Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as "Credible."
It’s easy to land in a low-cash situation — no matter how careful you are with your money. Maybe you lost your job, had to use a credit card to make ends meet, and don’t know what to do about the debt you racked up. Or maybe your student loan payments have ballooned into a massive burden each time the monthly payment comes calling.
Whatever the case, you’re probably wondering if there’s any way to turn things around. Luckily, the answer is “yes.”
Here are five strategies that could save you money fast:
- Consolidate your debt with a personal loan
- Earn extra interest with a high-yield savings accounts
- Switch up your car insurance policy
- Take control of credit card debt with a 0% balance transfer card
- Slash your interest rate by refinancing your student loans
1. Consolidate your debt with a personal loan
Having a bunch of high-interest debt could be slowly bleeding your bank account to nothing. Even if you keep making the minimum payments on your accounts, it might feel like there’s no end in sight. But a personal loan could change all of that.
You can use a personal loan to consolidate all of your debt into one new loan with a new interest rate. Here are a few of the benefits:
- Could help streamline your repayment (no more juggling 10 accounts!)
- Might get a lower interest rate than you’re currently paying
- Could save more money with a rate discount if you sign up for automatic payments, depending on the lender
If you decide to take out a personal loan, be sure to consider as many lenders as possible to find the right loan for you. Credible makes this easy — you can compare your prequalified rates from our partner lenders in the table below in two minutes.
| Lender | Fixed rates | Loan amounts | Check rates |
|---|---|---|---|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 9.95% - 35.99% APR | $2,000 to $35,000** | |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 11.79% - 20.84% APR | $10,000 to $50,000 | |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 8.99% - 35.99% APR | $2,000 to $50,000 | |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 7.99% - 24.99% APR | $2,500 - $40,000 | |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 11.72% - 24.67% APR | $3,000 to $40,000 | |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 9.57% - 35.99% APR | $1,000 to $40,000 | |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 7.49% - 25.49% APR with autopay | $5,000 to $100,000 | |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 18.0% - 35.99% APR | $1,500 to $20,000 | |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 8.49% - 17.99% APR | $600 to $50,000 (depending on loan term) | |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 14.3% - 35.99% APR | $3,500 to $40,000 | |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 8.99% - 25.81% APR10 | $5,000 to $100,000 | |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 11.69% - 35.99% APR7 | $1,000 to $50,000 | |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 8.49% - 35.99% APR | $1,000 to $50,000 | |
|
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 6.4% - 35.99% APR4 | $1,000 to $50,0005 | |
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2. Earn extra interest with a high-yield savings account
With the national average interest rate on savings accounts at as measly 0.05% as of Dec. 2020, it’s unlikely your savings account is earning you much interest. But with a high-yield savings account, you could get a much higher rate of return — possibly up to 10 times the national average. This means extra cash in your pocket simply for saving money — ka-ching!
If you’re not sure where to start, here are a few options for high-yield savings accounts available from Credible’s partner lenders. Keep in mind that none of these accounts require you to maintain a monthly balance nor do they charge monthly maintenance fees.
3. Switch up your car insurance policy
If you own and drive a car in the U.S., you might be overpaying on your car insurance. But searching for a new provider can be time-consuming and overwhelming. That’s where insurance brokers come in.
Check out the table to see how much you can save through Credible’s partners, and start comparing quotes online for free. Customers who’ve used an auto insurance broker like Jerry have saved hundreds of dollars per year.
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| Perks of working with Jerry |
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4. Take control of credit card debt with a 0% balance transfer card
A balance transfer card could help you consolidate and pay off credit card debt without racking up interest charges along the way. This might just sound like another credit card, but hold up: If you move your balances to a balance transfer card with a 0% APR introductory period, you could avoid paying any interest if you’re able to repay your balance by the time this period ends.
Just keep in mind that if you don’t pay off your card in time, you could be stuck with hefty interest charges — meaning this method is likely better if you have a lower balance to start with.
Ready to find your balance transfer card?
Credible makes it easy to find the right card for you.
5. Slash your interest rate by refinancing your student loans
Student loan debt can be a major burden to carry. One way to pay off your loans more easily is through student loan refinancing, which combines your federal and private student loans into one new loan with a private student loan lender. You can also refinance only part of your debt if you’d prefer.
By refinancing your student loans, you might:
- Qualify for a much lower interest rate than what you currently have, which could reduce how much you pay over the life of the loan
- Extend your repayment term to dramatically lower your monthly payment and loosen up your monthly budget
Additionally, federal student loan interest and payments have been suspended during the pandemic by the CARES Act until May 1, 2022. Because of this, it might not be a good idea to refinance federal student loans right now. However, if you have private student loans, refinancing could help you take advantage of lower interest rates.
If you decide to refinance, be sure to shop around and compare as many lenders as possible to find the right loan for your needs. This is easy with Credible — you can compare your prequalified rates from our partner lenders in the table below in just two minutes.
| Lender | Fixed rates from (APR) | Variable rates from (APR) |
|---|---|---|
 | 4.9%+ | 5.33%+ |
 | 7.0%+1 | 7.29%+1 |
 | 6.99%+2 | 6.99%+2 |
 | 6.0%+5 | 8.05%+5 |
 | 5.48%+3 | 5.28%+3 |
 | 5.9%+4 | 8.4%+4 |
 | 5.24%+ | 5.52%+ |
 | 6.2%+ | N/A |
 | 5.79%+ | N/A |
| Compare personalized rates from multiple lenders without affecting your credit score. 100% free! |
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All APRs reflect autopay and loyalty discounts where available | 1Citizens Disclosures | 2College Ave Disclosures | 5EDvestinU Disclosures | 3 ELFI Disclosures | 4INvestEd Disclosures | 7ISL Education Lending Disclosures | 8Nelnet Bank Disclosures |
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About Rates and Terms: Rates for personal loans provided by lenders on the Credible platform range between 5.20%-35.99% APR with terms from 12 to 144 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 12%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of October 9, 2023, none of the personal loan lenders on our platform require a down payment nor do they charge any prepayment penalties.
