8 Genius Money Saving Hacks (you might not know about)
Genius Money Saving Hacks (you might not know about)
Since starting this blog I’ve created several posts on how to save money and money saving hacks. This type of content is a favorite among my audience, so I’m always on the hunt for new tips.
Of course, the more I post about saving money the harder it becomes to find tips that you haven’t heard a million times. But occasionally I’ll stumble on something new. So today we’re looking at a few additional money saving hacks (that you might not know about).
1. Make student loan repayment easier
If you have a student loan, did you know that under the CARES Act employers can contribute up to $5,250 (tax-free) per year toward repayment of an employee’s student loan debt?
This provision was originally slated to expire on Dec. 31, 2020, but it’s been extended through Dec. 31, 2025 (so you have about four years to get in on this!!). You can take advantage of this without getting taxed on the money.
Now, you’re probably thinking: Why would an employer help pay off your debt?
The reason is simple: The tax benefit doesn’t only benefit employees, it also extends to employers and they’ll get a tax break for their generosity.
But although this provision is available, some employers don’t know about. Therefore, it doesn’t hurt to have a conversation with your HR department. To benefit from this, your employer must adopt a Section 127 Educational Assistance Plan.
2. Get into national parks for free
If you’re an outdoorsy person or you want to become one, exploring national parks is a great way to enjoy nature and scenery. It’s also great for mental health, but many parks charge an entrance fee (about $25 per car give or take). This isn’t too expensive, but it can add up depending on how often you visit.
These parks have a few fee-free days per year, but you’ll deal with much larger crowds which might take the fun out of it.
However, there’s a program that gives fourth graders a “free annual pass to national parks across the country,” which is valid from Sept 1 to Aug 31 of their fourth grade year. And the best part about this money saving hack is that one pass covers the entire family, as long as you’re riding in the same vehicle.
If you have a fourth grader, you can get their pass from everykidoutdoors.gov. Also, if you’re a US citizen or permanent resident with a permanent disability, you’re also eligible for a free lifetime pass.
3. Get a 90-day prescription refill to save money
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