Category: Finance

A small loan, like a $50 loan, sometimes is all we need for a quick emergency. For example, we might need $50 to fill up our gas tank or to simply to buy food. But you might be asking yourself, “what apps can give me an instant $50 loan?” If that’s the case then, you have come to the right place.

An instant loan is a short term borrowing designed to help you access cash quickly.

Instant loans are different than payday loans, because instant loans are widely available online, while payday loans are typically only available through physical storefront locations.

Using $50 instant loan apps can be safe. However, you need to take some precautions, including making sure the app is reputable.

Here are some 8 popular $50 instant loan apps:

1. Brigit
2. MoneyLion
3. Earnin
4. Dave
5. Chime
6. Varo
7. PayActiv
8. Branch

It is worth noting that these instant loan apps may offer more than $50. For example, you will find that some $50 loan instant app offers up to $50, while other instant loan apps offers anywhere between $250 to $1000. It is important to carefully review terms and conditions, fees and interest rates before taking out a loan.

What Are Instant Loan Apps?

Before we dig any further on the best $50 instant loan apps, it is better to know the meaning of instant loan apps.

Instant loan apps are mobile applications that allow users to apply for and receive personal loans quickly and easily, typically within a matter of minutes. These apps use technology to automate the loan application process, which reduces the time and paperwork required for traditional loan applications. They also use algorithms to determine the loan amount, interest rate, and loan terms, which are based on the user’s credit score and other financial data.

How to choose the best $50 instant loan apps?

When choosing the best instant loan apps for a $50 loan, consider the following factors:

1. Reputation: Check the app’s ratings and reviews to ensure it has a good reputation for providing fair and transparent loans.
2. Interest Rates: Compare interest rates and fees to ensure you are getting the best deal.
3. Eligibility Criteria: Make sure you meet the app’s eligibility criteria, such as minimum credit score, income, and age requirements.
4. Loan Amount and Repayment Terms: Consider the maximum loan amount you can receive and the repayment terms, including the length of the loan and the due date.
5. Speed: Make sure the app can provide you with the funds you need quickly, within the time frame you need it.
6. Customer Service: Ensure the app has good customer service, including accessible and responsive support, in case you have any questions or need help with your loan.
7. Security: Check if the app has proper security measures in place to protect your personal and financial information.

It’s important to carefully review all the terms and conditions before accepting a loan to ensure that it meets your needs and that you can comfortably repay the loan in full and on time.

Brigit

The first of the best $50 instant loan apps on our list is Brigit. Brigit is a financial technology company that offers an instant loan app. It provides short-term loans to individuals to help cover unexpected expenses or cash flow gaps between paychecks. The app uses a user’s bank transaction data to assess their ability to repay a loan and provides funds in as little as one business day. Brigit’s loans are meant to be a more accessible alternative to payday loans and traditional credit options.

MoneyLion

MoneyLion is a financial wellness platform that offers an instant loan app for $50 as part of its suite of financial products. The app provides personal loans to help users cover unexpected expenses or take advantage of financial opportunities. Loans are offered with competitive interest rates and flexible repayment terms, and funds can be deposited into the user’s bank account as soon as the next business day. MoneyLion also offers other financial tools and services, such as a robo-advisor, credit monitoring, and cashback rewards, aimed at helping users achieve financial wellness.

Earnin

Earnin is a financial technology company that offers an instant loan app. The app provides short-term loans to individuals, allowing them to access their earned wages before their regular payday. Earnin’s app tracks the user’s work hours and allows them to cash out a portion of their earned wages when they need it, with no fees or interest charged. The company’s mission is to provide access to fair and transparent financial services and to help people take control of their financial lives.

Dave

Dave is a financial technology company that also offers a $50 instant loan app. The app provides short-term loans to help users avoid expensive overdraft fees and get through to their next paycheck. Dave also offers other financial tools and services, such as a budgeting app, savings tools, and overdraft protection, aimed at helping users take control of their finances. The company’s mission is to help people avoid financial stress and live better lives.

Chime

Chime is a technology-driven financial services company that offers a mobile banking app. The app provides a spending account, a debit card, and access to a network of fee-free ATMs. Chime also offers features like early direct deposit, automatic savings, and cash back rewards, aimed at helping users manage their money more easily and make the most of their financial resources. Chime’s mission is to use technology to make banking more accessible, affordable, and simple for everyone.

Chime does not currently offer a $50 instant loan app. However, the company does offer a feature called “SpotMe” which is a type of overdraft protection that allows qualifying Chime account holders to overdraft their account up to $100. This feature is intended to help users avoid costly overdraft fees and keep their account in good standing.

Varo

Varo is a digital banking platform that offers an instant loan app as part of its suite of financial products. The app provides personal loans to help users cover unexpected expenses or take advantage of financial opportunities. Loans are offered with competitive interest rates and flexible repayment terms, and funds can be deposited into the user’s bank account as soon as the next business day. Varo also offers other financial tools and services, such as a high-yield savings account, a budgeting app, and cash back rewards, aimed at helping users achieve financial wellness.

PayActiv

PayActiv is a financial technology company that offers an instant loan app. The app provides access to earned wages before payday, allowing users to avoid costly overdraft fees, payday loans, and other financial stressors. PayActiv integrates with an employer’s payroll system to allow employees to access their earned wages as they work, with no fees or interest charged. The company’s mission is to provide access to fair and transparent financial services and to help people take control of their financial lives.

Branch

Branch is a financial technology company that offers an instant loan app for $50. The app provides short-term loans to individuals, helping them cover unexpected expenses or make ends meet until their next paycheck. Branch uses data science and machine learning to assess credit risk and provide loans within minutes, with competitive interest rates and flexible repayment terms. The company’s mission is to provide access to fair and transparent financial services and to help people take control of their financial lives.

How to get approved for the best $50 Instant Loan Apps?

To increase your chances of getting approved for a $50 instant loan from an app, consider the following tips:

1. Meet eligibility criteria: Make sure you meet the app’s minimum age, income, and credit score requirements.
2. Keep your finances organized: Make sure you have a stable source of income and keep your finances organized to demonstrate your ability to repay the loan.
3. Be transparent: Provide accurate and complete information when filling out the loan application.
4. Have a good payment history: A history of on-time payments can help increase your chances of being approved.
5. Check your credit report: Review your credit report to ensure there are no errors and to get an idea of your credit standing.
6. Be honest: Be honest about your financial situation and explain any potential challenges you may have repaying the loan.

Remember, different apps have different loan requirements and criteria for approval, so make sure to carefully review each app’s terms and conditions before applying. It’s also a good idea to shop around and compare multiple instant loan apps to find the best option for your needs.

Is it safe to use instant loan apps?

Using $50 instant loan apps can be safe if you take certain precautions. Here are some tips to help you stay safe:

1. Use reputable apps: Make sure to only use instant loan apps that have a good reputation and are regulated by the appropriate financial authorities.
2. Read the terms and conditions: Carefully review the terms and conditions of the loan, including the interest rate, repayment terms, and any fees or charges, to ensure that you fully understand the loan and can afford to repay it.
3. Protect your personal information: Make sure to only provide personal and financial information over a secure, encrypted connection and be wary of phishing scams or other forms of identity theft.
4. Repay on time: Make sure to repay the loan on time to avoid late fees, interest charges, and potential damage to your credit score.
5. Seek help if you have trouble: If you have trouble repaying the loan, reach out to the app’s customer service or a financial advisor for help.

Remember, using instant loan apps is a form of borrowing and should be approached with caution and responsibility. Make sure to only borrow what you can afford to repay and to understand the full terms and conditions of the loan before accepting it.

In conclusion, a $50 instant loan app is a mobile application that provides borrowers with access to small, short-term loans of $50 or less. These loans are designed to be quick and convenient, allowing borrowers to apply for and receive the loan funds within a matter of minutes or hours. The loans are usually unsecured, meaning they don’t require collateral, and are repaid on the borrower’s next payday or within a few weeks.

Instant loan apps use technology to streamline the loan application process, making it easier for borrowers to access funds when they need them. However, as with any loan, it’s important to understand the terms and conditions of the loan, including the interest rate, repayment terms, and any fees, to ensure that you fully understand the loan and can afford to repay it.

Work With the Right Financial Advisor

You can talk to a financial advisor who can review your finances and help you reach your goals (whether it is making more money, paying off debt, investing, buying a house, planning for retirement, saving, etc). Find one who meets your needs with SmartAsset’s free financial advisor matching service. You answer a few questions and they match you with up to three financial advisors in your area. So, if you want help developing a plan to reach your financial goals, get started now.

Systeme.io has burst onto the digital marketing scene, brandishing a bold claim as an all-in-one, free platform.

Let’s face it, when you hear something like that, your first thought is, “This has got to be too good to be true.”

That was my initial reaction too. A free, do-it-all software that doesn’t suck? Highly doubtful.

But here’s the shocker: Systeme.io isn’t just blowing smoke. It’s a game-changer. As someone who’s navigated the maze of digital marketing tools, I was prepared for disappointment. Yet, Systeme.io left me floored with its capabilities.

Take it from someone who’s been around the block with the likes of ConvertKit, AWeber, and MailChimp. These giants lure you in with free offerings, only to tighten the screws when your audience grows. Then there’s WordPress.org – great for setting up a blog, but it’s like climbing Everest if you’re a newbie.

Systeme.io, on the other hand, is a beast of a different nature. Offering highly effective landing pages and robust sales funnels with professional templates for free? That’s unheard of. It’s like stumbling upon a treasure chest in your backyard.

My first foray into landing page software was with ClickFunnels, an undeniably powerful tool. But once the 14-day trial evaporates, you’re staring down the barrel of a $100 monthly fee. Worth it if you’re a pro, but a gut punch for beginners.

That’s where Systeme.io plays its masterstroke. It lets you dip your toes with up to 2,000 contacts or email subscribers and three sales funnels before asking for a dime.

Yes, you can test it out 100% completely FREE.

And when the time comes to open your wallet, it’s less than $30 a month – an absolute steal for the arsenal of tools you’re getting.

The platform serves a multifaceted purpose, aiming to simplify the digital marketing process. It’s designed for entrepreneurs and businesses seeking an integrated solution for email marketing, sales funnels, website building, and more.

The importance of such a tool lies in its ability to streamline various marketing tasks, which are often scattered across different platforms, into one cohesive system.

How Systeme.io Works

The user interface of Systeme.io? It’s okay, but let’s not sugarcoat it. For a newbie who’s never dabbled in sales funnels or email campaigns, it can feel like being thrown into the deep end. It’s not the sleek, intuitive experience that tech gurus might rave about. But, and this is a big but, Systeme.io doesn’t just leave you hanging.

The saving grace here is their tutorials. These are goldmines for beginners. They walk you through the process, breaking down what could be an overwhelming experience into manageable chunks. So, while the interface might not win any beauty contests, the support system in place is BIG help.

Features of Systeme.io

At the core of Systeme.io are several key features that make it a comprehensive digital marketing solution. These include email marketing capabilities, sales funnel creation tools, a website builder, options for hosting membership sites, and affiliate program management.

Each of these features is designed to work seamlessly with the others, providing a unified experience. For instance, the email marketing service is notably efficient, rivaling established providers like ConvertKit, AWeber, and MailChimp, especially with its free subscription model that remains functional up to a certain point.

Here’s a sample template they offer for their email campaigns:

Here’s a breakdown of all the features Systeme.io offers:

• Email Marketing: Here’s where Systeme.io flexes its muscles. You can segment your audience, whip up personalized campaigns, and dive into analytics. It’s not just sending emails; it’s about sending smart emails. But don’t expect to master it overnight. There’s a learning curve, but it’s worth the climb.
• Sales Funnel Builder: This is where Systeme.io starts to shine. It’s not just about slapping together a few pages; it’s about crafting a customer journey. The drag-and-drop interface is decent, but it’s the strategic aspect that’s the real winner. Newbies might feel a bit lost at sea initially, but once you get the hang of it, it’s smooth sailing.
• Blogging and SEO: Systeme.io’s blogging platform is straightforward. It’s not the Rolls Royce of blogging, but it gets you from A to B. You’ve got your SEO-friendly tools, customizable URLs, and Google Analytics integration. It’s no WordPress, but it’s not trying to be.
• Automation and Workflow: Here’s where Systeme.io tries to simplify the complex. The automation rules are a time-saver, although they’re not the most advanced on the market. It’s like having a Swiss Army knife when sometimes you might need a specialized tool.
• Affiliate Program Management: Running your own affiliate program within Systeme.io is a neat feature. It’s a solid, if not spectacular, way to expand your reach without breaking the bank.

And if here’s a fancy table to help simplify it even more:

Feature	Description
Email Marketing	Advanced segmentation, personalized campaigns, performance tracking
Sales Funnel Builder	Drag-and-drop interface, user journey mapping, lead capture elements
Blogging and SEO	SEO-friendly tools, customizable URLs, Google Analytics integration
Automation and Workflow	Time-saving automation rules, efficient process management
Affiliate Program Management	In-platform affiliate recruitment, performance tracking, payout management

Benefits of Systeme.io

Cost-Effectiveness: Breaking It Down

When we talk about the cost-effectiveness of Systeme.io, we’re looking at a platform that offers a substantial suite of features without the hefty price tag that usually accompanies such versatility.

For starters, Systeme.io’s freemium model is a standout in the digital marketing space (click here to open a free account today). You can manage up to 2,000 contacts and create three sales funnels without spending a penny. This is a significant advantage for entrepreneurs and small businesses where every dollar counts.

To put this into perspective, let’s compare it with some industry counterparts. Platforms like ClickFunnels and Kartra, while offering robust functionalities, start their pricing at around $97 to $99 per month after their trial periods. This can be a steep investment for those just starting out.

In contrast, Systeme.io not only allows you to test the waters for free but also keeps the costs low even when you upgrade. Their paid plans, offering a broader range of features, start at less than $30 a month.

This pricing strategy makes advanced digital marketing tools accessible to a wider audience, breaking down the financial barriers that often hinder small businesses and startups.

All-in-One Platform: A Closer Look

The all-in-one nature of Systeme.io is its hallmark. It consolidates various marketing tools into one cohesive platform. This integration means you can manage email campaigns, build sales funnels, create websites, and even run affiliate programs without having to switch between different software. For many users, this integration simplifies the digital marketing process significantly, allowing for a more streamlined workflow.

However, it’s important to recognize that while Systeme.io covers a broad spectrum of functionalities, it may not offer the same depth as specialized standalone tools in each specific area.

For instance, while its email marketing capabilities are robust, they might not have the advanced features of a dedicated email marketing service.

Similarly, its website builder is competent for basic to intermediate needs, but it might not satisfy users looking for highly advanced web design features.

Ease of Use: A Realistic Perspective

Systeme.io aims to be user-friendly, and for the most part, it achieves this goal. The interface is designed to be intuitive, especially for those who have basic familiarity with digital marketing tools. However, for complete beginners, there can be a learning curve.

The platform offers a range of tutorials and support materials, which are invaluable for new users. I’ve watched (and rewatched) several of these tutorials to lean how to use their software.

These resources are designed to help users navigate through the initial complexity and make the most out of the platform’s features.

Drawbacks of Systeme.io: The Straight Talk

Customization: Not Quite There Yet

Let’s get real about customization in Systeme.io. It’s got a decent selection of templates and the interface won’t make you pull your hair out, but if you’re looking to really dive deep into customization, you might hit a wall.

For those who have grand visions of a highly unique and tailored digital presence, Systeme.io can feel a bit like playing with kid gloves. It’s great for getting you up and running, but for the more ambitious or specific design needs, it’s not quite the creative playground you might be looking for.

Growing Pains: Scaling Up Challenges

Now, onto scalability. Systeme.io is like that compact car that’s perfect for city driving but struggles a bit on the open highway. For small businesses or solo entrepreneurs just starting out, it’s a match made in heaven. But as your business grows and your needs become more complex, Systeme.io might start to feel a bit cramped.

This is especially true for larger businesses or those niche ventures that need more than just the basics. As you scale up, you might find yourself needing more sophisticated tools and features that Systeme.io doesn’t offer.

Plus, when it comes to playing nice with other tools or services you might be using, Systeme.io isn’t always the most cooperative. It works well within its own confines but doesn’t always reach out to others easily.

Systeme.io Pricing Structure

The pricing structure of Systeme.io is one of its most appealing aspects. The platform operates on a freemium model, offering significant functionality without any cost for up to 2,000 contacts or email subscribers and three sales funnels. This approach allows users to thoroughly test and experience the platform before committing financially.

When compared to competitors, Systeme.io’s pricing is highly competitive. For instance, platforms like ClickFunnels offer powerful functionality but at a higher cost, typically starting at around $100 per month after a free trial. This can be a significant investment, especially for new entrepreneurs or small businesses.

In contrast, Systeme.io’s paid plans, which provide access to a broader range of features, are more affordable, starting at less than $30 a month.

Comparative Analysis with Other Tools

To provide a broader perspective, let’s compare Systeme.io with other popular tools in the market:

Feature/System	Systeme.io	ClickFunnels	HubSpot	Kartra
Email Marketing	Advanced segmentation and automation	Basic email functionalities	Comprehensive email tools with CRM integration	Advanced automation and lead scoring
Sales Funnel Builder	Intuitive drag-and-drop builder	Highly customizable funnels	More focused on inbound marketing	Similar to ClickFunnels with added features
Blogging and SEO	Basic but effective SEO tools	Not a primary feature	Advanced SEO and content strategy tools	Limited blogging capabilities
Automation and Workflow	Simple automation rules	Complex automation capabilities	Extensive automation with CRM integration	Advanced automation but steeper learning curve
Affiliate Program Management	Integrated affiliate management	Available but less intuitive	Not a core feature	Robust affiliate management system
Pricing (Starting Plan)	Free plan available	$97/month	$45/month	$99/month

This comparison shows that while Systeme.io offers a comprehensive suite of tools at an affordable price, platforms like HubSpot and Kartra provide more advanced features in certain areas but at a higher cost. ClickFunnels, on the other hand, is more expensive but offers highly customizable funnel-building capabilities.

Is Systeme.io Legit?

User reviews and testimonials play a crucial role in understanding the real-world effectiveness of Systeme.io. Many users have shared success stories, highlighting how the platform has helped them streamline their marketing efforts and grow their businesses.

Upon reviewing their Trustpilot account, you can see the experience with Systeme.io is remarkable. Currently, there are 3,635 reviews with an average rating of 4.9. That is outstanding!

However, it’s also important to consider critiques and common issues raised by users. Some have pointed out the limitations in customization and scalability, as mentioned earlier. These critiques are valuable for potential users to set realistic expectations and for the platform’s developers to identify areas for improvement.

Comparing Systeme.io to Others

I currently have accounts with Systeme.io, Click Funnels, and Kajabi. To show you how they compare here’s a look at 3 different landing pages I’ve created each of them.

Here is a landing page I created with Systeme.io:

In comparison, here’s an older landing page I create with Click Funnels…

And just because I love showing you variety, here’s a landing page created in Kajabi..

When you factor in both Click Funnels and Kajabi only offer free trials (around 14 days) and you have to start paying after that, the Systeme.io funnel becomes THAT more attractive. Here’s a look at some of the templates they offer for free:

Final Verdict on Systeme.io

In essence, while Systeme.io is a fantastic starting point for new online businesses, offering a solid foundation and easy-to-use tools, it’s not the endgame for everyone.

As your business evolves, you might outgrow its capabilities and start looking for something that offers a bit more room to stretch your entrepreneurial legs.

It’s a great launchpad, but for those on a path to rapid growth or with highly specific needs, keep in mind that you might need to eventually graduate to more advanced tools.

How much are your property taxes?

In our county in Maryland, we pay a total of $1.442 per $100 of assessed value.

1.442% doesn’t sound like a lot, but the median home price in my county is around $580,000.

That’s $8,400 a year.

When I received my property tax assessment last year, it included a significant increase in assessed value. We renovated a section of the house, so part of that was justified, but it seemed like the jump was too high.

I decided to contest my property taxes myself and won. The process, which you can read about in the linked article, took several hours spread across several weeks. And I was “lucky” in that I was given a good result at the first stage (just filling out a form), so I accepted it.

If they rejected my claim and required me to plead my case to a live panel, I’m not sure I’d be as comfortable doing that.

Fortunately, there are services out there that will do it for you.

One of those is called Ownwell.

At A Glance

• Ownwell will appeal your property taxes on your behalf
• Monitors for tax exemptions based on your individual property
• No upfront fees – pay only upon successful reduction of property taxes
• Pay 25% or 35% of savings, depending on your state
• Available in California, Florida, Georgia, Illinois, New York, Texas, and Washington. (but expanding all the time so check your state)
• Average savings is $1,148

Who Should Use Ownwell

Homeowners and Real Estate investors who want to ensure they aren’t overpaying their property taxes should consider Ownwell. They will appeal your property taxes for no upfront costs and you pay a percentage of your savings if your appeal is successful. So there is no risk and no leg work for you.

Table of Contents

1. At A Glance
2. Who Should Use Ownwell
3. Who Is Ownwell?
4. In Which States Does Ownwell Operate?
5. When Can I Appeal My Property Taxes?
6. How Does Ownwell Work?
7. Finding Exemptions and Claiming Refunds
8. Automatic Annual Re-enrollment
9. Is Ownwell Legit?
10. Ownwell Fees
11. What are Ownwell Alternatives?
12. Is Ownwell Worth It?
13. FAQs
14. Summary

Who Is Ownwell?

Ownwell is a service that will contest your property tax assessments with your taxing authority so you can pay less in property taxes. They will also find exemptions and other tax savings you may not know about or have overlooked.

Ownwell was founded by Colton Pace and Joseph Noor in 2020. Pace’s background in investing and asset management gave him exposure to the various tools used by real estate investors, and he wanted to bring them to regular homeowners. The result is Ownwell, a service to contest property taxes.

Ownwell doesn’t operate in every state (yet).

In Which States Does Ownwell Operate?

Ownwell isn’t in every state and for some of the states they do operate in, they aren’t in every single county.

As of May 2025, they are in California, Florida, Georgia, Illinois, New York, Texas, and Washington. You have to double check that your county is included (it’s not feasible to list every county here though, California has 58 counties and Texas as 254!).

They are adding counties all the time, so the best way to know is to go to Ownwell and enter your address.

When Can I Appeal My Property Taxes?

The schedule for when you can appeal will depend on your state and, in some cases, the county within that state. They’re all on different schedules.

For example, in Maryland, this process only happens once every three years. In New York, and many other states, it happens every single year!

I asked Ownwell to provide a schedule (and they did) but it’s a little complicated and hard to share on a single screen… also, many dates are county specific and they cover so many counties that it’s unwieldly to list it all here.

The end result is that the simplest thing to do is sign up for Ownwell and then wait for your assessment to arrive. Then, enter in the details and decide whether you should use them to contest your appraisal.

As there’s no cost to sign up, you can use their technology to help you manage the schedule and decide later if you want to use them.

How Does Ownwell Work?

First, go to Ownwell and enter your address.

Since they don’t operate in Maryland, I chose a random property in Humble, TX (a suburb of Houston). They service Harris County.

Go to Ownwell

It may not be worth it for a homeowner to learn the ins and outs of protesting property tax assessments for $473, especially if it’s not a guarantee you’ll get any reduction. But if I owned this home and didn’t want to do it, I’d be perfectly happy hiring someone on a contingency basis (I pay only if they win) – which is how Ownwell works (more on fees later).

If you continue, you’ll be prompted to enter your information. (I’m using a demo account, if you do this yourself, enter your information)

The next few screens confirm information, like whether you purchased this property in the last 18 months and the property owner’s name.

The last page, after you’ve confirmed all the details, authorizes Ownwell to act as your Tax Agent. This lets them contact the taxing authority on your behalf and contest your property taxes.

From here, you can log in and check the progress of your protest.

I believe Texas publishes them in April, and then you have 30 days to protest.

This will vary from state to state and in Texas, you can(and should) do this every single year.

Go to Ownwell

Finding Exemptions and Claiming Refunds

In addition to contesting your assessment this year, they offer a service to determine whether you’re eligible for any tax exemptions. If they find any, they can even make claims on previous years to get a tax refund.

There are a lot of different tax exemptions out there and these are challenging to keep track of. For example, here in Maryland, we have an Agricultural Use Assessment that significantly lowers property taxes on areas where you have agreed to keep to agricultural use. I only knew about it because the previous owner had it.

We don’t grow anything (commercial) on the land, it’s all wooded, but that counts. The only requirement is that we get an arborist to certify an agricultural use plan every few years, and we get a huge discount on the assessed value of the undeveloped land. It has saved us thousands of dollars a year.

Ownwell looks for exemptions like that. And while you could file for these exemptions yourself (usually for free), they do so for the same fee structure.

Then, they will monitor your taxes each year to make sure everything is correct. If, for whatever reason, an exemption is left off, they’ll make sure to fix it.

Automatic Annual Re-enrollment

You must opt out of Ownwell if you don’t wish to use them every year. You automatically re-enroll unless you specifically opt out, which must be done two months before your county’s filing deadline.

You are still only charged if they successfully reduce your assessment though, so all the terms are still the same.

Is Ownwell Legit?

Ownwell is a legitimate company and what they offer is a service that is common in places with high property taxes and annual appraisals. In Texas, which has high property taxes and annual appraisals, there are a lot of companies and lawyers that offer this service.

In doing some research, I found this insightful comment from Reddit (it’s two years old but still accurate):

These companies are very common where I live (in Texas, which has very high property taxes).

They package up a lot of them together and settle with the county appraisal district. Around here they charge 40%-50%. They aren’t a scam to the individual but they certainly are at a different level – one of the largest ones in Houston is run by a lawyer that used to be the county tax appraiser and is now a state senator. His company knows how the game is played and profits from it.

Personally I generally do my own, but it takes a few hours to put together a good protest package and go in front of the appraisal board. I’ve generally won, mainly because I know what I am doing and put in a lot more effort on my individual property than the appraiser (who is doing hundreds of them) does. I kind of enjoyed the last one because I did so much better than the appraiser did before the board. He didn’t have his evidence together, and it was the end of the day and they were in a hurry to complete the docket and ruled in my favor.

If you don’t have time/don’t want to bother/not sure how to protest it’s worth a shot.

As you’ll learn below, Ownwell charges 25% in Texas (making it quite a bit cheaper) and depending on how much they can save, they can also save you several hours of work (and an appearance in front of the appraisal board).

Ownwell Fees

Ownwell operates on a success fee model – you only pay them if they win an appeal and lower your property taxes. They only charge you if your final property tax bill is reduced and they have a signed document from your taxing authority to prove it.

If they aren’t able to lower it, you pay nothing.

In California, New York, and Florida, the success fee is 35%. It is just 25% everywhere else.

For the above example, if Ownwell gets a $473 reduction in property taxes, I would pay them $118.25. I keep $354.75.

How does this fee compare to other companies? You should research this for your own state, as it will vary, but I found a tax firm in Texas that listed their pricing. On a single property, they charged 40% with a $149 minimum. For 2-5 properties, it was 35% with no minimum. Only 6+, it was 30%.

What are Ownwell Alternatives?

The biggest alternative is to call a local law firm that specializes in this same type of work. There are plenty of law firms that offer this. At this time, I’m not aware of a company that operates in multiple states.

The tradeoff with using a local law firm has to do with cost. They are typically not going to be able to work with individual homeowners and still be able to charge a small success fee. They often have minimum fees and will only take your case if they see it as being “worth their time.” In a quick search myself, I found that firms are very up front about this because contesting appraisals is time intensive and they don’t want to waste their time or yours.

As I mentioned in the above section about fees, I found a tax firm that charged 40% fee with a $149 minimum. In Texas, Ownwell charges just 25% with no minimum.

Home Tax Shield is an example of a company that operates in Texas. They charge a $30 annual fee and then a 30% success fee on tax savings. You can do everything online and they also use technology to streamline the process. If you assume they are similar to Ownwell, you’re paying $30 a year plus an extra 500 basis points on your savings.

Alternatively, you can reach out to your real estate agent to see if they can help. This will be dependent on how friendly and available your agent is to this type of help. Some may do it for free, seeing it as a part of their offerings, while others won’t.

Is Ownwell Worth It?

It depends on how much you value your time and how much of a return you expect to get. If I owned a home in which a protest was going to net me $500 and it’s something I have to do every year, I’d more more likely to pay Ownwell a 25-35% success fee to handle it all for me. With four kids and a slew of other responsibilities, the ROI on my time just isn’t there.

Also, the property tax assessment process varies from state to state. In Maryland, we only have to do it once every three years and I had a personal interest in learning the process (also, I was happy after the first round reduction – the work gets considerably more involved after the first round). I realize I’m a weirdo like that, most people don’t care and just want to save money.

The only thing I do know is that you must contest your property tax assessment. You may not win a reduction, but you have to do it. Those increases will compound so you have to keep the increases as little as possible.

If you aren’t going to do it yourself, getting someone else to do it is better than taking the increase.

Go to Ownwell

FAQs

Summary

Ownwell is a company that will appeal your property tax bill on your behalf with no upfront fees. You’ll pay either 25% or 35% (depending on your state) of the savings they can get you. If they are not successful at lowering your property tax bill, then their services are free.

You may have contributed to a Roth IRA and then realized later in the same year that you would exceed the income limit. You recharacterized the Roth IRA contribution as a Traditional IRA contribution and converted it to Roth again before the end of the year. Your IRA custodian sent you two 1099-R forms, one for the recharacterization and one for the conversion. This post shows you how to put them into FreeTaxUSA.

If you had done the recharacterizing and converting in the following year, you would have to split the tax reporting into two years by following Split-Year Backdoor Roth IRA in FreeTaxUSA, Year 1 and Split-Year Backdoor Roth IRA in FreeTaxUSA, Year 2. Now because you caught the problem soon enough before the end of the year, you can handle all of it in the same year by following this guide.

Here’s the example scenario we’ll use in this guide:

You contributed $7,000 to a Roth IRA for 2024 in 2024. You realized that your income would be too high later in 2024. You recharacterized the Roth contribution for 2024 as a Traditional contribution. The IRA custodian moved $7,100 from your Roth IRA to your Traditional IRA because your original $7,000 contribution had some earnings. The value increased again to $7,200 when you converted it to Roth before December 31, 2024. You received two 1099-R forms, one for $7,100 and another for $7,200.

If you didn’t do any of these recharacterizing and converting, please follow our guide for a “clean” backdoor Roth in How to Report Backdoor Roth In FreeTaxUSA (Updated).

If you’re married and both you and your spouse did the same thing, you should follow the steps below once for yourself and again for your spouse.

1099-R for Recharacterization

We handle the 1099-R form for the recharacterization first. This 1099-R form has a code “N” in Box 7.

Find “Retirement Income (1099-R)” under the Income menu.

Click on the “Add a 1099-R” button.

It’s just a regular 1099-R.

The 1099-R form for the recharacterization shows the amount moved from the Roth IRA to the Traditional IRA in Box 1. It’s $7,100 in our example. The taxable amount is 0 in Box 2a and the “Taxable amount not determined” box isn’t checked. The code in Box 7 is “N” and the “IRA/SEP/SIMPLE” box may or may not be checked. It isn’t checked in our sample form.

The recharacterization wasn’t a rollover.

FreeTaxUSA shows some alerts just to double-check. The zero taxable income on the 1099-R is correct. Code “N” in Box 7 is also correct.

You’re done with the 1099-R form for the recharacterization. Click on the “Add a 1099-R” button to add the other 1099-R for the conversion.

1099-R for Conversion

The 1099-R for the conversion has a code “2” in Box 7 if you’re under age 59-1/2 or a code “7” if you’re 59-1/2 or older.

It’s also a regular 1099-R.

Box 1 shows the amount converted to Roth. It’s $7,200 in our example. It’s normal to have the same amount as the taxable amount in Box 2a when Box 2b is checked saying “taxable amount not determined.” Make sure to choose the correct code in Box 7 to match your 1099-R. The “IRA / SEP / SIMPLE” box is checked.

Your refund number drops after you enter this 1099-R. Don’t panic. It’s normal and temporary. The refund number will come up when we finish everything.

It’s not an inherited IRA.

It’s a Roth conversion. 100% of the amount on the 1099-R was converted from a Traditional IRA to a Roth IRA.

You are done with this 1099-R for the conversion. Repeat if you have another 1099-R. If you’re married and both of you converted to Roth, pay attention to whose 1099-R it is when you enter the second one. You’ll have problems if you assign both 1099-R forms to the same person when they belong to each spouse. Click on “Continue” when you have entered all the 1099-R forms.

It asks you about the basis carried over from previous years. If you never contributed to a Traditional IRA in previous years, you can answer “No.” Answering “Yes” and entering a zero on the next page has the same effect as answering “No.” If you have gone back and forth before you found this guide, some of your previous answers may be stuck. Answering “Yes” here will give you a chance to review and correct them. If you have a basis carryover on line 14 of Form 8606 from your previous year’s tax return, answer Yes here and enter it on the next page.

The value in the first box should be zero if you never contributed to a Traditional IRA in previous years. If you had a small amount of earnings posted to your Traditional IRA after the conversion and you didn’t convert the earnings, enter the account’s value from your year-end statement in the second box. The third box should be zero because you recharacterized before the end of the year.

We didn’t take any disaster distribution.

Now continue with all other income items until you are done with income. Your refund meter is still lower than it should be but it will change soon.

Recharacterized Contribution

Now we tell FreeTaxUSA that we contributed to a Roth IRA before we recharacterized the contribution to a Traditional IRA.

Contributed to Roth IRA

Find the IRA Contributions section under the “Deductions / Credits” menu.

Answer “Yes” to the first question. An excess contribution means contributing more than you’re allowed to contribute. We didn’t have that.

Enter your contribution in the second box because you originally contributed to a Roth IRA. Answer “Yes” to “Did you switch or recharacterize.” We didn’t repay any special distribution.

Recharacterized to Traditional

Select “Yes” to confirm you recharacterized a contribution. It opens up additional inputs for an explanation. If you recharacterized 100% of your original contribution, enter it in the first box. It’s $7,000 in our example. We enter $7,100 from our example in the second box, which is the amount that the IRA custodian moved from the Roth IRA to the Traditional IRA when we recharacterized.

We didn’t contribute to a SEP, solo 401k, or SIMPLE plan. Answer “Yes” if you did.

Withdraw means pulling money out of a Traditional IRA back to your checking account. Converting to Roth is not a withdrawal. Answer “No” here.

The value in the first box should be zero if you never contributed to a Traditional IRA in previous years. The value in the second box should also be zero if you converted everything. If you had a small amount of earnings posted to your Traditional IRA after the conversion and you didn’t convert the earnings, enter the account’s value from your year-end statement in the second box. The third box should be zero because you recharacterized before the end of the year.

You see this screen only if your income falls below the income limit that allows a deduction for a Traditional IRA contribution. You don’t see this if your income is above the income limit. Answering Yes will make your contribution deductible but it will also make your Roth conversion taxable, which comes to a wash. It’s less confusing if you answer “No” here and make the entire amount that could be deducted nondeductible.

It tells us we don’t get a deduction because our income was too high or because we chose to make our contribution nondeductible. We know. That’s why we did the Backdoor Roth.

The refund meter should go back up now.

Taxable Income

Let’s look at how these entries show up on our tax return. Click on the three dots on the top right above the IRA Deduction Summary and then click on “Preview Return.”

Look for Lines 4a and 4b in your Form 1040.

It shows the sum of your two 1099-R forms on line 4a and only $200 is taxable on line 4b. The taxable amount is the difference between the amount you converted to Roth and your original contribution.

Form 8606

Go toward the end of the pop-up to find Form 8606. It shows these for our example:

Line #	Amount
1	7,000
3	7,000
5	7,000
13	7,000 *
16	7,200
17	7,000
18	200 *
footnote	* From Worksheet-1-1 in Publication 590 B

There’s also a statement to describe your recharacterization at the end.

Troubleshooting

If you followed the steps in this guide and you are not getting the expected results, here are a few things to check.

The Entire Conversion Is Taxed

If you don’t have a retirement plan at work, you have a higher income limit to take a deduction on your IRA contribution. If you have a retirement plan at work but your income is low enough, you are also eligible for a deduction on your IRA contribution. FreeTaxUSA gives you the option to take a deduction if it sees that your income qualifies.

Taking the deduction makes a corresponding amount of the Roth conversion taxable. Answering “No” in the “Do you want to take your IRA deduction?” page will have you taxed only on the earnings in your Roth conversion.

Self vs Spouse

If you are married, make sure you don’t have the 1099-R and the IRA contribution mixed up between yourself and your spouse. If you inadvertently assigned two 1099-Rs to one person instead of one for you and one for your spouse, the second 1099-R will not match up with an IRA contribution made by a spouse. If you entered a 1099-R for both yourself and your spouse but you only entered one IRA contribution, you will be taxed on one 1099-R.

New Nomination Rules for Demat & Mutual Funds by SEBI allow up to 10 nominees from Sept 2025. Know key changes, forms, deadlines, and investor guidelines.

Investing is not just about growing wealth; it’s also about ensuring it passes smoothly to your loved ones after your lifetime. That’s where nomination comes in.

To simplify and safeguard the nomination process, SEBI has issued a new circular (dated February 16, 2025), with additional operational guidelines shared by KFintech. These new rules are crucial for all mutual fund and demat account holders, and certain changes will take effect from June 1, 2025, and September 1, 2025.

Let’s break this down in simple language with real-life examples.

SEBI’s New Nomination Rules for Demat & Mutual Funds 2025

What Is Nomination and Why Is It Important?

A nomination is a facility that allows you (the investor) to name someone who can claim your investments after your death. Without a nomination, your family may have to go through time-consuming legal procedures.

Example:
Mr. Ramesh, a salaried professional, invested in mutual funds but didn’t nominate anyone. When he passed away unexpectedly, his wife struggled for months to get access to the funds. If Ramesh had nominated her, the process would’ve been much smoother.

What SEBI’s February 2025 Circular Says

No More Freeze for Not Nominating

Earlier, investors had a deadline to either nominate someone or opt-out, failing which their accounts could be frozen. That’s now gone. You can continue investing without fear of your account being frozen.

However, SEBI still advises you to nominate or explicitly opt out for your family’s protection.

What’s Changing from June 1 and September 1, 2025?

KFintech has issued key updates to the nomination process, especially for mutual fund folios. Here’s what’s new:

1. New Nomination Form Format – Effective June 1, 2025

Starting June 1, 2025, a new format of the nomination form must be used. If you’re submitting your nomination on or after June 1, make sure to use the updated form. The opt-out form remains the same. No changes there.

2. Number of Nominees You Can Add

Period	Max Nominees Allowed
Until August 31, 2025	Up to 3 nominees
From September 1, 2025	Up to 10 nominees

What this means:
If you’ve been restricted to adding just 3 nominees, you’ll be happy to know that from September 1, you can nominate up to 10 individuals, giving you more flexibility to distribute your investments.

3. Mandatory Information for Each Nominee

To avoid processing delays or rejections (called NIGO – Not in Good Order), the following details are mandatory for each nominee:

• Full Name
• Relationship with the investor
• Percentage of share
• Address
• Email ID
• Mobile number
• Any one of the following identity details:
  • PAN
  • Driving License Number
  • Last 4 digits of Aadhaar
  • Passport Number

If any of this is missing, your nomination will be rejected.

4. Date of Birth for Minor Nominees

If you’re nominating a minor, you must mention the Date of Birth (DOB) of the nominee. However, naming a guardian is optional, though it’s recommended for better clarity.

Example:
Mrs. Seema nominates her 10-year-old son as one of the nominees. She must mention his date of birth, but she may choose whether or not to mention her brother as the guardian.

5. Witnesses for Thumb Impressions

If you sign the nomination form using a thumb impression (instead of a signature), you must include the:

• Name, address, and signatures of two witnesses

This is done to ensure the legitimacy of the nomination.

6. Who Can Operate Your Account If You’re Incapacitated?

You can authorize any one of your registered nominees (except a minor) to operate your folio or demat account in case you become physically or mentally incapacitated.

You can give this mandate at any time, and it’s not restricted to just when you open your account.

This is a great new feature that helps in unfortunate medical conditions.

7. Mode of Signing the Nomination Form – Based on Holding Type

Mode of Holding	Who Can Sign the Form
Single / First Holder	Only first holder must sign
Joint Holding	All holders must sign
Either or Survivor / Anyone or Survivor	Any one holder can sign

Ensure your signature matches with your records, or else it may be rejected.

8. What Happens After the Investor’s Death?

If the investor passes away:

• The nominees can either:
  • Continue as joint holders among themselves, OR
  • Open separate single folios/accounts in their own name.
• If some nominees don’t claim their share, the unclaimed portion stays with:
  • AMC in case of mutual funds
  • Depository in case of demat accounts

9. No Limit on Nomination Updates

There’s no restriction on how many times you can add/change/remove nominees. You can update nominations as often as you want, and every time you do, the AMC or DP will give you an acknowledgment.

Real-Life Example to Understand Better

Case 1:
Mr. Arvind holds a mutual fund folio in his name and wants to nominate his wife and two children equally. He submits the nomination in July 2025 using the new format, filling all mandatory details, including Aadhaar numbers.

Outcome:
Nomination accepted and acknowledged. Upon his death, the fund house can quickly release the funds to the three nominees.

Case 2:
Ms. Rekha submits a nomination form in September 2025 with 8 nominees, but misses entering the mobile number of two nominees.

Outcome:
The nomination is marked as NIGO and rejected until full details are provided.

Why You Should Act Now

• Avoid Legal Complications: Without nomination, your family may need to get legal heir certificates or go to court.
• Peace of Mind: You know your investments are protected and will go to the right person.
• Flexibility: You can nominate, update, or delete nominees anytime.

Summary Table

Feature	Details
New Nomination Format	From June 1, 2025
Max Nominees Allowed	3 (till Aug 31), 10 (from Sept 1)
Mandatory Nominee Info	Name, % share, contact, identity number
Minor Nominee	DOB mandatory, guardian optional
Incapacitation Mandate	Can authorize any major nominee
Signing Rules	Based on folio holding (Single, Joint, Either)
Witnesses	Needed for thumb impressions
Update Nomination	Unlimited times, with acknowledgment

SPY vs. VOO vs. IVV: a faceoff between three large, popular index funds, all tracking the S&P 500. But what’s the difference if they all track the same index? And how can you decide which is best for you?

Let’s start with the basics.

SPY vs VOO vs IVV: By the Numbers

	SPY	VOO	IVV
Full Name	SPDR S&P 500 ETF Trust	Vanguard S&P 500 ETF	iShares Core S&P 500 ETF
Index Tracked	S&P 500 Index	S&P 500 Index	S&P 500 Index
Assets Under Management*	$403.3 billion	$339.7 billion	$352.1 billion
Average Daily Volume (shares)	10,989,786 (30-day average)	4,089,646 (50 day average)	4,627,769 (30-day average)
Number of Holdings	503	507	507
Expense Ratio	0.0945%	0.03%	0.03%
Dividend Yield*	1.61%	1.56%	1.58%
Issuer	State Street Global Advisors SPDR	Vanguard	iShares / Blackrock

* As of October. 2023

Five-Year Performance

SPY vs VOO vs IVV: Overview

All three follow the same S&P 500 index, which is composed of 500 of the largest publicly traded companies in the US. That means the three funds will be holding essentially the same stocks in the same proportions. The only differences are in the details.

The S&P 500 index and the ETFs that track them are market cap weighted. That means that they give larger companies a heavier weight.

• SPY is the largest S&P 500 index, slightly ahead of the others in total assets under management and daily trading volume compared to the other two combined. It also has the largest expense ratio, 3x higher than VOO and IVV.
• VOO is by a small margin the S&P 500 ETF with the smallest amount of assets under management and the smallest trading volume.
• IVV Is very similar to VOO but slightly larger in assets and trading volume.

All three ETFs have an almost identical exposure as they follow the same index. The only difference is that VOO and IVV contain a few more stocks, as they are authorized to only partially follow the S&P 500 composition while trying to replicate the index, hence the slightly higher number of stocks held.

📈 Learn more: Unlock the basics of building wealth with our step-by-step investing guide for beginners.

SPY vs VOO vs IVV: The Differences

Because they are so similar, it is easy to get confused about which S&P 500 ETF to choose.

The first choice to make is between SPY and VOO/IVV. This is because SPY has a much higher expense ratio, more than 3 times higher. So why is SPY the largest of the three if it costs more to own it?

This is because the expense ratio only tells part of the story about an ETF’s costs. The expense ratio defines the costs you will pay when you own the ETF. However, the spread (the difference between buying and selling price) also affects the actual cost of owning shares in an ETF.

SPY has the most liquidity and the lowest spread, making it the favorite S&P 500 ETF for the largest financial institutions.

If you want to buy and hold, you want the lowest expense ratio possible and will prefer VOO or IVV. But if you intend to trade in and out of this position often enough, you’ll ultimately pay lower fees with SPY.

The choice between VOO and IVV is more difficult. Both have the same expense ratio, and the dividend yield only differs by a microscopic 0.02%.

One factor could be a preference for one issuer over the other. Both Vanguard and Blackrock are large and well-respected institutions.

However, taking a long-term view (20+ years), it seems this difference is not getting greater over time. So it is not very likely to affect the performance of your portfolio in actual practice.

Which Is Best for You?

The first thing to decide is why you are interested in buying an S&P 500 ETF.

There’s very little difference between IVV and VOO. But if you worry about the slight but persistent discount of VOO compared to the other 2 large S&P 500 indexes, you might prefer IVV. A preference for Vanguard vs Blackrock could also decide for one against the other.

No matter which you choose, any of these ETFs will give you diversified exposure to the top 500 publicly listed companies in the US. If you intend to hold for many years, lower fees might make a real difference, especially if you hold the ETF in a retirement account.

If you want to diversify your S&P 500 ETF with other ETFs, you’ll have plenty of options. We’ve already looked at SPY vs QQQ, an SPX fund vs top NASDAQ 100 fund, and VTI vs VOO, a major SPX fund against a fund tracking the CRSP U.S. Total Market Index. Any of these funds will provide broad, inexpensive exposure to the US markets.

February 10, 2023
Posted By: growth-rapidly
Tag:
Banking