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Listen. There’s a lot of financial advice floating around out there. But when it comes to money, it’s never one-size-fits-all. You’ve got to make decisions based on your income, your spending and your goals.
So, if you’re making less than $60,000 a year, these are some simple money moves you can cater to your situation:
1.Set up a Budget
No matter your income, you’ll need a budget. You’ve got to track where your money is coming from and where it’s all going.
If you’ve tried to budget in the past but haven’t had luck, try the 50/20/30 budgeting method.It’s super easy and flexible to use. Here’s what it looks like:
● 50% of your income goes toward living expenses.
● 20% of your income goes toward financial goals.
● 30% of your income goes toward spending.
If you need, you can tweak the numbers to fit your specific situation. For example, if you need to spend more on living expenses, cut back on spending.
2.Take Your First Step Toward Living That Debt-Free Life
While you’re stressing out over your debt, your credit card company is getting rich off those high interest rates. But a company called Payoff could help you pay off that bill in as little as two days.
Here’s how it works: The Payoff loan is a low-interest loan you can use to pay off every credit card balance you have. The benefit? You’re left with just one bill to pay every month, and because the interest rate is so much lower, you can get out of debt so much faster.
If your credit score is at least 640, Payoff can help you borrow up to $35,000 with fixed rates starting at 5.99% and terms from two to five years.
Payoff won’t make you stand in line or call a bank, either. And if you’re worried you won’t qualify, it’s free to check online. It takes just two minutes, and it won’t hurt your credit score. Plus, it could save you thousands of dollars.Totally worth it.
3.Go Ahead and Cancel Your Car Insurance
If you want to free up some extra room in your budget, one of the easiest places to start is to cancel your current car insurance.
In most places, it’s straight up illegal not to have it, so you’ve probably accepted that you’re going to pay through the nose for it. But you don’t have to.
A free website called The Zebra will do the shopping for you. It takes just two minutes.
All you have todo is enter basic information about your car and driving history, then TheZebra compares prices from more than 100 companies to find you the best price.
The Zebra says it saves its users up to $670 a year.
If you find a policy you like, you can sign up online instantly.
4.Add up to $225 to Your Bank Account This Month
Now that you’ve made your monthly budget, you might decide you could use a little extra income.Heck, who couldn’t?
You might not want a full-blown side gig, but a website called InboxDollars will pay you up to $225 a month just for watching videos from your computer. One minute you might watch someone bake brownies and the next you might get the latest updates on Kardashian drama.
All you have todo is choose which videos you want to watch and answer a few quick questions about them afterward. Brands pay InboxDollars to get these videos in front of viewers, and it passes a cut onto you.
Unlike other sites, InboxDollars pays you in cash — no points or gift cards — so you can put the money directly toward rent. It’s already paid its users more than $56million.
It takes about one minute to sign up, and you’ll immediately earn a $5 bonus to get you started.
5.Turn Those Crumpled Receipts Into Free Gift Cards
What do you usually do with your receipts? You check out, they hand you a mile-long piece of paper, and you frantically stuff it to the bottom of a grocery bag. Pretty worthless.
But a free app called Fetch Rewards will turn them into gift cards.It partners with tons of brands to give you points for every grocery receipt you share. Then you can exchange them for gift cards to places like Amazon,Walmart, Chipotle and dozens of other retailers.
And it’s perfect for those of us who don’t want to put a ton of work into this. All you have todo is send Fetch a photo of your receipt, and it does everything for you. No scanning barcodes or searching for offers — and you can use it with any grocery receipt.
When you download the app, use the code PENNY to automatically earn 2,000 points when you scan your first receipt. Then start snapping photos of your recent receipts to see how many points you can earn without a single trip to the store!
6. Leave Your Family $1 Million
If you make less than $60,000 a year and support a family, life insurance probably isn’t at the top of your list. But have you thought about how your family would manage without your paycheck once you’re gone?
No matter your income, now’s a good time to start planning for the future by securing a life insurance policy. And you don’t have to have millions of dollars to make this a smart move.
It doesn’t have to be difficult, either. With a company called Bestow, your application shouldn’t take more than about five minutes — and you could leave your family $1 million. Policies start at just $5 a month.
You can change or cancel your plan at any time. Plus, the security of knowing your family is taken care of is priceless.
If you’re under the age of 54 and want to get a fast life insurance quote without a medical exam, pushy sales calls or even getting up from the couch, get a free quote from Bestow.
7.Protect Your Paycheck in Case You Get Too Sick or Hurt to Work
Have you ever thought about what would happen if you got too sick or hurt to work? How would you afford to keep yourself and your family afloat without a paycheck?
That’s where disability insurance can help. If you’re out of work for an extended amount of time — whether you get in a car accident, have a heart attack, injure your back or get diagnosed with a mental illness — it’ll ensure you still have an income.
You’re probably thinking: How much is this going to cost me? And: How much paperwork does this entail? Thanks to Breeze, an online disability insurance provider, you can secure a policy for as little as $9 a month, and it doesn’t take more than 15 minutes to apply.
Plus, with Breeze, you don’t need to worry about hidden fees, and you can customize your plan to fit your income needs and your budget. It takes just 30 seconds to get a free quote.
8. Download This App to Get Up to$500 in Free Stock
If you feel like you don’t have enough money to start investing, you’re not alone. But guess what? You really don’t need that much — and you can even get free stocks (worth up to $500!) if you know where to look.
Whether you’ve got $5, $100 or $800 to spare, you can start investing with Robinhood.
Yeah, you’ve probably heard of Robinhood. Both investing beginners and pros love it because it doesn’t charge commission fees, and you can buy and sell stocks for free —no limits. Plus, it’s super easy to use.
What’s best? When you download the app and fund your account (it takes no more than a few minutes), Robinhood drops a share of free stock into your account. It’s random, though, so that stock could be worth anywhere from$5 to $500 — a nice boost to help you build your investments.
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