As we approach the end of the year, a lot of people will be getting their finances in order to prepare for 2024. But how do you hold onto more money next year?
There are five simple tips the financial experts at Nerdwallet say will help save money in 2024. Let’s dig a little deeper.
4 things to do before 2023 ends
1. Update your budget
Take a look at any unused subscriptions and cancel them. Also, swap products or services you won’t miss for ones that are cheaper or most cost-effective.
2. Take a look at what might be different in 2024
Planning a big wedding? How about a family vacation? Budget for those special events before you enter the new year. You don’t need to have the money now, but create a budget that allows you to save without last-minute changes.
3. Tackle high-interest debt
Find ways to lower your high-interest debt on credit cards. If your credit score is 690 or higher, you might be eligible for a balance transfer credit card, which allows you to move some of your high-interest debt to a lower rate. If you’re struggling to pay off that debt, a credit card counseling agency can help you get on track.
4. Negotiate your bills
Take some time to shop around for different bills. Some services, including your cellphone, internet, insurance and more, are negotiable. Use competitors’ pricing as leverage in your negotiations to secure the best possible deal.
5. Use credit card benefits
Your credit card probably has little perks that can end up saving you some money. For example, some cards offer credits on things like ride-sharing, food deliveries and even streaming services. Take a few minutes to look into all of the perks your credit card can offer; however, if you’re trying to pay off debt now, try not to charge more on your card than you can afford to pay off in full.
