In case your hire is greater than $ 1,200 / month, make these 6 strikes

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If you pay more than $ 1,200 a month for the rent itself, it means two things:

It stinks to pay so much rent, and
You clearly have a certain income. Not everyone can afford this rent.

So you make money and live in a decent place. You finally have a small pillow in your bank account. They have achieved some financial stability.

What should you do next? We have six suggestions for you:

1. Give your credit a boost to save money on future bulk purchases

You're doing pretty well. You have a decent living space, make your rent payments – you are not overly concerned about your creditworthiness. Maybe you do not think so much about it.

But what happens if you want to buy a house? Or a car? Even a difference of five points in your creditworthiness can make a big difference. For this reason, it is important to keep track of your credit worthiness, which you can do for free via Credit Sesame.

Take the example of JP Clayton, a software consultant from Florida, who bought his first home with his wife Ashley. When they finally found the house they wanted, JP's credit score had dropped five points.

They had to settle for a 4% interest rate that cost them $ 15,000 over the life of their 30-year loan.

If you want to make sure your credit score is in top condition, Credit Sesame can help, Just open an account – it takes 90 seconds – and Credit Sesame will describe exactly what you need to do to boost your balance

2. Protect everything in your home for only $ 5 / month

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While you rent, you want to make sure that you protect your belongings. You do not know what your neighbor is up to or how strange the weather could be today. So make sure you're covered.

The average person in the US pays 187 USD per year for a tenant insurance, however, with lemonadeYou could only pay $ 5 a month, less than half the average price.

And just because you only pay $ 5 does not mean that you have less coverage. Actually, lemonade Pays out 30% of his claims immediately. It even holds the world record for paying a claim in just three seconds!

Even better? No calls. No lengthy registration process. Nothing. The entrance takes only 10 minutes.

3. If you can not lower your rent, lower your credit card bill

If They are like most of us, two of your biggest financial burdens are rent and credit card debt. High credit card bills complicate the monthly payment of the rent considerably.

One problem: Your credit card companies get rich by fooling you at insane rates. However, a company has called Fiona could lower your monthly payment.

Here's how it works: Fiona compares you to a low-interest loan that allows you to repay all your credit card balance. The advantage? You only have to pay one bill per month. Since the interest rate is so much lower, you can reduce your debt much faster.

If you fear that you will not qualify, this is free check online, It only takes two minutes and you could save thousands of dollars. It's definitely worth it.

If you spend less on interest, you relieve the rent.

4. Invest like a hedge fund (you can start with $ 500)

We know that you have to pay rent, but that does not mean that you should not plan for your future. You can start investing immediately, even if you only make a small contribution each month.

An app called titanium Allows you to invest in hedge funds even if you do not have a quarter of a million dollars. All you need is $ 500.

titanium is a simple, easy-to-use investment app that reflects the financial movements of the best hedge funds. It invests money in top stocks based on what all these hedge funds have bought – because it knows they are best equipped for growth.

All three of titaniumCo-founders are former hedge fund people who are now heavily invested in their Titan portfolios – the same stocks in which they would invest their money. The launch of your investment portfolio takes only a few minutes.

The company earns an annual fee of 1% on what you invest.

5. Even tenants can easily start saving

Even if you can calculate the rent month after month, sometimes it is difficult to find money for a savings account.

But the thing is, you probably have more money for savings than you think. An app called digit Look at your budget and automatically find money to stash.

Personal finance editor Matt Wiley has saved $ 1,857 in a year without thinking. "It feels weird to say that I saved because I really did not do anything," he says.

Digit examines your spending patterns and shows exactly how much you can save. It knows when to save and when to slow down, so that your credit is not too low. Is the rent due soon? It will be easy for you. Was just paid? Sweet, let's put some of it away.

To begin, download digit and connect your checking account. From there you can start. Your first 30 days are free, then it's $ 5 a month. Not bad, considering how much it helps you save.

Who knows – you could even one day start saving for a down payment at a house.

6. Save up to $ 865 a year on auto insurance

It may be difficult to negotiate the rent, but you can negotiate some of your other monthly bills – such as car insurance. When was the last time you were there? Was it more than half a year ago?

If so, you are probably paying too much and possibly hundreds of dollars. Yes. Experts say you should compare the rates twice a year to get the best deal.

Two times a year? Yes, we do not want that either.

A service called Gabi Do all the shopping for you to find cheaper insurance – with the same coverage and deductible you already have. This saves customers an average of $ 865 per year.

You do not have to fill in any forms. Simply link your existing insurance account and enter your driver's license. Then it is searched for a cheaper insurance coverage.

After you sign up, Gabi will do it too keep looking for savings. Never shop anymore.

Mike Brassfield[emailĀ protected]) is a senior author at The Penny Hoarder. He does not pay rent, but has a mortgage, and that's huge.

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