Most of us work pretty hard for our money.
Also, like the rest of us, you have some pretty important financial goals you want to achieve, whether that’s increasing your savings rate, building an adequate emergency fund, buying your first home, or retiring by the age of 60.
This is why it’s important to find ways to keep as much of your hard-earned money in your hands as possible.
Here are some money hacks you can start applying today.
Automate Everything
From monthly bill pay to saving and investing, try to automate as much of your financial life as possible. Putting systems in place so you don’t have to constantly think about your money is one of the best things you can do to step up your money game next year. Automating your savings can turn your savings deposits into another monthly expense. This can help you prioritize your savings contributions, reducing the temptation to spend those funds without planning ahead. When you automate your savings, it’s easier to ‘pay yourself first’ when that paycheck comes in.
One of the biggest benefits of automating is that it will free up time. You no longer have to make that transaction and you can focus on other things.
Use Free Financial Tools and Calculators
With the sheer abundance of financial tools, apps, and calculators that exist, not having some basic financial understanding and insight into how you’re doing is no excuse.
You can literally find a financial tool and calculator for just about anything. What’s even better is that several of the best online resources and tools are either completely free to use or offer some free version you can get started with.
These tools can help you quickly and accurately assess your financial situation or certain parts of it so that you can gain insight into how you’re doing and where you should be focusing your attention.
For example, if you’re looking to determine the impact of compound interest on your retirement savings, you can quickly Google for the best of those calculators. If you’re looking to draft a monthly budget quickly, you’ll want to use a monthly budget calculator. If you’re looking for insight into your retirement outlook and current trajectory, consider using an online retirement calculator.
Save Money On Transfer Fees
Using a digital wallet like Jeton could save you tons of money on transferring fees compared to traditional services. With Jeton you can send money to your friends and loved ones in a matter of minutes, all you need is the email or phone number of the person you’re sending money to.
Benefits of Using Jeton Wallet
- Affordable and quick
- Convenient
- Withdraw money directly into your bank account
- Merchant-friendly
- Secure payments
Take it Easy on Takeouts
In light of everything going on with the current lockdowns and social settings, we often found ourselves getting back into the bad (financial) habit of ordering takeout one too many times per week.
So while this one can be a huge ask for a lot of people, it’s also one that has a very significant and immediate impact on your overall financial health. By simply cutting out just one day a week from ordering takeout, you save yourself anywhere from $30 to $60 on average.
That’s money that could easily be re-invested into your savings account, used to pay down your already existent credit card debt, or even used to pay for groceries for a few days.
Take Advantage of Cashbacks, Discounts And Other Rewards
If you aren’t using cashback rewards, you are literally throwing your money away. Cashback as the name implies gives you cash back on purchases that you make at stores, websites, brands, and restaurants. Here at Jeton we believe in giving back to our customers. We have a number of cashback offers like the 1% cashback of your online purchases.
Start Investing Right Now
If you don’t start investing in something(s) and growing your money, you are highly likely to be broke and living paycheck to paycheck forever.
There are countless things to invest into such as real estate, your own business, cryptocurrency, stocks, bonds, precious metals, and even things like trading cards.
Unless you have a specific passion, it’s recommended starting off with stock investing. It’s one of the quickest ways to start growing your money
Yes, the stock market can be intimidating, but the sooner you learn about it and start investing, the better for your financial future.
