rent: $1,261

      •   Median two-bedroom rent: $1,396

      •   Median three-bedroom rent: $1,644

      •   Median four-bedroom rent: $2,129

      •   Median five-bedroom (or more) rent: $2,219

      •   Median gross rent: $1,413

      Texas is a huge state. Let’s take a look at housing prices for just 20 cities, courtesy of Zillow data sourced in March 2025.

      Texas City

      Average Home Value

      Beaumont

      $148,990

      Waco

      $188,074

      Brownsville

      $188,988

      Abilene

      $190,065

      Amarillo

      $196,062

      Lubbock

      $199,764

      Laredo

      $211,258

      Corpus Christi

      $215,707

      Killeen

      $217,566

      McAllen

      $221,115

      Longview

      $223,296

      El Paso

      $224,689

      Odessa

      $236,898

      Tyler

      $246,618

      San Antonio (San Antonio Housing Market Trends)

      $250,675

      Houston (Houston Housing Market Trends)

      $265,434

      Dallas (Dallas Housing Market Trends)

      $306,959

      Midland

      $315,356

      College Station

      $342,247

      Austin (Austin Housing Market Trends)

      $517,589

      Utility Costs in Texas

      Average Utility Costs in Texas: $408 per month

      Even though they aren’t the most fun bills to pay, we all need our utilities.

      Utility

      Average Texas Bill

      Electricity

      $166

      Natural Gas

      $61

      Cable & Internet

      $118

      Water

      $63

      Sources: U.S. Energy Information Administration, Electric Sales, Revenue, and Average Price; Inspirecleanenergy.com; DoxoInsights, U.S. Cable & Internet Market Size and Household Spending Report; and Rentcafe.com, What Is the Average Water Bill?

      Groceries & Food

      Average Grocery & Food Costs in Texas: $343.58 per person, per month

      How much you spend on food depends on many things, including the state you live in. The Bureau of Economic Analysis estimates that the average Texan spends $4,123 a year on nonrestaurant sustenance, or about $344 per month.

      The specific area of a state that you live in can also affect grocery spending. The Council for Community and Economic Research, which ranks food costs in major American cities, compared grocery spending among some Texas cities for 2024. Below, the cities are ranked from lowest costs to highest costs.

      Texas City

      Grocery Items Index

      Harlingen

      92.7

      McAllen

      93.3

      Waco

      93.3

      Temple

      93.6

      Amarillo

      93.7

      Corpus Christi

      94.3

      Nacogdoches

      94.5

      San Antonio

      94.5

      Odessa

      95.7

      Abilene

      95.8

      Tyler

      96.0

      Midland

      96.1

      Lubbock

      96.4

      Longview

      96.5

      Austin

      96.6

      El Paso

      96.7

      Wichita Falls

      97.3

      Conroe

      97.5

      Plano

      97.7

      Dallas

      98.8

      Fort Worth

      99.3

      Houston

      99.3

      Transportation

      Average Transportation Costs in Texas: $10,165 to $18,915 per year

      You’ll need to hit the open road from time to time, and your family makeup can affect how much you need to spend to get everyone where they need to go. MIT’s Living Wage Calculator estimates what you can expect to spend on transportation, based on the most recent data available.

      Family Makeup

      Average Annual Transportation Cost

      One adult, no children

      $10,165

      Two working adults, no children

      $11,764

      Two working adults, three children

      $18,915

      Health Care

      Average Health Care Costs in Texas: $7,411 per person, per year

      Each Texan spends about $7,411 a year on health care, according to the most recent Bureau of Economic Analysis Personal Consumption Expenditures by State report.

      Of course, factors like specific medical needs and coverage affect how much any one person spends on health care.

      Child Care

      Average Child Care Costs in Texas: $719 to $1,258 or more per child, per month

      Child care is a large but necessary expense for most parents, though there is some wiggle room depending on what kind of care you’re seeking.

      State resources can help make financing child care easier. For example, the Texas Workforce Commission has a program that subsidizes child care for low-income families so parents can work or pursue an education.

      These are the average child care costs you can expect to encounter in Texas, according to the latest data from CostofChildCare.org.

      Type of Child Care

      Average Cost Per Month, Per Child

      Infant Classroom

      $1,254

      Toddler Classroom

      $816

      Preschooler Classroom

      $719

      Home-Based Family Child Care

      $1,258

      Taxes

      State Tax Rate: None

      Texas doesn’t charge any state income tax, as noted by the Tax Foundation’s 2025 overview of state individual income tax rates and brackets. Florida, Tennessee, South Dakota, Wyoming, Nevada, New Hampshire, Washington, and Alaska also don’t charge state income tax.

      If you’re moving from a state with high income taxes like New Jersey (top marginal rate, 10.75%) or California (top rate, 13.3%), then Texas might look like a pretty smart move.

      Miscellaneous Costs

      You’ve paid for the basics, and now it’s time to have a little fun. The Bureau of Economic Analysis estimates that every Texan spends $29,836 a year on personal expenditures.

      These are a few examples of what it can cost to check out Texas pleasures (costs are as of March 2025).

      •  Tickets to the Space Center Houston: $0 to $44.95, depending on age of visitor

      •  Family membership to the Houston Zoo: $149 to $349, depending on pass type

      •  Dinner at Fort Worth fan favorite Goldee’s Bar-BQ: $16 for a half-pound brisket

      And remember the Alamo, in San Antonio. Church entry is free; you can book a tour of the complex for $10 and up.

      Recommended: What Are the Average Monthly Expenses for a Single Person?

      How Much Money Do You Need to Live Comfortably in Texas?

      Only you can decide what it truly means to live comfortably by your standards, but U.S. News & World Report’s Affordability Rankings can give you a pretty good idea of how affordable a state is to live in.

      Texas lands 28th on that list of 50, so it’s neither one of the hardest nor easiest places in which to live comfortably. MERIC identified Texas as the 16th most affordable state to live in. Conclusion: Depending on your lifestyle choices, Texas can be easy to live in comfortably.

      You’ll want to create a budget to make sure moving to Texas works out in your bank account’s favor.


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      What City Has the Lowest Cost of Living in Texas?

      Digging through the latest Council for Community and Economic Research’s Cost of Living Index yielded the three most affordable major cities in Texas.

      Harlingen

      Per the latest census count, Harlingen has about 72,000 residents, yet it houses a convention center and plenty of dining and shopping options. The research council found Harlingen to be Texas’ most affordable major city, with a cost-of-living index of 82.1. Redfin listed a typical home value in this city near the Mexican border at about $193,000 at the end of 2024.

      Amarillo

      If you’re looking for cowboy vibes, Amarillo (cost-of-living index of 83.3) might just be the perfect place for you to call home. This historic city in the Texas panhandle’s high plains is full of both working Western ranches and modern businesses. As noted above, Zillow listed a typical home price in Amarillo of about $203,686 at the end of 2024.

      McAllen

      With a cost-of-living index of 85.1, McAllen is the third-most-affordable city in Texas. People travel from around the world to check out the roughly 360 species of birds and more than 300 butterfly species that can be seen in and around this border city. There are also plenty of art and nightlife opportunities. Zillow gave a typical home price of $187,270 in December 2024, as mentioned above.

      SoFi Home Loans

      The Texas cost of living is lower than that of many other states. Good Tex-Mex eats, no state income tax, and moderate home prices beckon newcomers.

      Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

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      FAQ

      How much money do you need to live comfortably in Texas?

      That likely depends on your lifestyle, family, and where you live. The Bureau of Economic Analysis estimates the expense of living in Texas to be just under $52,300 per person. But if you’re living in a bigger city, want to enjoy a few luxuries, and even save a bit, a 50/30/20 budget would call for about $65,000 or more. A budgeting app can help you stay on track.

      Which city in Texas has the lowest cost of living?

      Harlingen is a low-cost standout in the Lone Star State, with a cost of living 7% lower than the national average. But Amarillo, Abilene, and Nacogdoches are also budget-friendly. From housing to groceries and utilities, these cities can help you stretch your dollar.

      What is the average house cost in Texas?

      The average home value is $299,787, according to Zillow’s figures for March 2025. But prices vary widely. The table above showing average home values in 20 cities shows how big a difference location can make.

      Photo credit: iStock/dszc

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      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.

      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.



      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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      Qualifying for the reward requires using a real estate agent that participates in HomeStory’s broker to broker agreement to complete the real estate buy and/or sell transaction. You retain the right to negotiate buyer and or seller representation agreements. Upon successful close of the transaction, the Real Estate Agent pays a fee to HomeStory Real Estate Services. All Agents have been independently vetted by HomeStory to meet performance expectations required to participate in the program. If you are currently working with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®. A reward is not available where prohibited by state law, including Alaska, Iowa, Louisiana and Missouri. A reduced agent commission may be available for sellers in lieu of the reward in Mississippi, New Jersey, Oklahoma, and Oregon and should be discussed with the agent upon enrollment. No reward will be available for buyers in Mississippi, Oklahoma, and Oregon. A commission credit may be available for buyers in lieu of the reward in New Jersey and must be discussed with the agent upon enrollment and included in a Buyer Agency Agreement with Rebate Provision. Rewards in Kansas and Tennessee are required to be delivered by gift card.

      HomeStory will issue the reward using the payment option you select and will be sent to the client enrolled in the program within 45 days of HomeStory Real Estate Services receipt of settlement statements and any other documentation reasonably required to calculate the applicable reward amount. Real estate agent fees and commissions still apply. Short sale transactions do not qualify for the reward. Depending on state regulations highlighted above, reward amount is based on sale price of the home purchased and/or sold and cannot exceed $9,500 per buy or sell transaction. Employer-sponsored relocations may preclude participation in the reward program offering. SoFi is not responsible for the reward.

      SoFi Bank, N.A. (NMLS #696891) does not perform any activity that is or could be construed as unlicensed real estate activity, and SoFi is not licensed as a real estate broker. Agents of SoFi are not authorized to perform real estate activity.

      If your property is currently listed with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®.

      Reward is valid for 18 months from date of enrollment. After 18 months, you must re-enroll to be eligible for a reward.

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      Oct
      07
      2025

      Net Pay Calculator

      By | Uncategorized | Comments Off on Net Pay Calculator


      Net Pay Calculator

      By SoFi Editors | October 6, 2025

      Curious about how your total pay translates into net pay? You’re in the right place. The difference between the amount you earn and what lands in your bank account each pay period can be surprisingly significant. Using an online calculator to figure out your net pay can help you understand your take-home pay and budget more effectively.

      Key Points

      •   A net pay calculator can accurately estimate take-home pay, though not necessarily the exact amount.

      •   Gross income is your total annual salary, while net pay reflects money after taxes and other deductions are taken.

      •   Filing status impacts tax withholding and net pay.

      •   A net pay calculator can consider federal, state, and local taxes.

      •   Understanding net pay aids budgeting and financial planning.


      Calculator Definitions

      Before starting to use a net pay calculator, familiarize yourself with some of the key terms used to get the best results.

      •Gross income: This is your total annual salary, such as $110,000.

      •FICA taxes: These are the mandatory Social Security and Medicare deductions taken, equal to 7.65% of your salary.

      •Federal effective tax rate: You may also hear the effective tax rate referred to as the blended tax rate that you pay on your income in the U.S.’s progressive tax system. It’s worth noting that heads of household may have a different withholding than what the calculator shows, as their tax rates can vary.

      •State and local effective tax rate: The calculator’s effective state and local tax rate is the actual percentage of your income that’s paid in state and local taxes. Using this versus the marginal rates can reveal a more accurate picture of your tax burden. The effective rate takes into account the different tax brackets that apply to your income. You can look up your state income tax information on the Tax Foundation’s site.

      •Annual pretax deductions: These paycheck deductions are made before taxes are withheld, reducing your taxable income and saving you about 30 cents on the dollar. This category can include health insurance, FSA or HSA, 401(k), and garnishments.

      •Annual after-tax deductions: These deductions are subtracted from your pay after income, Social Security, and Medicare taxes have been taken out. Examples of after-tax deductions include ROTH accounts, charitable deductions, and disability and life insurance premiums. They are a convenient, automatic way to pay expenses, but they don’t save you money on taxes.

      How to Use the Net Pay Calculator

      Using the net pay calculator is quite simple. First, enter the following information:

      Input Your Gross Income

      Here, you’ll enter your annual total income, without any deductions.

      Type in Your Federal Effective Tax Rate

      As noted briefly above, the U.S. has a progressive tax system, meaning different portions of the money you earn are taxes at varying rates. This is expressed through a system of tax brackets, which change annually and can be found on the Internal Revenue Service (IRS) website. You’ll find that the effective tax rate, or percentage of your income that you pay in federal taxes, tends to be lower than the marginal tax rate, or the highest amount of tax you pay on a portion of your income.

      Input Your State and Local Effective Tax Rate

      As with federal taxes, you will want to research your state and local taxes and add the correct percentage to the net pay calculator. A simple way to find your state effective tax rate is to use the information available on the Tax Foundation’s website, as noted above. It provides a detailed downloadable chart that allows you to check your effective state tax rate.

      Enter Annual Pretax Deductions

      Some deductions are taken from your gross salary and thereby reduce your taxable income. These include such benefits as Traditional 401(k) and SEP IRA contributions; health, vision, and dental insurance premiums; commuter benefits; and FSA and HSA account contributions.

      Remember to deduct the annual figure vs. how much is taken out per pay period.

      Account for Annual After-Tax Deductions

      The calculator will deduct 7.65% for FICA taxes (Social Security and Medicare). These are mandatory deductions. As with federal and state and local taxes, FICA is calculated on the amount of income you have after the pretax deductions are subtracted.

      Once you enter this information, the calculator will tell you your annual net pay. You can divide that figure, depending on how often you are paid, to see how much you receive per pay period as take-home pay.

      Worth noting: While very accurate and useful for scoping out various scenarios, a net pay calculator may not give the precise amount of your take-home pay. There may be deductions that are unique to your situation and not fully accounted for. Check your paystub if you need the exact figure.

      Recommended: Navigating Needs vs Wants

      Benefits of Using a Net Pay Calculator

      Using a net take-home pay calculator can offer several benefits.

      •   Fast calculations: A net pay calculator does the math for you, saving you the trouble of doing the work by hand or punching numbers into your phone’s calculator app.

      •   Understanding your take-home pay: By knowing how much money you actually receive versus your total pay, you can make a budget effectively and stay in control of your finances.

      •   Optimizing your financial planning: When you know your net pay, you can see how, say, putting more money into a 529 account for your child could impact your financial status. You might also project how your take-home pay would increase if you got a raise or took a new, higher-paying job.

      •   Making wiser employee benefit choices: Once you understand your net pay, you might want to adjust your benefits. For example, perhaps you realize you have enough financial breathing room to put more money into your retirement savings. Or if money is tight, you might want to opt for a less costly health insurance plan next year.

      How to Use Net Pay Calculator Data to Your Advantage

      Once you use a net pay calculator, you can leverage your learning in a variety of ways. You can play out different budgeting techniques and financial planning scenarios to see what works best for your finances. For instance, you might take a fresh look at your spending categories and adjust them based on your current habits. Or maybe you realize that putting more money into a pretax retirement plan could help lower your taxable income.

      Other possibilities: You can negotiate for a raise more knowledgeably after evaluating just how much a new salary would change your finances. And you can make more informed decisions about your tax withholding and benefit choices.

      What Is an Effective Federal Tax Rate?

      Your effective federal tax rate, or blended rate, reveals the actual percentage of your total income that you pay toward federal taxes. As mentioned above, the U.S. has a progressive tax system with tax brackets for different levels of income. The tax rate applied to your last dollar of taxable income is called your marginal rate.

      Here are the brackets for individuals in the 2025 tax year:

      •  10% for incomes from $0 to $11,925 ($0 to $23,850 for married couples filing jointly)

      •  12% for incomes of $11,926 to $48,475 ($23,851 to $96,950 for married couples filing jointly)

      •  22% for incomes of $48,476 to $103,350 ($96,951 to $206,700 for married couples filing jointly)

      •  24% for incomes of $103,351 to $197,300 ($206,701 to $394,600 for married couples filing jointly).

      •  32% for incomes of $197,301 to $250,525 ($394,601 to $501,050 for married couples filing jointly).

      •  35% for incomes of $250,526 and higher ($501,051 and higher for married couples filing jointly).

      Your effective tax rate is the weighted average of the different federal tax brackets. For anyone making more than $11,925 a year, their effective tax rate will be lower than their marginal tax rate. For example, for a single filer making $100,000, their effective tax rate is about 16.9%.

      Effective Federal Tax Rates by Income

      Here’s an example of how effective federal tax rates work. Say you earned $100,000 in the 2025 tax year.

      •  Because the 10% (or lowest) tax bracket includes earnings up to $11,925, the first $11,925 of your income is taxed at this rate, equaling $1,192.50.

      •  The next tax bracket covers earnings from $11,926 to $48,475, so that segment of your income is taxed at 12%, or $4,386.

      •  The next bracket runs from $48,476 to $103,350, and it is taxed at a rate of 22%. This segment of your income is taxed $11,335.28 at the federal level.

      Your total federal income tax for the year would be $16,913,78, or an effective tax rate of 16.9%. While your marginal tax rate is 22%, your effective rate is, as you see, significantly lower than that.

      Examples of Calculation Scenarios

      When using a net take-home pay calculator, you can determine how much of your gross annual pay is actually deposited into your bank account every pay period. Here’s an example of how it might work:

      Scenario 1: An individual is single and earns $100,000 per year. Their effective federal tax rate is 16.9%, and their effective state and local taxes are 5%. FICA tax is a standard 7.65%. Their pretax deductions are $3,000, and their after-tax deductions are $5,000.

      Net pay: $75,845

      Scenario 2: An individual is married, filing jointly, with an income of $100,000. Their effective federal tax rate is 11.45%, and their effective state and local income taxes are 3%. FICA tax comes to 7.65%. Their pretax deductions are $1,000, and their after-tax deductions are $2,000.

      Net pay: $89,018

      As you see, even with the same annual income, net pay can look very different, as revealed when using a net pay calculator. Knowing where you stand in terms of your take-home pay can be a valuable tool when tracking your money and avoiding common budgeting mistakes.

      Net Pay Tips

      Here are a few ways you might optimize your net pay.

      •  To positively impact your net pay, adjust your tax withholdings on your W-4 form.

      •  Consider maximizing pretax contributions to retirement accounts like a 401(k) and Flexible Spending Accounts (FSA). This lowers your taxable income and can save you money.

      •  When possible, sign up for other pretax benefits such as health insurance and commuter benefits.

      •  Think carefully about how working overtime or a part-time gig could raise your income and push you into a higher tax bracket, increasing your effective tax rate.

      Recommended: Using an Online Budget Planner

      The Takeaway

      Using a net pay calculator can help you quickly and easily understand how much of your annual salary you actually take home. This can inform your salary negotiations, budgeting, benefit choices, and long-term financial planning as you work to manage your money better.

      Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights—all at no cost.

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      FAQ

      What is the difference between my gross pay and my net pay?

      Your gross pay is the total amount you earn, while your net pay is what you take home after taxes, health insurance, retirement contributions, and other key deductions are subtracted.

      How does the calculator determine my take-home pay after taxes and deductions?

      The net pay calculator can help by doing the math for how much money is subtracted for taxes and other deductions. It shows you your annual take-home pay, which you can then divide by the number of pay periods per year. This reveals how much money you have to work with when spending, saving, and paying down debt.

      How do different tax filing statuses and exemptions affect my net pay?

      Filing status and exemption information, which you typically provide on your W-4 form, determines how much federal income tax is withheld from each paycheck. This in turn impacts your net pay. If you select a status with lower withholding, your take-home pay will increase, while higher withholding will lower your pay.

      Does the calculator account for both federal and state income taxes?

      Yes, the net pay calculator has places to account for both federal and state (as well as local) taxes when determining your net pay.

      Can I use the calculator to see the impact of overtime pay or a bonus on my paycheck?

      Yes, you can use the net pay calculator to play out different scenarios, such as how much overtime or a bonus would alter your take-home pay. (Note that employers are typically obligated to deduct taxes from bonuses, which are considered a form of supplemental pay.)

      Is the estimated net pay from the calculator the exact amount I will receive on my paycheck?

      Typically, a net pay calculator can provide a very good estimate of your take-home pay, but it is not 100% accurate. That is because a calculator may not account for every single deduction or garnishment of your pay. You can check your paystub for precise, detailed insights.

      Learn more about net pay.

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      Oct
      03
      2025

      A Surprisingly Easy Way to Take the Bite Out of Big Bills

      By | | Comments Off on A Surprisingly Easy Way to Take the Bite Out of Big Bills

      This article appeared in SoFi's On the Money newsletter. Not getting it? Sign up here.

      Let’s say you log into your bank account, and zap: You see that your home insurance or tuition has just taken a big chunk off your balance. It’s a legitimate bill, but you’ve been distracted by 10,000 other things and forgot that you’d put it on autopay. Now you’ll have to scramble to make sure you’ve got enough money to cover your other expenses.

      Some bills — property taxes, college tuition, car or home insurance, HOA dues, club fees, or vehicle registrations — are more likely to wreak havoc on your finances because you may only pay them once or twice a year (or at least on a less-than-monthly basis.) For gig and freelance workers, it’s often a big income tax bill that catches you off guard.

      But what if you took the automatic concept from auto-pay and used it to auto-save as well? Just as you might already be putting 10% or 20% of every paycheck straight into your 401(k) or IRA, you can plan in advance, funnelling set amounts of your income into accounts designated for other specific expenses. Smaller chunks can make big bills feel a lot more manageable.

      Chris Colson, a payments expert at the Federal Reserve Bank of Atlanta, calls it good old-fashioned earmarking, just with a digital twist.

      “As programmable payments become more common, an old-school budgeting idea is making a comeback: earmarking,” Colson wrote in a recent blog post. “It’s a simple concept, but when combined with automation, it could be the budgeting upgrade many people and businesses have been waiting for.”

      (Pro tip: Even though monthly payments can be an option for things like car insurance or propane, consider the tradeoffs if you give up pay-in-full discounts.)

      So what would you need to do? The key is to make technology do as much of the work as possible — and keep you disciplined.

      •   Make your list: It’s easy to forget all the bills you have, especially if it’s been 11 months. Comb back through your credit card and bank transactions to make a list of the less-frequent but significant bills you want to save up for.

      •   Do the math: For each bill on your list, divide the amount by the number of months before it’s due again. That’s how much you’ll need to set aside each month. For example, to pay your boat’s annual $1,200 marina slip fee, you’d need to set aside $100 per month. (You can also divide your bill by 52 to get a weekly amount.) And if you know your bill is likely to go up, maybe add in an extra month’s worth.

      •   Set up the rules: Use your bank or budgeting app to separate your paycheck and other income into buckets allocated for each bill. Set up recurring transfers so the fixed dollar amounts you determined in the previous step are automatically deducted each week or month. (With SoFi Savings Vaults, you can set up as many as 20 different customized buckets – and earn a competitive interest rate.)

      •   Consider this method for more than bills: You can use this savings approach for any large, infrequent expenses. Holiday gifts, back-to-school shopping, or anniversary trips. (Think of it as the envelope or cash-stuffing method, but in automated, digital form.)

      Related Reading

      •  Automatic Savings Plan: What it Means, How it Works, Example (Investopedia)

      •  5 Ways To Grow Your Savings With Automatic Transfers (Bankrate)

      •  AI Budgeting Tools: Personal Finance Management (SoFi)

      Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

      The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

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