Over the past few months, we’ve offered a number of financial strategies to help save money, and reduce debt. A number of them are millennial-friendly, long-term strategies that include assessing and prioritizing your debt and building a savings fund. As rewarding as these approaches can be, they don’t necessarily offer instant gratification, which is why we’ve come up with this handy list of three financial hacks that will reap quicker rewards.
Get the Right Credit Card
Speaking of reaping rewards, make your credit card work for you by switching to a card that will ensure you maximize the rewards that mean the most to you, whether it’s cash back or travel. NerdWallet came up with a list of the best rewards credit cards for 2016 and The Points Guy has a great site to help you maximize your rewards points.
Get a Side Gig
A side job is a great way to help you save money and reduce your debt. And in today’s gig economy, it’s easier than ever to find freelance and contract positions, whether you live in Mumbai, Manila or Montauk. Supplement your income by looking for work on these sites:
Contribute to your IRA in a Snap (The US only)
Save on taxes by making a contribution to your IRA (Individual Retirement Account). In most cases, when you contribute to your IRA, the IRS allows you to deduct that amount from your overall tax bill. It’s as easy as linking your checking account to your retirement account. Check with a tax pro or visit the IRS website to see if your contribution qualifies for tax-deductible status. You’ll thank yourself later!
These hacks will go a long toward helping you take control of your finances and plan for your future.