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1. Stop overpaying for car insurance

Car insurance is a major recurring expense, and many people overpay without realizing it. According to Forbes, the average cost of full-coverage car insurance is $2,149 per year (or $179 per month).

However, rates can vary widely depending on your state, driving history and vehicle type, and you could be paying more than necessary.

By using OfficialCarInsurance.com, you can easily compare quotes from multiple insurers, such as Progressive, Allstate and GEICO, to ensure you’re getting the best deal.

In just two minutes, you could find rates as low as $29 per month.

Dave Ramsey’s plan has people crushing debt fast

Drowning in debt? Dave Ramsey’s viral 7-step method is helping people wipe it out and finally build real savings. No gimmicks—just a clear plan that works. Moneywise breaks it down so you can get started in minutes. If you’re serious about getting ahead, don’t miss this.

See the steps

2. Stop wasting money on bank fees

Bank fees can quietly drain your finances over time. In reality, many traditional banks will issue a charge if you don’t maintain a minimum balance, along with other actions such as overdrafting.

Online banks, on the other hand, typically offer lower fees (or none at all) since they don’t have the same overhead costs as brick-and-mortar institutions.

For example, you can open a high-yield checking and savings account with SoFi and earn up to 3.80% APY Plus, SoFi charges no account, monthly or overdraft fees.

The best part? You can get up to $300 when you sign up with SoFi and set up a direct deposit.

3. Let your spare change grow

One of the easiest ways to cut financial waste is by putting your spare change to work instead of letting it sit idle. That’s where micro-investing apps like Acorns come in.

When you make a purchase on your credit or debit card, Acorns automatically rounds up the price to the nearest dollar and invests the difference — the coins that would wind up in your pocket if you were paying cash — into a diversified portfolio of ETFs.

Buy a coffee for $3.40? The app rounds it up to $4 and invests the extra $0.60. Over time, those small amounts can add up — especially if you’re consistently spending and saving.

It’s a simple, set-it-and-forget-it way to build wealth from money you might not even miss — and, if you sign up today, Acorns will add a $20 bonus to help you begin your investment journey.

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Jing Pan Investment Reporter

Jing is an investment reporter for MoneyWise. He is an avid advocate of investing for passive income. Despite the ups and downs he’s been through with the markets, Jing believes that you can generate a steadily increasing income stream by investing in high quality companies.

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