The Essential Money Saving Advice for 2021
A new year brings about the chance to build a money mindset worth sticking to. Although for many of us saving money each month seems like an impossible feat, it can actually be easy once you break it down into manageable tasks. So if you feel like you’re ‘bad with money’, get geared up to put that all too familiar phrase in the bin where it belongs. You’re not bad or clueless with money, you’re an intelligent person capable of getting better with money management! Why not turn to the power of technology when it comes to saving those extra pennies?
Online Resources for Saving Money
Internet extensions like Honey can search the web for the best and most current deals to get you more bang for your buck. Mint is a free financial tracker site that brings all of your accounts, credit cards, bills and investments together to see where you stand financially. With personal insights and newly curated budgets, it’ll make saving something that you can actually stick to. It’ll also allow you to see the bigger picture all in one place. Make sure to check if your online bank account has a feature of rounding up spare pennies on every purchase – this way, you’ll not even notice as your savings start to build up among your daily purchases! If not, check out Plum!
Foster Good Habits
- Schedule 20 minutes a week to check your balance, credit statement and saving pots/funds.
- Move money into savings and other accounts when you are paid, that way it becomes a monthly habit.
- Cut back on the unnecessary purchases that don’t enhance your life or wellbeing (treating yourself is great but doing it every week mightn’t be).
- However, those purchases that positively affect your heath or productivity are valuable so don’t feel like every silver lining has to go just yet.
- Write down short-term, medium-term and long-term goals.
- Create specific pots for your goals if your bank has this feature – EG: house, holidays, food etc.
Now that you’re armed with the essential knowledge, you can unleash the savvy saver within!
Until next time,
The Front Row Team x