Time: Useful Finance Hacks to Make Your Life Easier

Everyone is always in search of financial hacks to save money. Fortunately, there are several

ways to save money in every area of your life. Here are three personal finance hacks you should

take advantage of immediately.

Use the Equity in Your Home

Borrow against the equity in your home. If you have equity in your home and you need a loan,

use personal loans as a last resort. Personal loans from your bank usually come with higher

interest rates. The terms of the home equity loan will usually have a lower interest rate. You are

more likely to be approved for the loan if you have always made consistent timely mortgage

payments. If you will not be able to make all your loan payments on time, you should not take

out a home equity loan. Being late on your loan could put you in jeopardy of losing your home.

Consider a Zero Interest Credit Card

If you have a high credit score, you should consider signing up for a zero interest credit card.

Most credit card companies offer customers with good credit an introductory zero percent

interest rate. You can take advantage of this in the first few months of signing up for a credit

card. If you carry a balance on other cards, you should transfer the balance over to your new

credit card. Most credit card companies will charge a small fee for moving your balance to a

credit card with a lower interest rate, so it is best to only transfer large balances to zero interest

credit cards.

Make Yearly Insurance Payments

Most states require all drivers to have car insurance, and most drivers pay their car insurance

every month. When you pay your car insurance monthly instead of yearly, you are losing money.

Most car insurance companies charge a higher fee for monthly payments. Companies prefer a

large lump some payment. It makes their accounting easier, and it reduces insurance mistakes. If

you have money from a windfall in your savings account, consider using that money to make one

large payment towards your car insurance.

Implementing these money saving hacks into your financial plan will allow you to have money

for things you desire. Take the money you saved and go on a vacation, or use the extra cash to

upgrade your home. The possibilities for fun are limitless.

Roman Temkin is a real estate developer from Russia who currently lives in NYC.