Inflation is doing a number on your budget. Things get pricier every day, and you’re always looking for ways to cut back: coupons, sales, packing your lunch brown, and bringing your own coffee to work.
These are all smart tactics, since they are small savings Act Add up. But sometimes the really big savings options are right under our noses.
Some of these money-saving methods are things we’ve never heard of. Others are things we know Should You do, but they’re too overwhelmed to start.
The following strategies can help you keep more of your money each month. Bonus: Someone else does the work for you. Read on – and save big.
1. You haven’t refinanced your mortgage yet
We know, we know – it seems so arduous. Applications. Passbook. Bank records. Find the right lender. I wonder if you will be approved.
No wonder you drag your feet. But doing so means you could hit hundreds, even thousands, each year. Fortunately, a mortgage lender called Better makes the process, well, better.
Of course, you have to make sure that refinancing makes sense for your situation. For example, if you know you may move in two years, the money you save may not be greater than the cost of refinancing.
But for millions of homeowners, refinancing is a sweet deal. Lower monthly payments can help you meet financial goals, such as saving more for retirement, setting up an emergency fund or paying off long-term credit card debt.
Qualified homeowners can save up to $3,000 a year, so what are you waiting for? Take a few seconds and get your personal rates to see how much you can save.
2. You are not protected against expensive repair bills
All the things that make your home livable have a life span – and you have no idea how long they are. That’s why many seek home security protection, such as the one offered by the American First Home Club (AFC).
Depending on the coverage you choose, your home warranty may cover appliances, plumbing systems, electrical, heating, and air conditioning. You can get a quote almost instantly.
Suppose your refrigerator or oven stops working tomorrow. Will you have to finance the repair/replacement because you don’t have the money to pay for it? And even if you Act You have an emergency fund, will this repair/replacement deplete your stock of ready cash – leaving you vulnerable to the next emergency?
Stop worrying about breakdowns and costly repairs! Get a quote in 30 seconds.
3. You are overpaying for your car insurance
You cannot do without car insurance. but what are you can To do without it is to overpay for this basic protection.
Perhaps the thought of comparing shopping for car insurance will make you want to lie with a cold piece of cloth over your eyes. Relax: I’ve got you covered with a free online comparison site called The Zebra.
Within five minutes, the site will shop for your information about 200 providers. The result is that you’ll save up to $440 annually on car insurance.
Yes, $440 each general. every year.
Over the next 10 years, you’re looking forward to an additional $4,400 in your budget. What can this kind of savings do to your bottom line?
Take your current insurance coverage limits to the site – you don’t have to provide a credit card or phone number – and set The Zebra loose to run the numbers. After that, all you have to do is pick the best deal.
Finding a much better price couldn’t be much easier. Compare car insurance for free and save hundreds now.
4. You are making bad investment decisions
As Money Talks News founder Stacey Johnson has pointed out, basic money management isn’t rocket science. It’s something anyone can do if they are willing to do a little research and avoid a few beginner mistakes.
But not everyone is comfortable doing their own financial work. Others do not have time due to work and family obligations. Fortunately, there is plenty of expert help, and thanks to a free matching service called SmartAsset, finding the perfect professional is easier than ever.
There is no shame in asking for help, and it can pay off. According to an independent study, people who work with a financial advisor feel more comfortable about their finances and can end up with about 15% more money to spend in retirement.
Are you ready to hire an investment professional who can help you set and then achieve your financial goals? let’s start.
5. You pay interest on your credit card every month
As of August 2021, consumers in this country have achieved an impressive performance $966.1 billion In revolving debt, according to the Federal Reserve. It’s easy to get into credit card debt (whether it’s out of bad luck, bad habits, or both) and hard to get out of.
One possible solution: debt consolidation with a low-interest personal loan through a company called Credible. Instead of paying two-digit credit card interest to many credit card issuers, you pay a much lower rate to one company.
As of August 2021, the average credit card interest rate in the United States was 14.5%. A low-interest loan that removes securities can save you thousands of dollars in interest. This is the money that you should use to realize your dreams, not fill the pockets of some banker.
It’s free to check your price online. It only takes two minutes out of your day – and the savings can be unreliable.
6. You’re still paying for unwanted subscriptions
Subscribing often makes sense because it can mean lower prices for gym visits, magazines, entertainment, beauty supplies, pet items, and the like. The coronavirus pandemic has pushed this idea into high gear, according to The Washington Post:
“There is a growing trend of ‘power subscribers’ with 10 or more recurring payments, according to budget app Truebill. The app averages 17 subscriptions and typically spends $145 per month, according to an analysis Truebill conducted for the Washington Post last spring during shutdown periods. Truebill users averaged 21 signups, with people trying different entertainment, home workout, and delivery services.”
It can be hard to realize the actual cost because these items hit your credit card at different times. This is where companies like Truebill can help you, by showing you how much you’re spending, helping you find better deals and making it easier to undo things that no longer add value to your life.
Was it with budget leaks? Create a free account now and take control of your subscriptions.
7. You are using a second class credit card
Odds are that the first credit card I got was pretty basic. There are no bonuses, a low spending limit, possibly an annual fee and a high interest rate. After all, you are just getting started.
Do you still have that card? You can do better. A look at Money Talks News rewards credit cards can turn that bare plastic into a reward generation tool.
People want different things from their cards: hotel stays, airline miles, and extra savings on frequently purchased items. All of these things are possible if you qualify, along with some perks you might never have imagined. Things like extended warranty protection, hundreds of dollars in cash back rewards, mobile insurance, balance transfers and 0% APR for the first year plus.
Get the most out of every purchase by comparing and choosing among the best reward credit cards.
8. You don’t stay informed
It pays to read expert sources to ensure you are up to date with the latest technology to earn more, spend less and invest wisely.
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