Outline:
Managing personal finances doesn’t necessarily need to be tedious or stressful.
In reality, as per AARP andUSA TodayThese do-it-yourself money tips require less time than an episode of your favorite television series. In fact, you can complete some of them while watching that episode.
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Here are eight simple financial steps to assist in saving, increasing, and safeguarding your money and credit score — and each can be done in an hour or less. No spreadsheet needed! (1)(2).
1. Invest your funds in a high-interest savings account
If you have funds in a savings account that offers 0.01% interest, you’re not truly saving money. Inflation is gradually reducing its value.
A report from Vanguard refers to “idle cash” as a “savings blind spot,” noting that 57% of participants stated their savings generate less than 3% interest, with 24% earning under 1% on their savings accounts (3).
Continue Reading: The typical net worth of Americans stands at an unexpected figure of $620,654. However, this number holds little significance.Here’s the key figure (and how to make it rise rapidly)
In contrast, a high-yield savings account(HYSA) can provide returns between 3.5% and over 4%.
If you have $10,000 saved up, an account that offers 0.01% would only give you a small $1 per year. However, with an annual interest rate of 4.00% APY, you could make $400. Additionally, many HYSAs do not charge monthly fees or penalties and often have low or no minimum balance requirements.
2. Verify your credit report again
Spend a few minutes downloading and checking your credit report, as it may include mistakes that negatively affect your credit score.
This is quite prevalent. In 2024,Consumer Reports and WorkMoneyjoined forces to examine 4,300 individuals and found that 44% who reviewed their credit reports identified mistakes, including:
- Payments made on time incorrectly listed as late or absent.
- debt sent to collections that they were unfamiliar with (4)
Equally worrying is the fact that 27% of these errors could potentially harm participants’ credit ratings — and this might result in financial loss, such as in the scenario of a standard home loan.
“The difference between having average credit and strong credit amounts to around $150,000 over the course of a loan,” Carrie Joy Grimes, CEO ofWorkMoney, told Consumer Reports.
You may access your credit reports from Equifax, Experian, and TransUnion at no cost through AnnualCreditReport.com.
3. Cancel unused subscriptions
How many times have you registered for a ‘free’ trial subscription, only to lose track of it and keep paying for it for several months or even years?
The typical American spends $1,080 annually on subscriptions — with roughly $200 allocated to services that are no longer utilized, as reported byCNET’ssecond yearly subscription survey (5)
It’s not only streaming platforms; it might include applications, programs, online shopping subscriptions, gym memberships, and even food delivery services.
Spend an hour today to review your subscriptions, identify which ones you’re still paying for, which you actually utilize, and which can be terminated. These minor savings can accumulate significantly over time.
4. Increase your 401(k) contributions
Perhaps you are saving money in a 401(k), but are you contributing the maximum amount each year?
In 2025, the highest contribution limit is $23,500 — including an additional $7,500 for individuals aged 50 to 59 or 64 and older, or $11,250 for those between 60 and 63.
Even if you don’t contribute the maximum amount this year, you can begin increasing your contributions by 1% moving forward. This will enhance your savings without you likely noticing the difference.
If you earn $80,000 annually, contributing an additional 1% to your 401(k) would result in an extra $800 per year—potentially more if your employer offers a matching contribution. This doesn’t even consider the benefits of compound interest over time. It only takes a short amount of time to access your 401(k) online and adjust your contribution rate.
5. Automate your bills
This may not appear to be a method for saving money, but if you ever miss a payment, you might face interest charges and additional late fees.
Those charges can accumulate significantly, particularly with credit cards, which have an average APR (as of October) of a staggering 24.19%.
However, there is a more alarming consequence: Late charges may negatively affect your credit rating.
You can arrange automatic payments via the internet for various expenses such as utilities, health insurance costs, and credit card bills, ensuring you never overlook a payment deadline.
6. Halt expensive car insurance costs
Auto insurance is, on average, 12% pricier this year compared to last, as reported by Bankrate, with expenses anticipated to continue increasing because insurers are spending more on vehicle components because of tariff regulations.
Changing your insurance provider may result in cost savings.
A survey conducted by Consumer Reports revealed that drivers who changed their insurance providers saved an average of $461 annually, with 41% saving $500 or more and 13% saving $1,000 or more (6).
Online quotes from insurance companies or comparison sites are typically very fast. Make sure to have your existing policy ready so you can easily compare the coverage options.
7. Seek out a credit card offering 0% annual percentage rate
If you’re working to reduce your credit card debt but are struggling due to the high interest charges, you might want to explore moving the balance to a credit card that offers 0% annual percentage rate.
It requires just a short time to complete the application, yet you might be denied if your credit score is poor; also, there could be a transfer charge.
However, there’s a drawback: The 0% APR is typically available only during a short promotional period (such as 12 months), after which the interest rate will increase.
The key is to utilize it wisely and settle your debt within the promotional timeframe — without accumulating additional debt.
8. Find lost money
You could have funds in dormant or overlooked accounts, such as a 401(k) that was left at a former employer.
Think about this: Over $2 trillion is stored in abandoned or neglected 401(k) accounts, with an average amount of $66,691, as stated in a report by Capitalize in collaboration with the Center for Retirement Research at Boston College (7).
Picture discovering you have an additional $66K that has been earning interest quietly over the years.
It’s definitely worth spending a little time to search the National Registry of Unclaimed Retirement Benefits (8).
You may also visit Missingmoney.com, the official site for unclaimed assets managed by the National Association of State Treasurers, to look for forgotten property or old bank accounts.
The takeaway
These tips require a minimal time commitment that may lead to significant benefits, especially when used together.
For instance, if you raise your 401(k) contributions by 1% and find funds in a previous 401(k) that you were unaware of, this could greatly enhance your retirement savings.
Certainly, it’s logical to focus on these according to your financial challenges.
If you’re planning to renew your car insurance and your rate has increased by 30%, it’s logical to look for more affordable coverage options first.
If you’re setting aside money for a home down payment, you should check your credit reports carefully to ensure there are no mistakes that might lower your credit score.
If debt is your primary concern, a credit card with no interest could be your main focus.
What to read next
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Article sources
We exclusively use verified sources and reliable third-party journalism. For more information, see oureditorial ethics and guidelines.
AARP Magazine (1); USA Today (2); Vanguard (3); Consumer Reports (4, 6); CNET (5); Capitalize (7); National Register of Unclaimed Retirement Benefits (8)
This article offers information solely and should not be interpreted as guidance. It is made available without any form of warranty.