No one is perfect when it comes to their finances, even millionaires make mistakes sometimes.
So when you start to think that you are worse off than your parents, your nephew, or your friends, remember that all twentysomethings have made mistakes that can cost them a lot.
But if you are guilty of making some of these mistakes, don’t worry. You can still redeem yourself! Here are some of the worst mistakes you can make and some tips to help you get out of the hole.
Error n. # 1: don’t get free gift cards when you shop
What do you usually do with your receipts? Take a look, a mile-long piece of paper is handed to you, and you frantically tuck it into the bottom of a shopping bag. Pretty useless.
But a free app called Fetch Rewards will turn them into gift cards. Partners with tons of brands to give you points for every shopping receipt you share. You can then exchange them for gift cards at places like Amazon, Walmart, Chipotle, and dozens of other retailers.
And it’s perfect for those of us who don’t want to work hard on this. All you have to do is send Get a photo of your receipt and it will do it all for you. No barcode scanning or bargain hunting, and you can use it with any purchase receipt.
When you download the app, use the code PENNY to automatically earn 2,000 points when you scan your first receipt. Then start taking photos of your recent receipts to see how many points you can earn without a single trip to the store!
Not too bad for a useless receipt, right?
Error n. # 2: earn nothing from your savings
You’ve probably heard that the best way to grow your money is to save it in a savings account and leave it there for, well, forever. That is bad advice.
But maybe you are just looking for a place to store it safely, but still make money. Under your mattress or in a safe you will get nothing. And a typical savings account won’t do you much better. (Ahem, 0.05% is nothing these days).
But a debit card called Aspiration allows you to earn up to 5% cash back and up to 20 times the average interest on the money in your account.
It’s not bad at all!
Enter your email address here for a free Aspiration Spend and Save account. After confirming your email, securely link your bank account so they can start helping you earn extra money. Their money is FDIC insured and they use military grade encryption which is nerdy language because “this is totally safe.”
Error n. # 3: paying too much interest to credit card companies
If you have credit card debt, you know. Anxiety, interest rates, fear of never escaping …
And the truth is, your credit card company doesn’t really care. You are simply getting rich by scamming it with high interest rates. But a website called AmOne wants to help.
If you owe your credit card companies $ 50,000 or less, AmOne will match you with a low-interest loan that you can use to pay off each of your balances.
The benefit? You will have an invoice left to pay each month. And because personal loans have lower interest rates (AmOne rates start at 3.49% APR), you will get out of debt. what Too much faster. Plus: No credit card payment this month.
AmOne keeps your information confidential and secure, which is probably why after 20 years in business, it still has an A + rating with the Better Business Bureau.
It takes two minutes to see if you qualify for up to $ 50,000 online. You need to give AmOne a real phone number to qualify, but don’t worry, they won’t spam you with phone calls.
Error n. # 4: paying too much for car insurance
When was the last time you checked car insurance prices?
You should buy your options every six months or so, as it could save you a lot of money. However, let’s face it. It’s probably not the first thing you think of when you wake up. But it does not have to be like that.
A website called Insure.com makes it easy to compare auto insurance prices. All you have to do is enter your zip code and your age, and it will show you your options.
With Insure.com, people have saved an average of $ 489 a year.
Yes. That could be $ 500 back in your pocket just for taking a few minutes to look at your options.
Error n. 5: think you don’t have enough money to invest
Take a look at Forbes’ Richest People List and you’ll notice that almost all billionaires have one thing in common: They own another company.
But if you work for a living and don’t have millions of dollars lying around, that may seem totally out of reach.
But with an app called Stash, it doesn’t have to be. It allows you to be a part of something that is normally exclusive to the richest of the rich – at Stash you can buy parts from other companies for as little as $ 1.
That’s right, you can invest in parts of well-known companies like Amazon, Google, Apple, and more for as little as $ 1. The best part? If these companies make a profit, you can too. Some companies even send you a check every quarter for your profit share, called dividends.1
It takes two minutes to register and is completely secure. With Stash, all your investments are protected by the Securities Investor Protection Corporation (SIPC); That’s what the industry says: “Your money is safe.” two
Also, when you use the link above, Stash will give you a $ 5 sign-up bonus once you deposit $ 5 into your account. *
Error n. # 6: assume life insurance is expensive and time consuming
Have you thought about how your family would manage without your income after you left? How will they pay the bills? Send the children to school? Now is a good time to start planning for the future by looking at a term life insurance policy.
You’re probably thinking: I don’t have time or money for that. But your application can take minutes and could leave your family up to $ 1 million with a company called Bestow.
Rates start at just $ 16 a month. The peace of mind of knowing that your family is well cared for is priceless.
If you are under 54 and want to get a quick life insurance quote without a medical exam or even getting off the couch, get a free quote from Bestow.
1Not all stocks pay dividends and there is no guarantee that dividends will be paid each year.
twoIt should be noted that SIPC coverage does not insure against potential loss of market value.
For securities priced above $ 1,000, the purchase of fractional shares starts at $ 0.05.
* The offer is subject to promotion. Terms and Conditions. To be eligible to participate in this Promotion and receive the bonus, you must successfully open an individual brokerage account per day, link a fund account to your Invest account AND deposit $ 5.00 into your Invest account.
The Penny Hoarder is a paid affiliate / partner of Stash.
Investment advisory services offered by Stash Investments LLC, an SEC-registered investment advisor. This material has been distributed for informational and educational purposes only, and is not intended to be investment, legal, accounting, or tax advice. Investing involves risk.