It’s time again for my favorite feature here on Dyer News: a look at my top 10 personal finance articles of the month. This month brings us a look at some fun yet frugal activities and hobbies as well as some easy-to-start side hustles. Additionally several authors got back to basics, sharing some essential financial tips everyone should know. Meanwhile some other topics touched on include smartphone insurance, how your rent payment can help your credit, and an idea for structuring CD investments.
As usual, this month’s list includes a couple Dyer News Top 10 mainstays as well as a few first-timers. Without further ado, below is my list of the top 10 personal finance articles published in May of 2018, along with their title, author, and the site they originally appeared on.
Hobbies, Side Hustles, and Frugal Fun
10 Frugal Money Saving Summer Activities — Cynthia, Saving & Simplicity
With Memorial Day behind us, marking the official unofficial start of the summer season, now’s the time to start making plans and thinking of fun ways to enjoy the warm weather. Those who may not have the budget for a big vacation or even a “staycation” this year may be wondering what type of summer fun can be had on the cheap. Whether you have kids out of school or just want to take advantage of the great weather, Cynthia offers some activities you can enjoy all summer long.
47 Cheap Fun Hobbies That Won’t Bore You to Tears — Makenzi Wood, WalletHacks
If you’re looking for fun ways to spend your time beyond the summer season, you may want to consider picking up a hobby. Of course, once again, not every hobby is as affordable as you might hope. Thankfully Makenzi has compiled a list of hobbies that are not only relatively cheap but may even include some positive side effects.
7 Easy-to-Start Side Hustles Ideas You Might Not Have Thought Of — Kyle Burbank, Money@30
These days, in addition to regular hobbies, many people are also turning their spare time into extra cash with side hustles. While this term may evoke visions of Uber and Lyft, there are plenty of other side gig jobs that you may not have considered and that don’t take much to get started. Kyle takes a looks at seven such side hustle options you may even be able to launch this summer.
How to Calculate Your Net Worth and Pin Down Your Financial Health — Brian O’ Connell, TheStreet
When it comes to financial health, it can be difficult to fully assess your situation. Beyond the more obvious signs that present themselves in everyday life, one great way to figure out where you stand is to calculate your net worth. In this piece, Brian dives into the specifics of computing your net worth and what you should take away from your findings.
Got Any Idea How Much Credit Card Debt is Costing You? Most Don’t — Susan Tompor, Detroit Free Press
While most people these days know that credit card debt is expensive, how many truly understand how much they’re losing? Surprisingly a new study found that only one-third of those making less than $30,000 a year actually knew their credit card interest rates. For her piece, Susan looks at more results from the study and offers some tips for not only knowing your credit card interest rate but also potentially lower it.
5 Bad Pieces of Financial Advice You Need to Run From Now — Chonce Maddox, Frugal Rules
Often times in this monthly round-up we feature some great financial advice from various sources. However, while there are plenty of reliable resources to be found on the topic, you may also encounter some truly bad financial advice, whether from friends, family, or online. With that in mind, Chonce highlights five pieces of misguided advice that you should steer clear of.
10 Signs You’re No Longer a Personal Finance Rookie — Paul Michael, WiseBread
Speaking of financial advice, there may come a time when you’ve consumed so much money-related content that you begin to master the principles they teach. From building up an emergency fund to raising your credit, there are many “money milestones” you may achieve as you become more well-versed in personal finance. Paul takes a look at these and other signs that you’re on your way to mastering money.
Personal Finance Tips
Build a CD Ladder for Periodic Cash Infusions — Damn Millennial
As you grow your savings, you may find that you have some extra money just sitting in your bank account. Instead of letting it sit idle, you can actually put that money to work via various investment or savings options. In fact, Damn Millennial offers a plan for what they call a “CD ladder” that will reward you for your savings and help you stave off things like inflation.
Is Smartphone Insurance Worth Buying? — Mandy Walker, Consumer Reports
Where would most of us be without our cell phones? Given how cherished and important smartphones are to many of our daily lives, it’s no wonder that some would want to purchase insurance just in case anything were to happen to their devices. However, Mandy raises the question of whether these types of insurance policies are actually worth the money.
Build Your Credit Score By Having This App Report Your On-Time Rent Payments — Emily Price, Lifehacker
Building credit can sometimes be a catch 22. This is especially true for those who may not have the cash needed for various deposits or secured credit cards, leaving them with few options for proving their creditworthiness. Enter the app Pinch, which as Emily points out, allows users to report their timely rent payments as a way to build their credit history.