Queen of Free’s 5 easy methods to economize

Cherie Lowe shared her favorite strategies for saving more money on 13Sunrise.

INDIANAPOLIS – Some of the best principles for avoiding debt and increasing wealth are based on a few simple habits.

Cherie Lowe, the Queen of the Free, shared her five easy money strategies on 13Sunrise and this week on her blog.

First, withdraw extra money from your checking account before you spend it, because despite your best intentions, you WILL spend it. Move a paycheck bonus, unexpected windfall, or cash that exceeds your budget into savings ASAP. You can always send the money back if the car needs to be repaired.

If possible, schedule your bill payments with Autopay to avoid late fees. If your utility or creditor allows, try scheduling a regular monthly payment on a specific day to match the receipt of your paycheck.

Save a percentage from every paycheck. On her blog, Cherie explains how to get the same percent off every paycheck, gift, or even flea market proceeds for retirement, charity, college fund, vacation expenses, vacation, or emergency repairs for your home and vehicles. Even a few dollars at a time can add up if you stick to your plan.

If you’re under budget on one line for the month, “Even if it was $ 2.81 for the light bill or $ 0.75 for the grocery budget,” Cherie says, add that excess cash to one of the funds above, or direct it to repay a larger debt.

Finally, avoid the urge to hit the “Buy” button. With a purchase, sleep before you make it. “If it’s not a real need,” says Cherie, “sit down for at least 24 hours with your decision to make sure you really want the item.”

Watch Cherie’s segment with Jalea Brooks from 13Sunrise in the video player.

6 Methods to Make Cash With Cryptocurrency

Let’s introduce smart ways to make a profit in the cryptocurrency market.

So you’ve heard stories about cryptocurrency millionaires and want to give them a try? Originally, cryptocurrency was supposed to become a global payment model, but right now, people are investing in cryptocurrencies to make money. It’s not as easy as it sounds. Many people end up losing money or giving up halfway due to lack of understanding.

The cryptocurrency industry is still in its infancy and crypto assets are subject to massive market volatility. Investors are drawn to the industry when prices rise and suffer heavy losses when the market crashes. But there are certain strategies that seasoned investors use to make money from cryptocurrency.

Trading cryptocurrencies is the most popular way to make money, but there is great volatility that makes it very risky. However, due to the immense growth potential of the market, there are other effective strategies for making profits from cryptocurrency.

1. Invest

Investing in cryptocurrencies for the long term is an ideal strategy. Several popular cryptocurrencies lend themselves well to a buy-and-hold strategy. Coins like Bitcoin and Ethereum are volatile for a short time, but profitable in the long term.

2. Trade

Trading the volatile cryptocurrency market is tough, but not impossible. To be a successful trader, you should have analytical and technical skills. You need to analyze technical performance charts to make accurate predictions about price increases and decreases. During trading, you can either take a long position or a short position depending on whether you are going up or down. This way, regardless of whether the market is bearish or bullish, you can make a profit.

3. Stake out and loan out

Staking is a way of owning, but not spending, cryptocurrencies. By validating cryptocurrency transactions, you will receive rewards in the form of crypto coins. These coins are blocked in the crypto wallet. A proof-of-stake blockchain network, which is used by many cryptocurrencies, is ideal for this method. The reward you get for verifying transactions is equal to the interest a bank would pay on a balance.

4. Social media

Several blockchain startups have been founded since 2011 to take advantage of the new technology. These startups have social media platforms and many of these companies reward people for creating and curating content for them with the native crypto coin of that platform.

5. Mining

Mining cryptocurrencies is an integral part of the proof-of-work mechanism. If you mind a crypto currency, you will be rewarded with the new coins. Mining requires technical know-how and computer investments. You need a background in programming and very powerful computers in cold environments.

6. Airdrops

Airdrops are free tokens that are distributed to raise awareness. Usually airdrops are done by crypto exchanges to create a larger user base for a project. You can use tokens that you receive via Airdrops to buy and trade more cryptocurrencies.

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5 Methods Millennial Cash Honey Is Utilizing to Attain Early Retirement

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Catie T. who bears the name Millennial money honey on her various social media platforms plans to retire at 35. At 29, according to insider documents, she is only six years away from her goal. And about 30 years ahead of most other people their age.

Catie is part of the FIRE (financial independence / early retirement) community; It’s a movement that came from a 1992 book entitled “Your Money, Your Life” by Vicki Robin and Joe Dominguez.

Corresponding Investopedia, Millennials – who were kids when the book was published – are increasingly the generation embracing FIRE. It is characterized by aggressive savings and investment practices that allow participants to be unemployed before the traditional age of 65.

“I’ve just lived the average millennial life in LA, hanging out with my friends, doing my hair and trying to keep up with the latest fashion trends,” said Catie of her lifestyle before embarking on her FIRE trip.

But at 26, she was at a point in her career where she was making enough money to build decent savings and start thinking more seriously about her financial future.

“I was like, ‘When people are investing, I know I should be investing. I should look at this and find out,” she says. She started doing personal finance research and eventually learned about the FIRE ideology. “I came in headfirst,” she says.

It recently reached an impressive milestone which is known as “Coast FIRE. “Assuming $ 375,000 deposited in various accounts regular market trends, her savings will grow so much that she won’t have to invest another dollar to become financially independent at 65. In this way, it can “expire” into retirement without any problems.

While this is a great accomplishment and an important step in her journey, Catie plans to continue saving and investing at her current rates so she can meet her retirement goal – $ 1.5 million saved and invested – by 35 .

As she gets closer to her ultimate goal of retiring at 35, she shares her journey and the strategies she has implemented in hopes of inspiring others in financial independence as well. That’s how she got this far so quickly.

How she set her retirement goal

To find out how much she needed to save, “I estimated my yearly spending to be about $ 30,000 a year, and then I doubled it just to allow for a margin of safety,” she explains.

For example, suppose she needs $ 60,000 for each year of retirement, she has it 4% rule to determine their target amount for the annuity portfolio. An easy way to work out this number is to multiply your desired annual income by 25, which Catie did and gave her $ 1.5 million.

“It would only be $ 750,000 for me, but I’m just on the nervous and cautious side,” she said. Doubling their annual amount provides them with convenience and a safety net.

1. She tracked – and changed – her spending habits

Before making any major lifestyle changes, she tracked her expenses for a few months to get a better picture of her financial condition. “I didn’t even know where my money was going beforehand,” she explains.

After that, she was able to be more strategic with her decisions. It’s about figuring out those “little tweaks,” she says.

For example, Catie quickly found that she was spending more money on personal hygiene and aesthetic services than she wanted. Between an Equinox membership of $ 230 a month, an eyelash appointment for $ 30 every three weeks, and about $ 600 twice a year for hair treatments, she found she got about $ 1,000 every three months for them Purchases made.

So she got creative about how to minimize it. For starters, she let her hair grow back to its natural color instead of keeping a pale blonde hue that she had before. She quit Equinox, stopped having her eyelashes done, and gave up the fancy hair salon in favor of a local ad with a $ 15 cut.

2. She has increased her income

A graphic designer by profession, she has taken a strategic career move to grow her income quickly and save more money by default. Before FIRE, Catie worked for an advertising agency and Industry known for lower wages.

“I was able to steer my same skills toward a higher paying industry,” she says. Now she works as a graphic designer for a technology company. “I didn’t know how much more lucrative it was to be a designer in this field, even though the skills are exactly the same.”

It wasn’t much of a linchpin, there was no need to go back to school or invest in additional education, but “it was about being creative about how I could increase my income,” she says.

3. She invests her money in various investment accounts

While a big aspect of being successful at FIRE is cutting costs and saving aggressively, arguably the most important part is investing that money.

Due to inflation, for most people, the path to retirement involves at least some form of investment, be it through a 401 (k), 403 (b), IRA, or other selected account. The same goes for those who want to achieve FIRE.

Catie had saved about $ 30,000 prior to her FIRE trip, which she invested in a wealth front

Account. Now the majority of their income is invested between their employer-matched 401 (k), their Roth IRA, and their HSA (Health Savings Account).

Outside of these accounts, it invests almost exclusively in index funds. “I’m a total stock exchange fund at Schwab,” she says.

4. Because of the COVID-19 pandemic, she moved back in with her parents

Although it was never originally part of her plan, she moved back to live with her parents due to the pandemic. Since she lives rent-free, she was able to drastically reduce her expenses in the past year.

“‘I’m very fortunate that my parents let me live rent-free to help me with my dream,” she says. This change has helped accelerate your invested income.

5. While saving a large portion of her income, she still enjoys life

Catie saves about 80% of her income, a common percentage for many who participate in FIRE. But for some, this high savings rate is one of the most unattractive qualities of the movement.

It is often assumed that putting so much aside must also mean depriving yourself of today’s joys.

But she doesn’t live like that. “I am extremely conscious of my expenses,” she explains. She still goes out to eat and drink with friends. She will spend money on travel – if the pandemic allows it. “I found out what makes me happy,” she says.

To do the things she loves, she cuts out other things, like expensive clothes or hair treatments. She doesn’t plan her daily expenses, but she knows her expenses and makes sure that she always has enough in her checking account to cover them.

She also makes sure that she uses some of her money to celebrate her victories and milestones. “It’s a long journey, it doesn’t happen overnight, it will take years and years,” she says. But she is determined to enjoy the ride as much as the destination.

More coverage for personal finances

Having bother saving cash? These methods can assist

Saving money can be difficult, especially without a solid plan. Fortunately, there are many strategies out there that can easily save you more money. (iStock)

The coronavirus pandemic is weighing on the personal finances of millions of Americans, especially those who pay off debts, save for retirement, and struggle to save money. Given the ongoing economic uncertainty, it is not surprising that many American men and women are looking for more effective ways and simple tips to save money and secure their financial futures.

If you want to save money quickly and easily, visit Credible to Find a high-yielding savings option that best fits your goals.

Do you find it difficult to regularly save part of your income? You’re not alone. Fortunately, there are many different money saving strategies and tips that you can use now to save money without adding any additional burdens to your finances, including:

  1. Make your savings automatic.
  2. Opening a high-yield savings account.
  3. Save extra income.
  4. Refinance Your Debt.


1. Save automatically (via direct deposit).

While manual deposits into your savings account can be effective, automated direct deposits have the potential to increase your balance more consistently. Set up a portion of your paycheck that will be automatically deposited into your savings account during each pay period to work towards your financial success.

This hassle-free savings strategy through digital banking is one of the easiest ways to save and ensures that you regularly save a predetermined amount and avoid being tempted to spend money on your savings account.

2. Open a high yield savings account (as opposed to a traditional one).

The first step in successfully building a savings fund is to open your own savings account. The second step is to make sure that your savings account is giving you the maximum returns available. Instead of opening a simple savings account, consider opening a high-yield savings account that will build wealth. These FDIC-insured accounts usually offer significantly higher interest rates than the basic account or a checking account, even if the high interest rates are low.

Unlike certificates of deposit or IRAs, you can also withdraw money from a high-interest savings account several times a month without penalty. Best of all, most financial institutions allow you to open a high yield savings account with no minimum balance or account activation fee.


Would you like to see the current interest rates for high-interest savings accounts or learn more about the advantages of this savings strategy? Discover how You can start making more money today with high-yielding savings options through Credible.

3. Save / do not spend extra money (such as income tax returns).

Creating a budget is a great way to responsibly map how your paycheck is being saved or spent. While any additional income you receive is beneficial, these various funds can actually be more difficult to save. Inconsistent income such as tax returns, work bonuses, stimulus checks and income from freelancers should ideally be deposited directly into a savings account. By putting the money in a savings account straight away, you resist the temptation to spend it – be it on your cell phone bill, at the grocery store, or on your utility bill – and give your savings an unexpected boost.

4. Refinance debt to free up cash.

Unfortunately, paying off debts at high interest rates can drive up your expenses unnecessarily and limit your savings potential if your budget is tight. Fortunately, there is one option that will help you manage your debt responsibly while putting more money into your savings fund: refinancing. You may be eligible for a lower interest rate on outstanding debts such as your student loans, personal loan, car loan, other loan payments, and mortgages.


A lower interest rate enables you to further reduce your existing debts and to transfer the alleged interest expenses to your savings account. Put simply, it’s the difference between saving and spending a dollar: either amount can add up quickly, but only one will help secure your financial future.

Are you interested in Refinancing your student loan or Refinance your home mortgage to save extra money? Visit the Credible Marketplace today to see all of your refinancing options.

The bottom line

The coronavirus pandemic has certainly left the U.S. economy in disarray, which has only made it harder for people to put large amounts of money in their savings accounts and achieve financial health. Regardless of how positively or negatively the economy is impacted as it enters a post-pandemic future, there’s no denying that a dedicated savings account will help you achieve your financial goals better, whether it’s saving for emergency funds, retirement plans, or even Deduct credit card debt to pay.

Refinancing your outstanding student loans or mortgage debt, setting up direct deposits, and managing your extra income are effective strategies for increasing your savings bank balance. Regardless of how much money goes into your savings fund, be sure to maximize your interest income potential by exploring high-yielding savings options.


High yield savings accounts have helped many men and women maximize the potential for their savings goals, whether it be saving for college, retirement planning, reducing debt, or buying a home. Visit Credible today to order Find a high-yielding savings option that will help you meet your individual financial goals.

Do you have a finance-related question but don’t know who to contact? Send an email to the credible money expert at moneyexpert@credible.com and your question could be answered by Credible in our Money Expert section.