7 Money Moves People Who Make Less Than $60,000/Year Should Make This Year

There’s a lot of financial advice out there. But when it comes to managing your money, most things are not one-size-fits-all. Most of these decisions depend on your personal situation — your income, your expenses, your debt.

If you’re making less than $60,000 a year, the way you handle your money should be tailored to match that. But this can easily become overwhelming — what goal do you attack first? Budgeting? A savings plan? Debt repayment?

We have money moves you should make if you make less than $60,000 a year.

1. Make Sure You Have a Budget

No matter how much money you make, the first thing you should do is create a solid budget. It’s important to first get a clear idea of where your money is going, then create a plan and stick to it.

We get it, though. Budgeting isn’t fun. But you don’t need to spend hours on end playing with complicated Excel equations. The 50/20/30 budgeting method makes it super easy. It’s one of the most straightforward budgeting strategies, and it offers a lot of flexibility.

Here’s how it works:

• 50% of your income goes toward essentials.
• 20% goes toward financial goals.
• 30% goes toward personal spending.

Once you get the hang of it, you can tweak the ratios to fit your specific situation. Some people like to put more toward their savings, while others need a bit more for expenses. Take some time to find what works best for you and your goals.

2. Ask This Website to Help Pay Your Credit Card Bill This Month

If you have credit card debt, you know. The anxiety, the interest rates, the fear you’re never going to escape…

And the truth is, your credit card company doesn’t really care. It’s just getting rich by ripping you off with high interest rates. But a website called AmOne wants to help.

If you owe your credit card companies $50,000 or less, AmOne will match you with a low-interest loan you can use to pay off every single one of your balances.

The benefit? You’ll be left with one bill to pay each month. And because personal loans have lower interest rates (AmOne rates start at 2.49% APR), you’ll get out of debt that much faster. Plus: No credit card payment this month.

AmOne won’t make you stand in line or call your bank, either. And if you’re worried you won’t qualify, it’s free to check online. It takes just two minutes, and it could help you pay off your debt years faster.

3. Cancel Your Current Car Insurance

If you want to free up some extra room in your budget, one of the easiest places to start is to cancel your current car insurance.

In most places, it’s straight up illegal not to have it, so you’ve probably accepted that you’re going to pay through the nose for it. But you don’t have to.

If you look through a free digital marketplace called SmartFinancial, you could be getting rates as low as $22 a month — and saving yourself more than $700 a year.

It takes one minute to get quotes from multiple insurers, so you can see all the best rates side-by-side. Yep — in just one minute you could save yourself $715 this year. That’s some major cash back in your pocket.

So if you haven’t checked car insurance rates in a while, see how much you can save with a new policy.

4. Open Another Bank Account

If you don’t already have a hands-off savings account — in case of emergencies only — we recommend one. It’s a simple, mindless way to squirrel some money away.

Look for a high-yield savings account, so you can earn some interest on your money. Then, update your payroll settings to automatically funnel a percentage of each paycheck into that separate account.

What you don’t see, you don’t miss!

5. Add $225 to Your Wallet While Watching Movie Previews

If we told you that you could get paid while watching videos on your computer, you’d probably laugh.

It’s too good to be true, right?

But we’re serious. By signing up for a free account with InboxDollars, you could add up to $225 a month to your pocket. They’ll send you short surveys every day, which you can fill out while you watch someone bake brownies or catch up on the latest Kardashian drama.

No, InboxDollars won’t replace your full-time job, but it’s something easy you can do while you’re already on the couch tonight, wasting time on your phone.

Unlike other sites, InboxDollars pays you in cash — no points or gift cards. It’s already paid its users more than $56 million.

Signing up takes about one minute, and you’ll immediately receive a $5 bonus to get you started.

6. Secure Up to $1.5 Million in Life Insurance; Rates Start at Just $20/Month

If you make less than $60,000 a year and support a family, life insurance probably isn’t at the top of your list. But have you thought about how your family would manage without your paycheck after you’re gone?

No matter your income, now’s a good time to start planning for the future by looking into a term life insurance policy. And you don’t have to have millions of dollars to make this a smart move.

It doesn’t have to be difficult, either. With a company called Bestow, your application can take minutes — and, if approved, you could leave your family up to $1.5 million by spending a low monthly fee.*

The peace of mind of knowing your family is taken care of is priceless.

If you’re under the age of 54 and want to get a fast life insurance quote without a medical exam or even getting up from the couch, get a free quote from Bestow.

7. Download This App to Get Up to $500 in Free Stock

If you feel like you don’t have enough money to start investing, you’re not alone. But guess what? You really don’t need that much — and you can even get free stocks (worth up to $500!) if you know where to look.

Whether you’ve got $5, $100 or $800 to spare, you can start investing with Robinhood.

Yeah, you’ve probably heard of Robinhood. Both investing beginners and pros love it because it doesn’t charge commission fees, and you can buy and sell stocks for free — no limits. Plus, it’s super easy to use.

What’s best? When you download the app and fund your account (it takes no more than a few minutes), Robinhood drops a share of free stock into your account. It’s random, though, so that stock could be worth anywhere from $5 to $500 — a nice boost to help you build your investments.

*Bestow: Policies are issued by Bestow Life Insurance Company, Dallas, TX on policy form series BLI-ITPOL. Bestow Life Insurance products may not be available in all states. Policy limitations or restrictions may apply. Not available in New York. Our application asks lifestyle and health questions to determine eligibility in order to avoid requiring a medical exam. Prices start at $10/month based on an 18-year-old male rated Preferred Plus NT for a $100k policy for a 10-year term. Rates will vary based on underwriting review.