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.
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:
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.