490: 24 Money Tips for 2024: How to Slash Your Expenses and Save MORE This Year

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 11 January 2024

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

With a few money tips for 2024, you could take your savings to a new level this year. From investment fees to utilities, there are all kinds of everyday expenses that you might not have thought to slash! Welcome back to the BiggerPockets Money podcast! In part two of our money tips series, Mindy and Kyle go over some of the best and easiest ways to save money. If you haven’t shopped around for insurance in the last year, chances are you’re paying too much! We talk about how finding a broker can help you out in a big way. We also recommend several home upgrades—such as installing LED bulbs, adding insulation to your attic, and investing in low-flow showerheads—that could help you save a fortune on your energy bill. You’ll find out that even something as simple as stashing your tax refund in a savings account could make a huge difference! In This Episode We Cover How to find out if you’re spending too much on investment fees The energy-efficient home upgrades you NEED to make in 2024 How to save a fortune on your electric bill by insulating your attic The SMART way to use your tax refund this year Why you NEED to shop for insurance every six months (and find a broker!) Protecting your family’s financial future before you pass away And So Much More! Links from the Show BiggerPockets Money Facebook Group Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Money Moment Check Out Part 1 of Our 24 Money Tips for 2024 How to Find the Best Possible Certified Financial Planner (CFP) for Your Needs with Kyle Mast The Post-Passing Plan: 3 Steps to Protect Your Family’s Financial Future Organize Your Family’s Most Important Information with the Family Emergency Binder Click here to check the full show notes: https://www.biggerpockets.com/blog/money-490 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hello my dear listeners and welcome to the BiggerPockets Money Podcast every Thursday in January we are doing 24 money tips for
0:07.9	2024 my name is Mindy Jensen and joining me today is my financial dreamboat co-host Kyle Mas.
0:14.1	Oh my goodness.
0:15.7	Hopefully people are listening to the podcast and not watching on YouTube,
0:19.0	so they don't know that that is not true.
0:21.0	You're blushing, you know it's true. I probably am, yeah.
0:24.8	Kyle, what is your first tip for today? For today, if you're getting a tax refund,
0:29.7	set it up so that it goes directly to your savings account. That's money that you can maybe
0:34.9	pretend that you didn't get it. You know, it's maybe a hard habit to break for some
0:38.7	people each year. You count on this tax break to maybe put the down payment on the new carp that you're going to buy and put payments on or do some big gift.
0:47.6	Try to do something with it that you don't feel that it's there.
0:51.4	Another good option would be to pay it towards some debt
0:54.3	for an instantaneous guaranteed return.
0:56.6	You know, if you have got some debt that's got five to 10%
0:59.7	interest on it, student loan debt, car debt.
1:02.8	If you can discipline yourself to get it in that category
1:06.3	before you're able to spend it,
1:07.8	you've guaranteed yourself a return on that indefinitely
1:11.1	on those funds. But yeah, don't let that tax return get away without
1:16.2	working for you. Requote your insurance. Contact an insurance broker who works with a bunch of different companies and ask them to give you a quote on your homeowners insurance, your auto insurance, your health insurance if you're buying it on the exchange.
1:34.0	Whatever kind of insurance that you're looking for, get another quote,
1:38.0	especially if your insurance premiums just went up.
	...

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