This 7-Day Savings Challenge Is Just the Glow-Up Our Bank Accounts Needed This Week
Not all of us are born to be organizational wizards, but if you want to get ahead with your money, you’ve got to get it under your control. It’s the only way you’ll get any of the big stuff done, such as paying off debt, taking a real vacation, buying a house or saving for retirement.
We get it, though. Not all of us keep everything neatly filed, color-coded, alphabetized and prioritized. And you don’t have to be.
Here are seven things you can do — in seven days — to get your finances under control:
Day 1: Invest $1 in the Stock Market
Take a look at the Forbes Richest People list, and you’ll notice almost all the billionaires have one thing in common — they own another company.
But if you work for a living and don’t happen to have millions of dollars lying around, that can sound totally out of reach. That’s why a lot of people use the app Stash. It lets you be a part of something that’s normally exclusive to the richest of the rich — buying pieces of other companies for as little as $1.
That’s right — you can invest in pieces of well-known companies, such as Amazon, Google or Apple, for as little as $1.**
The best part? When these companies profit, so can you. Some companies even send you a check every quarter for your share of the profits, called dividends.
It takes two minutes to sign up, plus Stash will give you a $5 sign-up bonus once you deposit $5 into your account.***
Day 2: See if You Can Get More Money From This Company
Here’s the deal: If you’re not using Aspiration’s debit card, you’re missing out on free money. And who doesn’t want free money?
Yep. A debit card called Aspiration gives you up to a 10% kickback every time you swipe.
Need to buy groceries? Free money.
Need to fill up the tank? Bam. Free money again.
You were going to buy these things anyway — why not get free money in the process?
Enter your email address here and link your bank account to see how much extra cash you can get with a free Aspiration account. Don’t worry. Your money is FDIC insured and under a military-grade encryption. That’s just nerd talk for “this is totally safe.”
Day 3: Ask This Website to Help Pay Your Credit Card Bill This Month
No, like… the whole bill. All of it.
While you’re stressing out over your debt, your credit card company is getting rich off those insane interest rates. But a website called Fiona could help you pay off that bill as soon as tomorrow.
Here’s how it works: Fiona can match you with a low-interest loan you can use to pay off every credit card balance you have. The benefit? You’re left with just one bill to pay every month, and because the interest rate is so much lower, you can get out of debt so much faster. Plus, no credit card payment this month.
If your credit score is at least 620, Fiona can help you borrow up to $100,000 (no collateral needed) with fixed rates starting at 4.99% and terms from 24 to 84 months.
Fiona won’t make you stand in line or call a bank. And if you’re worried you won’t qualify, it’s free to check online. It takes just two minutes, and it could save you thousands of dollars. Totally worth it.
All that credit card debt — and the anxiety that comes with it — could be gone by tomorrow.
Day 4: Cancel Your Car Insurance
When was the last time you shopped around for car insurance? Was it more than six months ago? If so, you’re probably overpaying — by hundreds of dollars. Yep. Experts say you should compare rates twice a year to get the best deal.
A service called Gabi can help you get cheaper car insurance — with the same coverage and deductibles you already have. It saves customers an average of $825 a year.
You don’t have to fill out any forms. Just link your existing insurance account and enter your driver’s license, and it will start looking for cheaper coverage.
To see how much you could save, start by visiting Gabi and entering the name of your current insurance company. Gabi will take it from there.
Day 5: Add up to 300 Points to Your Credit Score
When it comes to your credit score, it’s important to stay organized and keep tabs on it. After all, it’ll play an essential role in any big purchase you want to make — whether that’s a home or a car.
So if you’re looking to get your credit score back on track — or even if it is on track and you want to bump it up — try using a free website called Credit Sesame.
Within two minutes, you’ll get access to your credit score, any debt-carrying accounts and a handful of personalized tips to improve your score. You’ll even be able to spot any errors holding you back (one in five reports have one).
James Cooper, of Atlanta, used Credit Sesame to raise his credit score nearly 300 points in six months.* “They showed me the ins and outs — how to dot the I’s and cross the T’s,” he said.
Want to check for yourself? Enter your email address here and within 90 seconds Credit Sesame will show you what to do.
Day 6: The Easiest Day of the Challenge — Give Your Family up to $1M
A million bucks? Easy? Those probably aren’t two thoughts you normally put together. But seriously, today is the easiest day of our challenge.
It sounds too good to be true, but a company called Bestow could help you do this using something called term life insurance. This is something you can check off your list in minutes.
You can get a free quote from Bestow until you’re 54 years old, but the sooner you take care of this, the cheaper it will be. (We hear some people are getting it for as little as $8 a month.)
Today was meant to be simple, so go ahead and take the rest of the day off.
7. Cut Your Cell Phone Bill to $20/Month
Here’s one way to get a huge discount on one of your biggest expenses — your cell phone bill — even if you don’t have any fancy insider connections.
It’s a company called Pure TalkUSA, and right now, it’s giving new customers 50% off their first bill. Yep. Pure TalkUSA operates on the AT&T network, so you’ll get access to name-brand coverage without the price tag. Monthly plans start at $20 a line and include unlimited talk and text.
Making this simple switch could save you at least $70 a month… that’s $840 a year. (To see how much you could cut your bill, use the savings calculator.)
The best part is, you don’t have to sign any binding contracts in (what feels like) blood. Plus, if you’re not thrilled after your first 30 days, you can request a refund.
It takes no time to start making the switch, and you’ll definitely feel like a million bucks when you’re paying $20 a month for name-brand coverage.
**The Penny Hoarder is a Paid Affiliate/partner of Stash. This material is not intended as investment advice and is not meant to suggest that any securities are suitable investments for any particular investor. Investment advice is only provided to Stash customers.
***You’ll also bear the standard fees and expenses reflected in the pricing of the ETFs in your account, plus fees for various ancillary services charged by Stash.