This Week’s Money Map:

• 🚗 Cut car insurance by 40% with pay-per-mile plans

• 💳 Turn everyday spending into 5% cash back with Venmo’s debit card

•  🔐 The real cost of oversharing — protect your data!

• 💰 Ditch fee-hungry banks — MoneyGeek Book Club’s I Will Teach You to Be Rich (week 2)

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🚗 How to cut car insurance by 40% with pay-per-mile plans

If your car sits in your driveway most of the time, your insurance premiums shouldn’t reflect full-time use. It’s like paying for an all-you-can-eat buffet but just getting a salad. This is where pay-per-mile car insurance steps in. These plans work by charging a base rate — much like traditional insurance — plus a small fee for each mile you drive, with mileage tracked by a device in your car or through an app.

Mileage matters: Slash your premiums
For low-mileage drivers — those who drive under 10,000 miles a year — this method can reduce premiums by 25–40% or more. For instance, if you average 125 miles per month, you might pay about $31 with a pay-per-mile plan compared to $59 for a standard policy. You can explore your potential savings using MoneyGeek's car insurance estimator.

Who’s it best for?
This insurance model is ideal for remote workers, city dwellers who mainly use public transit, retirees who drive occasionally, and households with multiple vehicles where one is mostly idle. However, it might not suit road trip enthusiasts, long-distance commuters (15,000+ miles annually), rideshare drivers without specialized coverage, or those living in areas where extreme weather often keeps them off the road, as you’ll still incur the base rate regardless of mileage.

Top providers to watch
Among the top providers worth considering are Nationwide, which offers one of the most widely available pay-per-mile policies; Metromile (now part of Lemonade), recognized as a pioneer in this area; and Allstate’s Milewise, which combines the reliability of a big name with competitive per-mile pricing. View more recommendations and compare quotes on MoneyGeek's auto insurance hub.

Bundle for even more savings
Beyond choosing a pay-per-mile plan, consider bundling your auto insurance with other policies, such as homeowners or renters insurance. Many providers offer additional discounts when you consolidate your coverage under one roof. This strategy not only simplifies your finances but can also lead to substantial additional savings. 

Many insurers also offer free trial periods, allowing you to compare your current comprehensive coverage with a new pay-per-mile policy without any commitment. If you drive infrequently, switching to a pay-per-mile plan might just be the insurance hack of the year.

💳 Turn everyday spending into 5% cash back with Venmo’s debit card

Venmo’s debit card isn’t just a payment tool — it’s a cash back hack! With up to 5% cash back at popular retailers, no monthly fees, and seamless integration with your Venmo balance, this card is a game-changer for savvy spenders. Here’s how to maximize its perks and turn routine purchases into cash back. 

How the Venmo debit card works
Linked directly to your Venmo balance, this Mastercard® lets you spend money you’ve received from friends, direct deposits, or transfers. You’ll earn up to 5% cash back by activating rotating offers in the Venmo app for categories like groceries, dining, and entertainment. The card charges no monthly fees, requires no minimum balance, and avoids foreign transaction fees — but it only works with U.S. merchants. For cash access, you can withdraw funds fee-free at over 40,000 MoneyPass® ATMs nationwide, making it a versatile tool for everyday spending.

3 steps to earn maximum cash back
Start by activating cash back offers strategically through the Venmo app. Navigate to your debit card balance and toggle on deals from brands like Target, Sephora, or Wendy’s, which refresh monthly. Leverage Venmo’s bill-splitting feature — after friends reimburse you for shared expenses, transfer those funds to your balance and use your debit card to earn cash back again on everyday purchases.

Advanced money hacks
To amplify your rewards, pair the debit card with Venmo’s credit card, which offers 3% cash back on top of spending categories, creating a double-dip opportunity. Track your earnings through Venmo’s in-app transaction history to identify spending patterns and adjust your habits.

Why this deal stands out
Most debit cards offer zero rewards, but Venmo’s 5% cash back rivals premium credit cards — without requiring a credit check or annual fee. For frequent Venmo users who already split bills and transfer funds, this card turns routine transactions into profit.

 🔐 The real cost of oversharing — protect your data!

Clicking “Accept All” on cookies or carelessly sharing details online isn’t just annoying, it’s downright risky. AI-powered scams and deepfake phishing have made oversharing more dangerous than ever. Your personal info is a goldmine for cybercriminals. Here’s how to lock it down.

Why you should care (more than ever) about data protection
Thieves no longer need sophisticated skills to exploit your data. Tools like AI voice clones and QR code skimmers (up 63% in 2024, per Verizon’s Data Breach Investigation report) turn simple overshares into identity theft. A leaked email or phone number can lead to drained accounts or fraudulent loans.

Smart sharing strategies for 2025
1. Don’t give out your real phone number — Apps like MySudo ($1/month) generate disposable numbers for sign-ups. Retailers like Target now accept “555” numbers for discounts — no verification needed.
2. Mask your address — Use Anytime Mailbox for a virtual address that scans mail to your inbox. Bonus: they’ll shred sensitive docs for a minimal fee. 
3. Avoid putting public posts on social media — Lock posts to “Friends Only” and disable geotags.
4. Get creative about your security question answers — Fake answers to security questions (e.g., “Pet’s name? TacoTuesday”) and store them in 1Password’s “Secure Notes.”
5. Shop safely — Banks like Chase now offer virtual cards with dynamic CVVs (Card Verification Value). Prefer PayPal? Enable one-time passcodes for checkout.
6. Password power-ups — Weak passwords are obsolete. Use a 16-character mix, like PurpleLlama$2025!, stored in a manager like Bitwarden (free). Add biometric logins (fingerprint/face ID) for critical accounts.

Free tools to stay ahead
Stay proactive with free, user-friendly resources designed to protect your data. Start by visiting Have I Been Pwned to scan your email and phone number for breaches — this tool flags if your info is circulating on dark web marketplaces. For credit monitoring, Credit Karma sends instant alerts when new accounts are opened in your name, helping you catch fraud early. When shopping online, Privacy.com generates burner card numbers that mask your real banking details, blocking merchants from overcharging or leaking your data. 

Pro tips for extra security
For ironclad protection, freeze your credit through Experian to block lenders from accessing your report — a critical step to halt unauthorized loans. Activate your phone’s “Lock Mode” (found in iOS/Android security settings), which disables biometric logins after three failed access attempts, thwarting brute-force attacks. Before scanning QR codes at restaurants or parking meters, use Malwarebytes’ QR Checker (on iOS/Android) to verify links aren’t hiding malware or phishing sites. Together, these steps create a layered defense against today’s most sophisticated threats.

Remember, digital security isn’t a one-time fix — it’s a lifestyle. Stay proactive, stay curious, and transform your online presence into an impenetrable fortress.

💰 MG Book Club: Week 2 of I Will Teach You to Be Rich

This is week 2 of our deep dive into Ramit Sethi’s I Will Teach You to Be Rich. After talking about credit cards last week, we’re tackling the sneaky budget killer: fee-hungry banks.

Picture this: It's payday morning, and you treat yourself to a $5 latte, unaware your account is $2 short. By afternoon, that coffee triggers a $35 overdraft fee. Then your scheduled gym membership hits, causing another overdraft. Within 48 hours, it snowballs into $175 in cascading fees. It's a nightmare scenario playing out daily across the country, with banks collecting a staggering $5 billion in overdraft fees in 2024 alone. The worst part? These fees disproportionately affect younger Americans and those living paycheck to paycheck, often leading to closed accounts and damaged credit scores.

Why big banks are your enemy
Traditional banks profit by charging fees for everything — overdrafts ($30+ per slip), monthly maintenance, and even ATM withdrawals. Worse, they’ve been caught opening fake accounts and pushing unnecessary products. As Sethi puts it, “Banks love average customers who don’t know any better.” The solution? Ditch them.

Choosing accounts that work FOR you
Your checking and savings accounts should be fee-free, convenient, and trustworthy. Sethi’s top picks:

• Checking: Schwab Bank (no fees, unlimited ATM reimbursements) or a local credit union with no minimum balances.

• Savings: Capital One 360 or Ally Bank for high-yield interest and automated savings buckets.

The key is separating checking (for daily spending) from savings (for goals like emergencies or vacations). This “psychological firewall” stops you from raiding savings impulsively.

Negotiate like a pro
Already stuck with a fee-heavy account? Call your bank and say:
“I’ve been a loyal customer for [X] years, but [Competitor] offers no fees. Can you match that?” Most banks will waive fees to keep you. Sethi shares how he saved $47 in overdraft charges with one call.

Build a fee-proof banking system in 3 moves
Start by auditing your current accounts: Pull up your last three bank statements and scan for hidden charges like monthly maintenance fees. Next, switch to a no-fee, high-yield account. Sethi recommends online banks like Schwab or Capital One 360, which offer 4%+ APY savings accounts and reimburse all ATM fees. Finally, automate your savings. Set up direct deposit to route 10% of each paycheck to your new high-yield account, then schedule weekly transfers.

Bottom line
Big Banks profit from your inertia. But as Sethi says, “A few hours of work now saves thousands in fees later.”

This week, spend 10 minutes reviewing your bank statements. If you spot fees, call your bank or switch to a recommended account.

Smart money management doesn’t stop with banking. Whether you're optimizing your budget, making smarter investments, or planning for the future, having a solid financial foundation is key.

Smart Cents gives you actionable tips and mindset shifts to help you reach your financial happy place. Thanks for being a part of our community.

The MoneyGeek Team

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