How to Save more Money?

by

31 October 2018

Finance

Save Money

In every person’s life, there is a time when we start to set different decisions for ourselves. Someone is probably thinking about quitting smoking, someone else starts commuting to work by bike and somebody wants to find more time for the family. If you don’t really know what to do, I strongly encourage you to save money. Each of us likes to be aware of the amount of money in our bank account, wallet or just likes to look at the savings we have accumulated. I know that it’s easy to say and much harder to implement, so I’ve prepared some useful tips for you on how to save more money every day.

For starters, you can go shopping only with a list of what you really need to buy, it will protect you against spontaneous and ill-considered purchases of products you don’t even need in the first place. Remember that it’s essential to have a strong will and to stick to the plan.

Eco-driving:

If you’ve got a car, economical driving is a great way to save fuel. Keeping your RPMs low and not stopping quickly at the last moment but rather slowly rolling towards the red lights can save you a lot of fuel.

Verification of the bank costs of our account:

it is worth checking from time to time whether it’s not too expensive to have a personal account in your bank by chance. In times of fierce competition on the market between the best national banks, there is no problem with finding a better offer.

Less TV, more movement:

Instead of wasting time on the couch, it is better to move, even if you walk. Your weight will drop, your mood will improve, and your wallet will become a little thicker.

Planning:

Planning everything that can be scheduled is an easy matter for the perfectionists. They love to have everything arranged and prepared as early as possible. Planning avoids sudden and massive expenses. A simple example: a school layette. It has always been known that the school year begins on 1 September, so there is no problem to start saving money to buy books or utensils a few months in advance. It is also possible to plan holidays well in advance, a large amount of time will help us to save money.

Bills:

Negotiating with utility providers, current bills consume a large part of every family’s budget, so I see no reason not to try to reduce them. It is worth checking whether it is worth changing electricity supplier. I also encourage you to regularly check the offers of mobile phone operators or Internet providers. If it is cheaper somewhere, it is worth trying to negotiate better conditions with the current company.

Motivation:

Mobilizing yourself to make savings without a goal is, in my opinion, a little pointless. That is why I think it is worthwhile to find the motivation to save. It can be a dream trip, buying a new car or securing your child’s future. Knowing what you are saving for makes it easier to get down to business.

The internet:

Learning foreign languages over the Internet, there is no cheaper option, and with a little bit of self-denial, you can achieve great results.

Car-sharing:

Carpooling, a.k.a. joint commuting to work, school or university and all other places you just have to get to. Just ask your co-workers or your neighbors. Many carpooling services unite the interests of people and you can make new friendships this way! Do not forget that it’s a very environmentally friendly – look at the other cars when you commute to work. They have at least 4  seats and most of the time only 1 person is in the car. Just imagine how many cars would disappear from the roads if four people wherein one car instead of one person in each car. This is just a waste of gasoline.

Many people are still afraid of credit cards, but using best credit cards wisely saves a lot of money, not just on Moneybookers.

Food:

No more wasted food! Statistically, the family throws away food worth 20 euros every month. It is hard to imagine a greater waste. So it’s better to buy less and possibly buy the missing products later than to push the fridge and then throw away the overdue food.

Shopping:

As we know, there are many examples of smart and rational shopping. For example buying winter tires in the summer or Christmas presents… just after Christmas.

Be your own dentist:

Taking care of your teeth, we can guess that it is always much cheaper to spend a couple of dollars on a toothpick and a toothpaste than waste hundreds and possibly thousands of dollars on treating them.

Healthy diet instead of supplements:

Europe is the leader in the field of buying all kinds of medicines and pharmaceuticals. We spend vast amounts of money on it and it’s just a waste of money. Why buy a vitamin C supplement if you can, for example, drink fresh juices or eat fruit? It goes out cheaper, and certainly tastier and healthier.

Looking through your wardrobe:

Going shopping for clothes only to have fun with your friends is a very simple way to waste tremedous amounts of money. If you think you need new clothes, it’s a good idea to review your wardrobe first and assess whether something is missing in it. It can be an opportunity to get rid of damaged or too small things.

Subscribing to newsletters, I am myself registered for newsletters of several shops with computer components and regularly get codes for discounts of 10% or 20% each.

For post-season holidays, it is better to plan your holidays in June or September, for example. Prices of trips and hotels are much lower then than in July and August, and in many countries, the weather is still guaranteed to be at least good.

Moneybox – an old but still effective way to save money. I have it myself and for years I have been throwing little things into it, which are in my wallet. This way, without any effort, I can raise a lot of money that otherwise would go to waste.

Currency exchanges at internet exchange offices are much cheaper than permanent ones, not to mention banks.

I am of the opinion that a lot of work in your home can be done by yourself. For example, painting walls, grouting, or installing panels.

Making sandwiches to work is sometimes a nuisance, but it pays off. A healthy lunch will satisfy hunger better than an expensive snack from a scrubbing machine or fast food restaurant.

Buying second-hand items:

I’m not only talking about clothes, but also computer games and electronic equipment. A great way to save a lot of money is to buy a new car, which officially is no longer new. Showroom cars or the ones that served as a test modelsare almost in a perfect conditionjust like the new ones, but 20-30% cheaper.

Drinking water instead of carbonated drinks is not only much cheaper, but it is also incomparably healthier. If you want to save on buying water, consider installing a reverse osmosis filter in your home.

Selling unnecessary items – something to us is just rubbish, but it may be useful to someone else – to such an extent that they will be ready to pay for it.

As we can see to save you don’t need to do amazing things, it is enough to focus on simple activities that we do every day and think about what to do to save on it. Above I presented a few methods of saving more money, but each of us can conclude what level of his monthly revenues he wants to keep and what goals he assumes to save his money. Wouldn’t it be worth to just start and try an check for yourself which method works for you? Let’s start today and not tomorrow.

Read Also:

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

Bitcoin

Does Bitcoin Harm the Environment?

One of the biggest concerns surrounding cryptocurrency, in general, is the impact that they have on the environment. In a world that is already struggling to catch up with the expectations that previous generations set, how much of an impact does Bitcoin make in the long term? Bitcoin Mining and Energy Bitcoin mining involves using a high-powered computer to solve a huge amount of cryptographic puzzles and problems, awarding bitcoins to the miner who operates that computer. This is a core part of how Bitcoin works and is also used to keep the blockchain behind it functioning. However, since computers need to become stronger and stronger to satisfy these requirements, they also need more power. Dedicated ‘rigs’ have been built that are focused on nothing but mining bitcoin, which consumes even more power at a faster rate. Over the last two years, Bitcoin mining caused an extreme spike in emissions, producing more than some countries would in the same length of time. While this is not an acceptable level, it also is not impossible to fix, and many people are already working on solutions. Renewable Energy Bitcoin mining has already begun to switch to renewable energy, with around 40% already having changed over. This does not sound like much, but it means that 40% of Bitcoin miners are using energy that is not going to pump CO2 into the atmosphere. This switch has helped a lot, but there is still more progress to be made. Until a massive proportion of Bitcoin mining is done with renewable energy, it will keep contributing to pollution and climate change. Elon Musk and Bitcoin While many people associated Elon Musk with Bitcoin, part of his reason for distancing Tesla from the currency was the Bitcoin environmental impact. Bitcoin had begun to create so much pollution that Musk actively suspended purchases using it, moving on to other cryptocurrencies instead. Considering that this came only a few weeks after he had announced buying almost $2 billion of Bitcoin, it was a surprising change, but one that made sense. However, Tesla has been open about the fact that they will return to using Bitcoin once it is more sustainable. The Future of Bitcoin Many people who are new to crypto often assume that Bitcoin means 'cryptocurrency,' even though there are plenty of other crypto options out there. This has led a lot of people to assume that every kind of crypto is just as risky, even though some are purpose-made to use sustainable options. This even includes Bitcoin itself, in some cases. The president of El Salvador tweeted about the state-owned geothermal power company using volcanos to create clean mining energy shortly after accepting it as a legal tender. This is meant to help keep Bitcoin circulating without those downsides. Bitcoin is not going away any time soon, but it will not return to the same level of popularity until it is cleaned up a bit. However, this also means that the price is lower now – people who are adopting sustainable mining options ahead of time will have plenty of Bitcoin before the next big spike. Read Also: Everything You Must Know About Bitcoin Circuit: Legal or Scam The Profit Revolution: The Best Bitcoin Trading And Investing Platform Investing In Bitcoins: 5 Things You Need To Know

READ MOREDetails
How Bitcoin Development Is Evolving

How Bitcoin Development Is Evolving?

Today, Bitcoin has become the buzzword in the Crypto trading world. It is one of the evolving Cryptocurrency that one must know about. However, these changes might affect the short-term movement of the price structure of any country’s economy. In most cases, the Bitcoin long-term proposition is affecting the interest of the Crypto-traders. Therefore, it will help you to understand facts before you can achieve your objectives. Now, many investors are responding well to buying Bitcoin. As a result, the market trend is rising higher as you are trading in Bitcoin. However, you need to understand several aspects of Bitcoin trading before entering the Bitcoin market. Reasons For Bitcoin Evolution In 2021-2022 Investors are now feeling confident in the Bitcoin investment. It is one of the essential facts that one must consider. Let’s explore the facts one after the other.    1. Continuous Evolution   The new theory of the Bitcoin evolution has installed the confidence among the investors to invest their money in Bitcoin. The Bitcoin code is evolving at a faster pace, and so the security features of Bitcoin are also advancing.   It is why investors are now more confident in investing their money in Bitcoin and in other Cryptocurrency. Similarly, almost like Bitcoin, the ethereum code is also evolving faster, making it an automatic choice for investors to invest in this Cryptocurrency. 2. Incentives Matters The Most Developers of Cryptocurrency are now making the code of Bitcoin much more complex to increase its security. They are paid for what they are built-in. It is one of the most effective Crypto trading currencies that can work well in your favor.  It is one of the essential things that determines the fact of what the developers are paying for. Moreover, it is the most effective Cryptocurrencies traded worldwide due to the up-gradation of its advanced features. 3. Bitcoin Safety Features When Bitcoin was first introduced in the market from one source, all the funding was derived. After that, many funders from several companies have started to invest their money in Bitcoin. It makes this currency worth remembering that dedicated blockchain technology was introduced to improve safety features. Now, many financial institutions and banks are coming forward to invest their money in Bitcoin. This is why Bitcoin is evolving at a faster pace compared to other Crypto-currencies. 4. Next Level Of Upgradation Recently one news is trending in the market regarding Bitcoin; it is known as the Taproot Upgrade. It will enhance the network smart contract functionality and increased the chances of Bitcoin trading in the global market. It is one of the prime reasons why the up-gradation of Cryptocurrency sounds to be very important. It is one of the best Crypto assets that can work well in your favor. In other words, Bitcoin is one of the best Cryptocurrency that is available in the market right now. 5. Looking Ahead Developers and the miners of Bitcoin are working hard to make it an acceptable global currency like fiat currency. It is evolving continuously to make it an automatic choice for the Banks and other financial institutions to use it as their prime currencies.   In the years to come, we can witness more evolution of Bitcoin. It is one of the costliest Crypto Assets today traded all around the world right now. Therefore, you will have the option to invest your money in this Cryptocurrency to increase your chances to enhance the scope of Crypto-trading. Read More: The Most Critical Year For Bitcoin And Other Cryptocurrencies? The Profit Revolution: The Best Bitcoin Trading And Investing Platform

READ MOREDetails
Law Firm Finance

A Comprehensive Guide to Law Firm Finance in 2021

Have you been practicing law for a while? Today, many lawyers are stepping into the entrepreneurship world to open their law firms. Indeed, practicing under experienced lawyers gives a lot of exposure but having autonomy at work is equally vital. You can choose clients and legal cases of your choice and practice in a particular area. Likewise, you can enjoy flexibility and freedom, make decisions, and set your priorities. However, most lawyers don’t understand that starting a law firm is more than practicing law. Apart from legal responsibilities, you have to recruit people, market the law firm, and most importantly, manage finances. You have to document a long-term financial strategy to stay on top of your daily budget and earn profits. At the same time, you have to manage taxes, acquire funding, handle invoices, and much more. To help you get started, here is a comprehensive guide to law firm finance in 2021. 1. Create a Long-Term Financial Strategy: As a law firm owner, you have to establish a vision for the firm’s future. Do you picture a multi-lawyer firm handing corporate clients? Or you want to step into litigation or criminal law? Having a clear idea of long-term goals will help in creating a well-defined financial strategy. You can start putting funds aside for expansion from the beginning. Likewise, you have to keep up with numbers, forecasts, and budgets to manage the day-to-day cash flow. You have to ensure the business has enough funds to secure new clients and take cases to trial. After all, not every case settles. However, if you don’t have a knack for numbers, consider learning the ropes. You can look for virtual programs such as MSF online to avoid the hassle of traveling to college. After all, online education gives students a lot of flexibility, motivating them to keep learning. As for your law firm, it will help in managing finances efficiently while practicing law. 2. Get Access to Funding: Although you are stepping into a service business, you will need a hefty amount of capital and cash to start a law firm. From office rentals, conference rooms, stationary costs to staffing – you will come across a long list of expenses. Therefore, look for ways to obtain capital for your law firm. Here are some of the options you can explore. Savings: Whenever starting a business, make sure a small chunk of the capital comes from personal savings. That way, you will keep working in the game because you won’t be liable to another person when things get tough. Bank Loan: You can start with a few thousand dollars, but more capital gives lawyers enough runway to make the business profitable. Hence, if your savings don’t seem sufficient, opt for a bank loan or open a credit line to raise capital. Startup Incubators: Today, many incubators connect new business owners with funding to get going. Often, they use their contacts with angel investors to fund new businesses or seek help from venture capitalists. 3. Manage Taxes: Most attorneys operating law firms aren’t aware of legal obligations. As a result, taxes hit them in surprising ways. You might get a call from Internal Revenue System (IRS) or a hefty fine for missing the deadline. Similarly, many lawyers have difficulty categorizing deductibles. You might think everything is deductible, whereas your tax liability is higher than you predicted. These pitfalls not only halt business operations but are super pricey too. Hence, consider bringing an experienced tax specialist on board. However, if you don’t have a budget for additional hiring, learn about the taxation policies yourself. It doesn’t mean you have to go back to school; instead, look for online programs. You can opt for an online LLM tax program and learn from the comfort of your home and office. It will help you plan for tax liability, closing doors for IRS audit, and incorrect tax deductions. 4. Streamline Invoicing & Payment System: Usually, lawyers have different payment policies. When dealing with corporate clients, they charge a monthly fee and have separate legal charges for cases. On the other hand, they don’t charge when fighting for accident victims until the negligent party’s proven guilty. Despite having different payment policies, you must have an appropriate invoicing and payment system at the firm. You can leverage savvy software to automate the firm’s finances. Moreover, record your income correctly. If you charge a retainer fee, treat it as an advance payment and track its spending on every case. Similarly, avoid recording any income in your financials until you have won the case. It will give you a realistic view of the firm’s financial position, making sure you are on the right track. Besides this, don’t forget to set flexible billing terms with the clients and discuss everything upfront to avoid issues later. 5. Prepare Budgets, Reports, & KPIs: Having a budget is imperative for your law firm’s financial success. You have to estimate your expenses and the revenue you expect to earn. It will give you a solid idea of how much you should work to make the business profitable. Likewise, you have to prepare financials to catch a glimpse of profitability. Well, to begin effective financial reporting, you have to start with the bookkeeping basics. You have to record all financial transactions and maintain a separate account for every client. After this, you can prepare an income statement and balance sheet to determine the law firm’s equity. Also, create a cash flow statement to understand how much cash goes out and comes into the business. All these financials will be a brilliant source of insights about your law firm. You can spot trends, overcome weaknesses, and capitalize on your strengths to make the business more profitable. Final Thoughts: Every successful law firm considers numbers and data first. You have to create an excellent financial plan with a growth vision to make your law firm successful. Similarly, you have to manage cash flow, follow a detailed billing process, and raise sufficient capital. As you progress forward, a strong financial position will unfold new growth opportunities. You can tap into new practice areas, offer more services, and expand your team. Read Also: How To Choose A Practice Management Software For Your Law Firm How Do Law Firms Help Companies with Their Real Estate Issues?

READ MOREDetails