How much money would you like to have saved for the holidays? Or your next vacation? Or your emergency fund?
Whatever your goal, the number probably seems overwhelming.
Trying to figure out where several hundred or a few thousand dollars might come from is tough. Instead, break it down. Find ways to set aside just a little bit at a time — you’ll be surprised how quickly you can move toward your goal!
To help you get started with that first step, we’ve put together 8 easy things you can do to help save money this year!
1. Negotiate A Better Mortgage Rate With HARP
If you’re a homeowner and you want to save yourself thousands of dollars this year, there’s a government program that you might be able to take advantage of called HARP. The Home Affordable Refinance Plan (HARP) could help hundreds of thousands of Americans reduce their monthly payments by as much as $3,500 in their first year. The program was set to expire in 2017 but has been extended to 2018 for the time being. In order to qualify for HARP you’ll need good or excellent credit, so if you don’t have a very good credit rating then this probably isn’t for you. To check if you qualify visit HARP Approvals, and fill out the short quiz (take 2 minutes). If lowering your payments, paying off your mortgage faster, and having an extra $290 a month in HARP savings during the first year of your mortgage would help you, then this could be the easiest money savings tip you take.
2. Install A Home Alarm System
This money saving idea is also for homeowners, so if you’re a renter you can skip this one. Did you know that homes without security systems are 2.5 times more likely to be targeted by burglars and intruders? But installing a home alarm system isn’t just to stop burglars and intruders, it can also save you big money year after year. A house alarm will save you money on your homeowners insurance policy (which is generally mandatory if you own a home). In fact, on average installing a home alarm system will give homeowners a 10-20% discount on their insurance by having a high functioning home alarm system installed. The good news is that these home alarm companies are pretty desperate for customers at the moment so you can get a good deal. For instance, one of the best alarm system companies – ADT is currently offering over $800 in savings if you just pay the installation fee. That means you basically get a free alarm system for over a year, just by paying a $99 fee.
3. Drive For Lyft – Earn an Extra $2,400
Need a fun, flexible way to earn money this month? Try driving with Lyft!
Demand for ridesharing has been growing like crazy, and it shows no signs of slowing down. To be eligible, you’ll need to be at least 21 years old with a year of driving experience, pass a background check and own a car made in 2007 or later.
We talked to Paul Pruce, who’s been driving full-time with Lyft for over a year. He earns $750 a week as a driver.
Best of all, he does it on his own time. You can work days, nights or weekends — it’s up to you!
Work 40 hours a week for one month, and you could bank up to $2,400.
4. Get a Lower Auto Insurance Rate
You might think you’re already paying a low auto insurance rate, but recent research shows that only 5% of Americans are paying less than $50 per month for car insurance. If you’re currently paying more than $50 per month, and have had no accidents or tickets in the past two years, you can probably secure a much lower car insurance rate. The best way to do that is to compare quotes from multiple insurers – let them compete for your business. In fact, there’s a new website that allows you to do just that – it’s called Best Quotes Auto Insurance. Once you fill out the form on their website they’ll provide you with multiple quotes you can choose from. If you’re still not satisfied, you can always call up the major car insurance companies and let them know you’re looking for better offers.
5. Reduce Your Electricity Bill With Solar Panels
For Homeowners, rising monthly electricity costs can make you feel like you’re always living paycheck to paycheck (despite the government saying the economy is growing at a record pace). The good news is that now more than ever the government is offering subsidies to install solar panels. That means if you live in a sunny part of the United States, you may be able to qualify for a free installation, and it will significantly reduce your electricity costs in a matter of weeks. In fact, some Americans have saved as much as $183 per month on their energy bills. If you’re not happy with solar panels, you can always wait until the new Tesla home Powerwall is ready and purchase that. If you’d like to get a quote on solar panels in your area – you can visit Home Solar Installation and get an idea of how much money you can save by making the switch.
6. Get A Lower Health Insurance Rate
One thing is for sure, Obamacare can be very confusing, and people have been overloaded with too much information. But with new changes coming, making sure you have a good health insurance policy can end up saving you a lot of money in the long run. A big part of the law states that if you do not have coverage, you will have to pay a fine (which has increased since last year). The fine is either a) 2.5% of your total income or b) fines for each member of your household ($695 / adult, $347.50 / child). A new website called Obamacare Health Plans aims to educate consumers about their options and also provides you with an easy way to find and compare health carriers and brokers in your area. Just enter your zip code and provide them with a bit of information and they’ll work to find you the best health insurance rates.
7. Get Paid To Take Online Surveys
What if you could get paid a little bit of extra pocket money just for taking a few online surveys? Would you do it? There’s a new website called Survey Junkie that allows you to do just that. You provide them with a bit of information about yourself and they’ll match you up with to surveys that you can complete for big brands. You then earn rewards and virtual points that you can redeem for Paypal or e-Giftcards. You won’t make a ton of money doing this, but it could help pay for a few things every month and it’s easy to do.
8. Cut The Cord on Cable Forever
Millions of Americans are completely cutting the cord on their monthly cable costs, allowing them to save $100+ per month in unnecessary fees. Many of them are switching to Netflix or Amazon Prime Video subscriptions, but there are also other ways you can get cable channels without needing to pay a monthly fee. All your local news, weather, sitcoms, cooking shows, kid’s shows, sports and thousands of movies are available for free with an antenna. In fact, most broadcast stations offer additional regional programming, absolutely free. The ClearView antenna simply attaches to your current TV’s antenna jack (all TV’s have them), and then you get to enjoy Free Broadcast TV. It supports 1080p HDTV and has up to 30 miles of range, so it’s nothing like the “rabbit ears” you used to use. If you find you’re not watching as much television as you used to, this could be the perfect solution for you and can save you a lot of money every month.
