Tips to Prepare and Save Money For The Future

A key focus of my blog is Financial Literacy/Money. One of the most critical parts of your life is your money management. There are further keys to being successful with money, one of which is saving. The following contributed post is entitled, Tips to Prepare and Save Money For The Future.

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Photo by Towfiqu barbhuiya on Unsplash

The world is filled with uncertainties, particularly financially, there is no end to unexpected payments which arise over the course of a year, from mortgage rises and car breakdowns to medical emergencies.

Unfortunately, there is no way to avoid these, but having a robust savings strategy will mean these payments do less damage to your accounts. With all forms of savings, the key to success is consistency. Saving money isn’t just about restricting spending – it’s about adopting a long-term mission.

Here are some tips to help you build a substantial savings account to account for everything from rainy days to long-term investments or even some much-needed therapy shopping.

Cutting Unnecessary Expenses

Unluckily for all of us, saving always starts by trimming expenses to free up funds. How frugal you choose to be is up to you, but make sure to scruntize your monthly expenditure thoroughly. Ask yourself the following questions:

Are there any subscriptions you hardly use?

Can you cook more at home instead of dining out?

Are there any cheaper alternatives for your daily essentials?

It may be worth considering setting yourself a budget, though the success of this strategy varies from person to person.

Automating Your Savings

● Setting up automated transfers from your main account to your savings account ensures consistency, making it easier to stay on track with any financial goal.

● By determining a reasonable percentage of your income to be automatically transferred to your savings, you ensure that your savings grow without much thought on the matter.

● The key here is finding a reasonable percentage. There is no point setting a very high number each month, as it is likely you will scrap the plan in order to maintain your lifestyle. Many people use the 50-30-20 rule when it comes to finances. This would mean saving 20% of each of your monthly payments.

● Alternatively, you could leverage direct deposit options given by your employer. Many companies allow paychecks to be split between your accounts, meaning part of your wage can go into the savings account immediately.

Exploring Different Types of Savings

Though ISA’s and fixed-rate savings accounts are the most commonly used, they may not be the most effective option for you. If you are serious about saving, be sure to explore your options, several other types of savings accounts cater to specific goals and offer varying interest rates.

They include but aren’t limited to the following:

High-Yield Savings Accounts: These typically offer high-interest rates and are an excellent choice for short-term goals and emergency funds. This is because their rates are variable and fluctuate with the current state of the economy.

Money Market Accounts: These accounts offer higher interest rates while allowing limited debit card usage. They do, however, feature a minimum balance requirement.

Certificates of Deposit Accounts (CDs): This type of account offers a fixed interest rate for a predetermined period. They’re perfect for setting specific goals, but accessing funds before the account matures may result in a penalty.

Keep in mind there are plenty more options to explore, from the gold ira rollover, to peer to peer lending, each one has its own strengths and weaknesses.

Final Thoughts

Follow these tips and begin your savings today! The most important thing to remember is that when it comes to saving, doing something is always better than doing nothing.

Here are Some of the Top Ways you Can Save on your Monthly Expenses

A key focus of my blog is Financial Literacy/Money. A key piece of being financially literate is understanding how to manage and in some instances cut expenses. The following contributed post is entitled, Here are Some of the Top Ways you Can Save on your Monthly Expenses.

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One of the biggest challenges that you could hope to face in life is finding ways to spend less money. If you are in this position right now and want to help yourself, then you need to focus on lowering your monthly expenses as much as possible. Sure, your monthly bills might seem small or insignificant on their own but when you add everything together, you will soon see that the cumulative effect is enormous.

Use Public Transport

If you know that you have access to public transport then you can save a huge amount of money on gas, parking and even maintenance. Every time you leave the car behind, you can save money. If you don’t want to take the bus, then there are rideshare programs available and this makes it easier than ever for you to lower the expenses you face. If you feel as though your vehicle is rarely used, then you may want to try and sell it if you can. You never know, you might be able to pay off some of your high-interest debts. If you want to sell your car then visit Junk Car Cash Out.

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Consolidate your Loans

If you have student loans which have a very high interest rate, then it is helpful to figure out whether it makes sense to consolidate them. When you do this, you can then get all of your loans at a fixed rate and you can also save money every single month too. If you are carrying other kinds of debt at a high-interest rate then it is always a good idea for you to look into a balance transfer. This is a very good option and the best transfers can give you perks up to 0% APR for up to 18 months. Some of them even offer you a rewards program too. Taking advantage of this can help you to pay down your debt and you can also save quite a bit on interest. If you want to get the best result out of your debt, then make sure that you factor in some of the balance fees and that you also pay down the transferred balance during the introductory period if possible.

Credit Card Rate Deduction

If you have a very large balance on your credit card, then it makes sense for you to call your credit card company so that you can ask them for an interest reduction. If you pay your bills on time every single month, then they may be willing to negotiate with you by offering a lower rate. If you have a strong history of late payment, then a credit card for bad credit may help you to rebuild your score so that you can then qualify for a much better interest rate in the future.

Automatic Debt Repayment Plans

A lot of instalment plans, especially those which are associated with student loans will offer an interest rate reduction if you are willing to sign up to automatic billing every month. You should never pass up the chance to do this because if you do then you will be able to save money every single month while also being able to take advantage of the convenience. If you have any installment payments, then see if this is an option for you.

Sell any Unused Items

Dig through your attic or even your closet to see if you can find any clothes which you no longer need. If you do this then you will be able to sell a bunch of stuff on Ebay or even Craigslist. You can then use the money that you earn to try and pay off any debt so you can put it behind you once and for all.

Cut Down on your Energy Bills

Another thing that you can do is cut down on your energy bills where possible. When you do, you can then free up more money every single month. This is a fantastic way for you to try and have a bit more freedom with your finances.

Of course, there are so many ways that you can save money every month and if you follow these tips then you will soon find that it is easier than ever for you to take control of your finances. If you need some help with your money, then don’t be afraid to hire a financial advisor. When you do, you can then count on them to give you the support you need with getting everything in order.

4 Ways You Can Save Water

A key focus of my blog is Financial Literacy/Money. A key resource that all of us need is water. Quality and safe water is not a resource that everyone has access to, and thus conserving it is of the utmost importance. The following contributed post is entitled, 4 Ways You Can Save Water.

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Photo by Aaron Burden on Unsplash

Many of us don’t take the time to think about saving water and what a difference it can make if everyone was to changes a few things to help. Whether you need to save water because of a heatwave or are interested in saving money it’s definitely something to be mindful of and to try to make a little bit of a difference. Have a look at some of the easy ways that you could be saving water.

Only Use What You Need

Most people don’t over think how much water we are using with different activities such as making a cup of tea or cooking food however making a small change can make the world fo difference. Try only filling your kettle and boiling the amount of water that you are going to actually use rather than filling the kettle all the way to the top and see how much difference it makes. You can also take on this concept when thinking about watering your garden. By switching to watering by hand using a can you are significantly reducing the amount of water you are using compared to using a garden hose.

Cut Down Your Shower Times

Let us be honest, when we shower we don’t really think about how much water we are using we are preoccupied with getting clean. Fun fact though every minute your spend int he shower can equate up to 17 litres of water, now that sounds like a lot doesn’t it? Try setting a timer and cutting down the amount of time spent in the shower or switching to a more efficient showerhead, they should both help to save you water and cut down on your bills.

Store Rainwater

You really are making the most of your natural resources by catching, storing and using your rainwater and why shouldn’t you? Companies such as National Poly Industries supply and install water tanks, these are brilliant way and highly economical way of helping you to save water and money. You can use it to drink, water your garden and many other ways so it’s something you should be looking in to help take you in the right direction with saving water.

Change Your Diet

This might seem like a strange one to see on the list but there are ways that changing your diet can help you to save water on a much larger scale than you probably think. You could consider eating less meat as rearing animals for dairy and meat for meals uses a massive intensity of water. So by cutting down on the amount of meat you eating can reduce your water footprint immensely. When preparing vegetables you should also consider steaming rather than using pans of boiling water. With a steamer, you are using a considerable less amount of water to cook a larger amount of food.

Do You have any other tips for cutting back on water usage and helping to cut costs? Please share them in the comment section below.

How To Beat The High Co$t of Living

Two major focuses of my blog are Financial Literacy/Money, and Wealth Building. A key part of both of these areas is budgeting, planning and controlling costs. The following contributed post is thus entitled; How To Beat The High Co$t of Living.

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Another day, another bill. Another day, another dip in the bank balance. Another day, another moment when you wonder how you are going to cope with the rise in energy prices, bank charges, insurance costs, and more.

Rather than confront another day like yesterday, we wouldn’t be surprised if you huddled under your duvet in the morning, fearful of losing yet more money simply by going about your daily life.

Don’t despair! It is possible to beat the high cost of living, but you are going to have to work at it. You can put the ideas we give you in this article into your five-year plan, or better yet, your yearly planner. You see, you don’t have to let the financial aspects of your life get on top of you.

For starters, quit those bad habits that are eating away at your monthly income. Not only will you have more money in your pocket, but you will feel better as well. We are thinking of smoking and drinking alcohol, two expensive habits that are harmful to your health. We are thinking about watching too much tv; despite the many wonderful things to watch (and the utter drivel), you will save on your electricity bill if you spend time doing other things, such as (dare we say it), exercise! And quit your spending addiction. If you’re forever buying things you don’t need, then it’s little wonder you have no money for the essentials in your life. Put that credit card away!

Don’t let your utility companies take more money than they should. They are forever putting their prices up, but you are in your right to ditch them. You can get the same gas and electricity from another supplier, so use a price comparison service to find a cheaper deal. After switching, instill good habits around the home to make further energy savings. We have already told you to stop watching so much tv, but there are further ways to save money. Ensure your family are up to speed with your energy-saving habits as well, because as you know, they can often be responsible for draining your bank account!

Cut down the cost of driving too. For starters, don’t use your car if you are only travelling short distances. Why waste money on fuel when you can save money (and feel healthier) by using your two legs. As with your utility companies, use a price comparison site to save on your insurance. We use this site,, but there are there are plenty of others available. Then practice safe driving. You see, the less reckless you are on the road, the less likely you are to do damage to your vehicle, and the less likely you are to pay out on huge maintenance bills. Driving safely saves money on fuel too!

Don’t let your bank take you for a ride. If they are charging you monthly fees just for having an account with them, it’s hardly fair! As with some of the other things on this list, you can do yourself a favour by ditching those banks who are inflicting damage on your account and transferring to another. You should be able to find lower rates and fees, and may even get rewarded for making the switch too. Check out this banking guide as a way to make the most of your money.

You can beat the high cost of living by making changes in your life, and by doing your homework into finding cheaper alternatives to the people who take your money away from you. So, don’t delay, start to make savings today, and continue to practice good habits and price comparisons in the months and years to come. It does make perfect financial sense, after all!