A new year is a second chance to start improving personal finances and saving money.

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A new year marks a new opportunity to fulfill resolutions and commitments. For millions of Americans, this can mean getting back in shape, taking up a new hobby, or generally improving your health and well-being.

This can be a second chance to improve personal finances and start saving money. With that being said, saving money isn’t always easy, especially during periods High inflation. As the cost of living and Increase weekly food shoppingLet alone saving some extra money, making ends meet can be difficult.

Fortunately, there are a few ways consumers can start saving now without touching their paychecks. It may not be fast — and it may take some research — but if you’re committed, you can start saving money today.

How to Save More Money in 2023

Whether you’re looking to meet your 2023 resolutions — or just want to put some money in your pocket — consider these three ways to start saving money now.

Review insurance policies for savings

Don’t get too comfortable with your current insurance providers. It’s possible you could pay less for the same (or more) coverage. You need to do your homework and shop around to see where you can potentially save.

There are tricks you can use to get Cheap life insurance, Travel insurance or Pet insurance. You can (and should) also see any qualified person. discount You may qualify. Be sure to check your current home insurance policy, as you may be paying for coverage you don’t need (or if you live in a building, coverage the landlord or owner already has).

Start by comparing your current life insurance costs and get a quote here.

Refinance existing loans

If you have a cost-prohibitive interest rate on your mortgage, student loan or personal loan, you can save significant money by refinancing at a lower interest rate.

Remember: Private student loans are not eligible for any federal forgiveness programs. So if you want to lower what you are paying each month you may want to go for a refinance loan.

And while mortgage refinancing isn’t as convenient as it was at the height of the pandemic, Those who own the house will still benefit. Homeowners with high interest rates (like above 6%), who want to pay off their loan early, or who want to stop making payments Personal mortgage insurance Now everyone can benefit from refinancing.

Answer a few simple questions here to see if mortgage refinancing makes sense for you.

Consolidate your debt into more manageable debt

You may be paying a high interest rate on a credit card, for example, which is costing you in the long run. By consolidating your debt a Debt Consolidation LoansYou may be able to get a lower interest rate and a shorter term, saving you money each month and the interest you would otherwise pay if you kept to your existing payment schedule.

Debt consolidation loans can help Increase your credit rating. If you’ve gotten yourself into a hole with credit card or other debt, you’ve likely damaged your credit score, making it more difficult to qualify for a better rate in the future.

A debt consolidation loan helps bring all your debts under one umbrella. After a series of on-time payments on the loan (and assuming you don’t refinance elsewhere), you’ll start to improve your credit — and you’ll save money. Now see how much you can save by answering a few simple questions here.

Bottom line

This is not an exhaustive list. Everyone’s personal situation and financial situation is different. So what works well for one person may not work well for another and vice versa. But if you want to stick to your financial resolutions — or if you could benefit from saving a few extra dollars — these recommendations can help you get off to a strong start in 2023.

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