No matter your financial goals or desires, these simple yet effective life hacks can help make money go further. Start by tracking expenses; use spreadsheets, apps or Mobile and Online Banking’s Spend Tracker to do this effectively.
Another helpful hack is paying cash only; this will prevent the impulsive part of your mind from taking control!
1. Make a list of all your subscriptions and memberships.
Subscription services like Spotify for music listening, Hulu/Netflix for TV series streaming and Patreon donations to support podcasts you love can make life simpler – yet their hidden costs may put an unnecessary strain on our budgets.
One easy way to reduce costs is to regularly review your bank statement and discover any recurring payments that you might have forgotten about. Bobby (iOS) and Tilla can help keep an eye on all your subscriptions – renewal dates and prices included.
These tools work by connecting to your bank account and automatically checking for payments that may be due, alerting you if they are and offering to either cancel or renegotiate subscriptions if necessary.
3. Use your credit card in ways that maximize your rewards.
Credit card rewards can be an excellent way to save money and earn free flights, hotels and travel perks – provided they fit with your spending habits and goals. But it is essential that these cards be used responsibly.
One method to accomplish this goal is through Dave Ramsey’s envelope budgeting system, which involves withdrawing an equal sum each month and allocating it among envelopes that represent different budget goals.
N26 Spaces provides another great way to maximize credit card rewards: automatically moving part of your daily spend into different savings accounts. That way, you’re guaranteed the maximum possible returns from each card, helping you reach savings goals without making sacrifices in other areas.
4. Pay off your credit card every month.
If you have a balance on your credit card, make it your goal to pay it off each month in order to improve your finances and save money in interest payments. Doing this can put you on the path toward financial wellness and save on interest payments.
To avoid impulse spending, give yourself at least three days to consider any major purchases before going ahead with them. This will allow your gratification factor to moderate and give you time to search for cheaper options elsewhere.
Use personal loans and balance transfer credit cards to consolidate multiple debts into one monthly payment and possibly reduce interest payments – these brilliant lifehacks will allow you to stretch your budget further while making every dollar go further!
5. Take advantage of cash-back apps and coupons.
Cash back apps and coupons provide an effective way to save money on purchases you would have made anyway, when combined with rewards credit cards for maximum savings potential.
Some apps require you to upload a receipt while others allow you to link your card and receive automated cash back. Others, like Dosh and Benjamin offer additional benefits like price protection.
As costs for everyday items have increased recently, there are ways to stretch your budget as far as possible. By using cash back apps such as these you can earn rewards and discounts that help save you money on groceries, gas and online shopping – such as groceries. When selecting one look for low minimum redemption amounts as well as features which make using it simple.