Check out our best tips to help your wallet
If you’ve recently started working from home, your commute is now a thing of the past. What’s not to love? Fewer hours on the road means more hours in the comfort of your own home. The problem is, if you’re like the average American, you’re paying an...
In 2018, global tourism hit a record high as 1.4 billion people not only went on vacation but spent their time off in a different country. Those numbers stayed strong in 2019, but 2020 will be different. Even a few months ago, if you missed a flight you could get a...
Every single year, about 10 percent of the population moves. That’s 32,252,000 people who relocate annually! 85 percent of residents move within the same state, and 15 percent move to another state. While your move may be entirely unique to you and your...
Reducing your spending and lowering your bills requires a team effort from every aspect of where your money goes every month. Whether you have some debt to reduce or you just want to live a savings lifestyle, minimizing your spending requires creating...
The average American currently spends on average $100 each month on internet and cable. They also pay about $60 per month, on average, for internet access. Are you tired of spending more than $100 per month on cable and internet service? If so, bundling these two...
20 Ways to Save in 2020
Refinance your mortgage
If you own a home, now is a great time to look at refinancing as a way to save money on your monthly payments or even over the life of your loan.
Cut the cord
One of the easiest ways to cut down on your monthly expenses is to get rid of Cable and start streaming. There are great services out there such as Netfiix, Hulu, Amazon Prime and Sling TV that offer great content, as well as access to live TV channels.
Consolidate your debts
A balance transfer credit card or personal loan could be a great option for those that are carrying a lot of debt with a high interest rate. There are many balance transfer credit cards out there that offer perks such as 0% APR for up to 18 months, as well as personal loans that offer very competitive interest rates. By taking advantage of these options responsibly, you can save quite a lot of money on interest.
Refinance your current auto loan
Based on current rates, now may be a good time to see if you can lower your monthly payment on your car by refinancing. Auto refinancing isn’t as popular as a home refinancing, but can be just as effective when applicable.
Use a travel rewards credit card
If you are travelling, start earning benefits by using a travel credit card to earn points toward future flights and hotel stays.
Cut down on your energy bills
Have you investigated solar energy? While there may be some upfront costs, over the long-term solar can equal big monthly savings on your energy bills.
Refinance your Student Loans
Student loan debt can be crippling, but you do have the power to make it less of a burden through refinancing to save money with a new, lower cost loan.
Switch your Auto Insurance
Did you know you can change auto insurance every 6 months? Given this, insurance companies are constantly battling for your business so it makes sense to shop around from time to time to see if you can get a better rate.
Lower your cell phone bill
Take a look at your cell phone bill and truly understand if you need all of that data in the current plan. There are many cheaper options out there, such as Mint SIM, Tin, Cricket Wireless, Boost Mobile and more where you can lower your monthly payment and save big over the course of year.
Cancel your gym membership
Most exercises that you can do at the gym, you can do at home with some creativity. YouTube is a great resource for coming up with ideas for unique home work outs!
Make sure your tires are properly inflated
Did you know that tires that are inflated correctly can increase your fuel economy by over 3%? This can equate to a lot of gas savings over the course of the year.
Bundle your Cable and Internet
If you are not ready to cut the cord, consider bundling your cable and internet for even more savings. There are a lot of options to consider and we’ve even compiled a great list here!
Lower the temperature on your hot water heater
Your water heater can waste anywhere from $36 to $61 dollars a year if its set too high — usually above 140 degrees. Set the temperature around 120 degrees to save money and reduce mineral buildup in your tank.
Get more energy efficient light bulbs
Replace your incandescent bulbs with LED bulbs to save around $75 a year with these bulbs.
Drink less bottled water
Open an Online Savings Account
Double check the APY of your savings account. You can start earning a good chunk of change on money that would have just set in a standard savings account or checking account earning no interest by opening up an online savings account.
Use public transportation when possible
You can save a lot on gas, car maintenance and potentially get car insurance benefits depending on the amount of time that you use public transportation vs. driving your own car.
Unplug unused electronics
Did you know that electrical devices that stay plugged in draw a small amount of electricity that can quickly add up depending on the number of items you have plugged in. To help decrease your electric bill, unplug these items when not in use.
Look into air sealing
By air sealing your home, you can prevent drafts that can potentially increase your utility bills without increasing heating or cooling of your home.
Start a 24 hour rule
This is a great rule for those online shopaholics. If you see something you like, put it in your cart and enforce a 24 hour rule before you allow yourself to make a purchase. This way, you will really make sure you want that item and are not just buying it impulsively.
Top Personal Finance Reads
Do you dread that monthly car insurance bill? Does it feel like you might be paying a lot of money for something you don’t ever use? Yet, you certainly can’t go without either. Ever wonder why the cost of car insurance is so high? The average cost of car...
As you enter homeownership or if you are already a homeowner, you know one of the worst parts of having a home is when something breaks. Suddenly, the air conditioner isn’t pumping cold air. The washer won’t turn on. Maybe you hop in the shower to get...
Research shows that 23% of American homeowners were unable to pay the full amount of their monthly mortgage payment in April 2020. Of that number, 11% were only able to make a partial payment, and 12% could not make a payment. Does this include you? If so, there are...
You’re ready to step out on your own and buy a home. The only problem? Your dreams might be big but your bank account isn’t. You’ve heard the advice of financial experts. You know it’s ideal to contribute a down payment of at least 20% of your...
If you’re looking to refinance your existing FHA loan, then you may want to consider an FHA Streamline. The FHA Streamline Refinance program helps borrowers refinance their current FHA loan more quickly and at a lower rate. It’ll also save you from having...
A Life Expectancy Set Aside, or LESA, is a government-implemented guideline that requires some reverse mortgage borrowers to put aside a portion of their reverse mortgage proceeds to pay for their property taxes and homeowners insurance for a certain amount of time....
Most seniors who receive a Home Equity Conversion Mortgage (HECM) intend to make payments only when the loan comes due. After all, one of the primary benefits of a HECM (more commonly referred to as a reverse mortgage) is that you don’t need to start making payments...