We all have habits deeply ingrained into our brains. Some of those habits, like holding the door for others or tipping the pizza guy, are great instincts. Others, like ordering Chinese takeout when you know there’s only $30 left in your bank account? Yea, maybe not so great.
If you want to stop living paycheck-to-paycheck and finally embrace a financially stable lifestyle, you need to change some of your habits. Luckily, you have plenty of role models to give you inspiration.
These habits of savvy, financially stable people demonstrate exactly how to improve your financial wellness.
Use these tips to stop wondering how you’re going to afford the electricity bill and instead start wondering where to invest your growing savings.
Habit 1: Always Sticking to a Budget
Savvy folks don’t tend to go astray on their budget because they know how much they have.
Truebill easily helps you budget, even if you don’t know how to. Their simple to follow budgeting pulls your historical spending, organizes it, and allows you to clearly see your spending so you can set a target budget with context. (Aka you can see where you’re wasting money on).
Truebill’s five-star reviews come from people formerly bad at budgeting. Dawn H. said “LIFE CHANGING!!!! I was never able to save money or budget myself but with Truebill all the work is done for you! I am very grateful.”
Truebill will also alert you if you’re getting a little too spend-happy in your budgeted categories so you know when to curb it. Another user, Clee M. said “This app is 100% true in what it advertises. I am normally skeptical about connecting my bank info to apps. This app is completely safe and easy to use!”
It’s simple but actionable budgeting that anyone can follow and it’s free to use! Join the many users today and control your spending with Truebill!
Habit 2: Never Overpaying on Auto Insurance
You’re sharing the same roads with a lot of different people. Distracted people, oblivious people, road-rage people, etc. It’s best to cover yourself with insurance when everyone is operating a giant motor vehicle.
That’s why car insurance exists and is mandatory. You might be overpaying on your current insurance premium since it can be a hassle finding another provider.
However, you can search for quotes easily on EverQuote. They help match you among dozens of regional agencies and insurance carriers to filter the best matches to save on your car insurance.
It takes about 4 minutes to fill out the form and you’ll see a list of matches that show potential online quotes, email, and potential phone quotes.
EverQuote can save drivers $610 a year on average* compared to their current insurance premiums. Once you see your list of potential matches, choose the online ones you want or wait for more information via email or phone.
It’s a pretty simple process, so try it out to see how much you could be saving on the road!
Habit 3: Making Savings Fun!
Look, we know saving money is boring, but it’s just one of those non-negotiables in life. 63% of Americans don’t even have enough to cover a $500 emergency. Yikes.
That’s why Long Game Savings is actually making saving fun by just playing free games on their app. Games are light and easy-to-play (think lotteries, scratchers, slots, and more) and you can win daily cash prizes up to $1M (yes, million) and crypto!
When you set up a savings account, you access the games. The more money you save, the more you can play and now, their new debit card lets you earn more rewards just by spending normally. It has a RoundUp feature that lets your purchases be rounded up to the nearest dollar with the change going towards your savings. So every time you’re buying a meal, getting stuff at Target, etc, you’re contributing to your savings and earning interest!
Long Game Savings is completely free-to-use as banks pay them, not you. There’s no way to lose money, but plenty of ways to earn and win! Plus you can withdraw your money at any time.
Habit 4: Saving on Grocery Trips
Did you know that it’s 325% more expensive to eat out versus eating at home*? Maybe it’s time to make more trips to the grocery store instead.
You’ll be aware of all the ingredients in your meal, in addition, you’ll get paid just for shopping!
It’s simple. All you have to do is take a picture of your grocery receipt and Ibotta will pay you cash.
Here’s how it works:
Before you go to the store, search for your shopping list items in the Ibotta app. After your store visit, take a photo of your receipt to get cash back.
Ibotta is free to download and you’ll also get up to $20 in Welcome Bonuses when you sign up! They’ve already given out $186 million dollars cash back to savers in 2019 alone.
Some offers we found:
- 25 cents back on any item
- $3 – $5 back on various wine
- $2 back on KIND Protein Bars
- 25 cents – $4 back on ice cream
- $2 back on Herbal Essence Haircare
Popular stores are Walmart and Target, but Ibotta also works at restaurants, online shopping sites, and even at the bar. On average, active Ibotta users save up to $240 a year or more but the highest saver got $13,000 in cash back this year! What would you do with that extra money?
Welcome Bonus: Up to $20
Average savings a month: $20
What it could add up to in a year: $240
Additional Referral Earnings: $5 per referral
Habit 5: Investing Money (Even if You’re Not Rich)
If you feel a little clueless whenever there’s talk about investment portfolios, you’re not alone. It can sound overly complicated.
However, there’s an app that’s like an easy gateway to investing.
It’s called Stash, an investment app that only takes $5 to start and you’ll also get a $5 bonus after funding your first investment!
They curate from over 250 investments which include stocks and Exchange Traded Funds. You’ll get to choose where to put your money based on things like your personal beliefs, interests, and goals.
Finally, investing is no longer for the elite 1% with Stash helping to make it so easy for the rest of us.
Habit 6: Make Interest on Your Money Instead of Wasting it on Fees
Traditional banks seem to take every opportunity they can to squeeze more money out of you. With everything from a monthly service fee to various hidden fees nibbling away at your account balance. Enter Varo which was founded to provide a fee-free banking service2.
Yep, Varo has no monthly service fees, no foreign transaction fees, and no ATM withdrawal fees. On top of having no fees, Varo lets you make more money on your money. Varo provides a high-yield savings account that starts at 1.61% Annual Percentage Yield (APY)1 that can move up to 2.80% APY1 based on qualifying activity. To put this into perspective, the average APY of the 5 biggest national banks is 0.09%.*
Varo has a few sweet extra features too:
- Get your paycheck up to 2 days earlier4
- No minimum balance requirement
- Over 55,000+ AllPoint® ATMs worldwide to use your Varo Visa® debit card
- Offers personal loans to pre-qualified customers who want to consolidate debt
- Varo will send any paper check to anyone in the U.S. on your behalf
- Varo Personal Forecast tracks your spending to manage your cash flow
- “Save the Change” rounds up your purchases to the nearest dollar and saves the difference to your Varo savings account
If you’re sick of being charged banking fees and want to make more out of your money, check out Varo. It takes less than 5 minutes to learn more and apply for free.
Habit 7: Adopt the Shop Smarter Mentality for Everyday Purchases Too
If you have room for 1 more app on your phone, then it needs to be this.
Actually, delete another app to make room for this one. It’s that good.
It’s called Drop, a free app that gives you gift cards on stuff you already buy from your favorite stores and brands.
Your everyday purchases from Amazon, Trader Joe’s, and Walmart? You’ll get points for that. Points translate to gift cards so the more you collect, the more you can redeem!
The only thing you need to do is link any credit or debit card you usually use for buying stuff and that’s it! Drop will automatically recognize when you buy from your activated offers to reward.
There’s literally no downside to using this free app to get more gift cards. Use it on top of your loyalty points and credit card points for even more rewards!
LIMITED TIME OFFER: Use promo code SMARTWALLET to unlock 5,000 points ($5) automatically when you link your first card on Drop!
Habit 8: Handling Student Loan Debt the Smarter Way
We don’t even know what’s going to happen a week from now but anything that can help financially should be considered.
If you have student loans, you can refinance with Credible’s online marketplace that matches you with Federal, private, and/or Parent PLUS personalized loan rates. Since the Federal Reserve has slashed interest rates, it’s the opportune time to refinance which can save you more money over time.
Colleen refinanced, which cut her federal rate down to 4.5% (originally 8%) and that saved her $12,000 over the life of her loan! During these uncertain times, we need to save wherever we can.
Personal loans are also on the marketplace if you need to borrow money to help with medical expenses, home projects, or anything else.
You just fill out one form and get personalized rates in a few minutes. Since it’s a soft credit inquiry, your credit score won’t be affected by using Credible.
Habit 9: Keeping Peace of Mind for Loved Ones
When you hear “life insurance” the first 2 things that might come to mind are death and finances. Ultimately it’s “I love you” money to your family after you’ve passed away.
So for most people, life insurance is logical but the long process could be deterring. Some life insurance companies can take up to 2.5 months for the approval process to complete, including lots of paperwork and a comprehensive medical exam which may be inconvenient.
But one company is trying to change all that. Bestow’s mission is to offer affordable term life insurance in under 5 minutes without you having to talk to anyone. No exam needed either.
You can get up to $1 million in coverage and they offer 2 years, 10 years and 20 years term options.
All of Bestow’s policies are underwritten by North American Company for Life and Health Insurance®, who’s been around for over 100 years and holds an A+ (Superior) rating with A.M. Best, a global credit rating agency for insurance companies.
In plain English terms, it means your policy is provided by dependable insurance giants who have been serving customers for many years.
So if you’re between the ages of 21-54, here’s what they’ll ask:
- Your basic information (Name, Email, Address, SSN etc)
- Some Life questions (medical history, hobbies, lifestyle)
- Beneficiaries (who would receive the money after insured’s death)
- Policy and payment details (If approved, you choose the monthly payment and enter credit card info)
Each policy has a “free look” period (usually 30 days) which means you can cancel if it’s not right for you and get a full refund.
And you can easily change your policy at any time based on life events like marriage, job loss, divorce, etc.
Life insurance talk isn’t fun but Bestow is attempting to make it as easy as possible for people to get covered quickly. Go ahead and see what your rates are in just under 5 minutes. It’s the biggest “I love you” you can give to your loved ones.
*Bestow is currently not available in New York
Habit 10: Earn Smarter Not Harder
The exclusive National Consumer Panel (NCP) program is opening up again for more participants! This is your opportunity to make your consumer voice heard! (And get paid for it!)
When you become a panelist, just use the app to scan the barcodes of items you purchase, provide a few additional transaction details, and you’ll earn points for:
- Gift Cards
- Electronic Equipment
- Flat Screen TVs
- and much more from their gift catalog!
Plus, all panelists are automatically entered into weekly, monthly, quarterly, and annual drawings to win extra points and gift cards – even a quarterly sweepstakes to win $5,000!
The more you share your shopping habits (scan barcodes), the more rewards you can get. You can also answer surveys and share information about your overall shopping trip.
“Scanning my purchases is fun! I also enjoy taking the surveys. Earning points is fast and easy and they have a great selection of rewards.” – Jennifer B.
It’s a fun way to earn more rewards on items you’ve already purchased and at no extra cost to you.
Register now to see if you’re eligible to be a National Consumer Panelist. Eligibility will be based on your location. If you don’t get accepted this time, don’t worry! They’re always expanding locations, so check back again.
*EverQuote’s individual savings, if any, and premiums will vary by customer. Savings amount based on countrywide survey of users from Nov 2018 to Apr 2019 who reported old and new premiums.
*Investment advisory services offered by Stash Investments LLC, an SEC-registered investment adviser. This material has been distributed for informational and educational purposes only and is not intended as investment, legal, accounting, or tax advice. Investing involves risk.
*In order for you to be paid early, your payroll or benefits payment provider must submit the deposit early. It is important to note that your payroll or benefits payment provider may not submit the deposit or payment early each payment period. Be sure to ask your payroll or benefits payment provider when they submit your deposit information to the bank for processing. Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct Deposit and earlier availability of funds is subject to payer’s support of the feature and timing of payer’s funding.
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