You’re our first priority.
Every time.
We believe everyone should be able to make financial decisions with confidence. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free.
So how do we make money? Our partners compensate us. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. Here is a list of our partners.
5 Tips for Lowering Your Credit Utilization
Lead Writer | Credit scoring, budgeting, personal finance
Lead Writer | Personal finance, debt
Lead Assigning Editor | Personal finance, credit scoring, debt and money management
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
Visit your My NerdWallet Settings page to see all the writers you're following.
- Shopping for Medicare plans? We have you covered.
- Key takeaways about FDIC insurance
- Get details on Medicare coverage for:
- LOOKING TO SAVE ON INTEREST?
- 4.5
- Bank of America CD rates 2024
- Discover Bank CD rates
- How to maximize your rewards
- Auto insurance
- How to compare car insurance quotes
- Simplifying tax time with accounting software
- 1. Decide why you’re budgeting
- Environmental
- Create a Cash App account
- Pooling points vs. transferring
- 1. You may not be entitled to anything
- In this article
- 1. Sell your gently-used clothes to a thrift store
- Amazon
- Benefits of a joint bank account
- 1. Earn with ads as a YouTube Partner Program member
- 1. Cash in flexible travel rewards points
- Social
- GA income tax rates: Single filers
- 1. You’re excluded from meetings
- 1. Hyatt Ziva Cap Cana/Hyatt Zilara Cap Cana, Dominican Republic
- Go to the 'Buy Bitcoin' screen
- Why combine points?
- Enter your information
- How does my credit score impact personal loan offers?
- Alliant Credit Union: Best credit union
- 1. Buy REITs (real estate investment trusts)
- What it is
- You could pay less in interest
- 2. Sell sought-after gear to a pawnshop
- General qualifications
- Cheap full coverage auto insurance companies
- Roof size — $4,350 to $11,000 per thousand square feet
- AtoB
- 1. Ibotta
- 1. Pick up freelance work online
- Bitcoin pros
- Strengths
- Investment-based passive income ideas
- 1. Figure out if you are eligible
- Universal Studios Orlando
- Easy redemption but fewer perks
- 2. Use empowering language
- Governance
- GA income tax rates: Married filing jointly or head of household
- To save money on annual fees
- Average monthly expenses for one person:
- 1. Write a business plan
- Grants.gov
- When is the last day to file taxes?
- 1. Keep your charges on each card to a minimum
- 1. Roll your debts onto a balance transfer credit card
- Add purchase details and finalize
- 1. Check your EIN confirmation notice
- 1. Food trucks
- 1. Chase Ultimate Rewards®
- Understand the budgeting process
- 2023 saver's credit limits (taxes filed in 2024)
- How do I see my credit score for free?
- Ally Bank: Best bank and best CDs
- Home insurance quotes online
- 1. Standard brokerage account
- Pros
- 3. Sell gold or other precious metals
- Benefit we love: Discounted award flights
- 1. Cryptocurrency exchanges
- The Emirates economy class experience
- Standard with ads: $6.99 per month
- Price: Solar panels win
- Nonprofit and corporate grants
- What to know about cash advance apps
- Annual fee
- Average cost of car insurance for different driver profiles
- Monthly after-tax income
- Weaknesses
- Passive mutual funds
- Grab deals early, but keep receipts handy
- Child tax credit 2023 (taxes filed in 2024)
- Universal Studios Hollywood
- Front-end ratio
- VA loans
- You may lower your monthly payment
- GA income tax rates: Married filing separately
- Average monthly expenses for a family of 2:
- 2. You’re left off important emails
- Example 1. Start at $0 and save at your own pace
- Example savings APYs at select institutions
- State and local government grants
- Holiday Inn Express
- Will you pay a fee?
- Why it’s the best
- Equity of at least 15% to 20%
- Ally Bank Wire Transfer Fees
- 1. Dividend stocks
- 2024 saver's credit limits (taxes filed in 2025)
- Charles Schwab: Best for ATM access
- More income is sheltered
- 2. United can offer multiple types of compensation
- Choosing a card based on your spending
- 1. Decide how you want to invest in the stock market
- Cons
- 1. Tax on mutual funds if you get dividends or interest
- How to use Apple Pay
- 1. Painting and sculpture
- FHA refinance loans
- 4. Sell your spare change
- Appearance: Solar shingles win
- Save for a sizeable down payment
- 1. Donate to a qualifying organization
- Dogecoin vs. Shiba Inu
- Our pick for: Rich travel rewards
- Cheap auto insurance from large companies
- EBay
- Bitcoin cons
- Legal consequences of a joint bank account
- More perks and rewards toward travel
- 2. Check other places your EIN could be recorded
- Robo-advisors
- 50% of your income: needs
- Show your military ID
- Back-end ratio
- Conventional loans
- Realtor vs. real estate agent
- Average monthly expenses for a family of 3:
- 3. You stop getting new assignments
- Accident-free or 'good driver' discount
- 2. Traditional stockbrokers
- Size standards
- Standard: $15.49 per month
- Mortgages and home equity loans
- Mortgage lender’s requirements
- Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs
- 2. Park Hyatt St. Kitts Christophe Harbour, St. Kitts
- Coast
- 2. Car wash services
- Large-cap companies: $10 billion or more
- Bank of America Wire Transfer Fees
- Income taxes for single-member LLCs
- Nonrefundable tax credit
- Chase: Best for sign-up bonuses and best for branch access
- 1. Chase Sapphire Reserve®
- Tuesday and Friday flights can help you avoid the rush earlier in the week
- 2. Decide what type of investor you are
- 2. Use an online real estate investing platform
- Captive insurance agents
- Child tax credit 2024 (taxes filed in 2025)
- 2. Redeem rewards for Airbnb gift cards or cash back
- 3. Test out different budgeting methods
- You might be able to pay your loan off earlier
- 2. Greeting cards
- Concorde Room
- Pros
- You want to add authorized users
- $200 annual airline fee credit
- The Platinum Card® from American Express
- Materials — $4.25 to $39.70 per square foot
- In-flight food
- Flexibility: Solar panels win
- 1. Market your business and attract new clients
- Alliant: Best for fast funding
- 2. Ask for higher credit limits
- Consider all the costs of buying a second home
- Life insurance
- The risks of point-sharing
- 2. Tax on mutual funds if the fund managers generate capital gains
- Average monthly expenses for a family of 4:
- 4. Your work is reassigned
- Winner: Alaska Airlines
- Step 1: Choose a name for your LLC
- Get a 15-year mortgage
- Small Business Development Centers
- Seat classes
- Holiday Inn
- 2. Rakuten
- Bonanza
- A debt-to-income ratio below 50%
- Chase Wire Transfer Fees
- Refundable tax credit
- American Airlines AAdvantage
- Will pre-qualifying affect my credit score?
- Discover® Bank: Best online banking experience
- Look for competing sales and ask for price matching
- 1. Start with a budget
- How to activate Chase Pay Over Time
- You could possibly tap the equity in your car
- Difference between a real estate agent and a broker
- First class lounges
- Cons
- 5. Walk a dog or feed a pet while your neighbor is away
- $200 hotel credit
- 3. Bitcoin ATMs
- Premium: $22.99 per month
- Free checked bag
- Efficiency: Solar panels win
- Example 2. Start with $10,000 and make $400 in interest in one year
- Cash flow from operations
- EveryDollar
- 2. Test websites and apps
- Warren Buffett
- 2. Apply for a credit card consolidation loan
- Safer options
- 1. Equipment: $10,000 to $125,000
- 30% of your income: wants
- Complete Coverage
- 2. U.S. Bank rewards
- Active mutual funds
- Be realistic about how much you can make
- Wednesdays and Saturdays are the cheapest day to fly internationally
- Universal Orlando Resort
- 3. Delayed flights to or from the European Union may entitle you to cash
- 1. Contributions can be withdrawn at any time
- 3. Candles
- When you're over 5/24
- Average monthly expenses for a family of 5 or more:
- 5. You’re getting a cold shoulder from your boss
- Defensive driver discount
- Accident and illness plan
- Credit card debt
- Minority Business Development Agency Centers
- You decide: Is SHIB a good investment?
- What if I didn't get an extension?
- WEX
- The pros
- Cheap car insurance from midsize companies
- Travel benefits and protections
- Fund your practice
- 3. Call the IRS to locate your EIN
- Online financial planning services
- 3. Auto repair
- Wells Fargo Wire Transfer Fees
- 2. Dividend index funds and exchange-traded funds
- Visit with a fourth-grader
- Income taxes for multi-member LLCs
- Partially refundable tax credit
- What do I need to pre-qualify for a personal loan?
- SoFi: Best for checking account overall and best checking account for overdraft fee avoidance
- Required payment is cut in half
- 2. Chase Sapphire Preferred® Card
- 3. Think about investing in rental properties
- Independent insurance agents and brokers
- VA loans
- 1. The home must be your principal residence
- VA and USDA loans: 0% down payment
- Business class lounges
- 6. Babysit a kid for a great hourly rate
- Here are the current offers on Southwest consumer credit cards:
- $200 Uber Cash
- 4. Bitcoin exchange-traded funds
- 1. Paying for childcare under the table
- Average seats
- Lifespan/durability: It’s a tie
- Coverage limits
- 3. Hyatt Ziva Rose Hall/Hyatt Zilara Rose Hall, Jamaica
- First Tech: Best for co-sign and joint loan options
- Bonus miles on Delta purchases
- Why it’s the best
- 1. Get sponsored
- Getting the best HELOC rate
- You don't want to pay interest
- 2. Retirement accounts
- 3. Take advantage of travel statement credits
- Rolling your money into a new 401(k) or IRA
- Online savings account or money market account
- 4. Prioritize expenses and goals
- Potential for high returns
- 4. Antique curation
- 401(k)s vs. pension plans
- 6. You’re being micromanaged
- Telematics discount
- Bivvy Wellness Care
- Find your NAICS code
- The cheapest best full coverage car insurance companies
- Making reservations
- Credit Karma
- Fidelity Investments
- Commissions
- JetBlue TrueBlue
- Mid-cap companies: $2 billion to $10 billion
- 20% of your income: savings and debt
- A credit score over 620
- Show proof of permanent disability
- Asiana Club
- UFB Direct: Best savings account
- 3. Choose how much you want to invest
- DTI ratio examples
- What it is
- Conventional loans
- You could pay more in interest
- If your income exceeds the Roth IRA limits
- Where Exodus shines
- 7. Whip your neighbor's yard into shape
- To earn higher rewards on everyday purchases
- 2. Determine the costs
- You might save time
- Benefit we love: Increased award availability
- $189 Clear membership
- 2. Ignoring overseas income
- Labor — $60 per hour
- Car loan
- Refinance your mortgage
- Cash flow from investing
- 2. Document your charitable contributions
- 3. Set up balance alerts to stay on top of spending
- Decide how you'll finance your second home
- Your dollars could become more valuable
- Stock (equity) funds
- Alaska Airlines
- Fly on the holidays (or as far from it as possible)
- 2. Choose an investment account
- Conventional mortgages: As low as 3% down payment
- 5. Art consultant
- Arrivals lounges
- 7. You’ve reached a dead end
- 5. Peer-to-peer money transfer apps
- Chase Sapphire Reserve®
- Step 2: Provide an address for receiving official mail
- Best insurance company overall: Travelers
- Our pick for: Intro APR + high rewards on everyday spending
- The cons
- Choosing more than one trademark class
- Craigslist, Facebook Marketplace, Nextdoor, OfferUp
- 3. Learn to use AI tools
- 2. Incorporation fees: Under $300
- Log those volunteer hours
- Vio Bank: Best money market account
- Rewards and bundles can be tiebreakers
- 2. Create your envelope categories
- 3. Marriott Bonvoy Brilliant® American Express® Card
- 2. Take a cut with affiliate marketing
- 4. Be smart about how you ask
- Bring a bigger down payment to the table
- You might have to pay fees
- 2. You must have owned the home for at least two years
- If you already have the Chase Sapphire Preferred® Card
- Here are the current offers on Southwest business credit cards:
- $240 digital entertainment credit
- Locate the corresponding size standards
- Roof angle — varies
- Student loans
- What coverage you need
- 2. Score sponsorships
- Fast Break for Small Business
- Check-in
- PenFed: Best for a seamless application process
- Other fuel cards to consider
- 3. Swagbucks
- Goodbudget
- Check your plan's rules for 401(k) loans
- 4. Personal trainers
- Small-cap companies: $250 million to $2 billion
- Do tipped workers earn the minimum wage?
- 3. Pentagon Federal Credit Union (PenFed) Rewards
- Allow up to 50% of your income for needs
- Learn more about Zelle
- Choosing corporate tax status for your LLC
- Other ways may require more patience
- How long will it take to pre-qualify?
- Forgiveness comes sooner
- Reasons for unfreezing your credit
- You're competing against other buyers
- Pros
- 2. More time means more growth
- FHA loans: As low as 3.5% down payment
- 6. Graphic design
- How this calculator works
- VA refinance loans
- You’ll pay only for the days you need a car
- 6. Wallet software
- 3. Banking on cryptocurrency
- Michael Novogratz
- Homeowners insurance
- Frontier Airlines
- Traditional human financial advisors
- Personal loan calculator
- A strong history of paying bills on time
- Accident-Only
- Value funds
- American Airlines
- 4. Select a provider to open your Roth IRA
- Crashes and car theft
- Bring documents showing financial stability
- 5. Leave room for surprises
- Lower risk
- You could wind up upside down
- 3. You must have lived in the house for at least two years in the five-year period before you sold it
- What buyers and sellers should ask real estate agents
- If your income reduces your Roth IRA contribution
- Where Exodus falls short
- Stock mutual funds = higher potential returns (or losses)
- Earn cash (or pennies) back with rewards apps, in time
- You want cell phone protection
- Walmart+ monthly membership credit
- The best full coverage car insurance companies
- Additional cost considerations
- Example interest checking APYs at select institutions
- Pay more on your mortgage
- 4. Hyatt Regency Aruba Resort Spa and Casino, Aruba
- Cash flow from financing
- 4. Pay your bill before your issuer reports to the credit bureaus
- Drawing your trademark
- Free checked bags
- Cheap car insurance after a speeding ticket
- It’s never too early to plan
- Travel perks at no cost
- 1. Cash dividends
- Calculate whether you can afford loan payments
- The benefits of compound interest
- Average annual full coverage car insurance premium by company
- 3. Bonds and bond index funds
- Alaska Mileage Plan
- Prime Exclusive Deals are a barrier to savings for some shoppers
- 3. Limit spending to the envelopes
- The pros
- 5. You may be able to switch airlines
- Cash management account
- Cons
- VA loans
- Jumbo loans: As low as 5%-10% down payment (varies)
- Resident status rules
- 7. Calligraphy
- How to contact AARP
- Step 3: File your articles of organization
- Luma Solar
- 3. Office space: $100 to $1,000 per employee per month
- Get your credentials
- Why it’s the best
- Balanced funds
- Tips for unfreezing your credit
- Seller concessions
- Universal Studios Hollywood
- 3. Investing can trump saving over the long term
- Consider bringing your own financing
- How to use Google Pay
- State minimum car insurance requirements
- 1. Prepay your property taxes
- $300 Equinox credit
- IFundWomen Universal Grant Application Database
- Boarding
- 3. Don’t miss out on tax deductions for volunteering
- 1. Decide where to buy SHIB
- Navy Federal: Best for military members
- The pros
- Broker fees
- A decent base rate on all purchases
- 2. Stock dividends
- Qualify for a second-home mortgage
- Renters insurance
- Air Canada
- Preventive Care
- Tax credits for people with kids
- Cheapest full coverage car insurance in California for 20-year-olds
- 4. Marriott Bonvoy Boundless® Credit Card
- 4. Consider flipping investment properties
- Equity REITs
- Gift tax exclusion
- Outsized rewards through transfer partners
- How to activate My Chase Loan
- Consider staying off-property
- 6. Automate responsibly
- 4. You cannot have claimed the home sale capital gains exclusion recently
- Part-year resident status rules
- 8. Tattoo artist
- Drive for Uber or Lyft
- You can maximize rideshare discounts on days you don’t need a full rental car
- Alumni or membership discounts
- 4. Not reporting income from an all-cash business or illegal activities
- About the Miles & More frequent flyer program
- SunTegra
- Guaranteed issue life insurance monthly rates for men
- Price
- Poshmark
- 3. Tap your home equity for a loan or line of credit
- Learn what happens if you leave your job
- 5. Newborn and post-pregnancy services
- Average annual full coverage car insurance premium by age
- Leave 30% of your income for wants
- Other ways to book cheap award flights to South Africa
- How do I access a HELOC?
- You don't want to be at the mercy of an appraisal
- Damage you do to others
- Should you invest in retail stocks in 2023?
- Understanding your results
- What Exodus is best for
- 2. Save your registration statements
- 3. Insure your salon
- SoulCycle At-Home Bike credit
- How we picked the airlines to evaluate
- Chase Sapphire Preferred® Card
- Emirates economy class checked baggage policy
- 4. Fiverr
- 4. Inventory: 17% to 25% of your total budget
- 3. Dividend reinvestment programs (DRIPs)
- Blended funds
- Inflation will likely cut into your savings, but it won’t always be straightforward
- Unpaid interest is cancelled
- Mortgage REITs
- 3. Land a brand deal and make sponsored content
- The cons
- Estate tax exclusion
- Net worth of U.S. families by income
- How to roll over funds — and avoid tax missteps
- 4. The tax advantages are prime for kids
- 5. You cannot have bought the house through a like-kind exchange
- Nonresident status rules
- Bond mutual funds = lower returns (but lower risk)
- Ultimate Rewards® points are your preference
- Military and federal employees discount
- Hot wallet
- Tesla
- Amber Grant for Women
- 5. Hyatt Regency Grand Reserve Puerto Rico, Puerto Rico
- Credit cards that earn IHG points
- Guaranteed issue life insurance monthly rates for women
- 4. Keep the deadline in mind
- 5. Monitor your total credit utilization
- Delta Companion Certificate
- Ruby Lane
- 4. Take surveys for money
- Consider alternatives
- Hilton Honors
- Micro- and mega-cap companies
- 4. Real estate investment trusts (REITs)
- 4. Barclays rewards
- Delta Air Lines
- How much does a HELOC cost?
- 3. Investment accounts for kids
- 9. Art director
- USDA streamlined assist refinance loans
- 3. Scrutinize your closing paperwork
- $100 Saks Fifth Avenue credit
- Cheap full coverage car insurance companies by state
- Homeowners insurance
- Other student loan calculators
- Use gifts, bonuses and windfalls
- Loyalty program
- When are taxes due in October?
- Allegation of use
- Your money management style
- Cheap auto insurance after an accident
- 4. Special dividends
- Choose a legal structure
- Bond (fixed-income) funds
- 2. Promote your business
- You find it hard or impossible to get a mortgage
- HSAs and FSAs
- Injuries to you
- 6. Check your credit card for trip delay insurance
- Net worth of U.S. families by age
- Conventional loans
- 7. Revisit your budget monthly
- 6. You cannot be subject to expatriate tax
- Full coverage insurance
- Earned income restriction
- Exodus at a glance
- Benefit we love: Free in-flight Wi-Fi
- How we chose the winner
- Step 4: Obtain the proper New York business permits
- Debt collectors
- CertainTeed
- 3. Tap TikTok’s ‘Creativity Program Beta’
- Best insurance company for affordability: NJM
- Our pick for: Everyday spending
- Why it’s the best
- 6. Enrichment activities for children
- 1. Individual stocks
- Acknowledge how you feel about money
- Cheapest minimum coverage car insurance in California for 20-year-olds
- 5. Gather your paperwork
- Hybrid REITs
- Short-term bond funds
- 5. The money can be used for more than retirement
- 10. Photographer
- Money market mutual funds = lowest returns, lowest risk
- Pros
- You want 1:1 transfer partners
- Credit for Global Entry or TSA PreCheck
- How to get the best deal for a Lufthansa economy award flight
- National Association for the Self-Employed Growth Grant
- The cons
- Bonus features
- Etsy
- 5. Marketing: Below 10% of your total budget (even 0%)
- 5. Preferred dividends
- Break down your results
- Money market funds
- Commit 20% of your income to savings and debt paydown
- 5. Southwest Rapid Rewards® Plus Credit Card
- Book one to three months in advance
- Net worth of U.S. families by race or ethnicity
- Extra perks
- Cold wallet
- Home equity loan
- Earmark one partner’s salary
- 2. Fund your account
- 2. Mutual funds
- How much does it cost?
- What do I need for my loan application?
- Frontier Airlines
- 5. Rent out a room
- How much dwelling coverage do I have?
- 4. Sell some merch
- Earned Income tax credit
- 3. Learn the difference between investing in stocks and funds
- 11. Branding consultant
- Gap insurance
- Full details about Exodus' ratings
- Cons
- You redeem points to book travel
- 4. Choose a location and hire staff
- Airport lounge access
- Step 5: Publish notice of LLC formation
- Bizee’s Fresh Start Business Grant
- 6. Grand Hyatt Baha Mar, Bahamas
- International trademark registration
- Account linking
- 6. Dividend funds
- Work with a real estate agent to find your ideal second home
- 5. American Express Membership Rewards
- You'll come out ahead by investing the money
- Publicly-traded REITs
- Your stolen stuff
- Net worth of U.S. families by education
- Excess Roth IRA contributions
- Alternative energy discount
- How we assigned star ratings
- U.S. Bank Altitude™ Reserve Visa Infinite® Card
- Cheap full coverage auto insurance for drivers with an accident or DUI
- General cost
- 5. Upwork
- Airport lounge access
- 5. Make money from your blog with affiliate links
- Credit cards for earning American AAdvantage miles
- 4. Borrow from your 401(k)
- Get licensed
- World of Hyatt
- 7. Mobile apps and entertainment for children
- 5. Money market funds
- Set boundaries
- 12. Art teacher
- Example CD APYs at select institutions
- Swappa, Gazelle
- 6. Website: Around $40 per month
- Resident status rules
- Know what’s inside
- Cheapest auto insurance in California for 20-year-olds with poor credit
- JetBlue Airways
- 6. Pick your investments
- Leaving your money in your old 401(k)
- Showers
- Government bonds
- Anti-theft devices discount
- How we verified our data
- Short-term funding
- Home equity line of credit (HELOC)
- 3. Make your purchase
- Fleet expense management tools
- Responding to trademark office actions or oppositions
- Security
- Cheapest car insurance after a DUI
- Marriott Bonvoy
- Average annual car insurance costs from large companies
- 3. Index funds
- 1. Dividend payments
- 6. United℠ Explorer Card
- Appraisal fee
- 1. Avoid filing your tax return on paper
- Public non-traded REITs
- 5. Offer memberships
- What’s next?
- Watch the calendar
- Two-day ticket deals
- When dining out
- NFIP
- 4. Use gifting
- Venmo Small Business Grant
- SkyMiles value
- 8. Shared accessories and attire
- 6. Capital One Rewards
- Tax credits for low-to-middle-income households
- Set a price alert
- How are my belongings covered?
- Bank certificates of deposit, or CDs
- How to use Samsung Pay
- VA loans
- New car discount
- 1. Automate transfers
- 7. The Liming Bequia, St. Vincent and the Grenadines
- Dividend per share (DPS)
- 2. Capital gains
- 3. Sell your castoffs
- Use miles to fly to South Africa
- Discount points
- 2. Get direct deposit
- Set cash aside
- Step 6: Create an LLC operating agreement
- Government grants
- Customer support
- 6. Sell your wares on Etsy
- Chase Ultimate Rewards®
- Seek support
- Don't just forget about it
- Southwest Airlines
- Rebook if you find a cheaper price
- You'll need the cash for other things
- How quickly could the IRS implement the child tax credit expansion?
- Conventional loans
- 5. Market your salon
- Safety equipment discount
- Benefit we love: Annual companion fare
- Solar panel incentives by state
- Medium-term funding
- Cash-out refinance
- 4. Store your SHIB safely
- Our pick for: Flat-rate travel rewards
- 7. Office furniture and supplies: 10% of your total budget
- Dividend yield
- Part-year resident status rules
- Deductibles
- 3. Net asset value
- Book intra-South Africa flights using Chase Ultimate Rewards® points
- Cheapest auto insurance in California for 20-year-old drivers with one speeding ticket
- 3. Stay on top of things
- Is there enough liability coverage?
- Private REITs
- Appendix: How the math works in our examples
- New car replacement coverage
- How to transfer points from Chase to Southwest
- Citi Prestige® Card
- Example money market account APYs at select institutions
- The Amplifier Grant
- Safety ratings
- Best insurance company for accident forgiveness: Geico
- 6. OfferUp
- 6. High-yield savings accounts
- 7. Citi ThankYou Points
- 7. Delta SkyMiles® Gold American Express Card
- Escrow account funds
- Consider using a retirement account
- Three-day ticket deals
- 2. Count your coins and bills
- Cheap full coverage car insurance for drivers with poor credit
- Benefits
- User experience
- 5. Enter a debt management plan
- Reimbursement amounts
- 4. Earn badges through Live videos
- 4. Education accounts
- Cash out your 401(k) — which is rarely recommended
- Utility-based clean energy incentives
- Personal loan
- Use the Best Fare Finder and pay in cash
- Private flood insurance
- Winter storms and freezing temperatures
- Cheapest auto insurance for poor credit
- 8. Utilities: Around $2 per square foot of office space
- HawaiianMiles (cardmembers only)
- 9. Shared home improvement equipment
- Learn more about SBA loans:
- Be flexible with destination, airport and dates
- 4. One more thing to know about your tax refund
- What are the deductibles?
- 4. Set a budget for your stock market investment
- Spa
- Longer-term funding sources
- 5. Sell with TikTok Shop
- FedEx Small Business Grant Contest
- Drawbacks
- Reviews
- Earn Medallion Qualifying Dollars through credit card spend
- 7. Self-publish an e-book
- Nonresident status rules
- Coverage limits
- Pros
- Tax credits for investing in retirement
- Flood determination and monitoring fees
- Allianz Global Assistance
- 1. Choose to DIY or get some help
- Corporate bonds
- 3. Prep for grocery shopping
- Step 7: Keep your LLC active
- Reliability
- Earthquakes
- Where is the best place to exchange currency?
- Dividend payout ratio
- How much is auto insurance after an at-fault accident?
- 4. Exchange-traded funds
- 8. Bank of America® rewards
- Cheapest auto insurance in California for 20-year-old drivers with one at-fault crash
- SAVE benefits available by October 2023
- Spirit Airlines
- 6. Account for other miscellaneous expenses
- VA loans
- 1. Live in the house for at least two years
- 6. Scale carefully
- Roofing contractor financing
- Tory Burch Foundation Fellows Program
- 9. Payroll: 25% to 50% of your total budget
- 7. CDs
- Government recording fees
- Bonzah
- Quiet room
- Good student discount
- Book Emirates economy fares on points
- Customer satisfaction
- How do I find a currency exchange near me?
- 7. Poshmark
- Cons
- 5. Build a community
- Use AutoSlash to get a cheap rental car
- SAVE benefit starting in February 2024
- Conventional loans
- 2. See whether you qualify for an exception
- Wildfires
- Global Entry or TSA PreCheck credit
- 10. Vacation rentals
- Loan-origination charges
- Pros
- Rental Cover
- 5. ABLE Accounts
- Homeowner discount
- Capital One Venture X Rewards Credit Card
- 6. Monetize using the Series feature
- Where can you exchange currency for free?
- 8. Get advertising revenue from your blog or YouTube channel
- Property-based passive income ideas
- Tax credits for education
- SAVE benefits available by July 2024
- United Airlines
- 8. The Platinum Card® from American Express
- 3. Keep the receipts for your home improvements
- Service
- More from NerdWallet
- Benefit we love: Rebates on award flights
- Volcanic activity
- Our pick for: Customizable bonus categories
- Cryptocurrency pros
- Stay at Marriott's Protea Kruger Gate
- Cheapest auto insurance in California for 20-year-old drivers after a DUI
- Mortgage insurance or fees for government-backed loans
- Cons
- Sure
- 5. Focus on investing for the long-term
- Other details you should know about Exodus
- Student away-at-school discount
- 4. Minimize restaurant spending
- Step 8: Comply With federal requirements, such as obtaining an employer identification number
- Help For Felons
- Best insurance company for having few customer complaints: American Family
- 10. Professional consultants: Between $1,000 and $5,000 per year
- 11. Electronics repair
- 1. Decide what type of investor you are.
- Cryptocurrency pros
- Gifting large sums of money to family
- Flooding
- Cell phone protection coverage
- 8. Buy a rental property
- Pay off debt
- Don’t forget the fifth-freedom flights
- Inmates to Entrepreneurs
- Cryptocurrency cons
- California earned income tax credit (CalEITC)
- Pest inspection
- Transfer points from Diners Club
- Flooding
- 7. Collect tips from viewers
- Perks that are the same across cards
- Cheapest car insurance for young drivers
- Cryptocurrency cons
- Is Exodus right for you?
- 5. Get discounts on entertainment
- Paying for vacations, cars or other stuff
- Defy Ventures
- 9. Become an Instagram influencer
- California young child tax credit (YCTC)
- 9. Rent out your own house
- 9. Capital One Venture Rewards Credit Card
- Prepaid expenses
- Avoid taking on more debt
- 6. Manage your stock portfolio
- 2. Know your own ESG criteria
- Buy wine with Laithwaites
- Average car insurance costs after a speeding ticket
- Giving a laid-back loan
- Capital One Venture Rewards Credit Card
- Bring the kids
- Project ReMADE
- California child and dependent care tax credit
- 12. Academics courses
- Tax credits for green purchases
- Cheapest full coverage car insurance in California for 30-year-olds
- Wait to apply
- How we review crypto wallets
- Loyalty discount
- Order gourmet gifts from Harry & David
- 6. Map out major purchases
- 11. Insurance: Average of $1,200 per year
- 10. Get a roommate
- Tax monitoring and research fees
- 3. Choose ESG investments
- Winter storms
- Setting up joint bank accounts
- California adoption cost tax credit
- 2. Choose how much you want to invest.
- Multiple cars discount
- Get meal kits delivered from Home Chef
- Benefit we love: Bonus miles for credit card spending
- Find your niche
- Our pick for: Bank of America® customers
- 10. Monetize your Twitch channel
- Alternative investment passive income ideas
- Title-related costs
- Entre Capital
- Best insurance company for financial strength: Auto-Owners
- Cheapest auto insurance for senior drivers
- California nonrefundable renters tax credit
- 13. Language courses
- 10. Hilton Honors American Express Aspire Card
- Multiple policy (bundling) discount
- 7. Restrict online shopping
- Comparing full coverage car insurance quotes
- Average car insurance costs after a DUI
- 3. Gather your paperwork.
- Cheapest minimum coverage car insurance in California for 30-year-olds
- 12. Taxes: Variable, but 21% corporate tax rate
- 11. Peer-to-peer lending
- Use the Southwest Rapid Rewards Shopping site
- Refoundry
- 11. Peer-to-peer lending
- 8. Delay purchases with the 30-day rule
- American Express® Gold Card
- Be authentic
- 11. Sell your photography
- Pros
- 14. Business or marketing courses
- 4. Pick your investments.
- Small Business Development Centers
- 13. Travel: Variable
- 12. Private equity
- Cheapest auto insurance in California for 30-year-olds with poor credit
- Real estate agent commissions
- Automatic payments discount
- Get the Southwest button browser add-on
- Benefit we love: Free premium drink
- 9. Get creative with gifts
- 12. Private equity
- Our pick for: Paying rent
- Property and transfer taxes
- Serve your audience and set small goals
- Cons
- 14. Shipping: Variable
- 15. Personal wellness
- Early shopper discount
- Best insurance company for discounts: Amica
- Title insurance
- 13. Crypto staking
- Cheapest auto insurance in California for 30-year-old drivers with one speeding ticket
- Paid-in-full discount
- 10. Lower your car costs
- Capital One Savor Cash Rewards Credit Card*
- Use multiple strategies
- 13. Crypto staking
- 12. Become a dog walker with Rover or Wag
- ASPCA vs. Nationwide pet insurance
- Your house
- Paperless discount
- 16. Courses in hobbies or interests
- 11. Reduce your gas usage
- Average annual car insurance costs for drivers with good vs. poor credit
- Your location
- Secure funding
- Cheapest auto insurance in California for 30-year-old drivers with one at-fault crash
- Product creation passive income ideas
- You and your stuff
- 13. Sell unused gift cards
- 17. Bookkeeping and accounting
- ASPCA vs. Embrace
- 12. Bundle cable and internet
- Citi® / AAdvantage® Executive World Elite Mastercard®
- Product creation passive income ideas
- Individual stocks
- Roth IRA withdrawal rules
- 14. Write content
- Get a business credit card
- Cheapest auto insurance in California for 30-year-old drivers after a DUI
- 13. Switch your cell phone plan
- 14. Write content
- Best insurance company for customer satisfaction: State Farm
- 18. Consulting
- Roth IRA withdrawal penalty
- 14. List your spare bedroom on Airbnb
- Ask about discounts
- ASPCA vs. Healthy Paws
- Dividend stocks
- Consider overall premium cost, not just discounts
- 14. Reduce your electric bill
- Delta SkyMiles® Platinum Business American Express Card
- How much is auto insurance for young drivers?
- 15. Publish a digital course
- Shop around
- 1. What is the average cost to start a small business?
- 19. IT support
- Cheapest full coverage car insurance in California for 40-year-olds
- 15. Lower your student loan payments
- 15. Publish a digital course
- 2. How do you calculate startup costs?
- Car-related passive income ideas
- Best insurance company for military members: USAA
- 15. Sell your gently used clothes
- 16. Cancel unnecessary subscriptions
- Car-related passive income ideas
- 20. Graphic design
- United Club℠ Infinite Card
- 3. Are business startup costs tax-deductible?
- 16. Wrap your car with ads
- Cheapest minimum coverage car insurance in California for 40-year-olds
- 17. Refinance your mortgage
- 16. Wrap your car with ads
- Average annual car insurance costs for young drivers by company
- 4. What is considered a startup cost?
- 17. Rent out a parking space
- 16. Trade in old phones, electronics for cash
- 21. Social media management
- 18. Set savings goals
- 17. Rent out a parking space
- Cheapest auto insurance in California for 40-year-olds with poor credit
- Transfer hotel points
- Marriott Bonvoy Brilliant® American Express® Card
- 17. Get a babysitting gig
- 22. Marketing copywriter
- Earn Southwest points for stays
- 19. Track spending
- Cheapest auto insurance in California for 40-year-old drivers with one speeding ticket
- 23. Virtual assistant services
- Book accommodations in the Southwest Hotels portal
- 20. Pay off high-interest debt
- 18. Rent out your car
- Cheapest auto insurance in California for 40-year-old drivers with one at-fault crash
- 21. Keep savings in a high-yield savings account
- Prime Visa
- Book stays via Rocketmiles
- 22. Create a 50/30/20 budget
- 1. Do your research
- 19. Sign up for TaskRabbit
- Cheapest auto insurance in California for 40-year-old drivers after a DUI
- 2. Get organized and make it official
- Verizon Visa® Card
- 23. Shop consignment and thrift stores
- 20. Become a private tutor
- 3. Find the right financing
- Cheapest full coverage car insurance in California for 50-year-olds
- 24. Join initiatives to get free items
- 21. Drive for Uber, Lyft
- Cheapest minimum coverage car insurance in California for 50-year-olds
- 25. Use car sharing services
- 22. Make deliveries for Amazon, Uber Eats
- Cheapest auto insurance in California for 50-year-olds with poor credit
- 26. Stock up on household supplies when they’re cheap
- 23. Find work as a housesitter
- 27. Enjoy community events
- Cheapest auto insurance in California for 50-year-old drivers with one speeding ticket
- 24. Sign up to be a mystery shopper
- 28. Cash in on your birthday
- Cheapest auto insurance in California for 50-year-old drivers with one at-fault crash
- 25. Put your drone to work
- Cheapest auto insurance in California for 50-year-old drivers after a DUI
- Cheapest full coverage car insurance in California for 60-year-olds
- Cheapest minimum coverage car insurance in California for 60-year-olds
- Cheapest auto insurance in California for 60-year-olds with poor credit
- Cheapest auto insurance in California for 60-year-old drivers with one speeding ticket
- Cheapest auto insurance in California for 60-year-old drivers with one at-fault crash
- Cheapest auto insurance in California for 60-year-old drivers after a DUI
- Cheapest full coverage car insurance in California for 70-year-olds
- Cheapest minimum coverage car insurance in California for 70-year-olds
- Cheapest auto insurance in California for 70-year-olds with poor credit
- Cheapest auto insurance in California for 70-year-old drivers with one speeding ticket
- Cheapest auto insurance in California for 70-year-old drivers with one at-fault crash
- Cheapest auto insurance in California for 70-year-old drivers after a DUI
- Auto insurance laws in California
- Low-income car insurance in California
Your credit utilization is simply the portion of your available credit you use, expressed as a percentage. It is the total of balances on all your credit cards divided by the total of all your credit limits. (It's also figured on a per-card basis.) This number is a big factor in your credit score — the less available credit you use, the better it is for your score.
Here’s how to keep your utilization low.
Why is having a low credit utilization important?
Paying your balances on time and in full every month is the best way to keep your score intact or build it. On the other hand, using a larger portion of your credit limit could do damage. Credit utilization accounts for around 20% to 30% of your credit scores.
But if a financial crisis means you have to lean on credit cards, take heart: Credit scores can rebound quickly once you're able to lower your utilization.
How to lower your credit utilization
1. Keep your charges on each card to a minimum
The simplest way to avoid losing credit score points for using too much of your limits is to watch how much you charge to each card. Make a habit of patrolling your online accounts to keep tabs on spending. If you are close to using 30% of your credit limit on one card, try to make a payment or switch to using another card.
Simply getting into the habit of paying twice per month instead of once could help you decrease your credit usage. Lower balances can save you interest if you carry a balance — and are good for your credit score regardless.
You can also monitor your per-card and overall credit utilization by viewing your credit score profile from NerdWallet.
2. Ask for higher credit limits
If it’s tough for you to avoid utilizing more than 30% of your available credit, another solution might be to request a credit line increase on your card or cards. Getting a credit limit increase might require you to call your card issuer or make the request online. Sometimes increases are offered automatically if you’ve had your card for a while and have a positive payment history, so be on the lookout for those offers when you log in to your account.
Another option to get a higher overall credit limit is to ask a friend or relative to add you as an authorized user on an established account. The primary user doesn't even have to give you a card or tell you the account number for your credit score to benefit. Do choose carefully: Being on the account of someone who is having problems with credit could affect your score, too. You want to be on an account showing good payment history, preferably with a high credit limit and consistently low credit utilization.
A higher overall credit limit could help you keep your credit utilization lower than it would be otherwise. This could make a big difference in your credit score. You can check your own credit to see the effect (and it won't hurt your score).
3. Set up balance alerts to stay on top of spending
If you find yourself consistently overspending, setting up balance alerts can help keep your spending in check.
Sign up with your credit card issuer to receive alerts via text message or email. You can choose to be alerted when the balance reaches a certain amount or percentage of your credit limit. Your goal is to keep the balance below 30%.
4. Pay your bill before your issuer reports to the credit bureaus
Most credit card issuers report your balance and payment activity to the credit bureaus once every 30 days. However, this doesn’t necessarily coincide nicely with when your bill is due. If your issuer reports a few days before the end of your billing cycle, you’ll consistently look like you’re carrying a high balance — even if you pay it off in full just a few days later.
Place a call to your card issuer’s customer service line to find out when it reports to the credit bureaus. Simply pay off as much of your balance as you can in advance of that date every month, and you might see a jump in your score.
5. Monitor your total credit utilization
If you have multiple credit cards, it might be hard to view the bigger picture of your credit utilization. Using the calculator below, input your credit card balances and limits to check whether you're under the recommended 30% utilization threshold.
If you’re creeping up to that limit, do your best to pay down your balances and explore ways to stop spending money.