One of my favorite parts about this season (besides the changing of the leaves and the beautiful outdoor weather) is the extra hour we get when we ‘fall’ back when Daylight Savings Time ends.
That golden hour has so much potential.
Don’t believe me?
I want to show you how to use that one hour (even less) to save yourself a ton of money.
Here are 10 quick ways you can make some big changes.
- Check Your Credit Report for Mistakes: Your credit score has a huge impact on the rates you get for mortgages, car loans, and even insurance. If you have an error on your credit report, it can be costing you a ton of money.
- Create a Spending Plan for the Month: If you’re going to be traveling soon, now is a good time to watch your money. Go ahead and create a budget. Not a fan of planning? Keep it easy by using free tools like Mint to create one. You can also set it up to email or text you when you get close to your limits.
- Setup Cash Envelopes: Don’t want to do a complete budget? Try using the cash envelope system to keep an eye on your problem areas. Set aside the money you’ll use for eating out. Once the money is done, brown bag it for the rest of the month.
- Automate Your Bills: Avoid paying late fees again by having your bills paid automatically. You can have your payments taken out of your checking account automatically instead of paying from bills mailed to you; it’ll be less stressful.
- Create a buffer in your checking account. This is not an emergency fund. Having a buffer in your bank account protects you from small unexpected expenses or irregular bills you may have forgotten were coming up.
- Start a savings challenge with your friends. Looking to buff up your savings? Gather a few of your friends and compete against one another to see who can save the most. One of my favorites is doing $20 date nights.
- Start a side hustle. If you have a talent that you’d like to hone and earn some cash, making it a side hustle can pay off.
- Clean out your wallet. Simplify your life and finances by removing credit cards you don’t need. Make sure you also take out receipts (keeping the ones you need for taxes later).
- Negotiate a better deal on one of your bills. Pick up the phone and see if you can get a lower price on either your cell phone, cable, or insurance. Even if you knock off $20/month from your bill, the saving continues, giving you an extra $240 per year.
- Write down your goal for the next year. Not to be sappy, but your finances are the how, your dreams and goals are the what. Once you sit down and think about your plans, it gets much easier to work towards them.
Okay so there you have it – one hour can save you a significant amount of money. What will you do with your extra hour this year?