Money-Saving Tips to Lift Your Finances in 2021

2020 has been one of the toughest years of most of our lives. The Covid-19 pandemic wreaked havoc on the world and impacted almost everyone in some way. It has been emotionally, mentally, and physically taxing for some and financially straining for others.

Businesses that saw their revenues take a plunge during the pandemic had to let go of a major portion of their workforce. People who lost their jobs or were furloughed in this period had to learn the art of saving money.

Flash forward to today, things are slowly improving and the economy is getting back on its feet. But even without a threat of a pandemic and economic recession, money-saving is a good skill to possess.

If you’re someone who wants to master this art, 2021 can be your year. All you need to do is to follow tried and tested money-saving strategies. 

Be it searching for discount coupons, using financial apps, or making small investments, there’s plenty of things you can learn to lead a financially stable life.

Here’s how you can go about it.

Best money-saving tips to stick to in 2021:

Following are some of the best money-saving tips you should apply in 2021:

1. Create a new budget

It may sound cliché, but to have a great financial year you must have a fresh start. Your first step should be creating a budget from scratch. We all know budgeting is the foundation of a financial tree. 

Your financial needs are specific to you. This means you cannot imitate somebody else’s footsteps to achieve your financial goals. You need to create a system that works for you.

You can get inspired by the people with a successful financial life. However, pick only those habits that work for you. If you want a budget that is easy to follow, make it natural and specific to your financial needs.

To create a budget that works for you, follow the following steps:

• Get a hold of the basics:

Before creating a budget, you must know the basics including your income and your expenses. Keep track of your current cash flow to create a new budget.

• Three pillars of an effective budget:

Every effective and successful budget requires three pillars including automation, tracking your expenses, and an emergency fund.

• Add your values to your budget:

Your budget should be personal to your financial needs. Therefore, before creating a budget, you must identify your values and incorporate them to create a budget that works.

• Select the right budgeting principles:

Choose the right budgeting principles to adhere to. Not every budgeting principal will work for you. Select the principles that suit your lifestyle and your financial goals.

• Create a frequency budget:

Breaking your budget into smaller chunks makes your financial goals more achievable. Dividing your budget into a smaller pay-check-sized frequency budget will make it easier to keep track of where your money is going.

To create a budget that works, you need to set achievable financial goals. This way you will not burn out and quit when your budget doesn’t work for you.

2. Do a “No spend” month challenge:

This money-saving hack is as simple as it sounds. All you need to do is not to spend anything for a month. This does not include essentials for example groceries, fuel expenses, utility bills, rent or mortgage, and insurance payments. 

All you need to do is to say no to additional expenses for a month.

You can cut down various expenses such as non-essential products, coffee, pre-prepped lunches, takeaways, meal deals, movie tickets, and more. 

You should set yourself an end goal and cut down extra expenses to save a fortune. The “no spend” month challenge will put you on the right track to achieve financial goals.

It will be difficult in the beginning but will get a lot easier as days pass.

3. Invest smartly with fintech:

If you want to grow your capital, you should invest smartly. Today, various technologies enable better finance management. 

Whether you are saving for post-retirement life or to pay for your child’s college tuition, using fintech makes it easier for you to achieve your financial goals. 

 Finance technology helps those who are new to financial management or find it hard to stay consistent with their money-saving practices.

• Fintech solutions for smart investment:

For those who are investing for the first time, it can be a scary experience. However, with the latest fintech tools, it gets easier to automate your finances. These tools keep you on the right track and guide where to invest.

You can create an investment portfolio with fintech. It should be based upon the amount of time you want to keep your money invested as well as your financial goals. 

Having an investment portfolio ensures smart distribution and diversification of money. This distribution is based upon your monthly expenses.

Fintech apps allow you to:

• Invest money in a savings or retirement account
• Automate a specific percentage for every part of an investment portfolio
• Distribute of money based on factors such as tolerance to risk

4. Work towards increasing your income:

No matter which stage of life you are at, you should work towards increasing your income. It gives you financial security and makes it easier for you to achieve your financial goals. it doesn’t matter if you have single or multiple streams of income, you should always try to increase your all-around income. 

Having a plan for the future keeps you on the right track and allows you to achieve your goals faster.

You can increase your income in four ways including:

• Working to get a promotion at work
• Get a pay raise while working at your current position
• Look for a higher pay job
• Invest in a business

5. Comparison shopping:

One of the best ways to save money is to shop smarter. This can be achieved through comparison shopping. Before purchasing an item online, look for its alternatives and compare them in terms of pricing. Compare their pros and cons and choose the option that suits your need the best.

With the entire world under lockdown, it is safer to shop online.

Smarter shopping includes waiting for your desired item to get on sale. One of the common mistakes people make while shopping online is forgetting to compare the store, product, or service.

Various browser extensions provide you access to a variety of deals for various eCommerce platforms. You can utilize Buy One Get One (BOGO) offers and find free shipping on your desired.

One of the best Chrome Web Store extensions you can use is the Amazon exclusive extension. You can use this extension to compare stores and make online shopping a lot more convenient.

6. Using discounts and promo codes:

According to the latest data on coupon redemption, over 90% of consumers utilize coupons in one way or another. Paper coupons were extremely common in the past. 

People used to cut out coupons from newspapers to redeem in-store while shopping for groceries and other essentials. While they are still popular today, digital promo codes are gradually taking their place.

These coupons are available on mobile apps, social networks, websites, and emails. In 2019, over 25 million people in the US redeemed coupons through couponing apps to save money on their purchases. 

Coupons allow people to save money regardless of their social status. If you want to save more money in 2021, you should redeem as many coupons as you can.

Wrapping up!

2020 has been one of the life-changing years for most of the world. The increasing uncertainty is causing more people to get into the habit of saving. 

There are various money-saving tips you can follow to make 2021 one of the best financial years of your life. By following the above-mentioned tips you can add more financial balance to your life.

Budgeting for a Family: Ways to Work Toward Financial Freedom

When you have a family to provide for, it's essential to make sure you do everything you can to plan for the future. Not only is it important to have the necessities like food, clothing and shelter, but it's also best to create a life that you all can enjoy. 

Whether you'd like to go on a family vacation, out to the movies or make an investment, it's good to have the financial freedom to do so. In order to make it happen, you'll want to have a budget in place. 

In addition to a budget, there are ways you can create wiggle room so that your family can achieve the financial freedom you desire.

Use coupons

Get creative about the ways you create more room in your budget. Grocery shopping for a family is completely different from grocery shopping for yourself. You'll spend a lot more money. In order to keep costs low, it's good to shop in bulk. 

However, it's also great to use coupons. Now, there are tons of coupon apps you can download in order to get the discounts you desire. When you're shopping online, it's a good idea to download various widgets and apps that'll feature different discounts before you purchase the items in your online shopping cart.

Create passive streams of income

Passive streams of income are essential in order to build wealth. If you don't have various vehicles set in place, it's time to start building them. If you're an excellent writer, consider writing a series of eBooks. 




Upload them to the sites of major book retailers, and promote them consistently in order to earn money. Invest in the stock market or in the foreign exchange market.

Readjust your bills

Reconsider your cable bill. Get rid of a few of the luxurious amenities for a little while. If you're in a bind and you're a homeowner, you might want to consider shifting the interest rate on your mortgage loan by switching to a home equity loan. In some cases, this can be a really helpful move to allow you some breathing room.

DIY

Do your own manicures and pedicures. Style the children's hair yourself. Cut your own grass. There are certain tasks you can do on your own as they will help you refocus that money into more lucrative investments.

As you work hard to turn this goal into reality for your family, you might get discouraged along the way. There will probably times when you'll lose motivation, and feel compelled to give up. 

However, think about the fact that you're working for more than just yourself. You're working in order to help your family experience a better future. When you're able to keep things in perspective, it'll be easier to continue on the journey to financial freedom.

7 Easy Tips for Maintaining your Personal Finances

According to a report released by the Federal Reserve in May of 2015, Americans were carrying more than $11.86 trillion in total debt with over $900 billion of it sitting as outstanding credit card balances. 

As a nation of debtors, it is important for all American to understand how to properly manage their finances in order to maintain financial stability or it will lead to financial strain and suffering.

Managing Personal Finances

Unfortunately, they don't offer classes in high school or college regarding personal finance management techniques. Many people are learning to manage their personal finances via a trial by fire. 

For many, by the time they learn the best techniques for managing their personal finances, they are already well in debt and are struggling financially. It is a shame because simple financial mistakes can end up destroying one's financial security. 

Managing personal finances is the process of finding the appropriate balance between one's income and what they want and need in their lives. Having a budget will let one live with a sense of freedom knowing that they will always be able to afford the things they need and within reason being able to buy the things they want. 

They will also have a good savings in the cases of “rainy days” and other types of emergencies.

Before you over-commit and find yourself fighting off creditors while watching your credit score take a dive, these seven easy tips for maintaining your personal finances might be enough to save the day.

1. Live within Your Means – When that new shiny car or when that new piece of technology comes out, many people jump at the urge to buy it whether they can truly afford it or not. The biggest mistake you can make is renting an apartment or buying a car you can't afford. If you consistently live within your means, financial difficulties will have trouble finding you. When in need of a loan, one can always leverage the equity of their home. It is important to become familiarized with Home Equity Loan Rates.

2. Prepare a Monthly Budget - At the beginning of each month, you should put together a comprehensive cash basis budget that reflects your anticipated income and how you intend to spend it. Having cash on hand is a great way to help you avoid using your credit card excessively.

3. Avoid Using Credit Cards - Credit cards should not be treated as an extension of your buying power and should be reserved for emergencies. The cash in your bank is what you can truly afford. This helps keep your credit card payments low and you out of debt.

4. Track Your Spending - The best way to find out if you are wasting money is to track all expenditures. Over time, it will become clear where cuts need to be made.

5. Use Coupons - Always be on the lookout for coupons online or through the mail. Features like discountrue coupon for sears.com can save you a lot of money over a year's time.

6. Purchase Insurance - Buying insurance feels like a waste of money all the way up to the time something happens and you need it. Then it's as good as gold.

7. Avoid Eating Out - On average, eating out costs 200%-300% more than fixing the same meal at home. Surely the time you will spend shopping and cooking is worth the effort considering the savings.

In the long run, it is incumbent on you to know how to manage your finances. The earlier you learn to be responsible with your money, the more likely you are to get to retirement financially secure. That's how you make the golden years special.

Common Rules You Should Follow in Your Saving Adventures

Knowing how to save money efficiently is one skill everyone should develop if they want to have financial stability. Starting the habit of saving money on a regular basis is not something that is easily done. 

To guide you, here are the common rules you should follow in your saving adventures:

1) Clip coupons. If you really want to save, then look for ways. An easy and simple way is to take advantage of those coupons you see on a lot of magazine and newspapers. These offer discounts and other promos that will surely stretch the purchasing power of your dollar.

Note down the promo duration on items you need. The amount saved from clipping coupons may seem small but a little definitely goes a long way when it comes to savings.

2) Go to sales! Some department stores have sales a lot of times a year. This is the best time to go and shop for some things you need, like a new pair of shoes or pants. Going to sales may sometimes be quite tiring because of the long lines both at the cashier’s counter and to the dressing rooms.

Yet, the few minutes of standing in line is all worth it if you pay less for something you really need, and maybe have more money to buy another item.

3) Change for the good. By change, we mean loose coins. Get a container to put in your loose coins at the end of the day. Coins left in your pocket should go into this container. It may be in the form of a jar or a piggy bank.

The idea here is to save even the littlest of amounts, which will later multiply and add up as savings. This is an easy and simple way to save without much effort, who knows by Christmas you might have a whole lot of coins to add to your Christmas budget.

4) Make a grocery list. Listing down what you really need is something that should be done by every household. A lot of people do not realize that by making a grocery list, you know what you need, as opposed to what you want. This will help you spend within your budget. 

By listing the items down, you know what you came there for and avoid any last minute trips to the grocery for things you forgot. This not only saves your money, but also saves money for gasoline or transportation costs as well.

5) Follow your budget, always. There is no sense in drafting a budget, only not to follow it in the end. This is what happens to those whose plans are only in paper, and are never put to action. Be true to your budget and in no time see your savings add up and make budgeting worth all the effort.

These are just some of the common rules that are followed by most people to save. It involves the correct mix of self-control and sacrifice for you to successfully pull it off. You can develop you own or tweak some of these rules to suit your lifestyle and be on your way to success in savings.

Irina is a finance advisor and professional blogger.She writes for http://martinbrook.co.uk website.

Are Coupons Really the Only Way to Improve Your Shopping Budget?

There are very few people round these days who are not in need of a few tricks to make their monthly food budget stretch a little further. Money is tight for most people and the cost of food seems to be on a never ending increase. This has led to the explosion of 'couponing' – the art of clipping discount coupons and special offers in order to reduce your spend – which has given rise to books, websites and even television shows explaining how best to approach couponing, but are coupons really the only way that you can improve your shopping budget? Let's compare a few of the alternatives. 

The Basic Problem With Couponing 

Couponing involves collecting discount coupons and offers in order to save money, but it is a time consuming process. While clipping coupons can be a great way to save money, it also comes with the danger of creating an obsession. A large number of coupon clippers report having feelings of anxiety when they miss out on a deal because the store has sold out or because the relevant coupon has expired. It can be a vicious cycle if you become trapped in it, so it makes sense to look for alternatives to couponing. I'm not saying give it up, just that you could supplement it with alternative options. 

Changing The Way You Shop 

One easy way to stretch that shopping budget without coupons is to adjust your shopping habits. If you switch to generic brands you can trim up to an average of up to 25% off of your shopping budget. There will always be some things that just don't taste good, but you can switch to generic brands on lots of things like pasta, sugar and so on. You can also save a great deal by making a grocery list and sticking to it rigidly. 

Saving Money With A Reward Card 

Another great alternative to couponing is to use reward cards. So long as you use your credit card with care it can be a great way to save some money. Look out for a reward card that offers cash back on grocery purchases, or anything that you will purchase regularly, like fuel. With these rewards you can earn back a small percentage of whatever you spend and if you pay of the bill in full at the end of the month you will not even have to pay interest. Just be sure to keep the money aside in your bank account to cover whatever you spend. 

Other reward cards will allow you to earn points rather than cash back. This allows you to save points up over time and trade them in for vouchers, gifts and other items. Vouchers can be used to cover grocery shopping, or you could trade your rewards in to get gifts for family birthdays thus saving some additional cash. 

Couponing is a good way to stretch your shopping budget, but as I have shown it is not the only way. These are just a few of the many alternatives that you could use instead of or alongside clipping coupons. 

Tim Baker is a writer who loves travelling around the world spending as little as possible using his avios credit card and by taking advantage of shopping and travel rewards.

Do You Have Coupon Etiquette ? - 5 Rules For Easy Coupon Shopping

Image via WikipediaAre you one of those out of control coupon clippers like those found on the TLC show "Extreme Couponing"? Recently many stores have changed or updated their coupon rules to clear up any questions of how the coupons are to be used. Our local supermarket has published a new use of coupon rules in each store because things have gotten out of hand. The problem is some shoppers are abusing the use of coupons and this may make it harder for the average couponer to shop.

If you are an avid coupon user there are a few simple rules to follow to make the whole experience a little less stressful for the cashier and the people in line behind you.

Rule #1. Don't clear off the shelves when you make purchases. It's bad form for you and keeps other shoppers from cashing in on the great deals. Also the store may not know the shelves are emptied out, so its better to only purchase a small amount. If you must make a large purchase either call ahead to the store so they can arrange to put aside enough items for your purchase and not have bare shelves. Also make your large purchase not just in one store, but spread it over a couple of stores.

Rule #2. Be organized at check out. When checking out have all your coupons organized and not just in a messy pile facing all different ways. It shows respect for the cashier and the people waiting in line behind you. Also make sure the coupons are not expired and that you are following the rules of the store in their use.

Rule #3. Try to plan your shopping at a slow time of the day. Holding up the line with coupon redemption at the peak shopping times shows bad form and is inconsiderate of other people. It irritates other customers when you are trying to use so many coupons, so go when you know its the slowest time of the day.

Rule #4. Be polite to the cashier and other customers. You may know more about coupons than the cashier but it's no excuse to be rude or impatient. Use your manners and stay calm if there is a problem. Ask to speak to the head cashier if extra help is needed. Also alert customers behind you that you have coupons and that there may be a delay. Let people behind you in line go ahead if they only have a couple of items.

Rule #5. Follow the rules. Know the rules of the store your shopping at. Don't be pushy with your coupons. If you are having a problem with the use of the coupon just skip that particular one. It's not worth arguing over something like that, it's better to not be known as the neighborhood coupon freak. It's better to build a friendship with the store and the cashiers that work there. Also make sure you have the correct item for that coupon and that the coupon is not expired.

Shopping with coupons will save you a lot of money. Following these few rules will make the experience pleasant for all.