Save money challenge? How is that? Another year starts and as per usual, most of us start it with a big hole in our wallets due to the various celebrations, holiday trips, gifts, dinners, gatherings and whatnot that fills the month of December.
This is of course wonderful news for some sectors and industries as they bet on this month to regain lost earnings due to lockdowns and restrictions. But the feeling of starting another year with a financial hangover is the last of hangovers anyone wishes to have.
This is why we would like to embrace this new year with this save money challenge with new practices and new challenges to get a better grip on our finances so we can all save up a little more for rainy days, exploring the world, or blowing it on the next holidays!
Start saving NOW
There are of course a myriad of challenges, some require your dedication and commitment without anyone following up on our progress. Others can be done without too much thought, and it is no secret that a lot of us prefer easy options.
But luckily for us in the modern-day age we can now do the more serious and beneficial challenges and keep a personal score as well as a reminder on our phones.
There are apps that have been created for the sole purpose of helping you save money for the future to come. Some even as financial trainers give you daily training.
For example, Mint is one of the best spending trackers and probably the best-known personal finance tool around the globe. Mint is not only great because of its offers, but also because it’s FREE.
It supports a wide range of banks and lenders, and it comes from one of the largest and most trusted names in financial software, Intuit. With Mint, you will be able to get help with budgeting, expense tracking, credit monitoring, and bills.
Invest in Crypto
Cryptocurrencies are still on everyone’s lips in this brand new 2022. Many investors are looking for new investment alternatives and one of the most interesting is, precisely, investing in cryptocurrencies.
A short definition of cryptocurrency: It is a digital currency, not a physical one, that uses cryptography to secure and manage transactions, as well as to create new currencies. That’s why we believe they are the future of making money online and we embrace everyone to create an account on eToro and start not online saving money but also making more!
eToro is a trading app that has both manual trading and social trading features. It operates completely transparently, displaying each client’s relevant data, such as gain percentage, risk score and portfolio composition.
For manual traders, eToro provides a selection of stocks, currencies, commodities, cryptocurrencies, ETFs and indices through its own innovative trading platform. The tools and analyses on eToro are pretty professionals as help traders to track and invest in a variety of financial instruments.
That’s why we think is such a great app for this saving money challenge and it will definitely help you to make an income from your savings. If you don’t have much idea about crypto and want to know more, we suggest to visit the website Everydaycryptonews as it has many different articles and tips for crypto.
How spend less money and save more
Apart from having an app that tracks your money and investments in crypto, there are also some tips for saving money that you can start doing right now. If you think about the differences between rich and poor people is that rich people know where to invest the money and also where to cut the expenses.
Some of the tips that will help you to save money:
- Keep an small aumunt every month, doesn’t matter how much it is, just keep apart and DON’T TOUCH IT, unless it’s an emergency of course 😉
- The rule of 50/20/30, This system is as simple as creating a budget in which we will divide the month’s money into three categories. Thus, we will put 50% of the money for basic expenses, 20% will go to savings and the remaining 30% for personal expenses.
- Rule of the envelopes, this tip is pretty old but stills working as good as always, you make an envelope for each expense you have and put the money you want to spend in the month and thus you adjust to a budget and you can clearly see if there are necessary expenses that you can eliminate.
- Set (and meet) savings goals you can stick to, be honest to yourself and stick to those goals to the end.
We hope we helped with these tricks and you are able to save some money for this future year. By the way, if you follow our social media and you’re able to make this challenge and prove cutting expenses, you will get free tips on how to multiply your income!
