Everything from your internet bill to your cable package to your cell phone plan is pretty much negotiable-opening the door for hundreds of dollars of savings. Those who are willing to put in a little bit of effort may be able to bring down their spending simply by asking. Skim over your budget and zero in on recurring expenses. Staying diversified with a good mix of different securities is the best way to set yourself up for overall growth. (Think of it as a nice little cherry on top.) Just don’t neglect the rest of your portfolio. Dividends are payouts some companies dole out to their investors in addition to regular returns. Is investing already part of your financial routine? Upping your efforts is one way to save even more for the future. If that’s not an option, an individual retirement account (IRA) is another great way to grow your wealth over the long term. Look to your 401(k) to get started, especially if your employer offers any sort of match. Try our compound interest calculator to see for yourself! Mutual funds and exchange-traded funds (ETFs) are your friend here. If you haven’t already begun investing, the time to get in on the action is always now-thanks to the power of compound interest. There are plenty of side hustles out there that require little effort to get off the ground-from completing micro tasks to taking surveys. If moonlighting as an Uber driver isn’t your thing, don’t be afraid to think outside the box. It isn’t all that surprising that 37 percent of Americans are cashing in. The average side gigger earns over $8,000 per year on top of their regular income, according to a 2018 Bankrate survey. Landing a steady side hustle or two could be just the thing to bump up your savings account. Getting slammed with interest negates any cash-back rewards.) Just be sure to pay off the balance at the end of every billing cycle. The key is to use them only for essential purchases you were planning on making anyway: think gas, groceries, your phone bill and so on. Many rewards cards will throw in sign-up bonuses to boot. The Chase Freedom Unlimited card, for example, lets you earn unlimited 1.5 percent cash back every time you swipe your card. If you have the discipline to use them responsibly, cash-back credit cards can unlock a steady stream of free money. Read on for some simple ways to start saving money now and make it a reality-not just a resolution. When establishing any habit, a little bit of intention goes a long way. Sixty-five percent of Americans kicked off the year with a financial resolution-and of those, nearly two-thirds said that building a habit of savings was their top strategy, according to a CIT Bank survey. Raise your hand if you’d like to save more money.
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