If you have been following my blog for quite some time now, you know that my wife and I were indebted to the tune of $40K. We incurred that debt because of my failed business.
That's the sad part.
The good part is that we paid it off in 2.5 years and saved $70K at the same time. Now, after 5 years, we have saved over $300K and the numbers keep on climbing every single day.
The products I will detail below are found everywhere in my blog. Someone asked me if there's a comprehensive list that he could get his hands to without having to go through a ton of posts.
That's what this post is all about.
These are the best financial products my wife and I have used or similar ones that pretty much mirrors what we've been doing over the years, which made and have made the greatest impacts to our finances.
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The Best Free Financial Products To Help You Save Thousands
I will explain these products in detail. So, please bear with me if you feel like my each product has a mile-long explanation. I want to make sure you get the clear picture and expectations.
Setting up a goal and following through with it is one of the best ways to live cheap. That's is why it's always important to stick with you budget down to the cents. That's how my wife and I think.
My wife and I tried budgeting several times and failed to make them work. It's disheartening and maddening at times when your budget doesn't work for you.
If you've tried so many tools and are fed up with budgeting not working for you or don't know where to start but want to, I highly recommend Qapital. It's a new way to bank that lets you save for the things you want, just by doing the things you do.
With Qapital, your purchases are rounded up to the nearest dollar and those cents are transferred to your specific goals. Also, if your actual expenses exceed your budgeted ones, then, the difference is transferred to your Qapital account.
It's user-friendly and straightforward. You just create an account, connect your bank accounts, set your goals and rules, and you go are good to go. Qapital uses bank-level SSL and TLS encryption standards, multi-factor authentication, and three-level identity protection. This means your account is safe and secured.
In short, this budgeting tool will work for you. You get the best of everything for FREE. Who doesn't like that?
To put things in dollar terms, we saved $6,000 last year towards our goals because of Qapital. We went from having budget headaches to perfecting our budget and saving money.
Have you tried correcting your financial missteps in the past and making right financial decisions moving forward but failed to make it work? It's frustrating, isn't it? I hear you. My wife and I have been there.
When we were struggling to pay off our debts, we tried everything from hiring professionals to using popular budgeting tools like Mint, YNAB, etc. They barely worked. What worked though was asking help from people I knew. If you don't like people looking into your finances, then, there's a solution.
You can use Cinch Financial, a patented intelligence platform – the world’s first true financial brain. It gives you exactly what you need to understand your situation and take action as your ever-loyal advisor.
It will help you look at your whole financial life in all angles. It will analyze your banking activities, insurance, debt, and even spending and give you advice to make all those important things work right and in sync.
There are no ifs, buts, and tricks in between but only answers you need to make significant changes to your finances. With Cinch, you'll know what expenses to cut, how to payoff your student loans fast, get the best options for insurances, save extra money easily, etc.
Cinch is like no other financial app. It doesn't get paid by companies, it has zero ads, and, best of all, it won't sell your data. That's it's promise. It literally works for you and has one goal in mind that is, to help you reach your goal. Plus, it's FREE to use.
Cinch is simple, straightforward, and easy to use. Click here to get Cinch Financial for FREE.
One of the best ways to live cheap is to trim your expenses to the bare minimum or to the lowest level you can. It is easier than done, but there's a solution to that.
You can start trimming down your expenses little at a time starting with discretionary items like gas and entertainment expenses and, then, go for mandatory expenses. That process is tedious though and may not work all the time.
The easiest solution that perfectly works is to use Trim. It's a FREE financial assistant that saves you money. Period. It's user-friendly, easy to install, and, best of all, it takes the headache from you in finding places to cut expenses.
It analyzes your accounts and searches for ways to save you money on everyday expenses like utilities, negotiates your cable and internet bills, finds you better car insurance, and more.
Food for thought: Last month alone, Trim users saved over $1,000,000. That's seven figures in savings.
Trim cut our on-contract Verizon phone bill by $16.75/mo. That's $201/year. (see my bill's images below).
What’s more interesting is that if you experience outages (e.g. your internet didn’t work for a couple of hours), Trim believes you deserve a credit and it will work with the providers to get you just that.
Click here to start using Trim. I haven't seen a product like this in a while. I'm glad I use it as it helps my family in more ways we could ever think of. If people like me could save money in the way we didn't think we could, so can you.
Cost: Free (for investment fee analysis): $10 (premium service)
Note: Based on experience, the free option is more than enough.
Investment funds aren't created and don't function in the same ways.
According to Morningstar Research, the average expense charged by ETFs and mutual funds is 0.61%. It doesn't look alarming, but wait until you calculate the expense for the next 20 years.
If you have $100,000 invested, you would be paying $690. If that $690/year is invested instead at 15% compounded annually for 20 years, the result would be $73,681.15.
Imagine if you have $150K, $200K, or more invested and the fees associated with those amounts. Yikes.
The average Joe won't know the difference between one fund and another. That's where Blooom comes into play.
It's a revolutionary product that will analyze your investments for FREE. It will spot hidden fees, tell you if your portfolio is too aggressive or not, and find out how much you could be missing out on by DIY-ing your 401k.
With Blooom, you may not need advisors to see where the money pits in your investments are. Blooom will do that for you.
A lot of its clients cut their hidden investment fees by 46%. Blooom clients' collective lifetime fees saved is over $776,465,300 and counting. That's remarkable.
Click here to get your FREE analysis with Bloom and start seeing how you can skyrocket your portfolio.
For us, our identity and credit are among the most important things we need pay attention to.
Because we monitor our credit, we exactly know how much we owe and what credit opportunities we have to lower our monthly interest payments. Because of monitoring our credit, we found loans with 1% APR, which we used to pay off our debts with 15.99% APR in less than a year.
In the past, my wife and I spent a couple of dollars every month for subscriptions to credit reporting agencies. For us, this was an expense that's worth investing. For us, we'd rather pay $20/mo than get our credit or identity hacked.
We used to pay that amount but not anymore. Now, we use Credit Sesame. It's FREE to use and consistently monitors our credit on a daily basis. There's no ifs and buts with Credit Sesame.
With Credit Sesame, we get the same type of coverage we got from the credit reporting agencies. We get FREE identity theft insurance, FREE credit monitoring, and FREE help line to restore our credit. All of these for free.
Create your account for free at Credit Sesame and get the monitoring and protection your credit deserves. See my recent information pull from Credit Sesame (image below).
There's an old saying that if you can't pay in cash, then, don't buy that item at all. If you can put the amount in your credit and pay off that amount in full when it's due, then, you can buy it.
My wife and I always set aside money right away when we buy something on credit. If we put $10.00 in our credit card, we transfer $10.00 right away to our spending checking account.
This way, when due dates come, we can pay our bills in full and on time. No ifs, buts, and everything in between.
If you are just starting out in your journey to a cheap-living and debt-free life, don't know where to start, or don't have time to do it manually, I highly recommend Debitize. It's FREE, automated, and user-friendly.
Use your credit card as your normally do. Debitize will take the money out from your account and will pay the bill when it's due. As simple as that. You'll stay on top of your spending, like you would with a debit card.
You won't have to worry if you forget to pay your debt on time. Debitize will do it for you. You just sit, relax, and enjoy doing other happy, important things.
Sign up now for FREE with Debitize and get a $10 credit towards your next credit card bill! Sign up is easy, fast, and FREE.
These are the best FREE financial products my wife and I use all the time.
They have truly saved us a lot of money and most of them are FREE. The ones that aren't cost less than a cup of coffee. Still can't beat that.
Which of these best FREE financial products do you use? Which ones are you going to start using?