When big-shot financial pundits talk about saving money, they usually mean the change you can pocket by skipping your daily latte.

But with the way the economy is right now, you’re probably not making a daily run to your favorite coffee shop. You’re too busy worrying about what the future has in store for your family, friends, and finances.

While the pandemic ushers in some serious cost savings — the unemployed and work-from-home crowd can say goodbye to commuting costs — it also brings about other challenges.

If the only time your money moves is when it leaves your hands, it can be hard to meet these challenges head-on. But this guide aims to change that. Check out these crafty moves you can make with your money and see how easy it could be to keep more cash in your wallet. If you are looking for way to make extra money on the weekend, check Daily Prosper online.

1. Change Where You Stash Your Cash

How long has it been since you opened your checking account? Most people have stuck with the same bank for the past 14 years.

A lot can happen in 14 years, both on a global and personal scale. The housing crisis was just about to kick off in 2008, while in 2020, the U.S. suffered a record-high unemployment rate following the pandemic.

Whether or not you escaped these economic issues unscathed, you’re probably using your money differently on the other side of them. The way you bank should change accordingly, too.

Some of the biggest banks charge costly fees just for routine upkeep, charging the average American $329 to keep an account each year.

Then there are all those pesky fines that steal away your cash, such as ATM fees, overdraft charges, insurance costs, and more. Put it all together, and your choice of checking account could be a drain on your funds.

Switching your financial institution could help you cut down on this expense.

A group of no-fee digital banks have come onto the scene, offering free checking accounts as an alternative to the big banks. While they may not offer a full suite of products that include installment loans or line of credit personal loans, they’re FDIC-insured to keep your cash safe.

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2. Leave Behind Payday Loans for a Line of Credit

Changing the way you borrow is another way you might be able to save your money, especially if you’re nursing a poor credit score at the moment. A bad score limits the number of financial products you qualify for.

In an emergency, it may seem like direct lender payday loans are your only option. Payday loans online direct lenders only cater to people in tough situations, like when they’re facing an unexpected auto repair without savings or a decent credit rating.

However, direct payday lenders have earned a lousy reputation. Many borrowers get trapped into taking out additional payday loans because they can’t afford to repay what they owe by their next payday.

If you would struggle to pay off a small dollar loan in the time it takes to get paid, there are line of credit loans for bad credit available in unexpected emergencies. And since they’re not a term loan like the average payday cash advance, the way you pay it back might be more manageable.

There’s an option to make a minimum payment. It’s a flat fee or percentage of your overall balance that, once paid, keeps your account in good standing. Making the minimum is a great backup when a tough financial situation makes it hard to cover your line of credit.

That said, the line of credit experts at MoneyKey recommend paying as much of your balance when possible. If you have a CC Flow Line of Credit through MoneyKey, paying off your balance frees up your line of credit limit — meaning you have may available credit to help with the next unexpected emergency that comes your way.

3. Review Your Insurance Policies

Like having a bank account, having insurance is an unavoidable fact of life.

In many places, you need to have auto insurance to own a vehicle and home insurance to buy a house. Meanwhile, pet, life, and health insurance are good additions to your financial safety net.

And just like your choice of bank account, your insurance provider plays an important role in how much these safety nets cost you.

While household insurance names may corner the market on ad space, they don’t always provide the best policies or the cheapest rates. Sometimes, their competition — that is, smaller insurance companies — have an edge.

Take the time to review your policies at renewal time and compare them to other options. Be prepared to fiddle with your deductions to see how your policy package affects the premiums you pay, and learn how to negotiate to see if you can haggle a better deal.

In the meantime, learn about how your habits and lifestyle may affect your premiums. Making big changes could help you save on insurance.

Start Saving Money

How to make money move in your favor may not always be obvious, but there are ways to cut costs and boost savings. You don’t even have to break bad spending habits or embark on a strict cash diet!

Sometimes, you can find extra cash by tweaking how you use financial services.

If living on a tight budget has cut into your mental health, remember these tips. When you’re aware of the big impact of small choices, you can make money move back into your hands.

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