If you look at your finances, chances are there is room for improvement. It may seem that you are doing OK, but it is possible to do better.
There are simple changes you can make in just a few minutes that will not only save you money but will also have a lasting positive effect on your financial health.
EASY WAYS TO IMPROVE YOUR FINANCES
1. Lower your monthly bills
When you look at your budget, you will see your utilities listed. These can quickly add up. You may be able to negotiate and reduce your monthly fees. You don’t have to this yourself.
Sign up for free with . They do the work for you by seeing if they can find a way to save you money. Trim can cancel subscriptions, lower your cable bill and even try to find you insurance that costs less money. The average person saves at least $30 a month!
It’s easy to and requires nothing more on your end other than signing up.
2. Review your credit
Knowing how your credit looks, in addition to your credit score, is part of your financial well-being. There may be things on your credit report that are wrong or fraudulent, and the only way you will know is by monitoring it regularly.
Make sure you request your once a year. Review every entry to make sure it is correct and that there no errors. If you do find one, you can get it cleaned up by filing a claim with the credit agency.
Take your credit one step further by learning your credit score. provides this to you at no cost. I use this because I not only get my score but also my credit utilization grade and credit report card.
3. Reduce interest rates
If you have high-interest credit cards or loans, your monthly payments are not tackling the principle. It is frustrating to send in your payment to see the balance drop very little month to month. You need to get the debt paid off – and quickly.
A simple way to do this is to lower the interest rate. is a reputable lender who can work with you to reduce your interest rates. You will be able to pay off your debt even faster.
You can also use if you have student loan debt to reduce your interest as well. The average savings for refinancing these loans is more $18,668! You could significantly reduce your interest rate and finally see your student loan balances start to drop.
4. Start a side hustle
One of the easiest ways to improve your finances is to make more money. You may not be able to get a raise at work, but there are fun ways you can make money on your own. You might want to try your hand at being an or .
There are countless ways you can make more money. You may need to think outside of the box.
5. Set up automated savings
It is essential to build a savings account, so you have cash available should unexpected expenses arise. By automating your savings, you will build your account without being tempted not to save.
helps you save money on every purchase you make. They round your purchase up to the next dollar and transfer the difference into your savings account. If you spend $9.88, they will round up the purchase and transfer $0.12 to savings for you.
Right now, when you sign up with , they are giving my readers a special $5 sign up bonus! Take advantage of this great offer while you can.
6. Save for retirement
According to the , the average American has only around $96,000 saved for retirement. That is not nearly enough to cover your living expenses. It is essential that you take time to make sure you are investing in yourself for the future.
Check out your Employer’s 401(k) plan and make sure you contribute as much as you can. If you can’t max out your contribution, make certain you contribute the maximum to take advantage of any match they may have. For example, if they will match you 25% on the first 4% you contribute, make sure you save 4%. That means you are saving 5% when you add in the amount they give to you. That’s free money!
It is also wise to make your own investments. You may want to another type of . Set up automated monthly deposits so you never have to remember to send the money and will not be tempted to spend it on something else.
7. See if you have free money waiting for you
There is a possibility that there is unclaimed money, in your name, just waiting for you! It could be from bank accounts, insurance policies, utility deposits and other places.
Visit and enter your name for a search across all states. You never know if something is waiting for you! If you do not see your state listed on this site, you can also visit , which is the site for the National Association of Unclaimed Property Administrators.
8. Change your cell phone provider
Most people use one of the three largest providers because they think that is the only option available. That is no longer the case. A little shopping around may help you significantly lower your monthly cell phone bill.
Make sure you use a service that is not only affordable but has reliable coverage and service. allows you to use your current phone and get coverage for as little as $15 per month.
9. Check your spending
If you don’t already have one, take the time to create a workable budget. It is your roadmap to financial success. Then, continue to track your spending by keeping track of every purchase.
The simple way to do this is by using a cash budget. Of course, if that is not for you, monitor your spending with a cashless envelope system, such as .
If you need more help getting better control of your money, the Financial Reboot may be the answer. You or and get back on track for better money management.