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How to Improve Your Finances? 

Got an hour? 

There’s no better time like the present to take control of your money. The good news is that this doesn’t take a lot of time. In fact, you might be surprised by how much you can accomplish in just one hour. So here’s a look at what to do in the next 60 minutes to improve your finances.

1. Unsubscribe to one or two retail emails (5 minutes)

Retail coupons aren’t really designed to help us save money. They’re designed to do the opposite – make us spend money! Be honest: How many times have you bought something (that you had no intentions of buying) just because you had a coupon. This happens to a lot of people, and I’m convinced that retailers know exactly what they’re doing.

To remove the temptation and improve your finances, take about five minutes and start unsubscribing to retail and restaurant offers.

2. Create a “junkmail” email (5 minutes)

Even if you’re onboard with unsubscribing, you might want to continue receiving offers from certain retailers. If so, consider modifying these subscriptions and spacing out the frequency of emails, or send these offers to a different email address.

As an option, create a new email specifically for junk mail, and only check this account when you’re planning to buy an item.

3. Negotiate a credit card rate (10 minutes)

Did you know that credit card rates are negotiable? This is especially true if you’re a good customer and always pay on time. And trust me, you want a better rate. 

How can this improve your finances? For starters, paying less interest means that more of your monthly payment will go toward reducing your principal balance, which helps pay down the balance faster.

I’ve negotiated my rates in the past with no issue. Just know that there’s no guarantee that you’ll get a better rate. Even so, there’s no harm in asking. The worse they can say is no.

Some customer service reps don’t have the authority to change rates, so you might need to speak with a supervisor. And sometimes it helps to call back another day. You might have a different outcome with a different person.

If you don’t know what to say, this script might help:

Hello. My name is ____ and I’ve been a (name of card issuer) customer for (number) years.

I feel I’ve been a good customer and I’d like to keep doing business with you. However, my APR seems high and I’d like to talk with someone about that. Is that something you have the authority to change?

4. Open a high-yield savings account (15 minutes)

Many people use a regular savings account with their local bank. These accounts aren’t bad, and they’re a great place for “some” of your money. For the majority of your cash, though, you should really consider an online high-yield savings account.

These savings accounts can improve your finances because they earn a higher rate compared to a regular savings. Additionally, a lot of them don’t charge monthly fees. You’re not only earning more, you’re saving more too. There are many options and one of my favorites is CIT Bank’s Savings Connect. 

Getting started is easy: Open an account online, link an external checking or savings account, and then transfer funds into your account. It’s that easy!

5. Start investing with Acorns (10 minutes)

Saving money is incredibly important. This can give peace of mind because an account protects against the unexpected. But saving alone isn’t always enough, so at some point you should think about investing – especially if you’re trying to improve your finances

I realize this can be intimidating. Therefore, I suggest starting with a micro-investing platform to get your feet wet and become more comfortable. One recommendation for beginners is Acorns Invest. It has a robo-advisor model, so it’ll build a portfolio based on information you provide.

You can make one-time contributions into your account at anytime, or set up recurring transfers starting at only $5. In addition, there’s an automated savings tool. Link your credit or debt card and Acorns will round up your purchases to the nearest dollar and invest the difference.

I think it’s perfect for beginners – you can save and invest without thinking about it. As a bonus, use my referral link and Acorns will give you $10 to start. 

6. Fill knowledge gaps (15 minutes)

Personal finance can be complicated, and I feel that some people shy away from topics that seem complex.

However, feeling more confident about financial matters is all about education. So think about areas where you lack understanding, and then read a blog post or watch a video on this topic – whether it’s credit management, debt management, investing, etc.

Take notes on the subject, and make an effort to learn beyond the basics. Ideally, you should know enough to where you’re able to explain the topic when you’re able to explain it to another person. 

FAQ About Improve Your Finances

How do I improve financially?

To improve financially, start by creating a budget to track income and expenses. Cut unnecessary spending and prioritize saving. Consider additional income sources like side gigs or investments. Pay off debts systematically and avoid high-interest loans. Educate yourself about personal finance and seek advice from reliable sources. Consistency and patience are key.

How do I rebuild myself financially?

To rebuild yourself financially, start by assessing your current situation honestly. Create a realistic budget and stick to it. Focus on paying off debts systematically and consider consolidating them if possible. Build an emergency fund for unexpected expenses. Increase your income through additional work or freelancing.

What are easy ways to improve my finances?

Easy ways to improve your finances include creating a simple budget to track your income and expenses, cutting unnecessary spending, and setting up automatic savings. Paying bills on time avoids late fees, while seeking out discounts and shopping smart saves money. Considering side hustles or selling unused items boosts income, and reviewing financial goals regularly keeps you on track.