No one is flawless when it comes to managing money. It's a reality that we all stumble upon financial errors occasionally. Fortunately, we have the opportunity to seek assistance from experts. Here, we present eight actions you should avoid in handling your finances, along with the recommended alternatives.
1. Avoid paying excessive amounts for homeowners' insurance. Sometimes, homeowners' insurance policies can be exorbitantly priced, particularly if you haven't explored all the available options. Take a look at the offerings from an insurance company called Policygenius. Their insurance prices start at just $25 per month. Rest assured, you won't be compromising on coverage. Policygenius provides everything you need.
2. Don't overlook the significance of $1 million life insurance. No one likes to contemplate their passing, but it's crucial to ensure that your family will be financially secure when you're gone, mitigating the additional pain caused by financial concerns.
Consider a life insurance policy, which is neither as expensive nor as time-consuming as you may imagine. With a company called Bestow, you can complete the application in just a few minutes and potentially leave your family up to $1 million. Rates start at $8 per month. This option is especially favorable for individuals under 54 years of age, offering speed, exemption from medical exams, and the convenience of not having to leave your home.
3. Seek assistance in managing your credit card debt. Coping with credit card debt can be overwhelming, especially due to the exorbitant interest rates. Fear not! This is exactly the kind of situation where AmOne can provide support.
Here's how it works: AmOne offers low-interest loans to help you pay off your debt. This enables you to consolidate your payments into a single monthly bill, with a considerably lower interest rate. Consequently, you'll be able to pay off your debt much faster. Check online to see if you qualify; it's free and only takes a couple of minutes. You won't regret it.
4. Avoid squandering money on car insurance. Consider the amount you currently spend on car insurance—it's likely too much. To simplify the process of choosing car insurance and finding the most cost-effective coverage, we recommend using Gabi.
Gabi is a free service that allows you to compare offers from different companies and identify the cheapest rates that meet your requirements. The best part is that you don't need to fill out any forms. Simply link your insurance account and driver's license. On average, Gabi customers save up to $825 per year. Furthermore, if you sign up, the service will notify you of any price drops, enabling you to save even more.
5. Don't miss out on the opportunity to acquire free stocks. The stock market is notorious for its unpredictability—stocks constantly fluctuate, and the journey can be unpleasant.
However, you can quickly change this situation by acquiring some free stocks. Unbelievable, right? Explore Robinhood, a platform that offers exactly that. With Robinhood, you can receive free shares from companies like Facebook and Microsoft.
Robinhood appeals to everyone because it allows the option to invest as little as $1, without any commission fees. Buy and sell as many stocks as you desire. To claim your free stock, simply download the app and make a small investment. Afterward, you'll receive a free stock worth anywhere from $5 to $500.
6. Cease paying more than $15 per month for your cell phone plan. Overpaying for your smartphone plan is avoidable. Twigby can provide you with the same level of service you already receive but for just $15 per month. Additionally, you have the freedom to customize your plan according to your needs. All plans include unlimited texts, and you decide the amount of data and minutes required.
Twigby utilizes the Verizon and Sprint networks, and new customers enjoy a 25% discount for the first 6 months.
7. Don't neglect the importance of your credit score. Your credit score acts as a financial fingerprint, influenced by all your actions in the financial sphere. It's imperative that we have specific strategies to enhance our credit scores. But where do we start?
Credit Sesame is a free service that can assist you. It analyzes your credit report and provides detailed information along with specific steps to dramatically improve your credit score.
