💰 Get paid to move

Happy December everyone, we can’t believe it’s already the end of the year. Didn’t we just celebrate the dawn of 2023? Well, time flies when you’re Hacking Your Money lol. We’re squeezing in as many money tips as possible in the upcoming weeks, so stay tuned for all of it and more.

This week we’re telling you which cities will pay you to move there, how to start investing, and where to start looking for your lost luggage (or buy someone else’s for cheap!). All this and more as we supercharge your money, one step at a time!

- Milan

IN THE STOCKS

• S&P 500 4,594.63 (0.59%)
• NASDAQ 14,305.03 (0.55%)
• Dow Jones 36,245.50 (0.82%)

*Stock data as of closing on December 1st.

MILAN’S HACK OF THE DAY

Get Paid To Move 🏠

Lots of cities across the globe are offering incentives to move there. An aging population and dwindling workforce have caused countries like Switzerland, Korea, and Canada to pay people to settle down and work within their borders.

Now, America is following suit and giving new citizens money, homes, and other perks in hopes of attracting more people to their neighborhoods. Here are some options for you to consider:

1. Baltimore, Maryland awards selected prospective homebuyers $5,000 in downpayment and closing-cost assistance
2. Bemidji, Minnesota offers remote workers free internet, membership to a coworking space, membership to the Bemidji Area Chamber of Commerce, and free access to community programs and events
3. Claremont, Minnesota is offering single-family residential plots to those looking to build a home
4. Hamilton, Ohio promises to pay off recent graduates’ student loan payments 

Not what you’re looking for? There are plenty more locations looking to pay you for moving there. Where would you like to go?

THE MONEY BREAKDOWN

Exchange-Traded Funds (ETFs)

Exchange-Traded Funds (ETFs) are investment funds traded on stock exchanges, offering investors a way to access a diversified portfolio of assets in a single investment. 

Investors can use ETFs to gain exposure to various asset classes, including stocks, bonds, and commodities. The flexibility, transparency, and tax efficiency of ETFs make them a popular choice for building diversified investment portfolios. They also often have lower costs when compared to traditional mutual funds, making them an attractive option for cost-conscious investors.

Popular indices like the S&P 500, and NASDAQ, or specific sectors like technology or healthcare can be tracked by corresponding ETFs. Investors can buy and sell shares of these ETFs on the stock exchange, allowing them to participate in the performance of the underlying assets.

If you’re looking to invest, ETFs are a great starting point! You can also check out my Beginner’s Guide To The Stock Market here.

IN THE KNOW

How To Prevent An Expensive Divorce 😳

No one wants to face it but sometimes marriages end in divorce. Almost 700,000 divorces were filed in America in 2021 and this number is on the rise, especially as sentiments around marriage grow more lax than a generation ago. But what no one tells you is that divorce can be expensive.

In America, the cost of a divorce depends on many different factors including state laws, whether you have children or own property together, your relationship with your spouse, and so much more. All these factors will decide the number of hours needed to finalize a divorce including lawyers fees, time taken off work, transportation costs, and everything in between. An average divorce in America could cost $1,500 - $5,500 if uncontested, and $40,000 - $140,000 if contested. Yikes.

So what can you do to prevent an expensive divorce? Experts advise that you sign a prenuptial agreement: a contract detailing what will happen to your property, assets, and debt when the marriage eventually ends due to death or divorce. We know what you’re thinking - prenups are just for selfish rich people, right? Wrong. If a couple doesn’t sign a prenup with a clear division of their assets, it’s up to the government to decide who gets what. 

In fact, signing a prenup that will protect your partner while you still care for them makes far more sense than waiting until you hate them to figure out the specifics. Protecting their future well-being is pretty romantic, don’t you think? So if you’re thinking of tying the knot, consider a prenup. And if you’re thinking of getting a divorce and don’t have a prenup, there are plenty of resources you can tap into to make things more affordable. 

Have we changed your perspective about divorce yet? What do you think - prenup or no prenup?

America’s Biggest Delivery Business 📦

If you placed one too many online orders over the past year, Amazon has you to thank for its highest number of deliveries to date. Having surpassed FedEx’s deliveries in 2020 and UPS’s deliveries in 2022, projections by the Wall Street Journal expect Amazon to make more than 5.9 billion deliveries by the end of 2023. 

Once a retail platform that depended on delivery partners like UPS, Amazon is now a thriving shipping business that has set its sights on further expansion. Branching into AI and automation, Amazon is now able to make deliveries faster, and the less time it takes to deliver packages, the more deliveries they are able to make.

Regardless of the economics of online shopping, one delivery service still reigns supreme: the U.S. Postal Service which handles hundreds of millions of packages every year. After all, in a world constantly consumed by the next best thing, there’s nothing like the satisfaction of receiving a package the traditional way - from your good ol’ mailman.

Luggage Limbo - Discount Heaven ✈️

It’s no surprise that U.S. airlines lose 2 million suitcases a year. You’d think that after all the money we spend, they could be a little more efficient with their processes. Good news is that there’s always a way to make some money off these flying mishaps.

Even better news is that this isn’t your only option. Turns out there’s a special place where all lost luggage goes and while it may feel like luggage limbo to some, it could be discount heaven for you. Laid out like a department store with a variety of items to choose from, Unclaimed Baggage in Alabama has become a tourist destination, attracting around 1 million visitors every year. From clothes to electronics to books and even a women’s pole vaulting pole, people lose all sorts of things and Unclaimed Baggage resells them at a heavily discounted rate.

If you’re looking for pieces of a space shuttle, Egyptian artifacts, or a suit of armor, Unclaimed Baggage has it all. The things they find in containers are sometimes so bizarre that they even have a museum that displays them. But the best part has got to be their collection of designer goods and discounted electronics, all of which are in working condition and can be purchased at a great deal.

With the holiday season right around the corner, would Unclaimed Baggage be the perfect place to find your next Christmas present? Let us know by replying to this email!

MONEY MYTH OF THE DAY

"I Can Pay Off Debt by Taking on More Debt"

Thinking you can pay off debt by taking on more debt is like trying to fill up a leaky bucket with more water. It might seem like a quick fix, but the real problem is the holes in the bucket. Taking on new loans or consolidating debt can provide temporary relief, but it doesn't address the root issue: managing spending and finding a sustainable plan to reduce debt over time.

Remember, it's not about adding more water to the leaky bucket. It's about finding ways to fix the underlying issues and creating a plan to gradually reduce and eliminate debt. That way, you can build a more secure financial future without constantly adding to the problem.

Learn how to pay off your debt and more money tips in my Top 15 Hacks Guidebook. Download it for free today www.milansingh.co/hacks

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