17 Quick and Dirty Financial Tips to Get Your Money in Shape
Are you feeling financially overwhelmed? Here are quick ways to improve your personal finance situation with these quick and dirty financial tips. There’s no doubt in anyone’s mind that it is absolutely essential to properly manage personal finances.
Whether you’re saving for a rainy day, making sure you’re covered if the car breaks down or the washer breaks, planning a vacation, figuring out cash management services, budgeting to pay off credit cards, or trying to make significant investments like buying a house, knowing how to manage your money is essential.
While not everyone needs to use smart finances to get out of debt, absolutely everyone wants to know how to make the most out of their earnings, and enjoy a higher quality lifestyle, that is stable and financially secure.
The following tips aren’t published in a book anywhere, and they’re not something we teach in school however they are points that everyone who is savvy when it comes to savings, investments, and outgoings are well aware of.
1. Stay On Top Of Interest Rates
This may be easier said than done, as many families have mortgages, loans, credit cards, and car payments to balance out every month.
However, when you have time you can save yourself significant amounts of money every month by paying off higher-interest debts faster than others and making sure you’re aware of when you can switch to 0% interest credit cards or mortgages.
Interest can eat up your salary, and you have nothing at all to show for it.
2. Mark It On Your Calendar
Those days when payments are due, or taxes need to be filed should be a regular on your calendar as other daily necessities. This is a basic thing to do that ensures you never miss a payment and are completely in control of all your finances.
You can tell straight away if something isn’t right, and won’t end up running around trying to pay everything at the last minute, or dealing with late fees. So before you remember to pay a bill on your commute to work, just mark it on your calendar so you can pay it on time.
3. Set Real Goals
If you have a dream vacation, or car, or plans to renovate your home, you should be vaguely aware of the costs involved. Figuring out the exact costs and how much you would need to save every month in order to realize these goals can be a great step in restricting wasteful spending.
Many people don’t even realize how much they spend a month on take-out, restaurants, cable TV or even small purchases like buying lunch at the office canteen instead of taking their own.
You may surprise yourself with how much you can save when you suddenly have a reason to stop spending on unimportant items.
4. Get a Side Hustle
This is something that has become more and more popular in the last few years, with people looking for ways to make some extra money on the side.
There are a number of different options when it comes to finding a side hustle, and you can choose something that best suits your skillset or interests. This can be anything from freelance work, to pet-sitting, to taking surveys for gift cards with Swagbucks. If you use a Swagbucks sign up code, they'll even spot you $10 just for getting started.
If gift cards aren't your thing, you can take surveys for free cryptocurrency rewards, PayPal cash, a check in the mail, or other prizes.
The important thing is that you make extra money on the side so that you can put it towards your goals and save more easily.
5. Commit To A Savings Account
Nate J., a financial manager from Beat Student Loans, says that ‘most people don’t realize how much they can afford to save.’
While many of us are able to account for 90% of our earnings, between housing, groceries, the gym, and a social life, there is often a final 10% that just disappears.
However that last 10% is spent, you can normally find it by writing down every single purchase for a month.
At the end of that month, you can then normally see that 5-10% of your income could go into a savings account if you just stopped unnecessary purchases.
6. Get Rid Of Your Cards
Dozens of experiments and personal stories show that it’s much easier to save money and stop unnecessary spending by using cash only.
This means that you actually see your finances dwindle with every purchase of a few dollars, and you could be surprised by how much you’ve spent at the end of the day.
7. Become Socially Conscious about Money
When you’re out with friends or family, and the topic of money comes up, do you cringe or try to change the topic?
If so, it’s time to start becoming more socially conscious about your finances and who you bank with. Did you know that are socially responsible banks?
These banks invest in renewable energy, microcredit loans, and other types of initiatives that help to improve the world we live in.
When you bank with an institution that is trying to make a difference, you’re indirectly supporting those same initiatives.
8. Stay Positive
If you’re walking around telling people you’re bad with money, can’t save up, and will never have savings, then that is exactly what will happen.
Find a way to adopt a good mental attitude. Start manifesting money. Tell yourself you can do it, and treat saving up as a form of self-love – you’re taking care of yourself, your future, and your dreams simply by putting down a spare lipstick or pair of designer trainers.
9. Don’t Be Shy About Your Values
One of the best ways to have more money is to make more money.
Don’t be afraid to negotiate for better pay, a better job title, or even a promotion, maternity or paternity pay, overtime, or bonuses.
When you know you are a good employee, you deserve to be valued, and you should be paid for the good work you do.
10. Make More Money
In today's gig economy, there are tons of ways to make extra money through delivery apps, ride-share apps, and the list goes on.
If you're not currently taking advantage of the extra money-making opportunities out there, start today! Get jobs like Instacart, sign up for a task, and get started.
You can see some of the best gig jobs to help you choose an app that works for you.
11. Don’t Cut Out Treats Altogether
While many of us could cut back when it comes to taking out, clothes, and other indulgences, completely depriving yourself is not the way to go.
It’s not feasible and you won’t stick to your new plans if you’re miserable. Try to cut back, rather than completely stop buying yourself the small things that make you happy.
12. Travel More
Travel can help you broaden your mind and see the world in a new way. It can also be one of the most rewarding things you ever do in your life.
If you're looking to travel more, but don't want to spend all your hard-earned money, look into ways to travel for free.
There are many ways to do this, and you can find a few ideas so you can get more out of life without spending more.
13. Automate Your Savings
One of the best ways to make sure you stick to your savings goals is to automate your finances.
This means that a percentage of your paycheck is automatically deposited into your savings account or investment portfolio without you having to think about it.
14. Start Micro-Investing
Another great way to save money is to start micro-investing. This means investing small amounts of money into different types of investments, such as stocks, real estate, or other ventures.
You can start by investing as little as $5 per week into a variety of different options. This is a great way to get started in the stock market and to see how investing works.
Acorns is a super user-friendly micro-investing app you might want to check out. Right now when you sign up for Acorns and invest just $5 you can get $50 in cash back for free - use it towards Amazon or PayPal, or put those funds into Acorns and let your money work for you.
15. Find Ways to Earn in Your City
If you live in a major city then you can find unique ways to score easy money in your city. For example, if you live in Miami, type into Google: "How to Make Money in Miami".
This will output unique ways to make money in the sunshine state. You can replicate this with whatever city you're in and find gems to make easy money.
16. Educate Yourself
Personal finance books can empower you to budget, build leadership skills, save for retirement, get out of debt and tackle many other money-related decisions with confidence.
But the possibility of falling down an Amazon rabbit hole or spending all day at the bookstore debating which title to pick is enough to deter some folks.
You should narrow it down by reading recommendations of the best personal finance books to put you back in charge of your money and finances.
17. Prefer for Retirement
One of the best things you can do for the new year is to make sure that your investments are on track you are prepared for retirement.
Even if you are only in your 20s and retirement is decades away, it is always a good habit to make sure you are aligning yourself for success.
You'll want to save money, know your retirement needs, contribute to your employer's retirement plan, and don't touch your retirement savings. You can also open a Roth IRA and try and max it out, if possible.
Conclusion