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Wallet Hacks
wallethacks
wallethacks@wallethacks.com
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Welcome!

My name is Jim Wang and I'm the founder of Best Wallet Hacks, a personal finance blog I started in September 2015.

First, a little about who I am and what I'm about. If you want the quick version, I am in my thirties, have a lovely family, and graduated college with a degree in computer science. Before Wallet Hacks, I wrote about personal finance for over ten years on another popular personal blog before a change in ownership.

I think financial systems were built to enrich a select few on the backs of the many… but I'm also not a socialist. I think we all choose how to spend our 24 hours each day and some people are better at it because they've figured out the game. I've figured some of it out and I want to share some of it with you.

That's me in 30 seconds, please tell me about you.

Next, let's talk about the blog. Wallet Hacks contains unconventional strategies to get ahead financially and in life. If you want to be average, conventional results will get you there. You only get ahead when you challenge your assumptions, discard the ones that fail, and keep the ones that propel you towards your goals.

Contact Info
wallethacks@wallethacks.com
Best Wallet Hacks P.O. Box 323 Fulton, MD 20759
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216 Posts
Rockey Money Review: Is Rocket Money Safe?
Learn More About Rocket Money How Does Rocket Money Work? You can follow these steps to join Rocket Money and use it to improve your finances: Rocket Money Pricing Two different membership plan options are available: Lite and Premium. Learn More About Rocket Money Rocket Money Features Account Syncing Rocket Money links your banking, credit card, and investment accounts through Plaid. Rocket Money can also try to save money on these expenses: Car insurance Bank overdraft fees Bill payment late fees Budgeting... more
Rockey Money Review: Is Rocket Money Safe?
What Is Life Insurance and How Does it Work?

Not enough Americans who need life insurance have it. Why is that? While most people would tell you that they’re familiar with the concept of life insurance, I don’t think that many fully understand how it works or why it’s so important. If they did, more than 40% of the population would have enough life insurance coverage.

So, what is life insurance? What are the various types of life insurance you can buy? Do you need life insurance? And if so, what kind should you get? 

I’ll provide

... more
What Is Life Insurance and How Does it Work?
What is TPG Products SBTPG LLC & Civista Bank?
Many companies, like TurboTax and TaxSlayer, used Santa Barbara Tax Products Group to process returns and refunds. Who is Santa Barbara Tax Products Group? Santa Barbara Tax Products Group is a tax services company that is owned by Green Dot Company. Santa Barbara TPG was founded in 1991 and they provide tax-related financial products like advances on tax refunds, debit cards, etc. What is the TPG Products Deposit? If you worked with a tax preparation company, like a TurboTax or TaxSlayer, and you asked for... more
What is TPG Products SBTPG LLC & Civista Bank?
First Commonwealth Bank – $200 Checking & Savings Bonus
First Commonwealth Bank is a community bank with 129 domestic locations in two states that offers a nice little bonus on their checking and savings accounts. First Commonwealth Bank is the result of a merger of several community banks in western Pennsylvania and, as with every bank listed on the blog, they are FDIC-insured since 1880. They are publicly traded under the ticker FCF so you can even assess the financial strength of the bank if you so choose. Today we're going to talk about how you can take advantage... more
First Commonwealth Bank – $200 Checking & Savings Bonus
Best Credit Cards for FICO Credit Scores Between 500 – 599 

If your FICO credit score is under 600, trying to borrow money can feel like a hopeless situation. After all, a low credit score can affect your ability to obtain a standard credit card, car loan, or mortgage.

It doesn’t make those things unattainable; however, it will limit your options when it comes to the type of credit card or loan you may be trying to get. The higher your credit score, the better the rates and rewards will be.

The good news is that there are credit cards available even

... more
Best Credit Cards for FICO Credit Scores Between 500 – 599 
How to Buy OpenAI Stock: Can You Invest in ChatGPT?
As more companies adopt OpenAI's various products, the increased revenue will appeal to investors searching for profitable companies. OpenAI is currently a private company that hasn't announced an initial public offering to become a publicly-traded company. Microsoft Buying Microsoft stock is the most direct way to invest in OpenAI. The tech giant has been working with OpenAI since 2016 and recently announced a long-term partnership, along with a $10 billion investment in January 2023. Pre-IPO Investing OpenAI... more
How to Buy OpenAI Stock: Can You Invest in ChatGPT?
Are State Stimulus Checks Taxable?
The IRS issued a statement in early February that will help answer your question. In some states, they are considered a refund of state taxes paid and excluded from income for federal tax purposes unless you received a tax benefit in the year the taxes were deducted. Most payments are not going to be taxed at the federal level. Minnesota Frontline Worker Pay residents of Minnesota may have noticed their state not listed on other list. Over 1 million frontline workers received an emergency payment of $487.45.... more
Are State Stimulus Checks Taxable?
Best Crypto Sign-Up Bonuses and Promotions
Many cryptocurrency exchanges offer sign-up bonuses to draw potential customers. You can receive free Bitcoin or funds you can use to purchase your preferred altcoin. The terms and conditions vary, from the bonus amounts to the qualifying criteria. The more valuable promotions may allow you to receive up to $500 or more, in line with many stock brokerage bonuses. New users will receive a $10 account bonus. If you live outside the USA, you may be eligible for $100 in trading credits. U.S. residents (excluding... more
Best Crypto Sign-Up Bonuses and Promotions
Spruce Money Review 2023: Is it Worth it?
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Spruce Money Review 2023: Is it Worth it?
Cash Sorting: What Banks Don’t Want You To Do
The industry term is ‘cash sorting,’ when people realize they’re earning nothing on their cash and move them into higher yielding assets. Charles Schwab’s default cash sweep pays an abysmal 0.45% APY as of the end of February 2023. The best high yield savings accounts are, as of March 2023, over 4.00% APy. But if you are getting 4.05%APY. If you’m getting 3.25% APJ, you should change banks.
Cash Sorting: What Banks Don’t Want You To Do
The Best Credit Score Apps for Monitoring Your Credit
Credit score apps make it easy to keep track of your credit from your smartphone or tablet. Some of the apps allow you to check your credit score for free, while others charge a fee. The credit score apps featured here have different features and benefits to help you monitor and improve your credit. We’d like to see a free plan that includes FICO scores and reports only. The myFICO credit score app was created by Fair Isaac Corporation.
The Best Credit Score Apps for Monitoring Your Credit
What is Plaid and Is it Safe?
Plaid is a technology service that helps you securely connect your bank accounts with finance-related apps. Over 7,000 companies and fintechs use Plaid, so the chances are high that you will inevitably use this service to link to your banking account. Plaid has only read-only access to your linked financial accounts. If a data breach occurs, the information that Plaid collects should be safe. If you don’t want a third party.
What is Plaid and Is it Safe?
Golden Hours: Winning Key Transition Points in Money & Life
The first step is to watch a 30-minute video by Ray Dalio: The golden hours are those time periods when we transition from periods of growth to periods of contraction and vice versa. When you think a recession is coming, it’s time to play financial defense. If you have 6 months in an emergency fund, you may want to bump it to 9 or 12. Just in case you lose your job, you want that cushion to be extra padded. It’ll only be for a short time.
Golden Hours: Winning Key Transition Points in Money & Life
How to Lower Your Credit Card Interest Rate
With credit card interest rates on the rise, you may be wondering how to lower your credit card interest rate, or if it's even a possibility. Negotiate a Lower Interest Rate on Your Credit Card You might be able to get a lower interest rate on your credit card by calling your credit card company and asking. More specifically, what is your credit score, and what other offers have you found that guarantee you a lower interest rate? A good credit score and in-hand offers from other credit card companies will put... more
How to Lower Your Credit Card Interest Rate
What Is a 1031 Exchange?
If you're a real estate investor or plan to be, you need to be familiar with a 1031 exchange, which is a strategy that enables you to sell one property in exchange for another without incurring taxes in the process. What Is a 1031 Exchange? In a nutshell, a 1031 exchange is a transaction in which you swap one property for another, enabling you to defer capital gains - and the taxes they bring - to a later date. Build-to-Suit Exchange A built-to-suit exchange involves a newly constructed property but can include... more
What Is a 1031 Exchange?
Are There 6% CD Rates Today? The Best CD Rates Right Now

It wasn’t that long ago when even the best CD rates paid next to nothing due to record-low interest rates.

Well, times have changed, and short-term Certificates of Deposit (CDs) are once again offering decent returns for conservative and short-term investors.

But how high have rates risen?

Is it possible to earn 6% on a CD today?

For example, you can easily earn 3% APY or higher in a high-yield savings account, and inflation-linked bonds pay

... more
Are There 6% CD Rates Today? The Best CD Rates Right Now
Tastytrade Promotions: up to $2,000 for New Accounts

If you are an active trader, especially if you are into options trading, Tastytrade is one of the best platforms for doing so.

They are designed for active traders so the emphasis is on features that you’ll need.

This includes an emphasis on speed and tools for the active trader, like quick trades, quick trade adjustments, data, and more.

Also, the pricing is very competitive. No commissions on stocks and ETFs, $1 per contract opening commissions ($10 max) and $0 on closing for options

... more
Tastytrade Promotions: up to $2,000 for New Accounts
Why does the stock market always seems to goes up?
If you want to build wealth, one of the best ways is to invest in the stock market. In every 20 year rolling period, the stock market always has a positive return. Our intuition might tell us that a growing GDP means the stock market will grow, but that's not necessarily true. So while the economy likely contributes, it's not the reason stocks go up each year. How many Americans actually own stock? 58%. And it was actually a higher percentage in the past. There is a bit of a self-selection bias with companies... more
Why does the stock market always seems to goes up?
Mobile Check Deposit Limits at Major Banks

Depositing checks via your mobile device can be a convenient way to get money in the bank quickly. However, mobile check deposit limits can vary depending on where you bank. 

If you like using mobile deposit or are interested in learning more about how it works, you’ve come to the right place.

What Is Mobile Check Deposit?

Mobile check deposit allows you to deposit checks directly into your bank account using any mobile device. All banks differ,

... more
Mobile Check Deposit Limits at Major Banks
What Is a Covered Call? Understanding the Risks Involved
If you hold a stock worth $40, and the call option has a strike price of $50, you will earn $10 per share if the buyer executes the option - plus the premium paid for the option. Essentially, selling a call option on an investment position you hold effectively transfers control to the buyer of that option while the option is in force. The potential loss on a covert call is 100% In the unlikely event that the value of the underlying security goes to zero while the option contract is in force, the original owner... more
What Is a Covered Call? Understanding the Risks Involved
Motley Fool Alternatives: 5 Stock-Picking Services to Consider

Many investors rely on stock-picking services to help them choose the right investments for their portfolios, and The Motley Fool is one of the investment industry’s most popular stock-picking platforms.

The company was founded in 1993 by brothers Tom and David Gardner, who remain very active within the organization. But while the Motley Fool boasts over 1 million premium members, there are several other stock-picking services you can choose from.

In this article, I’ll give you a brief

... more
Motley Fool Alternatives: 5 Stock-Picking Services to Consider
Do You Have a Treasure Map?

One of my favorite movies of all time is The Goonies.

And one of my favorite moments is when Mikey finds One-Eye Willy’s treasure map (really, it’s when Chunk drops the frame) and the Goonies go on their quest to find his treasure.

We love treasure maps.

And we have one too – it’s a map of our treasure.

We have two Master documents that outline our finances – Net Worth Spreadsheet and the Treasure Map.

The Net Worth Spreadsheet is a Microsoft Excel

... more
Do You Have a Treasure Map?
What Happened to Personal Capital?
In February 2023, Personal Capital was rebranded and pulled into the Empower Retirement brand. For several years, Personal Capital was re-branded as "Personal Capital, an Empower Company" but the Personal Capital logo and name was prominent. Empower's plan is to simply rebrand the name and logo to fall under the Empower umbrella. We may even see new ones as they will now operate as a single entity and you get the full resources of Empower. We'll be taking the next step: on or around February 16, 2023, Personal... more
What Happened to Personal Capital?
25 Easy Jobs That Pay Well in 2023
As a realtor, you can also choose your work hours and whom you work with. Administrative assistants are often required to: Manage the boss's calendar Schedule, cancel, and rearrange appointments Complete tasks and errands Do data entry tasks Order supplies You'll likely require a good working knowledge of office programs such as Microsoft or Quickbooks to work as an administrative assistant, and you must be organized and efficient. House Cleaner Average pay: $15.71 per hour Education requirements: None Do you... more
25 Easy Jobs That Pay Well in 2023
Personal Capital Cash Review 2023

It’s become very popular for fintech companies to offer a way for customers to earn a higher rate of interest on their cash deposits.

Personal Capital, best known for their tools, also has a wealth management advisory business where offering a higher interest rate makes sense.

The product is called Personal Capital Cash and it’s available to Personal Capital users even if they aren’t using the wealth management services.

The current interest rate is 4.10% APY – but is it worth

... more
Personal Capital Cash Review 2023
14 Best Delivery Job Apps for Making Extra Money
The Best Delivery Job Apps This list of the best delivery job apps will let you know which states and cities you can use the app in, what requirements are needed for deliverers, and how much money you might expect to make. DoorDash Expected pay: DoorDash doesn't publish pay rates; however, the job offers plenty of flexibility, and there are ways you can increase your income as a delivery driver. Caviar Expected pay: $15 to $25 per hour, possibly more with tips What we like: Delivery from upscale restaurants... more
14 Best Delivery Job Apps for Making Extra Money
How to Get a Tax Extension Online and Avoid Late Filing Penalties
This year’s federal tax deadline is Tuesday, April 18, 2023. If you cannot get your tax return together before this date, you can file a tax extension request to avoid late filing penalties. The tax extension process is relatively simple, although there are a few things to know in order to avoid tax penalties and interest. The IRS maintains a list of disaster-related tax relief.
How to Get a Tax Extension Online and Avoid Late Filing Penalties
When You Should NOT Contribute to a Bad 401(k)
A 401(k) is one of the best ways you can save for your retirement. You can contribute to them and deduct your contributions, thus deferring taxes. You watch them grow tax-free, regardless of what you do with your investments. Add to that a potential company match, which is free money, and it's a perfect retirement vehicle. The Secure Act 2.0 made it so that you have to opt out of a 401 (k) plans. A 401 (K) plans will not be automatic enrollment.
When You Should NOT Contribute to a Bad 401(k)
How to Get Free Stuff from Amazon
7 Ways to Get Free Stuff Directly From Amazon Check out these ideas if you're searching for free stuff from Amazon. Get a Free 30-Day Trial of Amazon Prime Amazon offers Amazon Prime with a free 30-day trial to new customers. Get Invited to Amazon Vine Amazon Vine is a program in which Amazon's top reviewers receive free products for the purpose of reviewing those new or pre-sale products. Get a Chase Amazon Rewards Card The Chase Amazon Rewards credit card will give you 5% cash back on all Amazon purchases... more
How to Get Free Stuff from Amazon
50 Fun Birthday Ideas for Kids, Teens, and Adults
Ready? Let's get started! Fun Birthday Party Themes Below is a list of 10 birthday party themes. Hawaiian A Hawaiian-themed party always works, whether you're planning an outdoor summer gala or an indoor winter party. Fun Birthday Party Activities Party guests love to have fun, so you'll need to plan a few fun birthday party activities to keep them entertained. Spa Activities Spa activities are an excellent choice for that teen party or mom's night out party. Pool Party If you live in a home with a pool, as... more
50 Fun Birthday Ideas for Kids, Teens, and Adults
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