While you may not get excited over talking about financial advice, it’s important to get a handle on it. Burying your head in the sand isn’t going to pay your bills or balance your checkbook — if you even have a checkbook anymore! Technology improves our lives in new and offbeat ways. Did you think 10 years ago that you’d tap your phone and you’d get a car right at your door ready to whisk you someplace? Why wouldn’t we use tech to streamline our personal finance routines? Digitizing your life can have a bonus effect on your wallet. That’s why Capital One teamed up Digital Lifestyle Expert Katie Linendoll to provide some financial life hacks to help you save and bank more ways using digital tools and the latest technology. I’m excited to partner with them to share Katie’s tips and a few of my own. Saving your family money is always a good thing.
Did you know that Cable price hikes have averaged 5.9 percent a year since 1995, according to the FCC.
I have some more stats for my NYC Readers:
- We pay more by mobile — 51 percent of New York City survey respondents made a mobile payment in the past 12 months, which was more than double the national averages. *SOURCE: A mobile service study done by gov.
- We buy more gifts — New Yorkers spend 18 percent more than the national average on gifts annually. *SOURCE: A survey by Onboard Informatics.
- We make more money – Households in the New York, New Jersey and Connecticut metropolitan area spent an average of $63,193 per year in 2013-2014, which was over $10,000 higher than the average expenditure level for households in the United States. *SOURCE: Bureau of Labor Statistics
Check out Katie Linendoll’s Top Financial Hacks to Help You Save Money:
Katie’s Top Tips to Bank & Save More Ways
- Trade in your old tech for cash. Have some old phones and tablets lying around? They could be worth a couple hundred bucks. Many internet trade-in sites and retail stores will offer gift cards and even free shipping for your old tech through something called “recommerce,” aka reverse commerce. If you can make money off old things lying around, do it!
- Cut the cord. The average cable bill per household is around $99 per month, and most people only watch a handful of those channels. A one-time purchase of a media streaming device costs about the same as a single month of cable. Subscribe to your favorites and you can save around $1,000 a year*. *SOURCE: An annual survey by Leichtman Research Group
- Make your home smarter. Strengthening your financial IQ begins at home. Enhancing your home life with smart products can save you time, energy and money. By switching to a smart thermostat, which can turn on and off when you need to, you’ll save up to $145/year.* *SOURCE: Nest
- Take charge of your spending (and saving). Many Americans struggle to come up with emergency expenses, which makes having the flexibility to bank more ways all the more critical. Enroll with a bank like Capital One, which offers great digital tools and services – such as Online BillPay, Enhanced Transactions, Mobile Check Deposit and Personalized Alerts – which ultimately work harder for you and your bottom line.
- Google Docs! Make a monthly budget in google docs for you and your partner to both have access to – plan out monthly expenses and have a tab where you set aside a “weekly allowance”. If you buy something online or with your credit card, make sure to deduct that expense from your allowance so you know how much you have left. You can also take the cash out of the bank and do what you want with it. But if you are a heavy amazon prime shopper, like I am, know what you can afford to spend!
- Turn off electronics when you aren’t home. I try to turn off electronics that use a lot of power when we go on vacations or weekends away. This is not a big saving money tip, but by shutting off your internet router, tv’s, stereos, laptops, etc. when you aren’t home, you’ll save a little money and it will also help you be greener.
- Save Money on Online Shopping ! Speaking of online shopping, I always check ebates or Honey (which finds me the best prices on Amazon and other stores right in my Chrome Browser) to make sure I save money as a shop online. Both Ebates and Honey comes up right as I online shop, so I don’t even have to think about it. I also look for promotional codes on Retail Me Not and Coupon Cabin. I bought a winter jacket recently and checked around for coupon codes before I bought and saved over $20! I tend to only buy when I’m on my laptop, if you use your phone for shopping, Ebates also has a mobile app.
- Cartwheel from Target Clips Coupons paperlessly! I am a huge Target shopper and I use the Cartwheel app to clip coupons when I’m at the store (okay, it’s my happy place). I can scan what’s in my cart and Cartwheel will search to find me a match or suggest something that is on sale. I saved $30 on my bill last week.
- Save money with Chuze! You’ve heard me talk about Chuze before and it’s even better now. Chuze is a free shopping list app for iOS and Android that changes the way people shop for groceries. Save time and $.The average grocery store carries 42,214 items! Chuze helps you navigate by organizing mobile shopping lists by aisle tailored to your local grocery store. Over 10,000 stores (Almost 1/3 of US Supermarkets) across the country have been mapped out by Chuze for automatic aisle ordering, so you can get in and out faster, which is especially important considering people spend 16% more due to unplanned purchases and walks down the wrong aisles. Chuze has partnered with CPG brands AND teamed up to pull 400+ coupons from Coupons.com to offer additional savings conveniently at a user’s fingertips the moment that they start to plan their shopping list and meals for the week. Download Chuze for iOS or Android for FREE!
More Information about Capital One
- By scheduling automatic payments with features such Capital One’s Online Bill Pay, you’ll have better peace of mind that your bills are being paid on time, every time.
- Capital One personalized account alerts allow you to keep up on all your banking activity. Forgot about the late night online shopping spree? Alerts will keep you honest—and accountable.
- Mobile Check Deposit (like the feature offered by Capital One) not only ensures that money goes straight into your account, but it saves you valuable time, too.
- Capital One Enhanced Transactions gives you a full snapshot of transaction details, like purchases, ATM withdrawals, merchant names/logos and a bunch more. Plus, an easy-to-read pie chart gives you a quick glimpse of the categories where you’re spending your money. Seeing it laid out like that might make you reconsider when and where to splurge.
Note: I actually am a Capital One Customer and depend on these features! I can’t tell you how many times that mobile check deposit has helped me (it’s sometimes really hard to get to the bank when it’s open as a working mom!). I also love the Enhanced Transactions — it helps my husband and I go over our finances and make sure we’ve spent what was on the budget — while it stinks to have to adult, we have to.
Read more tips by Katie here: http://www.katielinendoll.com/blog/financial-hacks-to-help-you-save-1
What are your best financial hacks to save money?
9 Financial Hacks To Save Families Money