Evaluating your 2023 financial choices, good and poor, is a good idea after the expensive holidays.

You could have taken that trip, paid off that debt, or saved more money. Consider your spending patterns and the costs that impede your progress. Additionally, make adjustments that will enable you to reach your financial objectives in the new year, just as you may want to alter your diet or exercise regimen. Over a year, a few little financial transactions can result in savings. 

Here are 7 ways that will help you keep more money in 2024:

1. Do a Budget Update

Examine your spending plan for chances to replace expensive items or services with less expensive ones, cancel subscriptions that aren't being utilized, and save money. Compare prices to get cheaper prices on costs such as prescription drugs, vitamins, streaming services, and other items. 

Think about what will be altered in 2024 as well. For example, if you plan a big celebration or begin a family, determine how much it will cost and factor it into your budget. Continue to review your budget on a regular basis and make any required modifications. If you can identify any problematic spending in advance, you can prevent losing money.

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2. Consider Taking on High-Interest Loans

Look into ways to reduce credit card debt with high-interest rates. You may be eligible for a balance transfer credit card, which enables you to transfer all or part of your high-interest debt to it at a reduced interest rate if your credit score is 690 or above. The perfect balance transfer credit card will offer an extended 0% introductory APR, no annual charge, and a modest debt transfer fee of 3% or less. To decide if the order suits you, compare its cost to your anticipated interest payments.

If you're struggling to pay your bills on time and for necessities, consider getting assistance from a nonprofit credit counseling organization. They can assist you with creating a budget and assess your eligibility for a debt management program, which combines many credit cards into a single low-interest fixed payment. 

3. Negotiate Over Your Bills

Set aside time if you last checked rival costs for specific bills a while ago. You can negotiate on some costs, such as those for your internet, insurance, and mobile phone. Utilize the prices of your rivals as negotiating leverage.

4. Create a Savings Account With a High Yield

Increase the amount in your emergency fund at an online bank that gives savings accounts up to a 4% yearly percentage yield, which is more than the average national rate of 0.46%. 

5. Utilize the Benefits of Your Credit Card 

There might be unexpected benefits on your credit card that could help you save money. Credit cards, for example, provide credits for approved ridesharing, shipping, restaurant delivery, or streaming services. When you pay for your mobile phone bill with a qualifying credit card, you can avoid paying for coverage out of pocket by taking advantage of a helpful feature like cell phone protection. Go into your account or call the issuer to find out more about the perks of your card.  However, if you're trying to pay off debt, be careful not to charge more than you can afford to pay off on your card. 

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6. Purchase Wisely

Avoid paying the entire price. To obtain real-time price comparisons, use a price tracker such as ShopSavvy. You may also recover part of the cost of your purchases with cash-back shopping apps, such as Rakuten for non-food products and Ibotta for groceries. To redeem merchant offers on Ibotta, you must choose them and attach a receipt. You must activate deals with specific merchants to receive cash back with Rakuten. 

Occasionally, you may stack value by signing up for a retailer's loyalty program to receive extra benefits or savings. Use a rewards credit card to get additional discounts by accruing points or cash back; however, remember to pay off the debt each month to prevent interest from accruing. 

7. Request a Raise

If you've helped a firm succeed and it's been a while since you got a raise, think about scheduling a talk about getting paid more. In an uncertain economy, asking for a pay rise can be difficult, but even if your boss answers "no," you've opened the door to further discussion that may result in a raise or a chance for advancement.

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Wrapping Up 

As you enter 2024, focusing on more competent financial management is critical to achieving long-term prosperity and peace of mind. Making informed and conscious decisions can significantly enhance your financial stability and security. This year, empower yourselves through careful financial stewardship, paving the way for a more secure and prosperous future. The above aspects will help you keep more money in 2024.