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Home » Make Money

5 Money Moves to Make When You Are Broke as a Joke

Kelan Kline | Updated March 10, 2021 Make Money

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Are you sick of being stressed about money and living paycheck to paycheck? This article has 5 simple money moves that will change your life and help you get your finances in order. You have to read this! #PersonalFinance #MoneyMoves #Budgeting #PayingOffDebt #DaveRamsey #SaveMoney

This is a sponsored post with Tello.com. All opinions are 100% our own.

When it comes to getting your financial health in shape there is a lot to think about!

It can be completely overwhelming, stressful, and filled with guilt.

It’s easy to slip into the mindset that good money management needs to be all or nothing.

Luckily for you, that’s simply not the case.

Taking some small money moves in the right direction over a long period of time can and will make a world of difference in reaching your financial goals.

 

Here Are 5 Savvy Money Moves to Make Today

1. Create a Money Plan and Stick to it

young couple looking at notebook and calculator making money moves to organize their financial life

Budgeting is not something that equals a fun night in, but it does mean that fun things can be sorted out and paid for, without the worry and stress. 

Writing down your income, expenses and allocating the leftover money to savings and fun stuff, sounds like a no-brainer to me.

Trust me, we have been budgeting for over a decade now!

I know for a fact we would not have been able to pay off $25,000 in student loans in under 5 months, top $100,000 net worth, and go on many once and a lifetime vacation before turning 30 without a budget.

Take a second and change your mindset about budgeting. Put simply it’s just making a plan for your money. 

It’s not something to constrain your money but rather free up your money to do more of the things you love.

To do: Grab our free budget template here!

 

2. Cut All of Your Monthly Expenses

Young Man Looking At Woman Inserting Coin In Piggybank to start their 52-week money saving challenge

After you have your money plan in place you need to start slashing those monthly expenses. 

Things like subscriptions, cell phone plans, eating out, shopping, entertaining, etc should be examined closely. 

We want you to cut expenses drastically in areas that don’t bring you joy and happiness and spend money lavishly in areas that mean the most to you. 

One of the best areas to start in reducing your expenses is your monthly cell phone bill. The average American spends upwards of $70 per month on their cell phone plan. That comes out to almost $1,000 per year! 

This is one area that is absolutely worth price shopping and finding the best deal. Chances are your current cell phone plan is bloated with taxes, fees, and extra’s you are not even using. 

We recently came across Tello Mobile and fell in love! 

This is a pay-as-you-go mobile provider with surprisingly affordable rates.

They offer a variety of plans with no contracts, no fees, unlimited talk/text and nationwide 4G LTE service. You can opt for various data amounts from none to 1 GB, 2GB, 4GB, 6 GB, 8GB and unlimited – so you only pay what you actually use.

Here’s an example of how their plans can fit your lifestyle and help you save at the same time.

Only $67/mo for a family of 5:

  • Dad: 6GB + Unlimited Talk & Text = $24/mo
  • Mom: 4GB + Unlimited Talk & Text = $19/mo
  • 12y old: 1GB + 300 Mins & Unlimited Texts = $8/mo
  • Grandpa: 500 Mins + Unlimited Texts = $7/mo
  • Grandma: 500 MB + Unlimited Talk & Text = $9/mo

Tello comes with: 

  • Super affordable and flexible plans – you can build your ideal phone plan according to your needs, by adding data, minutes, texts as you like
  • Easy-to-manage Family plans – no shared balance, no cost per line, no predefined plan
  • Unlimited texts included in every plan
  • Free hotspot
  • No dicey contracts, no fees whatsoever
  • 24/7 human customer support 

To do: Sign up with Tello Mobile to save HUGE on your monthly cell phone plan.

 

3. Build an Emergency Fund and Pay Off Debt

saving money for an emergency fund money moves to be debt free

So how do you handle life when it slaps you in the face with a huge medical bill, car repair, or death in the family?

Do you stress out like crazy, reach for your nearest credit card, and swipe it like it’s not affecting your life?

Stop the madness! You NEED an emergency fund set up, like, yesterday!

Unfortunately, life is going to throw things at you and you need to be ready financially.

Saving up $1,000 in a high yield savings account is a great way to have a buffer when things get rough.

But, remember that once you tap into your emergency fund it’s time to switch your priorities around and fill it back up.

Having an emergency fund will protect you from falling into the trap of going into more debt and ruining your financial future when things go south.

Once the dust settles, make sure to get back on track paying off your debts to get rid of them!

To do: Save $1,000 in a high yield savings account and start paying off debt.  

 

4. Start Investing Your Money

Best Investing Books

Investing our money is something that I need to concentrate more on, because how many millionaires do you know of, that don’t make money from saving and investing? Exactly – not many!

The problem with investing is that there is no sure-fire system out there that will tell you exactly what you have to do, and there are so many options that it’s easy to be overwhelmed.

I’ve thought of a solution though – robo-advisors. They do the work for you, so you are investing, but you don’t personally need to invest a lot of time into doing it.

Our absolute favorite robo investment platform and one we highly recommend is Betterment.

A lot of the time, it’s a lack of knowledge and the worry of starting something new that holds me back, but I’m over it. I’m stepping out of my comfort zone this year, and it’s going to be great!

To do: Sign up with Betterment and start investing!

 

5. Start a Side Hustle

woman in art studio on laptop and phone starting a side hustle money move to change her finances

A side hustle is a term that is being used more and more frequently – you have probably come across it by now, but if you haven’t, a side hustle is essentially something that you do on the side of your regular job to bring in some more money.

I know that the thought of more work isn’t something we are all going to jump at.

The fact of the matter is though, I want to reach my goals now. More money made means more money to throw at my goals, so I’m all for it.

Here are the best side hustle ideas you can start today:

  • Start a Money Making Blog
  • Become an Online Proofreading
  • Flipping Items on eBay

To do: Start a new side hustle and start making extra money!

 

BONUS: Save HUGE on Your Cell Phone Plan

As we mentioned above one of the fastest ways to cut your monthly expenses is to drop your bloated cell phone plan. 

The average American pays over $70 month on their cell phone plan. That’s almost $1,000 per year! 

There are plenty of other options out there that you should consider. 

 With Tello Mobile, you can pay less than $70/mo for your entire family.

Here’s an example: Only $56 for 4 lines, 2GB each. Plus unlimited texts included in every plan. 

The Build Your Own Plan option offers so many possibilities to mix & match data and minutes as you wish.

We personally tested out their service and were extremely pleased from start to finish.

Their sign up process is easier than ever and the phone we wanted was shipped out and activated in just a couple days. 

Overall Tello’s service has been incredible with no issues with signal or speed. 

To do: Click here to check out Tello Mobile now.

 

What Money Move Should You Do Right Now?

The most important money move you can make is getting extremely organized and setting financial goals to go after.

Without setting super specific goals it’s near impossible to pay off debt and build wealth like you want to.

Take action today and start your journey into building your dream life of financial freedom.

 
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About Kelan Kline

Hi, I'm Kelan Kline! A personal finance expert, entrepreneur, and passionate money nerd. With my bachelor's degree in business and finance, my drive in life is to help others learn how to make money online, create passive streams of income, and reach financial freedom! I have been featured in online publications like Forbes, TIME, USA Today, Huffington Post, Business Insider, Marie Claire, CNBC, Acorns, The Penny Hoarder, Bankrate, Nerd Wallet, Yahoo Finance, MSN, GoBankingRates, Her Money, Thrive Global, The Simple Dollar, Money Crashers, Readers Digest, FinCon, Best Company, Rent Cafe, Romper, Intuit Turbo, Opp Loans, CreditCards.com, Debt.com, Discover, LifeLock, Quick Sprout, Money Geek and many more! Click here to read all of my posts.

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