Make Money From Home

Savings Challenge: How to Improve Your Financial Outlook in 7 Days – GOBankingRates

Ridofranz / Getty Images/iStockphoto …….

Ridofranz / Getty Images/iStockphoto

Opportunities to save and make money are everywhere. But what’s the point of spending money to (maybe) make some back? Some savings “challenges” are scams that require banking information or fees in exchange for the “opportunity” to earn quick cash, while others require you to play games or watch videos endlessly just to make a pittance.

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Following are savings concepts that are free — or cost very little — and can improve your financial outlook immediately.

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Day One: Start a Savings Challenge

Common sense financial advice usually works. If you want to save money, then stop spending it and start saving it. Savings challenges in which you are in control are popular, and all that’s asked is for you to be vigilant and organized.

Inspired Budget outlines a lot of unique money-saving challenge options on its site. There, you can find a variety of common weekly savings budgets alongside rarer challenges. For example, in a weather-influenced savings challenge, a saver in Arizona decided to deposit an amount every week into his savings that matched his city’s high temperature that day.

Day Two: Cancel Your Car Insurance, Or Your Car

One of the bonuses attached to working from home is not having to endure the daily commute. As the pandemic eases and more employees return to the workplace, many people are rethinking their car use, especially given current gas prices.

Car insurance is a necessity but once bought, many drivers stick by their insurer even if they are overpaying. Using a site like EverQuote will provide you with a vast array of insurance options, and can potentially save you hundreds of dollars a year. Don’t discount pay-as-you-go insurance, either.

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Day Three: Round It Up

If you are still paying for goods and services with cash, used the time-tested system of putting your change away. It will accumulate. Most of today’s spenders, however, use cards or phones to buy products and services. The digital equivalent of the money jar is an automatic round-up app that funnels your “change” from purchases into a savings account.

Automatic round-up apps like Acorns (and …….


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