Take the time to do the research and you’ll surely find a product or app that works. Investing is for you but with the right tools and apps, you can find success in your wealth journey.
- Cash-Back Credit Cards
If you can’t save or invest in stocks, then invest in rewards credit cards. Always remember: The key to saving or investing money is paying off your credit card debt, not the interest.
If you choose a credit card with a decent interest rate, you can find ways to increase the amount of money you’re paying every month.
The key to credit card rewards is not just to get rewarded, but to keep getting rewarded.
- Real Estate Investing Tools
If you plan on getting a mortgage, it’s crucial to understand how your credit is going to affect your monthly payments and ultimately how much you end up paying in the end. Mortgage tracking apps boasting an integrated real estate investment tool are one of the best ways to keep track of your loan and see your true costs.
- Credit Cards
The worst way to save or invest is to stick to the same type of savings or investment products you’ve been using for years.
If you do that you won’t know whether the price of a product has gone up or down and you won’t make the best decision to invest or save.
Great Ways to Maximize Your Savings And Invest
Add Funds to Your Credit Card
Get rewarded by getting more money to pay your credit card bill.
You can sign up for a credit card that pays cashback or rewards. For example, earn 1% cashback if you shop with Target, 1% cashback if you shop with Lowe’s, 1% cashback when you shop at Sears, and more.
You can also get higher rewards for paying off your credit card in full every month. In the past, I’ve got 2% back on my Costco card, 1% cashback on my Amazon card, and 3% cashback on my Capital One card.
The key to keeping your credit card debt at zero is never getting into debt and paying it off as quickly as possible. When you add a large amount of money to your credit card debt, you don’t just lose a small amount of interest.
Instead, you lose tens of thousands of dollars in credit card interest. The best way to keep your credit card debt at zero is to avoid getting into debt.
Automate Your Spending
Don’t spend money because it’s there, spend money because you’re actually going to buy something you can afford. That way, you’ll be able to stay on top of your budget and stay on track. Don’t spend money because it’s there, spend money because you’re actually going to buy something you can afford. That way, you’ll be able to stay on top of your budget and stay on track. Make every purchase consistent.
One of the biggest mistakes you can make when managing your money is spending money on something you don’t absolutely need.
Consistent spending means that you won’t miss a random purchase of a particular item or certain items on your monthly budget.