40 Must-Know Money Tips To Pass On To Your Friends at Parties
Written by
Lydia Kibet
Edited by
Amen Oyiboke
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We all know the common financial tips: save for retirement, don’t rack up credit card debt, and build an emergency fund. While they’re useful, these money tips are not fun to talk about at parties. No one wants to be the person at a party reminding everyone to max out their 401(k).
If you want money tips you can pass on to your friends at parties without boring anyone, here are practical ones.
Use a Round-Up App To Save Spare Change
Apps like Acorns round up your purchases and invest the spare change. Spend $5.40, and 60 cents goes into investments without you lifting a finger.
Ask AI to Meal Plan on a Budget
Tell ChatGPT or your preferred AI tool your budget and dietary plans, and it will create a meal plan for you.
Track Forgotten Subscriptions
Instead of manually hunting for old subscriptions, apps like Rocket Money and Trim can help you monitor recurring payments.
Freeze Your Credit for Free
You can freeze your credit with Equifax, Experian, and TransUnion for free to prevent identity thieves from opening accounts in your name.
Score Free Birthday Rewards
Almost every store offers birthday freebies to its customers.
Book Flights Separately
Sometimes, booking two one-way flights, even on different airlines, is cheaper than a round trip.
Sell Unwanted Gift Cards
If you have gift cards you know you’ll never use, sell them on sites like CardCash, Raise, or Gameflip.
Check for Unclaimed Money in Your Name
A site like MissingMoney.com can help you check for unclaimed money in your name.
Use Google Flights Price Alerts
Track flight prices for specific dates and get notified when prices change.
Buy Discounted Gift Cards
You can buy discounted gift cards for literally everything on sites like CardCash and Raise.
Haggle Your Internet Bill Once a Year
Contact your internet provider and inform them that you’re considering switching. Most of the time, they’ll offer a discount to keep you.
Use Cashback Apps for Online Shopping
Cashback apps like Rakuten, Ibotta, and Fetch Rewards offer cashback on purchases from thousands of stores.
Rent Out Extra Storage Space
Don’t let your unused storage space sit idle. Platforms like Neighbor.com let you rent out your extra garage or closet space.
Automate Bill Payments to Avoid Late Fees
One missed bill often means late fees. Automating bill payments prevents this and helps build a good payment history.
Switch Bank Accounts for Bonus Cash
Most banks offer $200-$500 cash bonuses to new customers, provided that you meet specific requirements.
Use a High-Yield Savings Account
Don’t let your idle cash sit in a checking account. Most high-yield savings accounts pay 4%-5% interest.
Ask for Student or Teacher Discounts
Many retailers and subscription services offer student and teacher discounts, so don’t be afraid to ask if you qualify.
Book Flights in Incognito Mode
Airlines often track searches and raise prices when they see repeated interest. That’s why it’s smart to book flights in incognito mode.
Skip Extended Warranties
In most cases, you don’t need extended warranties that retailers often recommend.
Refinance Student Loans if You Qualify
If your credit score or income has improved since you borrowed, refinancing can lower your interest rate.
Set Price Drop Alerts on Amazon
Websites like CamelCamelCamel and Honey track the price history of Amazon items so you can see the best deals.
Add Authorized Users to Build Credit
Parents can add their kids to credit cards as authorized users, letting them build credit early.
Re-shop Car Insurance Every 6 Months
Car insurance rates change constantly. Shopping around twice a year can mean big savings.
Try Bill Negotiation Services
Services like Billshark or Trim will call your providers and negotiate lower bills on your behalf.
Split Streaming Services
Many streaming plans allow multiple profiles or users under one account. Sharing with family or friends can cut costs.
Return Amazon Items at Kohl’s
Drop off your Amazon return at Kohl’s. They’ll pack and ship it for you for free.
Turn Receipts Into Rewards
Apps like Fetch Rewards, Ibotta, and Receipt Hog let you scan grocery receipts for points you can redeem for gift cards or cash.
Save With Library Perks Beyond Books
Many libraries offer streaming services, audiobooks, online courses, 3D printers, and even museum passes for free.
Buy Gift Cards at Costco for a Discount
Costco also sells various gift cards at steep discounts.
Use the 24-Hour Rule for Purchases
Before you buy any high-ticket item, wait for 24 hours to know whether you really need it.
Treat Yourself Tax
For every discretionary purchase, let’s say $50, make sure you save $50. This is called the treat yourself tax.
Claim Business Expenses if Self-Employed
Home office, internet, phone, and mileage can be deductible if you’re self-employed.
Use the 52-Week Savings Challenge Backwards
Instead of saving $1 week one, start with $52 week one, $51 week two, down to $1 when motivation is still high.
Pay Small Debts First
Quick wins keep you motivated to tackle bigger debts.
Use Your Tax Refund to Pay Down High-Interest Debt
It’s tempting to splurge your tax refund, but the best way to spend it is to pay down high-interest debt like credit cards.
Buy Life Insurance While You’re Young and Healthy
Life insurance premiums cost less when you’re young and healthy than when you’re in your 50s, 60s, or 70s.
Use Balance Transfer Cards for 0% Interest Debt Consolidation
Transfer high-interest debt to cards with 0% introductory APR and pay off principal without interest charges for 12-21 months.
Buy Seasonal Items Off-Season
Buying Christmas decorations in January, winter clothes in summer, and summer outfits in winter can translate to huge savings.
Use the Dollar Cost Averaging Investment Strategy
Invest the same amount regularly at specific intervals regardless of the market conditions.
Buy Appliances During Holiday Weekends
During Memorial Day, Labor Day, Presidents’ Day, Fourth of July, and Thanksgiving weekend, retailers offer the steepest discounts on appliances.
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