You'll have more money in your pocket each pay period and you won't be making an interest-free loan to Uncle Sam all year. Lower your student loan payment. If you are getting one, that means your money has been working for the government — not you — all year long. Comparison shop for health care if you're uninsured.
There could be unclaimed money from bank accounts, insurance policies and safe deposit boxes hanging out unclaimed in your name! Use free online budgeting tools to register your accounts and your spending will be automatically tracked. Funds are labeled by your expected year of retirement — say, 2030 or 2045 — and the portfolio's risk is automatically adjusted as the date approaches.
Reduce your withholding. If you don't have health insurance, or you have a big out-of-pocket expense with health insurance — say you're in a high-deductible plan and it really matters what you're going to be charged — there's a website called PriceDoc. The radio and TV consumer expert, nationally syndicated on over 200 radio stations throughout North America, enlightens his listeners into saving more, spending less and how to avoid getting ripped off.
Go no contract for cell service. Howard is in the business of what he calls "consumer empowerment"; Go Banking Rates is doing the same this month for its Financial Literacy initiative, and sat down with Howard to get his 10 takes on some quick money saving tips.
People will often come up to me around tax time and happily ask for advice on what to do with their giant refund. You'll save a bundle and reduce the risk that your insurer will cancel your coverage because you made too many claims.
People always tell me they have no idea where their money goes each pay period. Never buy an extended warranty on electronics. Razor blades don't degrade from the act of shaving, but instead from the moisture that collects on them after you leave them in a puddle somewhere in a wet bathroom. Locate missing and unclaimed money in your name.
I have a simple rule about student loan debt: In your retirement plan at work, do you have access to target-date retirement funds? It allows you to put doctors and providers into competition with one another to provide the best cash prices for medical care.
Besides, the failure rate on flat-screen TVs, for example, is only three percent in the first four years of ownership, according to Consumer Reports.
Simply go to MissingMoney. I routinely take a disposable razor and make it last 6, 9 or sometimes even 12 months. HLN Look up " financial literacy " in the dictionary and no doubt you'll find a picture of Clark Howard. Now if I could just figure out a way to shave without spending a dime on shaving cream!