đź’°Your last few days of moneymaking for 2023

Dec 27, 2023

We can’t believe we’re writing our final newsletter of the year already. Time flies when you’re mastering your money. For many of us, this year has been transformational so we’re keeping that momentum going in this issue of Hack Your Money. 

Today we’re bringing you updates that can make you money, some good news for next year, and busting a money myth that could help if you’re planning on investing in yourself. Here’s to supercharging your money, one step at a time. See you in 2024!

- Milan


Credit Card Fees May Drop 

It seems like the Consumer Financial Protection Bureau (CFPB) has heard our desperate cries because they plan on introducing a new rule that could reduce excessive credit card late fees by a lot. 

Financial institutions currently charge consumers a whopping $41 in credit card late fees, even if the payment is late by mere hours. This has cost American families billions of dollars annually. The new rule by the CFPB proposes that this rate be cut down to $8, which could save people almost $12 billion each year. 

Of course, financial institutions are fighting tooth and nail to turn this proposal around but a number of bigwigs have raised their voices in protest. If the proposal is approved, the rule could come into effect as early as January. New hope on the horizon for an otherwise hopeless period in time? Yes, please.

Google Might Owe You Money 

If you’ve ever been on the Google Play Store and thought to yourself, “Why is this app so expensive?”, you’re not alone. Google is preparing to pay a settlement of $630 million directly to 100 million consumers across America. An additional $70 million will be paid into a fund for states, who will in turn pay consumers who make similar claims.

The payment is a settlement for a 2021 lawsuit against Google that claimed the company was exploiting its market dominance by overcharging app creators on the Play Store. As a result, Android users can now also download apps outside of the Play Store, directly from creators.

Consumers are expected to receive their payments automatically so you don’t have to file a claim to get in on this deal. If you spent on apps in the Google Play Store between August 2016 and September 2023, you could be eligible to receive $2 or more. It’s not a lot of money but hey, at least it’s a cool story to tell.

Deals At The Bin Store 

Have you heard about the latest steal in town? They’re called ‘bin stores’ and they’re the reason you’re going to stop shopping retail. Here, you can come across great deals like a Playstation 5 for as cheap as $6!

These bin stores purchase truckloads of returns from Amazon, Target, and other retailers at bulk prices and are then able to resell them for dirt cheap. They only take cash and you have to bring your own shopping bag but you can rifle through bins and bins of toys, kitchenware, and even electronics like Xboxes and iPads. 

Typically, the prices are highest on restocking day and gradually get cheaper throughout the week. So if you have any New Year gift plans, side hustle ideas, or just want to feed your need for a great deal, check out the closest bin store to you! Learn more about the importance of a good side hustle to your overall financial well-being in our Top 15 Hacks Guide at milansingh.co/hacks 


"Debt is Always a Bad Thing"

Let's talk about a common money myth that might be holding you back: the belief that all debt is a no-go zone. While it's true that high-interest debts, like those credit card balances that seem to sneak up on us, can be trouble, not all debts are created equal.

Think of it like this: taking out a loan for something that can potentially increase in value, like a mortgage for a home or a student loan for education, can be a smart move. It's like making an investment in yourself or your future. The key is being savvy about the types of debts you take on and making sure they align with your long-term goals. So, let's break free from the myth that all debt is a financial boogeyman and start seeing it as a tool that, when used wisely, can actually work in our favor.


Here are the top videos you loved the most this week. Which one was your favorite?