As everyone knows, effective budgeting is extremely important for any degree of financial security and balance in life, and the inability to budget effectively is often at the root of many different problems.
Of course, there are a lot of different budgeting systems, platforms, and approaches out there, in addition to a wide variety of financial streams that you might need to manage, whether related to Evolve Bank & Trust, investments of yours, or just your monthly paycheck.
Here are just a few tips for effective budgeting that you can get started with quite easily, and that might make a significant difference in your life.(more…)
For most of your life, money doesn’t just arrive out of the blue. You have to work hard for it, toiling day after day to achieve the lifestyle you want. But sometimes, something goes your way, and all of a sudden, you wind up with a massive lump of cash in your bank account. (more…)
Financial stability relies on your ability to make a consistent stream of money. It’s closely related to your job security and, should you lose that stability, you might be in some serious financial trouble. Of course, there are ways to counteract this, such as building up savings and investing in something valuable that you can exchange for money in the future. However, if you’re like most people, then you only have a single job and a rather small savings account.
So what can be done to improve your financial stability?
The answer; multiple sources of income.
No, this doesn’t mean you have to work multiple jobs! In fact, a lot of people with multiple sources of income only work a single job. While it’s completely possible to have multiple jobs to build several sources of income, it’s not the only way to secure yourself financially.(more…)
It starts off innocently enough – a family member or friend is in a tight spot and they need some money. Maybe they need to pay off some debt, or maybe they have medical bills that need to be addressed right now. Maybe it’s even something as simple as giving them a loan for school.
No matter the reason, loaning someone you care about money usually isn’t an issue. But, when it comes time to get that money back, things can quickly go south if you approach it the wrong way. It’s far too easy for people to become defensive, and you don’t want to risk ruining a relationship with someone you love because of dollars and cents.
So, whether you need to make more money and you need your loan back to get started, or you just want to recoup what you originally gave, how can you make sure you get your money back without destroying a relationship? (more…)
If this is the year you really want to go for it and earn more money, there are numerous things you can try. You won’t ever get rich swapping your time for money or in a soul destroying 9-5 job, so read on for some suggestions that could help you to boost your income.(more…)
Everyone knows how to waste money, but there are plenty of ways to save it, too. Whether you think about lowering your spending on utility costs or you want to save money on your commute to work, you should consider the tips we’ve got for you below. It’s a brand New Year – let’s look at the ways that you can save money this year!(more…)
Everyone makes mistakes, especially when personal finance is concerned. People waste money on silly things every day, from fancy coffees to new gadgets. We buy into trends, apply for huge loans, and never save for the future. Although these mistakes are mostly our own fault, sometimes bad advice has an influence. The world of personal finance is filled with old wives’ tales and falsity. With that in mind, here are a few money myths you must always ignore. (more…)
Getting ahead of your finances can be a constant battle. Sometimes you may be winning the fight, with money to spare. You may feel as though you can enjoy some lavish spending opportunities. However, at other times, your money woes could surround you and make you feel trapped.
You need to create a plan to keep a consistent approach to managing your money situation. At the heart of this, you should be looking at regularly reviewing your income and expenditure and finding ways to free up more spare money within this budget.
If you are not tracking your cash flow, unless you have a great deal of disposable cash, then you are heading towards some rocky ground. Having a plan in place should be your priority to avoid the stress that may come with not looking after your finances.
Create A Budget
You need to sit down with your online banking and create a spreadsheet. Have a look at where you are spending your money each month and list it into the document. Include at the top of the list your highest priority outgoings. These may include your rent or your mortgage. If you have any loans, credit cards to repay, or regular overdraft payments, then list these too. Following these, you will need to list each of your outgoing bills, including energy, phone, and any insurance payments.
Once you have the fixed essentials listed, you will need to create an estimate for the variable essentials, such as your monthly food shopping, and your transportation costs. Be honest about these amounts, and don’t try and budget so low that you won’t achieve the amount that you set.
You then need to look at your household income. It should be higher than your combined outgoings. If it is not, then you need to do some urgent work to rectify that.
Taking Loans To Manage Your Life
There may be times when you need to get a payday loan online. If you ever do take one of these out, make sure that you pay it back as quickly as possible as you will get charged a considerably high rate of interest for the convenience of the loan, which may mean you are paying back several times more than you borrowed.
If you have several loans or credit cards, you may want to consolidate this debt. Instead of paying multiple lots of interest, you will be paying one. You will find that your monthly payments will drop slightly too.
Go Through Your Bills
There may be places that you are overpaying on your bills. Go through them all and make sure they reflect the service that you are getting. You could look at switching to a new supplier for many of your services, and you may benefit from better prices as a new customer. Don’t forget, though, that once your introductory offers have expired, you may want to start looking to switch again.
Regularly comparing products such as your insurance and utilities will ensure you are always going to be paying as little as possible for these. This will mean you will have a bit of extra cash to enjoy.
One of the few things that literally everybody can do in order to make some extra cash is selling stuff online. A few years back, when there weren’t as many resources and knowledge as there is today, it was really easy to make good money online. In my experience it was a lot easier to sell stuff online and make way more money than it is nowadays. But that doesn’t mean you shouldn’t try. Everything you make extra is good, and especially if that also means decluttering! A filled bank account, a decluttered home and a lot of free space in your brain!
I’ve been doing this for years, because I prefer selling stuff I no longer want or use over keeping it somewhere in the back of the closet. I’ve collected a few of my favourite ways, because they’re easy or because it’s a good place to actually sell stuff for a good price. Guess what? Don’t try to stay anonymous, it will harm your ability to sell.
My number 1 place to sell stuff is…. Facebook! Try to find your local ‘marketplace’ group and join. People will like the fact that they ‘sort of’ can see from who they buy, and it’s super easy to upload photos and a ad via your phone. It’s free too, which is a big plus! Don’t forget to optimize your sale and share the post to your personal timeline too!
Do you’ve got a few spare tickets to a concert of festival? Sell them preferably via Ticketswap (Dutch) or StubHub (US). This way the buyer knows it’s a real ticket and they don’t buy it from a reseller. This guarantees a successful sale more than via an anonymous website like Ebay (although, Stubhub is owned by Ebay!).
Use marketplaces like Ebay (international), Craigslist or Marktplaats (Dutch) to sell your clutter. Lately I haven’t had any luck with selling via these websites, because if you don’t pay to stay on page number 1, you’ll soon end up at page 39. Ebay also charges a small percentage of your sell for its service, so if you’re trying to sell stuff valued a small amount, it’s probably not worth it.
Don’t forget to sell your used electronics once you’re done with them! NextWorth is one of the most well-known marketplaces for used electronics.
Have a look at the local used book store. They often trade books for money, and you can quick sell a lot of books to them. Don’t expect to make much money on them, but it’s nice to have a minimalistic bookshelf with books you’ve actually read and love!
Pawnshops: Of course, it’s much harder to sell certain items, such as jewellery, online. Go to the pawn shop!
Do you’ve a lot of clothes? Start your own simple webshop and promote! Start a simple (seriously, a one click one!) here: ASOS Marketplace | Tradesy
You never really know when you are going to lose your job, or even when your car is going to break down. This can cause you various issues because you may feel as though you don’t have the money to cover it and that you also can’t make the right changes fast enough. Luckily, there are things that you can do to try and prepare for a financial crisis well in advance.
It seems that in the US many people earning a good living still run out of money by the end of the month and are waiting for their next paycheck. It is a common problem, but it seems that one issue that Americans have is that they love to eat out. Percentage-wise, lower paid workers spend as much on eating out as higher earners, and stopping doing this quite so often is just one way of saving some money.(more…)
The people who are able to save money effectively are few and far between. Saving is something that is just really hard to do. Giving up buying stuff now to get more in the future is rather abstract to most people.
What’s more, saving requires constant discipline. You can’t be a good saver online on Tuesdays and Thursdays and then not the rest of the week. Saving is something that you have to do every day of the week. One massive spending spree at your favorite online retailer can completely derail your efforts. (Think ASOS).
So with that said, are there any hacks that can help you get around this rather annoying problem. Do you have to be a Trappist monk to save in the 21st century? Or are there shortcuts that make the whole thing a lot easier? Check out the following.