Barclays is offering 100,000 miles on the Lufthansa Miles & More when you spend $3,000 and pay the annual fee within the first 90 days
Card Details
Annual fee of $89 (waived for Senator and HON Circle Members, as long as they maintain their Senator or HON Circle Member status)
Free annual companion ticket after annual fee is paid and on card anniversary
Card earns at the following rates:
2 miles per $1 spent on all miles & more integrate partners
1 mile per $1 spent on all other purchases
Free FICO score
No foreign transaction fees
Two Lufthansa Business Lounge vouchers annually (note despite the name Business is their lowest class of lounge, senator is higher and 1st is their highest class of lounge)
0% Introductory APR for 15 months
Our Verdict
Previous best was 80,000 points. This is an extra 20,000, surprised to see such a big jump. If you have a use of Lufthansa miles then this is definitely worth considering if not applying for, although I’d want to make sure I could use them ASAP to avoid any devaluation. We will add this to our list of the best credit cad bonuses. If you’re going to apply for this card then I’d also recommend reading our post on things you should know about Barclays before applying.
Capital One Spark Cash Plus is offering $1,200 bonus with $30,000 in spend
Card Details
$150 annual fee not waived
Card earns 2% cash back on all purchases
Earn an annual $200 cash bonus every year you spend $200,000 or more
Card earns cashback; if you have a different points-earning Capital One card (such as the Venture or Spark Miles), you’ll be able to transfer over the cash back into miles which could be more valuable
Our Verdict
Not as good as the previous bonus of $3,000 that required $50,000 in spend. Because of that we won’t add it to our best credit card bonuses.
Direct link to offer (check the offer details well to ensure the offer you see if the one you want to signup for)
Chase is offering an additional bonus on the Chase Freedom Flex and Chase Freedom Unlimited cards:
Get the standard $200 sign up bonus after $500 in spend; in addition, the card will earn 5% cashback on Grocery and Gas purchases in the first year, up to $12,000 in spend.
Card Details
Freedom Flex
No annual fee
Card earns the following points rates:
5% on rotating Quarterly Categories on up to $1,500 in total purchases (e.g. Q4 2020 will be PayPal and Walmart)
5% on Travel purchased through Chase Ultimate Rewards
3% on Dining
3% on Drugstore
5% on Lyft through March 2022
1% unlimited cash back
Freedom Unlimited
No annual fee
Card earns 1.5% cash back on all purchases
Our Verdict
We’ve seen this offer for either Gas or Groceries, sometimes with a lower $6,000 spend limit. This time it’s for both Gas & Groceries, and it comes with a $12,000 combined limit. Just double check that you see this precise offer as there are other versions floating around.
Hopefully this offer will be available via referral links as well. That will get your friend a bonus along the way.
This offer also coincides well with the Chase Freedom Flex 5% quarterly category which includes Gas this quarter. I believe you’ll get 8.5x total when combining the signup offer and after activating the quarterly category.
Keep in mind while these cards talk about cash back you actually earn Chase Ultimate Rewards points. This means if you have an annual fee card such as Chase Sapphire Preferred, Chase Sapphire Reserve, Chase Ink Plus or Chase Ink Preferred then you can transfer these points to travel partners. You could also use these points for the Chase Pay Yourself back feature to make them worth 1.25¢ each.
Unfortunately a lot of readers won’t be eligible for these cards/bonus due to the Chase 5/24 rule. We will still be adding this to our list of the best credit card bonuses.
Citi is offering 100,000 miles after spending $10,000 within three months on the AAdvantage Executive card.
Card Details
$595 annual fee
$175 authorized user fee for the first three authorized users and a $175 fee for each authorized user thereafter
Annual credits:
Up to $120 back on eligible Avis® or Budget car rentals every calendar year. Up to $120 back on eligible Grubhub purchases (up to $10 statement credit on each monthly billing statement). Up to $120 in Lyft credits ($10 credit each month after taking three eligible rides)
Admiral club access (includes authorized users)
Card earns at the following rates:
4X AAdvantage miles on eligible American Airlines purchases. After spending $150,000 in a calendar year, cardmembers can earn a total of 5X AAdvantage miles on eligible American Airlines purchases for the remainder of the calendar year.
10X AAdvantage miles on eligible car rentals booked through aa.com/cars and eligible hotels booked through aa.com/hotels.
1X on all other purchases
Loyalty point bonuses:
Loyalty point bonuses:
A 10,000 Loyalty Point bonus after reaching 50,000 Loyalty Points in a status qualification year.
An additional 10,000 Loyalty Point bonus after reaching 90,000 Loyalty Points in the same status qualification year
No foreign purchase fees
Enhanced Airport Experience
First Checked Bag Free
$100 Credit For Global Entry/TSA PreCheck
48 month rule does apply
Our Verdict
Citi recently made some major changes to this card including the annual fee increase and authorized fee increased along with some additional credits. I don’t think this card is worth holding long term, but if you can use the benefits and miles then this is a good bonus on this card and I don’t see it going higher in the future. We will add it to the best credit card bonuses.
Update 8/19/22: Back as a targeted banner offer (ht Vanson)
Update 6/16/22: Offer has expired
The Offer
Direct Link to offer (shows up in incognito mode and via referrals for some)
American Express is offering a sign up bonus of 100,000 points after $4,000 on the Gold card
Card Details
Our Verdict
Previous best was 90,000 points + 20% back on restaurants up to $250. That offer was better if you could do the restaurant spend but some might prefer the simplicity of this offer if they can’t easily do that spend. We will add this to our list of the best credit card bonuses.
Capital One Venture card is offering 100,000 points after $5,000 in spend within the first 3 months
Card Details
$95 annual fee; fee is not waived the first year
Card earns 2x points everywhere (the equivalent of 2% everywhere)
Card earns 5x points on hotels and rental cars booked through Capital One Travel
Card earns 5x points per dollar on Turo car rentals through 5/16/23
No foreign transaction fees
Visa Signature benefits
Receive up to a $100 credit for Global Entry or TSA PreCheck
Our Verdict
Same offer as the recent deal, but doesn’t seem to be linked from a kiosk from what I can see. Previous best offer required $10,000 in spend. Because this has a lower minimum spend requirement/no kiosk requirement we will add this to the best credit card bonuses.
Open a BMO Harris Premier™ Account online and get a $500 cash bonus when you have a total of at least $7,500 in qualifying direct deposits within the first 90 days of account opening. Expires 9/15. Conditions Apply.
I completely understand why some people are afraid to use credit cards. I was. It seemed like a surefire way to get into credit card debt seemingly overnight. But between rewards credit cards and sign-up bonuses, I realized credit cards can be used for good — a lot of good.
Credit card sign-up bonuses can offer you an extra few hundred dollars or even a free plane ticket just for spending the way you normally would. The sign-up bonuses I’ve received from credit cards have paid for a camping vacation, a concert, and a few train tickets for a weekend getaway.
Big or small, you can likely find a sign-up bonus that works for your spending habits. But are they worth it? To figure that out, you need to know how they work and how to evaluate them.
How Credit Card Bonuses Work
Credit card bonuses are perks credit card companies offer to win your business. Bonuses typically involve the credit card company offering extra cash, points, or miles when you sign up, though you usually have to do something first, such as spend a certain amount.
The cash price of the reward depends on the card you choose. Some sign-up bonuses are worth a few hundred dollars, while others are valued at $700 or more. You typically find that the higher the spending requirement, the higher the reward.
Types of Credit Card Bonuses
Credit card bonuses all look slightly different and have different requirements. While credit card issuers can technically make anything they can legally give you a bonus, there are some common types.
Cash-back bonuses. Cash-back bonuses are pretty straightforward. You spend a specific amount during a specified time and get some form of cash back, such as a statement credit, check, or redemption for products or experiences. Cash-back bonuses tend to be smaller than other bonuses. For example, you might see a $200 bonus when you spend $500 in the first three months.
Travel rewards bonuses. Some travel rewards cards offer travel bonuses if you spend a certain amount in a certain time frame, such as 75,000 bonus miles after you spend $4,000 on purchases within the first three months.
Points bonuses. Points are essentially another form of cash back. Once you reach certain point thresholds, you can cash those points in for statement credits, travel purchases, or another option your credit card issuer offers. For example, you might see cards that offer 75,000 or even 100,000 points after you spend $2,000.
Referral bonuses. Some credit card companies offer a small bonus when you refer someone who applies for a card. For example, a card may offer you a $200 statement credit if you get one of your friends to apply for the same card within the first 60 days.
How to Evaluate Credit Card Bonuses
When trying to pick the right bonus, there are a lot of factors outside the cash you earn. It’s vital to compare the bonus in the context of the card’s full value potential to decide whether the credit card bonus is worth it to you.
Bonus Value
When searching for the right bonus, think about what you’ll use it for. Perhaps you’re planning for an upcoming family vacation or you want to take a weekend trip with your friends. A 75,000-point bonus can get one of you a free flight. Or if you’re saving up for a big purchase like a new flat-screen TV or couch, a cash bonus of $200 can help offset the price.
Annual Fee
Annual fees have a huge range, from $0 to almost $1,000. The higher the annual fee, the nicer the reward. But there’s no use in earning a bonus if the continued annual fee is too much. A 150,000-point travel bonus sounds sweet, but the next year when you face a $650 annual fee, it might not seem so worth it.
Consider how much you’re willing to pay on an ongoing basis, not just the first year. If you’re willing to switch cards next year and can do so without negatively impacting your credit score, go for it. But if you’re looking for a long-term relationship, make sure you can afford it.
Rewards
Ensure the rewards you earn outweigh the annual fee. You want the rewards you earn now, including the bonus, to be more than the annual fee, to be sure.
But in future years, will you use the card enough to continually justify the fee? If not, you’re just paying to keep a credit card in your wallet.
Additionally, think about how the rewards offered can help you reach the bonus. Pick a card that encourages you to spend in your regular areas, which helps you rack up enough in purchases to earn the bonus.
Similarly, be wary of a card with rewards that conflict with your go-to card for that spending category. If you already get excellent gas rewards, is it worth switching to another card for those?
Spending Requirement
Ensure you can spend enough to earn the reward bonus. You can find spending requirements that are fairly low at a few hundred dollars, but some require you to spend thousands.
Look at your budget and think realistically about how much you spend regularly. A credit card shouldn’t increase your spending; it should simply reward you for spending in the right areas.
Even if you already have a rewards card you use for certain purchases, it still might be worth it to sign up for another one that’s currently offering a bonus, even if the rewards you earn are slightly less.
Do the math to see how what you earn in rewards each month from your original card compares to the bonus you would earn combined with the additional rewards you earn on the new card. You can use the card just for a few months to earn the bonus and switch back to your old card after.
But that’s not the only way to meet spending requirements. You can put streaming services on your card. Some credit cards even offer cash back on these recurring subscriptions. Or put a big purchase you’ve been planning on the card or add a trustworthy authorized user to get two people spending on the card for a few months.
Other Card Benefits
Many credit cards have perks and features beyond rewards and sign-up bonuses. These features offer benefits you may not even realize you need.
For example, if you travel overseas frequently, check to see if the card you’re interested in has a foreign transaction fee. Most of these fees hover around 3%, so it can add up if you use your card a lot while traveling. If you can find a card without one, you can save hundreds or even thousands per trip.
But that’s not all. Look for features like low balance-transfer rates or special security features. Do you want the ability to lock and unlock your card at will? Do you want extra verification steps when you make online purchases? Some issuers offer these features, while others don’t, so make sure you’re reading the fine print.
Your Spending Habits
Your spending habits play an outsize role in choosing the sign-up bonus that’s right for you.
If you have a large family and can put your everyday spending on the card, even temporarily, you likely have enough expenses to reach a higher spending requirement. For those with tighter budgets, sticking with a smaller sign-up bonus makes more sense because they also come with lower spending thresholds.
Bonus cards are also perfect for large purchases. For example, if you’re thinking of buying a new couch, a sign-up bonus card that offers $200 back for just $500 in spending is the perfect choice. If you buy a $700 couch, you’re essentially getting a $200 rebate just for putting the purchase on the right card.
Other Factors to Consider
Even if you evaluate the bonus and decide it’s worth it, you need to check out the terms and conditions to ensure they won’t impede your progress toward the spending goal. While they can vary by issuer, there are a few that exist on almost every card.
Only New Cardholders Are Eligible
One of the biggest catches of sign-up bonuses is that they exist to attract new customers, not keep existing customers happy. That’s outstanding for anyone looking to add a new card to their wallet, but those who already have that card need to look elsewhere for a sign-up bonus.
Your Time Already Started
The time you have to reach your spending requirement starts the day you receive approval, not the day you get the card. You usually get your card in the mail within a few days to weeks, depending on where you live.
That shortens the already brief few months you have to meet the spending requirement. That said, some cards allow you to activate a virtual version of your card before it arrives.
Some Transactions Don’t Count
Spending requirements for bonuses can get tricky. Larger bonuses tend to have stricter requirements or limits on what purchases count toward your spending minimum. Check the fine print to see the exact requirements for your card.
For example, the fine print might say balance transfers and lottery tickets don’t count toward your spending requirement.
The Bonus Value May Depend on How You Redeem It
More complex bonuses may offer a greater value if you redeem the bonus for something other than cash or have specific rules for how you can use the bonus.
For example, you might earn 75,000 travel points worth $750. That’s more than the $500 they’d give you if you took your bonus as statement credits (which is essentially cash). But you can only use it if you spend it on purchases through your credit card’s travel portal.
If you can’t or won’t do that, you need to take the cash bonus, meaning that’s what you should base the credit card bonus evaluation on.
The Bonus Might Expire
Certain credit card bonuses expire if you don’t use them in time. That mostly applies to points or miles. And many cards already have rules about the expiration of points or miles, which apply to your bonus too. Check the bonus offer’s fine print to see if there’s a time limit on your rewards.
Are Credit Card Bonuses Worth It?
Plenty of people sign up for bonuses, so that must mean they’re worth it, right? Not always.
If you can meet the spending requirements without overspending, love most other things about the card, and need a new credit card, then yes, earning a bonus is a sweet deal.
But if you’re likely to struggle to spend hundreds or thousands just to earn a small bonus, it’s probably not the right time for you to get a new card, rewards be damned. Or if getting a new credit card entices you to spend more than you need, the bonus won’t offset the interest.
Don’t be enticed by a sign-up bonus you see on a flashy offer you get in the mail. Always consider your motives outside the bonus, no matter how good it sounds. Remember, credit card companies don’t offer these bonuses out of the goodness of their hearts. There’s something in it for them too.
Final Word
Credit card bonuses are an added benefit to strong rewards credit cards. They come in all sizes, and all have specific requirements you must meet to be eligible for the bonus. Still, when thinking about your next credit card, the sign-up bonus should be closer to the bottom of your list of incentives.
Focus instead on what you really need. That might be a balance-transfer credit card that offers a 0% interest rate to help you finally pay off your debt. Or if you’re looking to rebuild credit, a secured credit card is a better idea.
But if the card you want has a sign-up bonus that isn’t too hard for you to earn, don’t leave money on the table.
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Christopher Murray is a professional personal finance and sustainability writer who enjoys writing about everything from budgeting to unique investing options like SRI and cryptocurrency. He also focuses on how sustainability is the best savings tool around. You can find his work on sites like Bankrate, Money Crashers, FinanceBuzz, Investor Junkie, and Time.
Barclays is offering up to 50,000 miles on the Frontier card after spending $1,000 on purchases within the first 90 days
Card Details
$89 annual fee waived first year
Card earns at the following rates:
5x at flyfrontier.com
3x on restaurant purchases
1x on all other purchases
Earn 1 qualifying mile for every $1 spent
Family pooling
$100 flight voucher after you spend $2,500 or more on purchases during your card member year
Our Verdict
Previous best offer was 60,000 miles but the annual fee wasn’t waived. The issue with Barclays cards is getting approved. With huge bonuses on the American Airlines, Wyndham and Hawaiian it might be worth focusing on those offers. You can read these things everybody should know about Barclays cards by clicking here. We will add this new offer to our best credit card bonuses.
New Mexico’s rich, fascinating history makes it popular with both visitors and new residents. Whether you work for the federal government or one of the state’s many small businesses, banking services are an essential part of life. That’s why we’ve pulled together a list of the best banks in New Mexico to help you find the right bank to fit your needs.
10 Best Banks in New Mexico
From online and mobile banking to traditional banks with branches across the country, there’s a bit of everything in New Mexico. It’s important to take a look at the closest bank branch to your house, but you should also pay attention to which banks charge monthly maintenance fees to make sure you’re getting the best deal. The below list can help you kick off your search for the best bank.
1. U.S. Bank
With its vast array of branches and ATMs, U.S. Bank is a major player in the banking sector of the state.
Of particular interest to residents of New Mexico is the Bank Smartly® Checking account. This account provides the opportunity to gain up to $300, provided certain criteria are met. Specifically, within a span of 90 days from creating your new Bank Smartly® Checking account online, you are required to:
Successfully process two or more direct deposits that cumulatively total $6,000 or more
Sign up for either online banking or the U.S. Bank Mobile App
This promotional offer, valid until July 11, 2023, comes with particular terms and conditions. U.S. Bank is an FDIC member.
In addition to these enticing offers, U.S. Bank provides a broad spectrum of financial services, which include checking and savings accounts, loans, investments, and more. These services can be easily accessed through their user-friendly online and mobile banking platforms.
Fees:
$6.95 monthly service fee (waived with direct deposits or balance minimums)
No-fee overdraft protection transfers from a linked deposit account
Balance requirements:
$25 opening deposit
$1,500 minimum daily balance or $1,000 in direct deposits to waive service fee
ATMs:
Fee-free at U.S. Bank, MoneyPass, and Cardtronics locations nationwide
$2.50 charge per transaction at out-of-network ATMs
Interest on balance:
Up to 4.50% APY on money market accounts
Up to 4.75% APY on CDs
Additional perks:
Extensive mobile banking features
Money management tools available
2. New Mexico Bank & Trust
New Mexico Bank & Trust is a traditional bank with locations across New Mexico. This free checking account has no minimum balance, but if you frequently access cash, you’ll want to consider upgrading to a New Mexico Bank & Trust higher-tier account.
With direct deposit, both the Platinum and Signature Series checking accounts refund up to $20 in non-New Mexico Bank & Trust ATM fees each month. Currently, you can earn a $300 bonus on a new free checking account as long as you receive at least two monthly $300 direct deposits.
Fees:
No monthly service fees
$35 overdraft fee
Balance requirements:
$25 minimum deposit to open
No minimum daily balance requirements
ATMs:
Fee-free at New Mexico Bank & Trust ATMs
No out-of-network ATM fees
Interest on balance:
Up to 1.25% APY on savings account
Up to 4.75% APY on CDs
0.10% APY on money market savings account
Additional perks:
Up to $600 bonus with new checking account
New Mexico Bank & Trust cash-back rewards credit card comes with no annual fee
3. Chime
If online banking is how you get banking services, Chime is worth considering. The basic checking account is fee-free and includes all the features you need. Although Chime doesn’t feature the in-person service you get with brick-and-mortar banks, you can withdraw cash for free at more than 60,000 ATMs nationwide.
Fees:
No monthly maintenance fees
$15 overdraft fee
Balance requirements:
No minimum deposit to open
No minimum daily balance required
ATMs:
Fee-free at 60,000 ATMs nationwide
$2.50 for each out-of-network ATM transaction
Interest on balance:
2.00% APY on savings accounts
Additional perks:
Secured credit card helps you build credit with no credit check required
SpotMe covers up to $200 in overdrafts
4. Bank of Albuquerque
If you live in Albuquerque, the Bank of Albuquerque has bank branches throughout the area. You’ll find a fee-free checking account with nationwide access to cash at more than 32,000 locations in the MoneyPass ATM network.
One standout feature of this traditional bank is its youth account. Designed for those under the age of 18, this account features a Visa debit card, online and mobile banking tools (for ages 13+ only), and a savings account that pays 0.25% APY.
Fees:
No monthly maintenance fees
$34.50 overdraft fee
Balance requirements:
$50 minimum deposit to open
No minimum balance requirements
ATMs:
Fee-free at Bank of Albuquerque ATMs
Fee-free at 32,000+ MoneyPass locations nationwide
$2 fee for each out-of-network ATM transaction
Interest on balance:
Up to 0.20% APY on savings account
Up to 4.85% APY on CDs
Up to 1.50% APY on money market accounts
Additional perks:
Same-day credit for deposits at any Bank of Albuquerque ATM
Wealth management services available
5. GO2bank
Another online bank available to New Mexico residents is GO2bank. For those who regularly deal with cash, GO2bank is a great option. You can not only withdraw money at any Allpoint ATM, but you can deposit cash at more than 90,000 retailers nationwide. GO2bank will waive monthly fees on your checking account as long as you set up a qualifying direct deposit.
Fees:
$5 monthly fee (waived with requirements)
$15 overdraft fee
Balance requirements:
No minimum deposit to open
No minimum balance required
ATMs:
Fee-free at Allpoint ATMs nationwide
$3 fee for each out-of-network ATM withdrawal
Interest on balance:
4.50% APY on savings accounts
Additional perks:
Deposit cash at 90,000+ partner retailers nationwide
Up to 7% cash back on gift card purchases
6. WaFd
If you’re looking for the expanded services of a national bank with the personal touch of a local bank, Washington Federal Bank is worth considering. With bank branches across New Mexico, WaFd Bank makes an effort to connect with each community it serves. But if you’re in the market for a new CD, WaFd is currently offering up to 5.00% APY on 3-month CDs and up to 4.45% APY on 7-month CDs.
Fees:
No monthly service charges
$30 overdraft fee
Balance requirements:
$25 minimum opening deposit
No minimum balance required
ATMs:
Fee-free at WaFd Bank ATMs
Fee-free at 40,000+ MoneyPass ATMs nationwide
Interest on balance:
0.10% APY on savings accounts
Up to 5.00% APY on CDs
Up to 2.00% APY on money market accounts
Additional perks:
Three debit card style options available
Budgeting tools available in mobile banking app
7. Wells Fargo
With bank branches in 33 states and the District of Columbia, Wells Fargo is a national bank with plenty to offer. Currently, you can open a free checking account as long as you maintain a $500 daily balance, receive at least $500 in direct deposits each month, are 17-24 years old, or have a Wells Fargo campus ATM card linked to your checking account.
New checking customers can earn $300 by receiving at least $1,000 in qualifying deposits in the first 90 days.
Fees:
$10 monthly fee (waived with requirements)
$35 overdraft fee
Balance requirements:
$25 minimum opening deposit
No minimum balance required
ATMs:
Fee-free at Wells Fargo ATMs nationwide
$2.50 out-of-network ATM fee
Interest on balance:
Up to 2.51% APY on savings accounts
Up to 4.51% APY on CDs
Additional perks:
$300 bonus on new checking accounts
Robust mobile banking services
8. Century Bank
If you prefer banks in New Mexico with a long history in the state, consider Century Bank. The bank has served New Mexico since 1887. Century Bank has a wealth of financial products, including personal loans, business accounts, and retirement savings options. Currently, Century Bank is offering higher-than average rates on CDs, including 7-month CDs that earn interest at a rate of 5.00% APY.
Fees:
No monthly fees
Balance requirements:
$25 opening deposit
No minimum balance required
ATMs:
Fee-free at Century Bank ATMs
Fee-free at MoneyPass ATMs nationwide
$2 fee for each out-of-network ATM withdrawal
Interest on balance:
Up to 0.03% APY on savings accounts
Up to 5.00% APY on CDs
Up to 3.50% APY on money market accounts
Additional perks:
Multiple account options for small businesses
Great rates on personal and auto loans
9. Bank of America
One of the best traditional banks is Bank of America, which has branches throughout New Mexico. What sets Bank of America apart from other banks is its top-rated mobile banking options. You’ll get features like budgeting tools, debit card lock/unlock, and custom alerts. Frequent travelers appreciate Bank of America’s nationwide network of branches and ATMs.
Fees:
$12 monthly service fee (waived with requirements)
$10 overdraft fee
Balance requirements:
$100 minimum opening deposit
No minimum balance required
ATMs:
Fee-free at 15,000+ Bank of America ATMs nationwide
$5 out-of-network ATM fee
Interest on balance:
Up to 0.04% APY on savings accounts
Up to 4.75% APY on CDs
Additional perks:
Generous credit card bonuses and rewards
Wealth management services available
10. Nusenda Credit Union
Credit unions offer benefits like low interest rates on loans and high interest rates on savings accounts. With Nusenda Credit Union, you can not only get service at a bank branch bearing the credit union’s name, but at credit unions across the country that are part of the Co-Op Network. This network also includes more than 30,000 ATMs nationwide.
Fees:
$5 monthly service fee (waived with requirements)
$29 overdraft fee
ATMs:
Fee-free at Nusenda Credit Union ATMs
Fee-free at 30,000+ Co-Op ATMs nationwide
Interest on balance:
Up to 4.50% APY on CDs
Additional perks:
More flexible membership requirements than other credit unions
Competitive rates on loans
How We Picked: Methodology
It can be tough to choose the best bank in New Mexico since needs vary from one person to the next. That’s why we made every attempt to choose a variety of banks, from online banking providers to local banks and credit unions.
We also looked at the banking products each bank offers to make sure you’re getting the best variety. Here are a few criteria we considered when putting together this list of banks.
Interest Rates
A bank keeps your money safe, but it’s also a way to build on what you already have. If you’re going to save money, why not earn a little interest on that balance?
In building the above list, we looked at which savings account paid the most, finding that often the best bank for that was an online-only bank. We also looked at which bank offers the best rates on CD accounts and found many local banks had the best deal on those.
We also paid attention to the interest rates that banks charge on loans and credit cards. Smaller financial institutions like credit unions often compete with large banks by offering reduced rates on these products as an account holder perk.
Large Branch Network
You might never need in-person help with your account, but when you do, it’s important to be able to find a branch. You don’t need a large bank to get a national network of branches, though. Many online banks and credit unions are part of a partner agreement that offers branches across the country, both in major cities and more rural areas.
Large ATM Network
While you’re looking into coverage areas, withdrawing money should also be a priority. Make sure your bank has an ATM network that will cover you even when you’re away from home. Online or mobile banking can take care of services like online bill pay and mobile check deposit, but mobile services can’t handle banking transactions like cash deposits and withdrawals.
New Mexico residents have no shortage of banking options, from big banks to small community banks. Whether your priority is to earn interest on your balance or enjoy low fees on your checking account, you can easily find a bank that fits your needs.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
The ripple effect of a financial mindset can be seen in every aspect of your life.
Think about it: If you are not mindful of how you spend and save money, then you will be in a constant struggle each and every month.
If you are simply someone who is struggling to make ends meet, there are many things we can do to save money. If you are trying desperately to reach financial freedom sooner, then you need these best money hacks to make it happen sooner.
Around here at Money Bliss, we spend a lot of time on our money mindset and setting goals.
Everyone is in a different season with their finances.
But, one thing is true… Most of us never learned proper money management.
Do you find yourself in a constant cycle of financial struggle? Do you feel like you are constantly trying to live up to unrealistic standards?
It is easy for people to feel that they are constantly broke, and in some cases this is true. But, it is also important to remember that there are ways in which you can make more money and start saving for your future.
Since changing money habits does not always come easy and often requires some serious changes in our mindset, we are here to support you to find the top money hacks.
Read on as we share 50+ ways you can start saving more money as well as making more money while also saving your sanity!
What are Money Hacks?
Money hacks are the ways in which people stretch their money.
These money hacks can come from a variety of sources, such as personal experience, family members or friends, and other individuals on social media.
Money hacks can come in many forms such as:
Simple money saving hacks
Ways to make money on the side
Strategies to make every dollar count
Thrifty ideas to be more frugal
Ideas to be more conscious of our waste
All in all, money hacks will help you to spend less money. Thus, saving more money.
As you will learn at Money Bliss, saving money opens up doors of opportunities
Best Money Hacks
Money hacks are ways to build long-term wealth.
Even though most of the hacks for money include quick saving wins, over the long term, you will actually start a snowball effect of more money in your bank account.
Sometimes, it can be difficult to find the motivation to save money, but these 7 best real money hacks will help you reset your financial mindset and start saving!
The best money hacks are the overarching big picture concepts that you must master for long-term success.
1. Think Big
Open up your mind.
One way to reset your financial mindset is by opening yourself up to new ways of thinking about spending and saving.
Too often, we are focused on what is directly in front of us instead of thinking about the big picture.
A great way to think big with your finances is to decide how you want to live life with intention.
2. Habit of Saving Money
Get back in the habit of saving.
If you have been beyond your means or barely scraping by, the best way to get back on track is by saving at least 20% of your income.
This may seem a little ludicrous. However, by prioritizing saving first, you will be pleasantly surprised how well you live off the rest.
In this post, there will be so many simple and easy ways to start saving today.
3. Make a Plan for Your Money
Create a spending plan (aka that dreaded word budget).
Creating an outline for what you want and need will help you to make smarter decisions about your spending.
This concept has been made too difficult over the years.
The bottom line is you want to spend less than you make. So, make a plan for that to happen today.
4. Make Money on the Side
This one is huge!
Personally, making extra money has been a priority for the last 5 years. We spent many years trying to cut our expenses and hating our inability to actually spend less as a growing family. So, we changed our focus to finding ways to make more money instead.
Start a side hustle. If you are not making enough to live comfortably, start a side hustle! Use your unique skill set to make extra cash.
Pick up a second job or ask for more hours.
There are plenty of ways to make money fast.
5. Invest in Stock Market
This means a way to make money or increase your net worth. AKA make your money work for you.
Too many times, the concept of investing is big and scary. The thought of starting is way too overwhelming. So you put it off until next week or next month. Then, a couple of years go by and you have not invested your money.
That is the biggest financial mistake you can make.
Start small by investing in an index fund. Each month consistently add more money.
If you want to learn to trade stocks, then you must enroll in the best investing course I have found.
Read my in-depth investing course review.
6. Pay Off Debt
Ugh… debt is the cash flow killer.
You are unable to make forward progress if you are straddled by debt.
Figure out how to pay off debt ASAP.
When calculating how long it will take to pay off high-interest debt, you should consider paying the highest interest rate first. Here is the best debt payoff app available.
7. Watch Your Spending
Be mindful of your spending.
This is a great practice that many people need to start doing again, regardless of how much money or how little money they have.
Every few months, you need to evaluate your spending to see if it matches up with your values.
As you can imagine there are many money hacks that can help you save, but the list above is the money hacks that will make the biggest difference the quickest. Below we have many more money hacks for you to explore.
Hacks for Saving Money
Money app hacks are small, quick, and easy ways to improve your finances.
They can range from things like automating your budget or creating a money jar that pays for itself, to more complex solutions like changing your tax withholding or moving money around to get a higher return.
Honestly, there are so many life hacks for saving money.
8. Automatic Savings
This is a practice of automatically transferring money from your checking account into your savings account on a regular basis.
It is best to set a transfer amount and stick to it.
Since it is easier to save your money before you spend it, you must save as much money as possible in order for this strategy to be effective.
9. Financial goals
A financial goal is a long-term, quantifiable expectation for how much money you want to have, or what you plan on doing with your money. Your goals can be as simple as saving for the down payment on a house or as involved as saving for retirement.
Our financial goals allow us to set specific, numerical targets that help us achieve our desired lifestyle in a more concrete way.
You must set smart financial goals.
10. What brings you joy?
At the end of the day, it is important to remember that life is all about finding what brings you joy.
The question is open-ended, but your money must line up with what brings you joy.
Spend a few minutes and stew on the question.
11. Build an emergency savings fund
Building an emergency savings fund is a great idea if you are in the habit of saving money and want to make sure that you have some money saved up when times get rough.
If you are struggling to save, there are a few ways you can increase your savings.
For example, you might be able to set up automatic transfers from your checking account into an investment account. You should also make sure that you have a way to save money outside of your checking account.
Saving cash in a jar or saving up coins are ideas for some people.
12. Invest spare change
If you go shopping and buy something, most stores will give you change. If you use a debit or credit card, you can do the same thing with help of a popular app!
Simple money hack: investing your spare change.
In order to invest your spare change in an account, you can open one for as little as $5. Acorns then automatically invest the money from your checking account and into a savings acorn account.
As the round-up feature continues to add upon each purchase, it is a good idea to invest in this app so that you can save more dollars!
13. Challenge Yourself to Save
If you are looking to save money, it is best to set up a budget that includes challenging yourself.
A great way to do this is with the no spend challenge.
A no-buy is when you decide to simply not make any purchases for a certain amount of time.
A no-spend is when someone decides to not spend any money in a certain period of time.
When you are struggling with spending too much money and want to reset your wallet, then give up spending money. Period.
14. Join a buy nothing group
The buy nothing groups are a growing movement that started in order to help people cut their ecological footprint, save money, and break free of consumerism.
This is a great way to find things you need as well as declutter your house.
15. Negotiate everything
The key to successful negotiation is preparation.
Research the company’s past sales, price changes, and discounts offered in order to get a better understanding of what you’re negotiating for.
Don’t be afraid to negotiate.
What is the worst thing that can happen when someone says no!?!
16. Refinance Your Mortgage
It is never too late to refinance your mortgage.
In fact, it might be a good idea if you’re in the market for a new home or refinancing your loan on an existing property.
You must weigh the costs of refinancing to how much you will save over the time period of the loan.
Ask around for mortgage broker recommendations and get at least two quotes.
17. Downsize your Home
Downsize your home is the term for reducing a residence in size. This can be done by either moving to an apartment or buying a smaller house. There are many benefits of downsizing, including living a more affordable lifestyle and having less upkeep.
Downsizers use their homes as investments and save money on rent or mortgage payments.
18. Cut the cord
With the internet becoming accessible to everyone, people have started cutting their cable and watching shows online. People can save up to $500 a year by cutting cable from their bills.
Cut the cable & stop watching TV!
19. Learn about Finances
Ask for help.
If you are struggling, there is no shame in asking for assistance from your friends or family members.
The goal is to get ahead with money and not keep digging further into a hole.
Check out any of our courses to help you.
20. Save for What You Want
Decide what you want most and work towards it with the money you have now, instead of waiting for a windfall or a large inheritance.
This may mean setting aside $200 a month.
For example, as a reminder of your long-term goal of buying a beach property, you may buy something you would hang in the new place. Every time you see it, you will be reminded of what you are saving towards.
Budget Hacks
Financial hacks are not unusual.
Since it is so easy to overspend, you must know a few budgeting hacks ahead of time.
21. Need vs Want
A want is a desire for something, while a need is something that fulfills the requirement of your body like food or shelter.
When you think about buying something, ask yourself if it is a want or a need.
By uncovering needs vs wants, you are quickly able to find ways to spend less and save more.
22. Avoid Temptation
To avoid temptation, it is important to maintain a healthy amount of physical and emotional distance from the things that tempt you.
Sometimes, spending triggers are easy to avoid but other times they’re not.
However, people should always be aware of their temptations and try to stay away from them because it will lead to unnecessary debt or stress in the long run.
23. Practice the 30-day rule
Many people wonder what’s the 30 day rule with money…
The 30-day rule is the principle that states that you should practice a new habit or stop an old habit for at least thirty days before expecting success.
When it comes to your money, it means to wait thirty days before making big purchases or changes.
24. Keep a Budget Binder
A budget binder is an important tool that helps people keep track of their finances.
The binder can help people plan out their finances by providing a place to record expenses and income.
Keeping a budget binder is an effective way to track your spending and keep yourself accountable.
By keeping it, you can easily plan for future expenses in advance as well as see what money could be saved or spent on different items over time.
25. Get a spend tracker and use it regularly
Track your spending for 30 days. It can be a good idea to track your spending for at least a month to get an idea of what you’re spending and where.
A spending tracker is a tool that helps people keep track of how much they are spending on a certain item. It is important to use this tool regularly in order to be able to see patterns in your spending.
Then, review your spending. Share it with a trusted friend or family member to come up with some goals to reduce expenses in order to save money.
26. Create a budget
Create a budget, and follow it.
When you schedule your spending, make sure to leave room for savings. This is the easiest way to ensure that you can stick to your budget.
Find more budgeting resources on our site.
27. Pay Bills on Time
This should be a simple statement that we all know. However, life can throw curveballs.
Try to pay your bills on time and in full every month, and make sure all of your bills are paid each month.
This will show lenders that you are responsible and that you are taking care of your credit. Plus you don’t rack up those pesky late fees and high interest rates.
28. Avoid Missed Payments
Don’t miss any payments, and pay off your balances each month to avoid paying high interest rates or fees on late or missed payments.
Read again… do not miss paying your bills.
29. Reconcile Your Checking Account
Balance your checkbook monthly. Okay, no one really uses a checkbook anymore, but you can still do this with pen and paper.
Even better, use Quicken as a simple way to balance your checking account. Read my Quicken review.
This is a great way to check for being charged too much or find a subscription you don’t use anymore.
30. Avoid Summer Budget Busters
Avoid spending money for the summer by just being conscious of your spending and reviewing what is different than the norm.
It is too easy to get into the trap of spending money because the weather is warm.
31. Review your Credit Card Statements
If you’re like most people, you probably review your credit card statements once every six months.
What’s the best way to go about reviewing them?
It depends on how often you use your credit card, how much debt you have, and what your credit score is. You should review your statements at least once a year if you’re carrying a balance on your credit cards.
If you use your credit card, then you should review your statements at least monthly.
32. Use the Cents Plan Formula
While the 50/30/20 budgeting rule is popular, our method of budgeting your money will be more helpful.
Learn how to divide your income into various categories.
Check out the Cents Plan Formula.
33. Use Cash
Use cash instead of credit cards to spend, which will make it easier to limit yourself to how much you can spend.
The envelope system helps you save money by only spending from one designated cash stash each month and withdrawing a set amount for different types of expenses (like groceries).
34. Spending Freeze
Implement a spending freeze, which helps you get used to not buying things for an allotted time so that when the freeze is over, it’s easier to buy what you want.
You will be surprised how much random online shopping you do.
Begin your spending freeze now.
35. Use a Budgeting App
Use your bank’s budgeting tools, like Quicken, which can help you track how much money is coming in and out of your account.
This is the simplest way to manage your money wisely.
Using a money app or a personal finance website can help you to stay organized and get more creative about your budgeting.
Check out this list of the best budgeting apps available.
Hacks to Make Money
Hacks to make money are a list of ways to generate income for yourself. Many ways to make money include blogging, affiliate marketing, or day trading. These money making hacks are great, but they can take more time and energy invested.
36. Use cash back apps
Cash back reward apps like Ibotta are a way to get extra money for your purchases.
They take some time getting used to and you only have access to partner stores that offer cash-back offers. It only takes a few seconds to make some extra cash.
Check out the best cash back apps available.
37. Ask for a Raise
A raise is an increase in pay for a job, labor, or service.
If you are concerned about asking for a raise, then you are missing out on lost money.
Your boss may be receptive to it, then try negotiating more money. Not only will this be good for your career, but also the relationship between you two can improve as well.
38. Get a side hustle
A side hustle is an additional job or career, usually, one that requires only a small amount of time and effort.
For example, someone who wants to work on the weekends might start a side hustle as a bartender.
Side hustles are a form of entrepreneurship that allows you to earn money and do little tasks. They are not difficult or time-consuming, but they can still help you make extra cash on the side.
Pick one of the best gig economy jobs.
39. Rent out a part of your home
A part of your home is often a room, which can be rented out on Airbnb.
Airbnb is the largest and most successful company in the world that lets people rent their extra space or properties. They are a well-known company that provides an easy way for people to make money from their extra space.
Use Neighbor to lend out your space in your home.
40. Declutter: sell your junk for cash
Decluttering is the act of getting rid of excess or unnecessary items.
In order to declutter, you must be willing to give up something that has been a part of your life for a long time. It is important to remember that decluttering does not have to be a quick or easy process.
Then, sell your stuff on Facebook Marketplace, Nextdoor, eBay, etc.
Learn more at Flea Market Flippers.
41. Earn Money While Watching TV
Although it is not a fast way to get rich, this can be used as a side hustle.
It’s better to use the money earned from watching TV or something else that takes up your time for other things like bills and groceries.
Survey platforms are online sites that allow people to earn money while watching TV.
The survey platform will send surveys through the mail or email, and then they can choose whether they want to take the survey for a set reward amount or if they would like cash back on their purchase.
One of these options is MyPoints, which allows users to earn points by completing tasks such as taking surveys and shopping online at specific retailers.
Others include:
42. Maximize Your Income
Find ways to increase the amount of money you bring in, whether that’s through a side hustle, increasing hours at work, or asking for a raise.
In today’s society, there are plenty of ways to make more money.
Only you put a limit on what you are capable of earning.
43. Build Your Credit
Building your credit can be a long process, but it’s worth the effort. If you’re trying to establish or improve your credit score, here are some tips that might help:
Try to keep your credit utilization rate below 30% at all times.
Do not open too many new lines of credit in a short period of time.
Pay your bills on time.
This will help you avoid damaging your credit score.
Hacks for Free Money
Hacks for free money are a form of fraud wherein the perpetrator solicits payment via PayPal, credit card, or other methods in exchange for access to what they promise will be a legitimate business opportunity.
Hacking free money is a way to make more cash, fund your financial goals, or help you pay off debt. There are lots of ways that people hack their finances and use cash back apps for some extra income.
Other options include signing up for bank bonuses or credit card bonuses.
Honestly, real free money hacks are more likely to be scams. So, beware when searching online.
Money Hacks in the Kitchen
You can save the most money by looking at what you eat.
Typically, people waste over 25% of their grocery budget and throw out food. Would you willingly throw out $250 a month? Probably not.
So, learn how to stretch your money for food.
44. Start meal planning
Meal planning is a money-saving strategy that can help in the long run. It’s also important to eat healthily and reduce food waste when meal planning.
But planning ahead will help save on the grocery budget, and it’s not too late to start now.
Start meal planning by deciding what you want to eat for each day. Then, make a list.
45. Say no to prepackaged foods
Packing your lunch for work or school can be time-consuming, especially if you have a family.
Some people prefer to buy prepackaged foods because they save time, but this is not always the best option.
A better choice is to make your own food at home and pack it for lunch, which you can then eat in peace without worrying about what other people might be saying about the food you packed.
46. Eat at home
Eating at home is a way to save money. It may be uncomfortable for those who do not enjoy cooking as it requires extra effort and time.
Instead of getting food at restaurants, consider cooking your favorite meals at home.
You can save money and time by eating the same meal over and over again.
Learn about the frugal home must haves.
47. Grow your own herbs and food
The most common methods of gardening include container gardening, hydroponics, and both indoor and outdoor gardening.
Many people are growing their own herbs and food for the satisfaction of being able to eat something that was grown with their hands.
48. Take your lunch
If you are interested in saving money, consider taking your lunch. This will save you up to $1,000 a year on work lunches and make it easier to meet the recommended daily intake of fruits and vegetables as well.
“Take your lunch” is an invitation to eat at home. There are many benefits of eating out less often, such as saving money and gaining more control over food choices.
Travel Hacks to Save Money
The following are travel hacks that can help you save money on your next trip.
Some of these hacks include traveling during weekdays, using public transportation, staying at hostels and Airbnb instead of hotels, and using a travel credit card.
49. Use foreign websites for lower prices abroad
Foreign websites are websites that have been created by people from other countries, and they sell products in the language of their country. These websites often offer lower prices on products than what is offered in the United States.
If you’re traveling abroad and need to find a place to stay, there are plenty of websites that can help. A few websites have deals on places where travelers often stay while they travel internationally.
50. Stay for free or get paid to house sit abroad
A house sitter is someone who looks after someone’s property for a certain amount of time in exchange for the promise of payment.
House sitting is typically offered by homeowners to travelers and others who are looking to stay in a particular location for an extended period of time.
The main types of house sitting include:
– full-time house sitters, who are responsible for all aspects of the house and who are typically paid a monthly salary,
– part-time house sitters, who may be responsible for taking care of one or more specific tasks such as gardening or handling the mail
51. Hide your search
To avoid being taken advantage of by airlines, it is best to open a new incognito or private window between searches.
This will make sure that you are not tricked into buying tickets that may be significantly more expensive than they need to be.
Airlines use cookies in your browser to make you believe the prices are going up and up.
Money App Hacks
Money app hacks are ways that people have figured out to make their money work for them in terms of saving and spending. These apps offer different features, such as budgeting, tracking your spending, and saving money.
If you want a simple way to save money, then any of these money apps are designed to find excessive spending.
52. Billshark
This is a legitimate way to save money on monthly bills. Billshark offers you the opportunity to save up to 25% each month (when compared with regular bill payments).
All of this can be done for you by BillShark team, and there are no fees involved!
Try Billshark for free!
53. Trim
Review your spending habits to find what you can cut out, like subscriptions.
Find other ways to save by looking for ways to reduce costly bank fees or getting a discount on your cell phone plan. By using Trim, you are saving money and improving your financial health.
Sign up with Trim now.
54. Truebill
Truebill can help you to track your spending, save money and get a clear picture of your financial life.
This helps you identify services that you are no longer using but continue to pay for. It will help save money by automatically negotiating prices with your service providers and receiving a refund of the money going to waste, which is free money.
Get started with Truebill.
Which Life Money Hacks Can You Start?
This is a lot to take in, but don’t worry.
Take the time to read through each suggestion and consider how you can implement it into your life.
The more hacks you try out, the closer you’ll get to a healthy financial mindset.
These are the life hacks to save money I have found to work for me and my family in order to reset our financial mindsets and grow our net worth.
Everyone will find their niche and what will work best for them.
Personally, you need to figure out how do I make more money. That will make the biggest impact the fastest.
What have you done with your money lately?
Know someone else that needs this, too? Then, please share!!