Close your eyes. Now imagine what you could do with a few thousand extra dollars.
Where did you see yourself?
Wherever it was, let’s take you there. Because there’s extra money all around you. You just need to know where to look.
Here’s a list of simple things you can explore that could bring more money into your life. They won’t all work for everyone, but read the entire list. There’s bound to be something here that’s going to work for you.
1. Borrow from yourself
The average credit card interest rate these days is approaching 25% — a record high. Sounds like what a loan shark would charge, doesn’t it?
Never borrow recklessly, but when it’s time, do it right. Take advantage of much lower rates by borrowing against your home. Use that loan — with rates as low as 6.75% — to fix up your house, to pay off high-interest debt or for any other purpose (besides financing a lifestyle you can’t afford).
That’s a fraction of what credit cards charge, and will literally save you thousands of dollars over the life of the loan.
How do you shop for the best deal? Simple: Head to a loan shopping site like Rocket Mortgage. They’ve eliminated most of the hoops you had to jump through in the past, so it only takes a couple of minutes to see how much you could get.
2. Get 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 you 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.
This could turn out to be one of those rare ideas that can offer you both more time and more money to enjoy it.
Please carefully review the methodologies employed in the Vanguard white paper, “Putting a Value on your Value: Quantifying Vanguard Advisor’s Alpha.”
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3. Hedge your bets
If a large part of your savings is in the stock market — as it should be — you’re well aware that what goes up can also go down; sometimes by a lot.
Another source of worry.
You can’t control the stock market or the world economy. But you can hedge against uncertainty by having other forms of wealth.
The oldest and most ubiquitous hedge is gold. It’s been used for thousands of years to protect against everything from inflation to currency devaluation to political risk.
Don’t go overboard; most pros advise putting only about 10% of your portfolio into the King Midas metal.
And keep in mind that not everyone in the gold business is on the up-and-up. Be careful whom you deal with.
Oxford Gold Group is one company to consider. They allow 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, give Oxford Gold a try.
Request Your Free Investors Guide Now
4. Stop worrying about going broke
You’re healthy now, but don’t kid yourself about the future. The government says there is an almost 70% chance that someone turning 65 today will need long-term care at some point in their lives.
Even worse for your pocketbook, 20% of people will need care for longer than 5 years.
With monthly costs for a private nursing home room running upwards of $9,000 a month on average, long-term care can quickly bankrupt you. Medicare doesn’t pay for ongoing care, and Medicaid will require you to spend almost everything you have before they help out.
The answer is to check out long-term care insurance. This product can be more affordable than you think, especially if you buy it early.
Without LTC insurance, your options aren’t great: running through savings, borrowing money, burdening your family with your care, and possibly losing independence because you can’t live on your own.
It’s impossible to say whether your current health will stay good. That’s why investigating long-term care insurance through GoldenCare is so important: It protects you and your family.
Note: GoldenCare does not operate in Alaska, Florida, Hawaii and Washington.
5. Dump 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 other things, like having time and more fun.
See How Much You Could Save Today
6. Eliminate your credit card debt
Worrying about debt is probably the worst way you can spend your time, and paying interest and late fees is the worst way you can spend your money.
If you’ve got a problem, the sooner you deal with it, the better.
National Debt Relief is one of the most respected providers of debt relief in the US.
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?
7. Pay less for travel and dining
The less you pay, the more you can do. And if you’re over 18, you can save hundreds every year simply by joining AARP.
Members get discounts on hundreds of things, like:
- Up to $200 person off flights
- Up to 30% off rental cars
- Up to 15% off restaurants
- Up to 20% off hotels
You’ll also save on eyeglasses, prescriptions, meal deliveries and lots more. And that’s not all. AARP offers a Fraud Watch Network, job listings, retirement planning tools, games and tons of information, programs and resources.
Anyone trying to save more and spend less can’t afford not to join AARP, especially since the cost is as low as $12 per year with auto-renewal. You’ll likely recoup the cost in the first week.
They even give you a free gift to sign up!
Create an Account and Get Started Saving Today
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