Five Finance Tricks to Make Your Money Work for You

Wednesday, July 27, 2016, PM | Leave Comment

Are you looking for ways to stretch each dollar further? Just putting your paychecks in the bank is a good start saving up, but if you want your money to do more for you, you’ll have to do a little research.

Check out these five financial tricks to make your money work for you. 

Five Finance Tricks to Make Your Money Work for You

  1. Refinance Your Home

    With current rates being so low, you may be able to refinance your home and save quite a bit on your payments.

    Check with a Republic State Mortgage Co to see if you are eligible to refinance at a lower rate.

    With smaller payments, imagine how much extra money you will have for other purposes.

  2. Peer to Peer Lending

    With interest rates being so low, it can be hard to figure out where to place your money to make a decent amount of interest.

    If you are willing to take some risk, you may want to check into peer to peer lending as it is offering up a much higher interest rates than many other current options.

  3. Call your Utility Providers

    If you have been with your phone or cable companies for a while now and have noticed a hike in pricing, consider calling them up to negotiate a better price.

    Many of these companies will work with you to get your monthly cost down to a reasonable price to honor your long time commitment.

    If they do not work with you, consider checking into competitors as they may be willing to offer you a much lower rate in exchange for your service.

  4. Coupon

    Your first thought might be that you don’t have time for this. However, there are so many different apps that do a majority of the coupon work for you now, that it can be a cinch and takes relatively little time to save a hefty percentage on your grocery bill.

    Take the time to search for a local blog that offers coupon match-ups at a grocery store near you.

    Read a little on how to start and try it for a few weeks to see how much you can stretch your dollar even further.

  5. Consider Switching to an Online Bank

    Having a hard time finding a decent interest rate on a savings account?

    Consider switching from a brick and mortar bank to a reputable, FDIC insured online financial institution.

    Many times online banks can offer higher interest rates than a brick and mortar bank.

Saving money is always a good idea, and making your money work for you means your savings are helping you build a better financial foundation.

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