3 easy ways to stretch your money in 2024

Do you feel like your money just doesn't go as far as it used to? 

The reality is that thanks to inflation, it doesn't. That can make it harder for you to get ahead if you're working on saving, paying down debt, or other goals. 

So what do you do? You look for some creative ways to make the most of every dollar. Here are a few of our favorite ways to do it. 

Here’s how to stretch your bank account 

1. Declutter your subscriptions

It seems like everything requires a subscription these days, right? One of the easiest ways to manage your money better and add cash back to your budget is to ditch recurring charges for services you're not using. 

Some of the subscription services you could cancel to save money include:

• Music streaming services

• TV and movie streaming services

• Gaming subscriptions

• Subscriptions to print or digital newspapers and magazines

• Paid credit monitoring services (look for a free option instead)

• Software subscriptions

There are personal finance apps that can help you find unwanted subscriptions to cancel, but some charge a fee. You could use a free budgeting app instead to review your spending and decide what to cut. 

2. Quit the gym (membership)

Getting healthy may be one of your goals for 2024 and if you're trying to stretch your money, canceling your gym (or yoga studio or CrossFit club) membership can help you get financially fit.

You can replace the gym with free exercise options, such as:

• Walking

• Jogging

• Biking

• Free YouTube workouts 

If your fitness routine isn't complete without lifting weights, consider buying a set you can use at home. Spend less by buying used equipment that's still in good shape. Check Facebook Marketplace, Craigslist, OfferUp, or even a local pawn shop. 

3. Tackle your debt

Debt payments can drag your budget down so it makes sense to get rid of them sooner rather than later. If you've got credit cards, loans, or other debts, make getting rid of them one of your big financial goals for 2024. 

There are different ways to pay down debt, depending on what you owe. Here are a few strategies you might try:

• Choose a DIY debt payoff strategy like the snowball or avalanche. 

• Use a debt paydown app to make a customized plan to ditch your debt.

• Consolidate debts to streamline payments and potentially lower your interest rate.

• If you’re stuck in a hard spot because of a financial hardship, you might be able to negotiate with your creditors to let you get rid of your debt for less than the full amount you owe. You can do this yourself, or work with a reputable debt relief company.

If you're not sure what's right for you, talk to a debt expert who can guide you through the options so you can take action and get closer to financial freedom.