With talk of recession and all, money can get really tight. Here are my top ten hustles to save you money.
- Change your Witholding Tax – The taxes out of your paycheck each month, so yeah..in essence, you are giving the government a interest free-loan. Talk to your employer about reducing the amount of tax withheld off your paychecks.
- Consolidate Student Loans – Get all your student loans in order and start calling lenders to see which ones give you the best rate for consolidation. This will simplify your finance and set you on a debt free road. Check out this post for more info in the best lenders.
- Reduce Interest Rate – Pick up the dang phone and call them credit card issuers. Tell them you want to talk to a Retention specialist because you plan to Balance transfer off with another card if they don’t lower their interest rate. They do not want to lose your business, hence they will likely to lower your rate. Read the play by play here.
- Lower Cable bills – Either cancel all your entertainment needs immediately or call them to get a lower price. Most will give you $19.99 or $29.99 per month for 12 months on your internet bills. More info here with strategy here.
- Refinance Car Loan – If you are paying anything above 6% interest on your car notes, then you are paying too much. Refinancing will save you hundreds if not thousands. Join Penfed and see if you can get their 4.25% interest rate on car loans. Anyone can join Penfed by paying a one time $20 fee to the National Military Family Association.
- Get Rid of PMI – Do whatever it takes to pay off your home by 20% so you won’t have to pay the PMI on your mortgage. I would even borrow from family if needed. PMI is a waste of money since it’s an insurance on your home loans.
- Lower Cell Phone Bills – Use my methods by joining Sprint to get the cheapest phone plan. We regular pay around $50 a month for 5 phones with over 2000 minutes, free 6pm and weekends, free text, free internet, etc.
- Lower Utilities – start replacing the old light bulbs with CFL light bulbs, wash your air filters from your heater, Install a thermostat that adjusts automatically at night, seal your windows, etc.
- Home and Auto Insurance – Ask your friends and family what they are paying for their home and auto insurance. If yours is more, then you need to do some homework and call around to find a lower rate. Don’t worry if you are still in the middle of the year. You are not under any contract and can opt out anytime. They will reimburse for whatever months that is left. Amica seems to be the best deal with car insurance. Home insurance depends on where you live.
- Use Coupons – times are tough, so swallow your pride by starting using coupons where ever you shop, eat, etc. You can find many coupons here.
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Are there any legal issues with changing your withholding tax?