Small business owners are often responsible for every component of their business, including content creation. Many build audiences by posting on social media and writing newsletters, for example. It’s a lot of work to do alone.

“The volume of content that people are creating and pushing out into the world today is insane,” says Angelique Rewers, CEO of small business consulting firm BoldHaus. That’s why many solopreneurs will find ways to cut costs and time, like buying customizable graphic templates for their various material instead of hiring a graphic designer or trying to build the graphics themselves.

“I utilize those kinds of services anytime I need to build something quickly,” says Nicaila Okome, host of the “Side Hustle Pro” podcast.

If you have a knack for graphic design and are keen to build a side hustle that can provide some passive income, here’s how to dive in.

You can create templates for a variety of platforms, “like Instagram, social media, websites, e-books, e-learning courses,” says Rewers, or for blogs, LinkedIn posts — even for physical products.

Some designers create packaging templates customers can print out and use. You can make templates for people launching their “own line of skincare,” for example, says Rewers.

Many creators use Canva to design the templates, as the site lets you send each buyer a unique link with a set which they can then customize for their needs.

Do some research on sites like Canva, Etsy and Creative Market to see what kinds of templates people sell, how they sell them — individually or in packages, for example — and how much they sell them for.

One social media set with 20 templates goes for $5.67 on Etsy, for example. Another set with 120 Instagram templates goes for $165 on Creative Market.

When you’re ready to start selling, keep in mind that each site has its own fees and stipulations.

Etsy charges 20 cents for every item listed on its site, for example, as well as a 6.5% fee per sale based on the price of your item. Creative Market charges a 50% fee on each sale. On Canva, designers’ work must be registered and accepted by the site. Designers then earn royalties every time their design is used.

However you decide to dive in, know demand for these types of templates is “definitely going to grow,” says Okome.

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The Mega Millions jackpot has climbed to $1.15 billion ahead of Friday’s drawing, making it the fifth-largest prize in the game’s history.

But how much you would actually take home could be less than half that, depending both on your choice of payout and how much you would owe in federal and state taxes.

Everyone owes federal taxes on lottery winnings. While an automatic 24% is withheld upfront, you would almost certainly owe a total of 37% when filing your 2024 tax return, as winning a billion dollars would put you in the top tax bracket.

State taxes on lottery winnings in the U.S. generally range from 3% to 6%, with New York imposing the highest rate at 10.9%. However, eight states don’t tax lottery winnings at all:

• California
• Florida
• New Hampshire
• South Dakota
• Tennessee
• Texas
• Washington
• Wyoming

If you live in any of these states, you will take home the maximum payout. That works out to $325,184,812 as a cash lump sum, or a 30-year annuity totaling $725,754,360, according to usamega.com.

While the cash payout is much less than the annuity, winners usually take the lump sum since they get more money right away.

Compared with the taxes you might pay in the state of New York, that’s a difference of $125,349,990 for the annuity and $56,254,900 for the cash lump sum.

Where you buy the ticket also matters, as a winning ticket purchased out of state could be subject to that state’s taxes. In most cases, your home state will require you to report out-of-state winnings but will usually offer you a credit or deduction for taxes paid to the other state.

State lottery tax laws vary, so if you win a lottery prize in a state other than your own, consult a tax professional. They can also help you determine the best payout option based on your financial goals.

The next Mega Millions drawing is Friday, December 27, 2024, at 11 p.m. ET.

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Even with high mortgage rates discouraging buyers, home prices climbed in most major U.S. cities in 2024.

In the 50 largest U.S. cities, median home prices are up 5.8% through November, compared with all of 2023, according to Redfin data shared with CNBC Make It.

Anaheim, California, saw the most growth, with home prices up 12.5%. Like other fast-growing markets, it’s close to a major city — Los Angeles — where expensive homes are pushing buyers into surrounding areas. Similar trends can be seen in other metro areas near major cities, such as Newark and Nassau County near New York.

Here are the 15 metro areas with the fastest home price growth so far in 2024, according to Redfin:

1. Anaheim, California: 12.5%
2. Newark, New Jersey: 11.3%
3. New Brunswick, New Jersey: 10.8%
4. Nassau County, New York: 9.9%
5. Providence, Rhode Island: 9.8%
6. West Palm Beach, Florida: 8.6%
7. Chicago: 8.6%
8. Detroit: 8.5%
9. San Jose, California: 8.5%
10. Fort Lauderdale, Florida: 8.3%
11. Milwaukee, Wisconsin: 8.1%
12. Seattle: 8.1%
13. Miami: 7.9%
14. Cleveland: 7.5%
15. Warren, Michigan: 7.5%

Anaheim’s housing prices have steadily risen in recent years due to a persistent shortage of homes, with a growing population expected to further strain availability over time. Developers have also been building homes for above-moderate-income families, widening the gap and leaving many residents without affordable options, according to local outlet Voice of OC.

Limited housing is also driving up prices in the Northeast, particularly in Newark, New Brunswick and Nassau County near New York City. Remote work and high living costs are encouraging buyers to seek more affordable, commuter-friendly suburbs.

While home prices are rising in most major cities, San Antonio and Austin, Texas, stand out as exceptions, with prices remaining relatively flat. In contrast, Rust Belt cities like Milwaukee, Detroit and Cleveland — long known for their affordability — are seeing increased demand as buyers look for lower-cost alternatives outside more expensive markets.

The bottom line: Even with 30-year fixed mortgage rates hovering between 6% and 7% throughout much of 2024, demand — especially from wealthier buyers — has outpaced limited housing supply, pushing prices higher despite slower sales. This trend is especially pronounced in large cities, home to many of the nation’s wealthiest residents.

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As the end of the year approaches, everyone’s minds are on the same things: family, togetherness, taxes, peace on Earth and resolutions for the new year.

Wait, how did taxes get in there?

No one wants to think about taxes at the end of the year, but remember: Even though you don’t have to file until April, your taxes are calculated based on what you did between Jan. 1 and Dec. 31 of this year. So if you want to make any moves to trim your bill, you have until next Tuesday to do it.

There are plenty of steps you can take now to make life a little easier come tax time. And they’re not just for the sort of people who have to make sizeable charitable contributions to offset their millions in income.

Here are three popular moves you shouldn’t overlook, regardless of your income level.

You have until Dec. 31 to make 2024 contributions to a workplace retirement account, such as a 401(k). (If you have an individual retirement account, don’t sweat it — you can contribute retroactively up until April 15.)

Money you contribute to traditional (i.e. not Roth) plans is shielded from income tax in the year you make the contribution. That means you can subtract any money you put in between now and the end of the year from your 2024 income. This year, you can stash up to $23,000 in a 401(k), plus an additional $7,500 if you’re 50 or older.

A wide variety of investments have done well this year, and if you sell any that you own in a taxable account — such as a brokerage account — you’ll owe capital gains tax on your profit.

But maybe you had some losers, too. If you sell an investment at a loss, the IRS allows you to use that loss to offset gains and income in a strategy known as tax-loss harvesting.

The rules can get a little tricky, so it pays to talk to a professional. But in general, you start by using losses to offset “like” gains (anything you’ve held for less than a year is a short-term gain or loss; anything else is long-term). After that, excess losses can be used to offset the opposite kind of gain.

Then, if your losses still exceed your gains, you can use up to $3,000 of your net loss to negate ordinary taxable income. Any additional negative money you have left can be rolled over into the following tax year.

It’s a sound strategy if you have a specific gain you want to offset, says Robert Dietz, national director of tax research at Bernstein Private Wealth Management. But don’t sell a lagging investment just to get the tax break.

“The key message is you shouldn’t just be tax-loss harvesting to tax-loss harvest,” he says. “Unless I have a need for that loss, either this year or in the very near future, you’re really not gaining any immediate benefit, and in fact, I’m kind of limiting my options going forward.”

If you’re already planning to make some major purchases around this time of year, don’t overlook tax credits associated with certain items, such as a new car or home renovation.

If you make energy efficient home improvements, for example, you can qualify for a tax credit of up to 30% of qualified expenses, including home energy audits, exterior doors, windows and skylights, and various types of HVAC equipment. Certain monetary limits apply to different types of expenses.

Or, say you’re one of those people who surprises their spouse with a car on Christmas — big bow on it in the driveway and everything. Remember, there’s a tax credit for buying a qualified electric vehicle — up to $7,500 for new EVs and $4,000 for used ones.

But as is the case with tax-loss harvesting, you shouldn’t go out of your way to buy something just to claim a credit on your taxes, says Ryan Losi, a certified public accountant and executive vice president with Piascik.

“Buy something because you wanted to buy it anyway, and the credit makes it a better deal,” he says. “I’m not going to do a repair or an install just because there is a credit. That’s not a very economical way to look at things. But if someone would still want to do it regardless? Great.”

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Tess Waresmith had to learn about investing the way most people do — through trial and error.

The 36-year-old founder of Wealth with Tess began investing in her mid-20s and made a mistake right off the bat. Unsure of what to do with her investments, she trusted a financial advisor who charged her high fees and saddled her with an underperforming, overly complex portfolio.

It took some self-education to realize she could do better on her own, and once she took control of her investments, things flourished. Waresmith’s portfolio currently tops $1 million, with the majority of assets spread among real estate, stocks and crypto.

For anyone looking to replicate her investing success, Waresmith suggests starting simple before slowly branching out into new arenas.

“My No. 1 investing philosophy is learn as much as you can about anything you’re interested in and diversify,” she says.

Here’s what she means.

Waresmith began by investing in index mutual funds and exchange-traded funds, which still make up the bulk of her stock portfolio.

Index funds are a favorite of investing pros for two reasons.

First, they’re cheap. Because these funds merely aim to track the performance of a given market index, they don’t need to employ a high-priced manager to run the portfolio. That means investors pay very little — in some cases 0.03% of assets or lower — in annual fees.

Plus, for new investors, they’re an easy way to gain access to a large swath of the stock market. Buying a so-called “total market” fund, for instance, gives you exposure to 95% of the U.S. stock market.  

The case for broad diversification is simple. By owning a large variety of assets, you mitigate the risk that a downturn in any single one of them could derail your overall portfolio.

“Index funds are a great way to get started and to understand the basics of the stock market and to get your money invested in a really diversified, low-fee way,” says Waresmith. “Once you’ve done that, I think it’s a great jumping off point to continue to learn.”

Much of Waresmith’s outside investing is in real estate, but you don’t need to begin buying property to broaden your horizons and diversify your portfolio beyond the basics of index funds.

“If you have a good portfolio and you want to take a little bit of money and learn, there’s so much power in knowledge,” Waresmith says. “I’ve never discouraged someone from exploring other opportunities outside index fund investing. You just got to know the risks.”

The major risk is that some investments — particularly speculative ones, such as cryptocurrency — have the chance of producing harshly negative returns. That means you’d be wise to allocate no more than you’re willing to lose on more experimental portfolio holdings.

“Most of my investments are in index funds, but I do have a small portion in crypto, and I do buy some single stocks or market-specific ETFs,” Waresmith says. “I’m interested in women’s health ETFs or cannabis ETFs, and so I’ll invest a smaller portion in those.”

The more you educate yourself about the workings of different corners of the market you’re interested in, she says, the better. Just make sure you have a solid foundation first.

Expanding into riskier investments “is not something I would necessarily suggest to someone just starting out,” she says.

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