December 4, 2022

No matter what your current financial situation is, you can always improve it. Whether you’re making more money, spending less, or shopping, there’s always an area that can be fine-tuned to help you get closer to your financial goals. To help you with that, below are seven ideas for improving your financial wellbeing.

1. Check your credit history

It is important to know that your credit history is good. A few years ago my wife opened a fraudulent account in her name and we only found it because we regularly checked our credit history. We ended up cleaning up her credit report, but it could have been worse if we weren’t careful.

I use a website called Credit Sesame that gives you your credit score almost instantly for free along with a letter graded credit report CARD showing your occupancy. Make sure you check your credit at least a few times a year to ensure there is no fraudulent activity and that your credit is in good shape.

2. Earn money with small tasks

One way to earn some extra dough quickly is to do chores in your free time. While there are countless online opportunities, here are a few good ones to check out.

Survey Junkie pays you to take surveys and has an A+ rating from the Better Business Bureau. This site is cool because they pay you instantly with cash through paypal.

Swagbucks pays you cash for things you do every day like surfing the web, watching videos, etc. They have paid out over $194 million to their members.

3. Rent out a room in your house

Do you have an extra bedroom that you rarely use? If so, you should consider renting it out to make extra money.

Airbnb is a website that allows you to rent a room in your home for short-term guests. There are millions of travelers who use Airbnb to look for rooms to rent instead of staying in a hotel.

The returns on this can be amazing! My friend Steve and his wife make over $1,000 a month renting out their guest room.

4. Save money with a robot

There is a free tool called Trim that can cancel your unused subscriptions, get money back, and renegotiate your bills for you. The average person saves $30 per bill. All you have to do is sign up, connect an account and the robot assistant will email you money-saving opportunities.

It’s really cool and easy to use.

5. Get paid to drive people around

If you enjoy meeting new people and want to make money on the side, riding Lyft might be worth it. You work the hours you want and the pay is decent. My buddy Ryan makes about $800 a month driving people around on the side.

Right now, Lyft is offering a $250 sign-up bonus, which is pretty sweet.

6. Open a high yield savings account

Tired of not earning anything with your savings? Well, those days are over. Look at the CIT bank. They pay up to 3.25%, which is more than traditional banks, and they’re FDIC-insured.

They have a minimum of $100 to open an account and the best part is there are no maintenance fees.

7. Refinance your high-interest debt

If you have credit card debt at all, DO NOT overlook this option. With an average credit card interest rate of around 15%, you could save a lot of money in the long run.

One of my favorite companies is Upgrade because they can help you refinance your credit card debt up to 5.99%, allowing you to pay off your debt even faster.

Disclaimers

Loans granted through upgrades have an APR ranging from 5.99% to 35.89%. All loans have a 1.5% to 6% processing fee that is deducted from the loan proceeds. The lowest tariffs require Autopay. For example, if you received a $10,000 loan with a term of 36 months and an APR of 17.98% (including an annual interest rate of 14.32% and a one-time processing fee of 5%), you would end up with $9,500 into your bank account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offerings may not have multiple terms available. The actual interest rate depends on creditworthiness, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees can add to the cost of your fixed rate loan. There is no fee or penalty for prepaying a loan.