Refinancing with Earnest
Refinancing rates from 2.57% APR. Checking your rates won’t affect your credit score.
Who doesn’t enjoy a quick financial win? Even if you’re short on time, you can make small steps to improve your finances with these money moves, which can improve any situation in just 5 to 10 minutes. If you need some motivation to get your finances back on track, these money saving tips will help you make an impact right away.
1. Clean out your wallet regularly
When it comes to tips on saving money, start small. Grab your wallet or purse and spend a few minutes cleaning out the contents. Throw away any crumpled receipts, but be sure to look over old receipts before tossing them—you may need them to return an item or use for a mail-in rebate form. Keep a small amount of cash on you to avoid unnecessary ATM fees if you suddenly find yourself making a cash-only purchase. Evaluate the credit cards you regularly carry with you and ask yourself: Are the interest rates fair? Do you still need them all, or can some be canceled or left at home? Lastly, file away any important business cards and coupons, and stash away loose change in a safe place.
2. Double-check bills before paying them
We’re all guilty of being in a hurry or getting into a regular routine of paying the bills, but you should always double-check the transactions. Before paying your next set of household bills, do a quick inventory of each line item. Sometimes companies will add on extra fees or a purchase will get double posted to your account. Make a point to regularly check your bills before paying them so you’re not losing out on money that might be rightfully yours.
3. Unsubscribe from deal newsletters
Your email address is a very powerful tool, which is why retailers and deal sites are always trying to get you on their newsletter lists. Reserve your inbox for emails and newsletters that actually help improve your life, not tempt you to impulse buy. As you receive deal alerts, coupons, and limited-time offer emails, unsubscribe from the ones that no longer add value to your life. To get rid of physical junk mail too, sign up with Catalog Choice to stop all paper junk mail for good.
4. Question yourself before purchasing
One of the best money saving tips is also the simplest. Before hitting the “buy” button on your next purchase, pause for a few seconds and ask yourself these questions:
- Why am I really buying this?
- Do I already own a similar item?
- Is there a less expensive alternative?
- Can I live without this item altogether?
Taking a few seconds to pause before making each purchase will help you avoid impulse buys and keep more money in your bank account.
5. Write down your debts and interest rates
Rather than committing your debt balances and corresponding interest rates to memory, take a few minutes to write them all down in a notepad or detail them in a spreadsheet. How can you make progress on your debt goals if you don’t know the exact balances? Create a quick routine of staying updated on your account balances each month so you can prioritize as needed and pay off your debt faster.
6. Audit your monthly subscriptions
Here’s one of the most obvious saving money tips: Don’t buy what you no longer need. Are you still getting the most out of that $10 monthly subscription box? Do you still need to keep paying for the upgraded cable package? Spend a few moments taking inventory of all the monthly subscriptions and extras you’re paying for, and evaluate if you still use them. Cancel the ones you no longer want and pocket the savings!
7. Open a new savings account
It may sound a bit counterintuitive at first, but having multiple savings accounts can actually help you save more money towards your goals. Instead of having one multipurpose savings account, separate out your goals into individual savings accounts (for example, one for travel, one to save for a house, and one for emergencies). Start making regular deposits to save for the goals that are most important to you.
8. Check your credit report
When was the last time you checked your credit report? Is all of your information correct and up to date? Once every quarter, take a few minutes to check your credit report for free using a site like Credit Karma, or do a thorough review annually via Annual Credit Report. Make note of any changes and report any suspicious activity that you spot.
9. Automate your finances
With just a few minutes of work, you can automatically pay any recurring monthly bills and set up regular savings transfers towards your goals. Automating your finances will help you reduce the amount of time you spend managing your money each month, as well as making it less likely for you to miss a bill payment.
10. Refinance your student loans
Take advantage of one the most underutilized saving money tips and consider refinancing your student loans to potentially qualify for a lower interest rate. Spending some time researching this today could potentially save you money over the lifetime of your student loan. Use the calculator below to see how much you could save with a reduced interest rate.
Student Loan Refinancing Calculator
Trying these fast money saving tips could help prevent mistakes and get you on the path to improving your finances. You owe it to yourself to spend just a few minutes evaluating your situation, so use these small tips to save money and reach your goals.
Interested in refinancing student loans?Here are the top 6 lenders of 2018!
|Lender||Variable APR||Eligible Degrees|
|Check out the testimonials and our in-depth reviews!
1 Important Disclosures for Earnest.
To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest fixed rate loan rates range from 3.89% APR (with Auto Pay) to 7.89% APR (with Auto Pay). Variable rate loan rates range from 2.47% APR (with Auto Pay) to 6.97% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of Month/Day/Year, and are subject to change based on market conditions and borrower eligibility.
Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 08/21/18. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at firstname.lastname@example.org, or call 888-601-2801 for more information on ourstudent loan refinance product.
© 2018 Earnest LLC. All rights reserved. Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by or agencies of the United States of America.
2 Important Disclosures for Laurel Road.
Laurel Road Disclosures
APR stands for “Annual Percentage Rate.” Rates listed include a 0.25% EFT discount, for automatic payments made from a checking or savings account. Interest rates as of 11/8/2018. Rates subject to change.
Variable rate options consist of a range from 3.27% per year to 6.09% per year for a 5-year term, 4.64% per year to 6.14% per year for a 7-year term, 4.69% per year to 6.19% per year for a 10-year term, 4.94% per year to 6.44% per year for a 15-year term, or 5.19% per year to 6.69% per year for a 20-year term, with no origination fees. APR is subject to increase after consummation. The variable interest rate will change on the first day of every month (“Change Date”) if the Current Index changes. The variable interest rates are based on a Current Index, which is the 1-month London Interbank Offered Rate (LIBOR) (currency in US dollars), as published on The Wall Street Journal’s website. The variable interest rates and Annual Percentage Rate (APR) will increase or decrease when the 1-month LIBOR index changes. The variable interest rates are calculated by adding a margin ranging from 0.98% to 3.80% for the 5-year term loan, 2.35% to 3.85% for the 7-year term loan, 2.40% to 3.90% for the 10-year term loan, 2.65% to 4.15% for the 15-year term loan, and 2.90% to 4.40% for the 20-year term loan, respectively, to the 1-month LIBOR index published on the 25th day of each month immediately preceding each “Change Date,” as defined above, rounded to two decimal places, with no origination fees. If the 25th day of the month is not a business day or is a US federal holiday, the reference date will be the most recent date preceding the 25th day of the month that is a business day. The monthly payment for a sample $10,000 loan at a range of 3.27% per year to 6.09% per year for a 5-year term would be from $180.89 to $193.75. The monthly payment for a sample $10,000 loan at a range of 4.64% per year to 6.14% per year for a 7-year term would be from $139.65 to $146.76. The monthly payment for a sample $10,000 loan at a range of 4.69% per year to 6.19% per year for a 10-year term would be from $104.56 to $111.98. The monthly payment for a sample $10,000 loan at a range of 4.94% per year to 6.44% per year for a 15-year term would be from $78.77 to $86.78. The monthly payment for a sample $10,000 loan at a range of 5.19% per year to 6.69% per year for a 20-year term would be from $67.05 to $75.68.
However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the variable rate will decrease by 0.25%, and will increase back up to the regular variable interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.
3 Important Disclosures for SoFi.
4 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
5 Important Disclosures for CommonBond.
Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown.
All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 2.28% effective October 10, 2018.
6 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
|2.47% – 6.99%3||Undergrad & Graduate|
|2.57% – 6.97%1||Undergrad & Graduate|
|2.51% – 8.09%4||Undergrad & Graduate|
|3.02% – 6.44%2||Undergrad & Graduate|
|2.50% – 7.24%5||Undergrad & Graduate|
|2.79% – 8.39%6||Undergrad & Graduate|