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10 Sneaky Ways You Could Be Losing Money Right Now

From hidden fees and overpriced insurance to high-interest debt, small money leaks can quietly add up over time. Read on to learn some of the sneaky ways you could be losing money right now.

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1.

Forgetting To Check This Year's Auto Insurance Rates

If you’re like most drivers, you probably don’t love the thought of overpaying for car insurance — but many people do without realizing it. Rates can vary by thousands of dollars a year depending on your insurer, driving history, where you live, and even how recently you've gotten a quote. Shopping around and comparing quotes regularly can uncover significant savings — sometimes enough to cover other monthly bills.

Here’s how to check your rates:

  1. Click the link below and enter your zip code, date of birth, and phone number.

  2. Answer a few questions about your car’s make and model to get matched with top offers.

  3. Choose the best quote for you and lock it in before rates go up.

2.

Paying Credit Card Interest When You Could Be "Pausing" It Instead

Want to pay off your debt with less money in a shorter amount of time, or finance a big purchase without paying interest?

A 0% intro APR credit card could help you save hundreds (or even thousands) in interest - and potentially get rid of your debt faster, if you pay it off within the 0% intro interest period. Some even have 0% Introductory periods for new purchases.

Our Nerds researched 280 credit cards, narrowing down to just one winner per category. See their pick for the Best Balance Transfer Credit Card of 2026 below.

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BEST BALANCE TRANSFER CREDIT CARD 2026

Citi Simplicity® Card

Citibank Simplicity Credit Card

Citi Simplicity® Card

Apply now
on Citibank's application

Annual fee

$0

Rewards rate

N/A

Intro offer

N/A

Recommended credit score

690-850 (Good - Excellent)

Get your free credit score

Recommended credit score

690-850 (Good - Excellent)

Get your free credit score

Purchase intro APR

0% intro APR on purchases for 18 months

Balance transfer APR

0% intro APR on balance transfers for 18 months

APR

17.49%-28.24% Variable APR

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WHY OUR NERDS LOVE IT

Sparkle icon

This card’s long 0% intro APR on balance transfers, low transfer fee and lack of late fees make it a standout choice. (EDITOR'S NOTE: This card had a 21-month intro APR on balance transfers when it received this award.)

3.

Overpaying For Financial Planning

When it comes to building your retirement savings, fees can make a big difference. Even a small percentage taken out each year can quietly eat into your returns and shrink your long-term nest egg. But not all financial advisors charge the same way — some are fee-only (charging a flat or hourly rate), while others take a percentage of assets under management or earn commissions from the products they recommend.

Take this free advisor-matching quiz to receive up to three financial advisor matches. It’s a quick way to explore who might be the best fit — and to understand how their fee structures align with your financial goals.

4.

Not Realizing You Can Tap Into Your Home's Equity For Cash

If you’ve built up equity in your home, a home equity line of credit (HELOC) can give you a way to tap into it. It works a bit like a credit card: you’re approved for a set limit and can borrow from it as needed — often at lower interest rates than other types of credit.

A HELOC can be a flexible option for covering expenses like home improvements, consolidating higher-interest debt or handling larger costs, all without replacing your current mortgage. Here's how it works:

  • Borrow from your available credit line as needed
  • Pay interest only on the amount you use
  • Access funds during a set draw period, typically several years

If you’re exploring whether a HELOC makes sense, tools like NerdWallet’s comparison tool can help you navigate getting a HELOC and compare offers from multiple lenders.

5.

Continuing To Pay Credit Card Interest When You Should Be Pausing It

The Discover it® Cash Back is a great pick if you like earning big rewards without paying an annual fee. You’ll earn 5% cash back on popular categories that rotate each quarter (up to $1,500 in spending) — think things like grocery stores, gas stations, restaurants, and online shopping. Just remember to activate each quarter. For everything else, you still get a solid 1% back.

What really makes this card stand out? Discover matches all the cash back you earn at the end of your first year. That means if you rack up $200, they’ll double it to $400—automatically. No hoops, no limits.

There’s also a 0% intro APR for 18 months on both purchases and balance transfers, so you’ve got some breathing room if you’re making a big purchase or tackling existing debt (then a 17.49%-26.49% Variable APR applies).

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EXCELLENT FOR LESS THAN PERFECT CREDIT

Discover it® Cash Back - 18 Month Intro Balance Transfer Offer

Discover it® Cash Back

Discover it® Cash Back - 18 Month Intro Balance Transfer Offer

Apply now
on Discover's website

Annual fee

$0

Rewards rate

1%-5%

Cashback

Intro offer

Cashback Match™

Regular APR

17.49%-26.49% Variable APR

Recommended credit score

690-850 (Good - Excellent)

Get your free credit score

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WHY OUR NERDS LOVE IT

Sparkle icon

This card offers ideal features for its category, like no annual fee and automatic reviews for a potential upgrade to an unsecured card. It even earns rewards.

X.

Chase Freedom Unlimited Review: A Potential One-Card Solution

The Chase Freedom Unlimited® from Chase offers a compelling combination of valuable rewards, flexible redemption options, a lengthy 0% introductory APR period (then a 18.24%-27.74% Variable APR) and a great sign-up bonus — all for an annual fee of $0.

The card earns 3% cash back on restaurants and drugstore purchases, 5% back on travel booked through Chase and 1.5% back on other purchases. Put that together and you have a card that can really pile up the cash back. And if you’re like me and carry other credit cards that also earn Chase Ultimate Rewards® points, it packs even more value.

X.

A 0% Intro APR Window That Can Reshape Your Finances (it’s insane a card like this exists)

If you’re looking for a way to earn more from your everyday spending — while keeping interest costs low — the Citi Strata℠ Card from Citibank is a strong pick for 2025.

For a limited time, new cardholders can earn 20,000 bonus Points after spending $1,000 in the first 3 months of account opening. That bonus is worth $300 when redeemed for gift cards or travel through Citi ThankYou® Rewards — one of the most valuable no-annual-fee welcome offers available right now. With the ability to earn up to 5x points on every dollar spent this card helps your money stretch further. The card also comes with a 0% introductory APR for 15 months on purchases and balance transfers (then a 18.49%-28.49% Variable APR). That means you can make big purchases or consolidate higher-interest credit card balances and enjoy no interest until 2027 — giving you extra breathing room in your budget.

Citi Strata℠ Card

Citi Strata℠ Card
Apply now
on Citibank's application

Annual fee

$0

Rewards rate

1x-5x 

Intro offer

20,000 

Recommended credit score

690-850  (Good - Excellent)

Balance transfer intro APR

0% intro APR on purchases and balance transfers for 15 months

Regular APR

18.49%-28.49% Variable APR

5.

Sticking With The Same Home Insurance For More Than A Year

Homeowners often renew their insurance automatically without checking new rates — and that can be costly. Comparing multiple quotes from different insurers lets you see if you can find a lower rate for similar (or better) coverage.

Homeowners who compare could save $1,000/year or more. It takes only a few minutes to check, and it’s worth doing annually or after any major home update.

6.

Using The Wrong Travel Card

With the right travel credit card, every purchase can bring you closer to your next trip. The points or miles you earn on everyday spending — like groceries, gas, or dining out — can be redeemed for flights, hotel stays, or vacation upgrades. Over time, those rewards can add up to significant savings when it’s time to book your next getaway.

We’ve rounded up some of the top travel cards from our partners that make it easier (and more affordable) to turn your spending into your next adventure.

See below for NerdWallet's Best Of Award Winning Travel Rewards Card for 2026.

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BEST ALL-PURPOSE TRAVEL REWARDS CARD 2026

Chase Sapphire Preferred® Card

Chase Sapphire Preferred Credit Card

Chase Sapphire Preferred® Card

Apply now
on Chase's website

Annual fee

$95

Rewards rate

1x-5x

Points

Intro offer

75,000

Points

Regular APR

19.24%-27.49% Variable APR

Recommended credit score

690-850 (Good - Excellent)

Get your free credit score

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WHY OUR NERDS LOVE IT

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Even though this card lost its 1.25-cent redemption rate on certain travel, its rich rewards, multiple transfer partners and primary rental car insurance still make it nearly a must-have for travelers.

7.

Easy Earnings, Effortless Redemptions With This Travel Card

LIMITED-TIME OFFER: Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening - that’s equal to $1,000 in travel.

The Capital One Venture Rewards Credit Card is one of the most popular credit cards on the market — and for good reason. Unlike the airline-branded cards it was designed to compete against, it pays a high rewards rate on every purchase (not just on travel spending), and you can use its rewards to pay for any travel expense, without any restrictions on when you travel, which airline you fly or which hotel you stay at. Throw in a big bonus for new cardholders, and it's no wonder this card is a favorite of so many people.

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Our pick for: Easy Earnings, Effortless Redemptions

Capital One Venture Rewards Credit Card

Capital One Venture Rewards Credit Card

Capital One Venture Rewards Credit Card

Apply now
on Capital One's website

Annual fee

$95

Rewards rate

2x-5x

Miles

Intro offer

75,000

Miles

Regular APR

19.49%-28.49% Variable APR

Recommended credit score

690-850 (Good - Excellent)

Get your free credit score

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WHY OUR NERDS LOVE IT

Sparkle icon

A big sign-up bonus, high rewards and flexible redemption make this card worth the annual fee.

7.

Owning A Home Without A Warranty

Most homeowners don’t think about protection until something breaks. And by then? The repair bill can hit hard. Before you pay hundreds — or possibly thousands — to a contractor, it may be worth looking at a home warranty from Choice Home Warranty, a company that’s been operating since 2008.

Here’s why some homeowners consider it:

If your furnace fails and the repair costs $3,000 or more, that’s a tough bill to absorb all at once. A home warranty that runs around $100 per month — plus a service fee — could cost far less over time than paying for a major breakdown entirely out of pocket. For some homeowners, trading one large surprise expense for predictable monthly payments can make budgeting a lot easier.

Choice Home Warranty offers plans covering major home systems and appliances, and claims can be filed 24/7 online or by phone. If you’d rather not be caught off guard by your next repair bill, it may be worth reviewing their current plans and pricing before something breaks.

8.

Not Maximizing The Return On Your Cash

Many people open their first savings account when they’re young and then stick with it for years, even as better options emerge. Research shows this “banking inertia” is common—customers are often reluctant to switch due to hassle, complexity, or simple habit. Banks count on that customer behavior when setting rates and as a result, many savers leave a significant amount of money on the table.

Voted NerdWallet's Best Bank 2026, SoFi offers an attractive APY. For a limited time, open a new high yield savings account and earn up to Up to 4.00% APY for six months. Plus, enjoy no account fees, no minimums, and a cash bonus up to $400. More details below.

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BEST BANK 2026

SoFi Checking and Savings

SoFi Checking and Savings
Learn more
at SoFi Bank, N.A., Member FDIC

SoFi Checking and Savings

APY

Up to 4.00%

With $0 min. balance for APY

Bonus

$400 + 0.70% APY

Earn up to $400 and +0.70% Boost on Savings APY. Terms apply.

Monthly fee

$0

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WHY OUR NERDS LOVE IT

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SoFi® has competitive rates and no monthly fees on its checking and savings accounts. The online bank goes beyond basics with multiple savings tools, fast money transfers and a strong overdraft program.

9.

Believing That Credit Cards Are The "Only Way To Borrow"

Whether you’re consolidating balances or planning a major expense like a wedding or vacation, financing big purchases with a fixed-rate loan may be the best way to save on interest and simplify your payments. Many lenders let you compare multiple loan options without impacting your credit score, making it easier to find a loan that fits your budget and goals.

10.

Set Up Direct Deposit and Pocket Up To $350

Chime is offering a new account sign-up bonus of $350 and in 2026, Chime® Checking Account won NerdWallet’s annual award for best overall checking account. Chime also won the annual award for best online banking experience.

To earn $250, open your first Chime Checking Account and receive a qualifying direct deposit of at least $500 within 30 days of opening; then, activate your physical Chime Visa card within 14 days of receiving the qualifying direct deposit. To earn an additional $100, use your Chime Visa card to make eligible purchases within the first 30 days of account opening. You'll receive as much as 10% in cash back per purchase, up to a total of $100.

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BEST CHECKING ACCOUNT OVERALL 2026

Chime® Checking Account

Chime® Checking Account
Learn more
at Chime®

Chime® Checking Account

APY

N/A

Bonus

Up to $350

Requirements to qualify

Monthly fee

$0

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WHY OUR NERDS LOVE IT

Sparkle icon

Chime’s checking account has no monthly fees and gives customers access to tens of thousands of ATMs. It has a robust overdraft buffer program that allows customers to overdraft up to $200 as long as they meet a minimal direct deposit requirement.

10.

$20k Or More In Debt, But Have Not Consulted A Professional To Help

If you’re juggling multiple debts or struggling to make minimum payments, a debt relief program could be worth exploring. Some firms work with your creditors to reduce what you owe and simplify repayment into one manageable monthly payment. NerdWallet makes it easy to find out if you qualify for debt relief. Simply click the link below and answer some questions to see if you qualify.