Where do I start?
I’m a huge savings nerd, and have spent an embarrassing amount of time talking to people about their money habits. Here are the biggest mistakes people are making and how to fix them:
Overpaying on car insurance
You’ve heard it a million times before, but the average American family overspends by $417/year on car insurance. If you’ve been with the same insurer for years, you are likely one of them. Pull up coverage.com, a free site that will compare prices for you, answer the questions on the page, and it will show you how much you could be saving. That’s it. You’ll likely be saving a bunch of money.
Not using credit cards to your advantage
When it comes to spending for essential purchases, it’s important to make the most of your credit rewards. Some cards pay up to 3% cash back, or you could earn 5x points towards your next vacation. They also offer some really impressive sign up bonuses like $200 cash back or 60,000 points. If you’ve had the same old card for years, this is basically free money that you are currently throwing away…and it only takes a few minutes to apply. You can explore all of the best options at creditcards.com.
If you do happen to have some existing credit card debt, you might want to consider a balance transfer card. You can transfer your existing card debt and pay 0% interest for up to 21 months.
Click here to find the best card for you
Not having a separate high interest savings account
Having a separate account allows you to see the results of all your hard work and keep your money separate so you're less tempted to spend it. Plus with rates above 4.00%, the interest you can earn compared to most banks really adds up.
Here are some of the best options out there:
Open an account and deposit $5 before moving on because this is one of the biggest mistakes and easiest ones to fix.
Consistently being in debt
If you’ve got $10K+ in debt (credit cards…medical bills…anything really) you could use a debt relief program and potentially reduce by over 20%.
Here’s how to see if you qualify:
Head over to National Debt Relief’s official website here, then simply answer the questions to see if you qualify. It’s as simple as that. You’ll likely end up paying less than you owed before and you could be debt free in as little as 2 years.
Missing out on free money to invest
It’s no secret that millionaires love investing, but for the rest of us, it can seem out of reach. Times have changed. There are a number of investing platforms that will give you a bonus to open an account and get started. All you have to do is open the account and invest at least $25 and some even offer a sign up bonus.
Pretty sweet deal right? Click here for some of the best options:
Having bad credit
A low credit score can come back to bite you in so many ways in the future. From that next rental application to getting approved for any type of loan or credit card, if you have a bad history with credit, the good news is you can fix it. Head over to creditrepair.com and answer a few questions to see if you qualify. It only takes a few minutes and could save you from a major upset down the line.
Click here to start fixing your credit
How to get started
Hope this helps! Here are all of the tools you need to get started: