It costs twice as much these days to fill up your gas tank. The grocery bill rises every week. Kids need new shoes? Break out another couple hundred bucks.
Your budget is bleeding, thanks to inflation. How to stanch that financial hemorrhage? Hint: You can’t do it with thrift alone.
Sure, being frugal helps. But you can’t coupon your way to solvency, and brown-bag lunches or bringing your own coffee can get you only so far in an era of inflation.
Here are some qui
1. You’re not diversifying your savings
Putting all your money in one place – stocks, bonds, crypto, whatever – is a recipe for losing wealth, not building it. Diversification is key to financial security. Here’s an easy way to start: Buy gold and/or other precious metals from Oxford Gold Group.
Oxford Gold Group allows you to invest in a Gold IRA that adheres to Internal Revenue Service regulations. They also offer gold bars and coins, as well as silver (including silver IRAs), platinum and palladium.
Oxford has a 4.9-star rating (out of five stars) on Trustpilot, where 96% of reviewers call the company “excellent” and 4% call it “great.”
Oxford has an AA rating with the Business Consumer Alliance and an A+ rating with the Better Business Bureau.
If you’ve ever thought of investing in gold, click the link and check it out.
2. You’re wasting thousands on auto repairs
As a nation, we’re hanging on to our cars a lot longer: The average U.S. vehicle is now 12.1 years old. Trouble is, most of the big-ticket auto repairs happen long after the warranty has expired.
If you’re concerned about coming up with thousands of dollars for a repair bill, protect your investment with Endurance.
Endurance provides extended service plans of up to 36 months. These aren’t auto warranties, but they’re auto-warranty adjacent. Choose from among three types of plans, to get only the coverage you actually need, for cars up to 20 years old.
All plans include 24/7 roadside assistance plus rental car benefits while your vehicle is being repaired. For the first year, you’ll get the Elite Benefits program for free; this includes complete tire coverage, key fob replacement, a collision discount and a payment of up to $1,000 if your car is determined to be a total loss.
Endurance has a network of more than 350,000 ASE-certified repair shops. More importantly, Endurance pays the repair bill upfront. All you need to cover is the deductible.
I know. Extended car warranties are the poster child of rip-offs. But Endurance is the real deal. They have a 4.2-star rating with Trustpilot. ConsumerAffairs.com calls it “a solid choice” for drivers of any age and “particularly appealing” for those with older vehicles.
3. You’re still drowning in credit card debt
Being debt-free is a worthy goal, but one few of us can achieve. If you’ve got a debt problem, destroy it before it destroys you.
National Debt Relief is one of the most respected providers of debt relief in the country.
They’ve helped more than 500,000 people, are A+ rated by the Better Business Bureau and also top-rated by Top Consumer Reviews, Top Ten Reviews, Consumers Advocate and Consumer Affairs.
You simply fill out a form on the company website, then a debt coach will call you to learn more about your situation. If they can help you, they’ll set you up with an affordable plan that works for you — and give you an estimate of when you can expect to be debt-free. There’s no upfront fee and no obligation to get started.
National Debt Relief can help you with almost any unsecured debt, like credit cards, personal loans, medical bills, repossessions … even some student loan debt. Ready to start a new, happier chapter of your life?
4. You’re letting home repairs drain your savings
Home repairs aren’t cheap. Whether it’s a leaky roof or a broken appliance, your home can quickly become a nightmare and cost you hundreds or even thousands of dollars to keep up.
But you don’t have to worry. Luckily, with a home warranty company called American Home Shield, you can safeguard yourself against giant repair bills. From home appliances to electrical, plumbing, heating and cooling systems, it can all be protected.
AHS protects your stuff no matter the age. Their plans cover up to 23 appliances and systems, and if they can’t repair it, they’ll replace it. That’s why American Home Shield is America’s top home warranty company with more than 17,000 contractors and two million members.
All over America, homeowners are choosing AHS for the savings, service and peace of mind that it delivers
5. You’re not using a second set of eyes
Your money is obviously super important. Which is why you spend so much time and energy fretting over it.
But there comes a time in life when it makes sense to get a second opinion. Sure, you’ve been successful at growing and managing your savings. But the more you have, the more attention your savings require and the greater the ramifications of screwing up.
A Vanguard study found that, on average, a hypothetical $500,000 investment over 25 years would grow to $1.7 million if you manage it yourself, but more than $3.4 million if you work with a professional.
Obviously, there are no guarantees a professional will do better than you. But getting a second opinion from a pro certainly can’t hurt. Even if you don’t need help picking investments, they can help you create a plan, maximize your Social Security, protect your assets and offer peace of mind by ensuring you’re on the right track.
They can also be there in case one day you’re not.
These days, there are no-cost online services that make it easier than ever to find vetted financial advisers in your area. For example, SmartAsset. You fill out a short questionnaire and are instantly matched with up to three local fiduciary financial advisers, all legally bound to work in your best interests.
The process only takes a few minutes, and in many cases you’ll be offered a free consultation. What can it hurt?
Please carefully review the methodologies employed in the Vanguard white paper, “Putting a Value on your Value: Quantifying Vanguard Advisor’s Alpha.”
6. You’re not taking advantage of free resources
We’ve been in the business of offering personal finance news and advice for 32 years. Every day, in the Money Talks Newsletter we provide tips and advice to save more, invest like a pro and lead a richer, fuller life.
And it doesn’t cost a dime.
Our readers report saving an average of $941 with our simple, direct advice, as well as finding new ways to stay healthy and enjoy life.
Click here to sign up. It only takes two seconds. And if you don’t like it, it only takes two seconds to unsubscribe. Don’t worry about spam: We never share your email address.
Try it. You’ll be glad you did!
7. You haven’t dumped your overpriced car insurer
If you’re like most Americans, you’re probably paying too much for car insurance. But shopping around for a better deal can be a hassle.
Or is it?
Take a few seconds and check out Provide Insurance, the largest online marketplace for insurance in the U.S. Provide Insurance lets you compare quotes from more than 175 different carriers in the blink of an eye.
Just answer a few questions about yourself and your driving history. Then Provide will show you the best options for your needs and budget.
You could save up to $610 a year on car insurance by using the Provide marketplace. That’s money you could use for traveling, paying down debt or simply having more fun.