How are your New Year’s resolutions coming along? *crickets* Yeah, same. But hey, we’re not judging – in fact, we’re here to help! Did you know that on average, Metromile customers save $611 per year? If one of your resolutions this year was to save money (and honestly, when has that not been a resolution), then settle in and get cozy. We put together this list to show you all the things you can do with the money you save by switching to Metromile!
5 Things You Could Do With Your Metromile Savings
1. Deposit more into your 401k. Getting into some seriously sexy money talk right out of the gate. I like it. If your 401k hasn’t been getting the love it deserves, take that extra dough and up your monthly contributions. You won’t be missing the money (because it’s what you were already paying with your previous insurance company) and it will help your future, retired self! By contributing to your retirement fund at a young age, you will turn yourself into a millionaire by the time you retire at age 65.
2. Pay down debt. Sexy money talk, part II. Having debt is a totally normal thing, so there doesn’t need to be all this unnecessary shame surrounding it. Face your debt head-on and see which payments are the highest interest, and pay those off first. You’ll be amazed at how fast you can tackle your debt if you consistently, and even somewhat aggressively, put money towards it.
3. Create an “Experience Fund.” Okay, now that sexy money business is out of the way, we’re into the fun stuff. Instead of creating a vacation fund, try out an “experience fund” instead. Life is about creating experiences, beyond those knock-down-drag-out, five-star vacations. This includes weekend excursions, social events, and pretty much anything that you can come away with an epic story. The best conversations and stories with friends revolve around experiences, not just a bunch of stuff that looks pretty. Use the extra money you save by switching to Metromile and get experiencing!
4. Put a down payment on a new car. Or buy out your car lease (like I did!). Having an extra chunk of change means you can get ahead of certain things you’ve been putting off, like getting a new car. If it’s time for an upgrade, use that extra coin you’ve been saving from your Metromile switch and put it towards that car you’ve been dreaming of!
5. Invest it. It’s a myth that you need a ton of money to invest in the stock market. You can still make financially sound investments, even if you only have a couple hundred dollars kicking around. With apps like Acorns, you can take a small amount and gradually invest it, without having to do any upfront legwork. This means that you can literally be making money in your sleep – all by investing the money you’ve saved by switching to Metromile! Go you!
Now that you have all of these great ideas, you have no reason not to make the switch to Metromile! Up those 401k contributions, pay down your debt, or set up an experience fund – the choice is yours (+ all that extra money!). What will you do with the money you save by switching to Metromile? We’d love to know!
Julianne Cronin is a Bay Area freelance writer, content creator, and founder/editor of the women’s lifestyle site, The Wink. You can find her working on her capsule wardrobe, collecting cacti, and trying out the latest beauty products on Instagram