Fathers, you need to start saving money during the Coronavirus.

Hey fathers and visitors, I hope you greet this day with a positive attitude and a purpose! I have decided I am going to start shifting money from my pockets to adding money to them! With the coronavirus, many terrible things have happened, families have lost their loved ones, seen them get sick and suffer, the country is in distress, it has been bad.

“If you change the way you look at things, the things you look at change.”

Dr. Wayne Dyer

So I decided to start taking advantage of the good and give myself a newfound purpose. I grew up very poor and in honesty homeless for a stretch. My mom had 6 children of her own and 2 stepsons. So with my growing up poor and never having money, I resorted to making money on my own and taking what I wanted, bad choices, but learned from those mistakes.

As a kid growing up with no money, never having been taught lessons on finances, credit, I made plenty of mistakes and blew away a lot of money. After playing from paycheck to paycheck for many years, I find myself in a position to start getting ahead while still young, 34 at the moment. The coronavirus has forced banks to cut rates for financing. If you have high interest rates, you need to take advantage today.

Fathers, I am not a financial advisor, and in no way should you take action solely on my advice, please do your homework and talk to those who are financial advisors. With that said, here is what I have done to start adding money back to my savings:

Mortgage Refinance: I work for Ally and we offer amazing rates and have extremely high customer service ratings. If you choose to not refinance with my company, no problem you choose the right place for you. There are plenty of sites that compare for you such as Bankrate, but bottom line, the rates are at a all time low.

Student Loan Refinance: I also decided to take advantage of low rates for student loans, as someone who has accumulated over 30,000 in student loans, I knew there was an opportunity to save. Credible is a fantastic site to look at rates and find options that suit you, I dropped 4% off of my interest and will have it paid in 8 years with just $10 more a month to pay on.

Car Loan Refinance: Refijet is a site that I worked through to look at options. It was easy and the associates were very friendly and helped me find the right and best option. You have choices of lower payments or shorter term. I chose to save 2% off of my interest and extend by 6 months, but allowed a $50 a month savings. By splitting the savings and adding $25, I shorten my payments and save on interest. Only do this if it works for you.

Invest: Investing is complicated and do not just throw money because you friend John said to do so, believe me I tried this… Investopedia is a great site to learn the terms and meanings for the investment world. It has good articles and helps explain the complex world. Learn, but leverage the many free and low cost companies out there to help in the process such as Ally.

Thank you fathers, for the time today, and I hope this article can provide some information and good insights. With the refinancing I have done, I was able to save an average of 2% off of my interest rates, I am saving $400 a month, and I have in turn split that into $200 a month extra to savings, and $200 a month to investments. I hope this inspires you to take action today, get educated and start saving.