Easy Ways to Save Money
As a solo-mom, it can seem impossible to find creative ways to make ends meet in an already too-tight budget. How does a one-income family do it? Although challenging, with the help of the internet there are many resources out there. One great shopping app is IBOTTA. It is very simple to use and you can earn cash back on your everyday purchases.
ACORNS is a simple investment and savings app that rounds up your debit or credit card purchases to the nearest dollar and invests the digital change. Investing your round-up change makes “cents”.
Credit is an area that is so important to focus on. The benefits of good credit can affect everything from interest rates on loans to future jobs. If your credit is less than great, there are steps you can take to get your credit score moving in the right direction. A credit tool that can help improve credit is a secure credit card using your own funds. As long as you are disciplined to make payments on time, you can build a positive history that will help to improve your credit scores. Check with your local bank. Several banks offer credit repair counseling and will work with you free of charge.
Financial guru, Dave Ramsey teaches the snowball method to pay off credit. If you have more than one credit card, he suggests that you pay the minimum on the larger one and make bigger payments on the smallest one. When the smallest one is paid off, add what you were paying on the smallest one to the next largest balance. It is a quicker way to “snowball” debt balances.
There are several money saving websites that have tons of ideas. Another Shepherd’s Village favorite is The Penny Hoarder. It’s a wealth of information (pun intended)!
As you can see, finding ways to save money can be fun. Don’t forget to include your kids. They can have fun learning to save, too.
What are some of your favorite apps and websites for saving money or getting ahead financially? Leave a comment below! We’d love to know what has worked well for you.