Finance

7 Money Secrets to Pay Off Debt and Build Wealth

Stop worrying about money – it’s bad for you.

Studies show that financial stress can exacerbate all kinds of health issues, like migraines, insomnia, heart disease and weight gain — not to mention the anxiety and depression of our old friends!

Financial worries can tear apart relationships and destroy peace of mind. If you want to stop worrying, all you have to do is take action. That’s right, take it. Action. We have a business plan for you.

You’ll feel better just by taking these seven simple and strategic steps. It will give you a real financial advantage, and you will be on your way to paying off your debts and truly building your wealth.

1. Stop paying your credit card company

A big part of this is forming new habits and thinking about new ways of doing things.

For example: Credit card debt is the most expensive type of debt, and your credit card company gets richer by tearing you apart with high interest rates. But a website called AmOne It can help you fight.

If you owe your credit card companies $50,000 or less, AmOne will match you with a low-interest loan that you can use to pay off each of your balances.

Benefit? You will only have one bill left to pay each month. And since interest rates on personal loans are low (AmOne rates start at 3.49% APR), you’ll be out of debt. who – which Much faster. Plus: No credit card payment this month.

After 20 years in business, AmOne has an A+ rating with the Better Business Bureau. It takes two minutes Find out if you qualify for up to $50,000 online. You need to give AmOne a real phone number in order to qualify, but don’t worry – they won’t send you spam emails with phone calls.

2. They get paid every time you buy groceries

Expensive groceries! But a free app called Bring rewards It will reward you with gift cards just for purchasing toilet paper and over 250 other items at the grocery store.

Here’s how it works: After you’ve downloaded the app, simply take a picture of your receipt showing that you’ve purchased an item from one of the brands listed on Fetch. For your efforts, you’ll earn gift cards to places like Amazon or Walmart.

you may Download the free Fetch Rewards app here To start getting free gift cards. Over a million people already have them, so they must be onto something.

3. Stop Overpaying for Online Stuff

Wouldn’t it be nice if you ever get an alert when you’re shopping on Amazon or Walmart.com and you’re about to fall?

That’s exactly what this is free service Do.

Simply add it to your browser for free, and before you check out, it’ll check other websites, including Walmart, eBay, and others to see if your item is available at a cheaper rate. Plus, you can get coupon codes, set up price drop alerts, and even see an item’s price history.

Let’s say you’re shopping for a new pair of shoes and assume you’ve found the best price. A popup will appear letting you know if that specific pair of shoes is available elsewhere at a cheaper rate.

Last year, this saved people $160 million. You can get started with just a few clicks to Find out if you are overpaying online.

4. Get $540 per year of your car insurance in minutes

Reducing necessary expenses can make a big difference. So when was the last time you checked auto insurance rates?

You should shop your options every six months or so – it might save you some serious money. Let’s be real, though. This is probably not the first thing you think of when you wake up. But it doesn’t have to be.

A website called Insure.com It makes it extremely easy to compare car insurance rates. All you have to do is enter your zip code and age, and it will show you your options.

By using Insure.com, people saved an average of $540 per year.

Yeah. That might be $500 in your pocket just to take a few minutes See your options.

5. Have an emergency fund

Are you worried about losing your job? Nervous about what will happen next? That’s why it’s so important to have an emergency fund as a backup – just in case.

An emergency fund is a stockpile of easily accessible money equivalent to three to six months’ salary, in case you lose your job unexpectedly. Millions of us will unexpectedly lose our jobs in 2020.

with the Ambition spending accountYou can earn up to 5% cashback on your debit card purchases. With an Aspiration Save account (where you can transfer your tax refund), you can earn up to 20 times the average interest on your savings balance. (The FDIC reports that the average account earns only 0.05%.)

It takes five minutes Participation.

6. Be an Investor – Really

In the end, investing is how you truly build wealth.

If you feel that you do not have enough money to start investing, you are not alone. But guess what? You don’t really need that much – and you can even get free shares (worth up to $200!) if you know where to look.

Whether you have $5, $100 or $800 to spare, you can start investing Robinhood.

Yes, you may have heard of Robinhood. Both novice and professional investors love it because it does not charge a commission, and you can buy and sell shares for free – no limits. In addition, it is very easy to use.

what is the 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, and this stock can be worth anywhere from $2.50 to $200 – a nice boost to help you build your investments.

7. Leave up to a million dollars for your family

There has been an increase in interest in life insurance during the pandemic, as more Americans realize they may need it.

Overall, Americans bought about 10% more life insurance policies in 2020 than they bought in 2019. This may not sound like a lot, but it’s actually the biggest increase in nearly two decades.

Also, more people are looking for life insurance without a screening because they don’t want to go to the doctor’s office for an in-person check-up. Companies like incurred Using algorithms in place of medical examinations to evaluate applicants.

Prices start at just $16 a month. You can leave your family up to a million dollars. Peace of mind knowing your family is being taken care of is invaluable.

If you are under 54 years old and want to get a quick quote on life insurance without leaving your home, Get a free quote from Bestow.

Mike Brasfield ([email protected]) is a featured writer for The Penny Hoarder. He tries not to worry too much about the money – apart from writing about it, of course.



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