This is a collaborative post sharing some information on sharing your finances wisely, that we hope is helpful. As always, consult a qualified accountant or financial advisor before making big financial life decisions.
Everyone dreams of having more money to play with. Well you can, there are ways you can make a little bit of extra money and increase your finances wisely. You need to think in the long term here for the best chances of success, thinking in the short term is not tenable whatsoever and it can lead you into some dodgy ventures where you lose your cash. Think long term, save up gradually and you will end up with the right amount of cash to do what you want with. Money flows, you just need to ensure it flows to you, not away from you. This can be done with relative ease if you are careful. You need to put the right amounts of research into each tip here and work out whether it is the right thing for you to do. If you do this then you are essentially hedging your bets in the right direction. Certain things may not be tenable, but if you build up the cash reserves it will be. The trick is in putting the money you save aside so that it builds up until you have something worthwhile to use or invest further. You may have even considered some of these tips, which is great, but check the other ones out and see if you can find something to help you increase your financial situation. Good luck!
Real estate is a great place to put your money. If you own a home then put any spare cash into it. This could be paying off more of the mortgage, or potentially doing work to the house that you know will increase its value, especially if you are planning to sell down the line. Putting money into real estate is a sure fire way to make more money. People make millions from it, fortunes. If you have had a recent windfall, or decent savings, consider buying a whole new property in itself. Making changes, then selling it on for a profit. These changes can be cosmetic, rewiring, down to full blown extensions. Property values just keep soaring all the time, so you need to put money into them as and when you can. Granted, it may not be the top of your priorities, but think of the benefits. You are increasing the home’s value, whilst also making it a better place to live for you and the family. This is something that requires a lot more money, but remember, you can do it in parts or start small.
Saving money is essentially making money, and a great way to do that is compare and switch up your utilities provider. If you have never done it you could be in for a huge treat. Otherwise, you could still save. Compare them, phone them, see what deal you can get and how you can make it cheaper. If you are swapping they will always try their best to entice you with great little offers. Take these while you can, especially just before winter when you are looking to use more gas on heating your home.
On the same note, you should also look at and consider your internet, TV and phone provider. They lure you in with great initial bundles, which often skyrocket after a year. Stay on top of this and switch every year. If you do this you will be able to make the most of the better deals and save a ton of money, which you can save up. There are many comparison sites out there that can help you and ensure you get a great deal. Give them a look over and see if you can get anything cheaper. Odds are you certainly can. The same is of car insurance and other monthly outgoings to providers. Try to always get the cheapest deal, this is often still done by switching provider on a yearly basis.
You can save a huge amount of money in the supermarkets by simply being strict with yourself and your spending. These places are literally designed to make you spend more money. That is why the essentials are spread out across the store, forcing you around it and in doing so letting you see more products that could catch your eye. You can beat this by making a list. Tick it off as you go around and don’t buy anything else. It sounds pedantic, but you would be surprised how many extra things you pick up. This could leave you with more money in the bank than you expect come the end of the month and it is certainly worth beating them in this way. You can also use coupons to do this. Get them online and use them. However, only use the ones for the products you would buy anyway, otherwise you will see yourself spending more money. Be wise and don’t fall for cheap tricks.
Credit cards are often seen as no go areas. However, if you are careful you can make the most of them and save money. Certain cards offer cash back on first purchases. As such, if you needed to buy something big and expensive, you could do this, save a certain percentage, sometimes as high as twenty percent, and then pay the credit card straight off. Saving you a decent bit of cash. Ensure you are in the position to pay the card right off otherwise you will end up taking a hit on your credit rating and having something else to have to pay off each month. Do your research and exploit the gaps that you do see, just be careful not to over stretch yourself or you could find yourself regretting it.
The money is there to be saved and made, you just need to use the right techniques to get it. Be careful, and ensure you use the saved money in investment or other kinds of ventures that will get you more money down the road. Discipline is the key. If you are tough on yourself you can make this plan work well and you can increase your finances wisely.