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3 Household Tips to Uncover Extra Money in Your Budget



It doesn’t matter how much you make or how much your bills are — everyone should be saving more. And everyone knows it.

But sometimes what you know you should do and what you actually do are two very different things.

The problem is, saving isn’t easy. If you’re finding it hard to put cash in the bank, look to your home for inspiration. Here are three ways it can help you find more money to save.


1. Become the host with the most

Anyone with a jam-packed social calendar can tell you it can be costly to have friends — especially if you only ever meet over tapas and wine, or apps and beer, at your favorite restaurant. Eating out, drinks, and other special events all add up — taking a big bite out of your budget.

To save some coin, invite your friends over to your place the next time you get together. The cost of entertaining your friends can be a fraction of your bill  at a bar.

Bring up the plan with your closest friends to explain why you’re inviting them over. They might jump on board with your plan and offer to host the next night in at their place. With the task of host constantly rotating, you’ll spend even less catching up with friends.

2. Repair old clothes

A missing button, a broken zipper, or an unraveling seam — they’re reason enough to toss an old shirt or pair of pants, right? Not if you’re thinking with your budget first. These minor issues have relatively simple repairs that anyone can perform with a bit of practice.


Go online to see mending tutorials for these common problems. In most cases, the materials you’ll need are inexpensive, so you won’t have to invest a fortune in this new hobby. And any money you spend will likely be worth it when you can save your clothes from the dumpster.

3. Create a financial corner

One of the best ways to save money is to make your finances a priority in your home. When you carve out a regular time to deal with your bills and investments, you’ll have a better grasp of your cash flow. Having a dedicated space where you can work on your finances will only make it easier to make this a habit you keep all year round.

It can be as elaborate or as simple as you want — just make sure it’s deliberate, and you only use the space for your finances. That means the corner of the kitchen counter or the TV dinner stand that you keep near the couch aren’t the greatest choices. 

Working desk

A desk in the corner of your living room, on the other hand, is. Whether you’re paying bills, researching alternatives to payday loans, comparing APRs of common credit cards, or doing your taxes — this is the place where you should do it all.

If you keep this area organized, it’ll be easier to find important bills, warranties, and other documents you need. Add a calendar where you mark important due dates, and you’ll have a better chance at staying on top of bill payments.

It will also help you stay focused on the task at hand. Without distractions, you’ll be able to take a deep dive into products or services you want to know more about — like direct lenders or IRAs. If you use your time wisely, you’ll find out why you would want to deal directly with your lender or what the exact contribution limits to your retirement account are for the current year. 

Creating a dedicated finance nook is a great way to save, but don’t stop here. Spend some time thinking about other ways you can find extra cash in your home. Once you get brainstorming, you might be surprised by how simple saving can be!

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How To Manage Your Money And Save Monthly?




Have you ever questioned- Why do we work? What is the necessity to always hustle and feel motivated to have a profession? The answer is simple:

  1. Survival 
  2. The human mind is programmed to be active. 
  3. Monetary gain and growth. 
  4. Professional success and satisfaction. 

But do we understand money? Money is an essential necessity to survive and navigate through the maze of life. Do we need money? Yes. Is it vital to only feel motivated to earn money and not have any other goals? Absolutely not!

Will Rogers aptly said that “Too many people spend money they earned..to buy things they don’t want..to impress people that they don’t like.” Let us not center our entire existence around money and forget to live a little just for ourselves and our loved ones. 

While earning money can keep you focussed and driven, that is not enough! It would be best if you were smart about managing your money and creating a savings portfolio. Your hard work, rewards, and determination will only keep you going if you continually save a particular percentage of your income and see it grow over the years, and reap your benefits once you retire. 

Must, read Basics of Making Your Money Work for You

How to manage your money better? Let us go through some basic methods:


Create a monthly expenditures list. It will cover all your recurring monthly costs and help you accurately understand where you are putting a part of your income. Budgeting will keep you in check and assist you in making practical choices. 

Referring to the budget

Making a monthly budget and then just let it languish in some corner is pure foolishness. Be smart and constantly refer to your account, update all the bills paid, make a note of any unpredicted expenses and work on keeping a clear accounts book. 

Keeping a tab on your expenditure

  • Keep your expenses in check. If you have paid all your bills and monthly spending is taken care of, you can allot some amount to fun-spending.
  • Be mindful and do not go overboard, and be a complete spendthrift.
  • Do not commit to any expenses you cannot afford and fall into an endless pit of over costs. 

Track your money

We all end up buying small commodities and making little expenses here and there. But what we fail to notice at times is that these tiny spendings end up making a big hole in your pocket! So start noting down all these expenditures in a journal and notes down these minuscule bills. You will be able to keep your lavishing in check and supervise your money. 

Limit the use of your credit card and save up for any massive purchases

The idea of making all your purchases and charging them to your credit card is tempting. Isn’t it? Not really! Having heaps of unpaid credit card bills and paying them each month for expenditures made on a whim is highly irresponsible. How are you going to maintain a balance of your finances? Limit your credit card use only to unavoidable emergencies and make it a thumb rule to plan, research, and save for any lavish spendings you wish to incur. 


Save! Save! Save! Practice saving your money regularly! We cannot stress enough the importance of wisely saving and investing your money. Create a savings account and a system via which a portion of your income automatically gets deposited into it. Also, take competent financial advice if you are not confident about making investments and start a portfolio that will show you benefits in the future. 


Having superior mathematical skills is not a need to manage money. To protect you from living paycheck to paycheck and just making ends meet, you have to learn to be wise about investing and diversifying your income monthly. 

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How to Brilliantly Create an Effective Financial Plan





Getting a good financial advisor is like hiring a nutritionist. They both act as a coach or guide – encouraging and pointing the right direction for you to follow. However, some people find this direction invaluable and unnecessary. 

As far as your financial management is concerned, the cash you spend to hire an advisor can be used in other investments. Creating effective financial plans without help depends on whether you can make responsible and shrewd decisions or not. Therefore, if you want to be a solo financial planner, here are some of the quick rundowns to contemplate:

1. Start Saving

Saving means that you need to re-examine your income and expenses. You may start saving with these two ways:

Increasing Income

You can save extra cash by changing careers, asking your boss to raise your salary, or having another side hustle. 

Cutting Expenses

If you are splurging on vacations, food, or entertainment, it would be brilliant to come up with ways of saving money. As you keep balance, know that your goal is solely based on controlling your expenditures, and not to eliminate all your fun activities. 

2. Invest Wisely

If you want to be financially independent, you need to start building your wealth. Though, before making an investment, make sure you have well-defined plans. For example, think of when you will need to access your cash and types of investments. 

Owning and investing in real estate is a good investment strategy, which is both lucrative and satisfying. Unlike bond and stock owners, real estate investors may use leverage to purchase properties by making an upfront payment, and later pay the balance and interest. 

Both advisors and real estate agents such as those from Movoto agree that financial plans depend on personal attributes. Some of these personal attributes include:

  • Confidence
  • Decision making
  • Perseverance
  • Pro-active

3. Check Your Credit Score and History

Good credit history is important for getting credit card options and interest rates. You need to constantly check your credit history and score with one of the reputable credit agencies. Remember also to countercheck whether there are discrepancies that exist between your credit reports and records. In case you notice any error, ensure you dispute and present them to a trustworthy reporting agency.

4. Create a Portfolio for Your Financial Plan

Having a balance sheet is the start of establishing your financial goals and portfolio. Therefore, before you create a good portfolio, you need to make two types of lists; a list of things you own and a list of your debts. The list of the things you own can include mutual funds, bank accounts, cash, stocks, bonds, and cars. On the other hand, a list of your debts should include credit card balance and loan debt. 

5. Track Your Expenditures

Tracking your expenditures is the step of keeping and monitoring your expenses and income. It can help you to note down your bad habits of spending money and make the necessary adjustments. Some people track their expenses through a budgeting app or spreadsheet, while others opt for hand-written expense trackers. Other tools that you can use to track your expenses include:

  • Account statements
  • Paper and pencil
  • Envelope system
track expenditure

6. Set Goals

Building your wealth can be simple, but it may require more effort and time. Some people aim at having financial stability and their own homes. Financial objectives like these are referred to as long-term goals. This is because it may take a lot of time to achieve. However, there are other modest and smaller financial goals. For instance, you may have the plans of clearing credit card debts or overdrafts to save money to go for a vacation in summer. These financial goals are short-term plans since you can achieve them in two months or less. 

Hence, it’s imperative to set a fiscal goal because you will be confident and focused on writing a roadmap of achieving your plan of having financial freedom. 

7. Get an Insurance Coverage

Insurance is a back-up plan, which will offer protection to your assets or investments. Being ready for unexpected will ascertain that you reach your objectives regardless of financial problems. Good insurance coverage ensures you don’t empty the funds that you have reserved for emergency purposes. It may also cover your family in case you are disabled or injured. 

Though, there are circumstances that the coverage can be expensive, so you need to buy the correct insurance depending on your financial stability. Among the insurance coverage that you can get, include:

  • Health insurance
  • Life insurance
  • Home insurance
  • Car insurance

Financial Planning – the Bottom Line

Financial planning reduces monetary constraints by establishing a foundation for long-term goals, such as retirement. It also focuses on making roadmaps for people who want to be financially independent in the future. Therefore, if you want to make a good plan, consider some of these ways, if not all, of them.

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5 Steps to Developing Good Financial Health



5 Steps to Developing Good Financial Health

Financial health is the state of one’s personal financial situation. Financial health consists of many aspects, including the amount of savings you have, how much you’re putting away for retirement, and how much of your income you are spending on fixed or non-discretionary expenses.

Fixed or non-discretionary spending is spending that is required by a budget, contract, or other commitment – which is always going to be there.

Having financial security is important for living without stress and also helps us stay prepared for any unexpected emergency that crops up. Because we are never taught about how to improve our financial situations and what good financial habits to adopt, many people get scared by the very prospect of doing anything.

You need not worry because developing good financial habits is the same as developing any other good habit in your life. 

  • You have to identify the problem areas.
  • Be observing and analytical of your decisions.
  • Deduce the issues you need to work on.
  • Work with determination to bring about the changes. 

Here are some habits you can adopt that will help you improve your financial health and also bring financial stability to your life.

1. Watch Your Spending

5 Steps to Developing Good Financial Health

Once you have an incoming flow, controlling your outgoing flow becomes necessary. Things going out faster than they can come in means the resource is going to dry out.

So, if you want to be financially secure, you have to start out by watching how you spend your money and where you spend your money. Knowing the pattern of expenses is going to help you put in a realistic plan, which we will be talking about in the next section.

You shouldn’t be spending more than you earn – this should be a no-brainer, but people often tend to forget this. There are a plethora of reasons for this to happen – from lifestyle choices to unhealthy habits.

“Before you spend, earn. Before you invest, investigate. … Before you retire, save.”

– William A. Ward

The ease of spending options is a major drawback in this consumerist environment. Credit cards and the option of loans make it far more convenient for people who would otherwise not have enough to spend, to keep spending beyond their means. We get into a habit of spending more. Does that sound wise when you think of the long run? 

To be financially secure, you should assign a certain amount each month for spending. Try to stick to the budget, unless an emergency comes up, your budget should be able to help you. Remember to be careful – not to go over that budget unless it is absolutely necessary.

2. Set a Realistic Monthly Budget

5 Steps to Developing Good Financial Health

Setting a realistic monthly budget needs you to know a few things:

  • Your incoming cash flows.
  • Your non-discretionary spending.
  • Your spending pattern.
  • Your money goals.

It is very important to learn to spend less than you earn, as we have already talked about. Most people fall into a pattern of debts, thanks to more and more options to get more debt, when they do not know how to live within their means. 

One thing you have to remember is that your lifestyle shouldn’t be burning a hole in your pocket; if anything, your earning should be cushioning your lifestyle.

“There is a gigantic difference between earning a great deal of money and being rich.”

– Marlene Dietrich

A realistic monthly budget takes into account not only what you bring in, but also your spending habits. When you have all the facts and numbers laid out, you can make a realistic plan to curb the excess. 

Making a budget and living by it doesn’t mean not spending at all; this is where people are wrong about creating a budget. Having a set budget just makes your spending habits smart and stops you from overspending.

“You don’t have to be a miser, just be wiser with your money.”

– Dorethia Conner Kelly

3. Open a Savings Account

5 Steps to Developing Good Financial Health

We all have a bank account, right? It has become the need of the hour. With more and more digitization of payments, it is hard not to have an account. When you have just one account, it can get a little difficult to save money.

“Don’t tell me where your priorities are. Show me where you spend your money and I’ll tell you what they are.”

– James W. Frick

Having only one account to manage every financial aspect of your life might work just fine, but it is not a smart decision to make. Having all your money in one place makes it easier for you to spend it. Even if you make a budget and decide you do not have enough money to spend on things that can wait. Having access to all that money can make you slip.

  • Make another account just to save money.
  • Transfer money from your regular bank account over to a savings account.
  • Do not use this account to make payments.

This way, you will be less likely to use all of your money. The more money you put aside in your savings account, the better prepared you will be down the road when unexpected expenses pop up.

4. Pay Off Debt

5 Steps to Developing Good Financial Health

We have talked about not falling into the habit of living on debt, but some debts are important and need of the hour. Your student loan, house loan, etc. are significantly important expenses. 

It is okay to take loans for big things, but paying it off should become your priority. Making minimum monthly payments on your credit card takes a significant amount of time and a lot of determination. You need to begin by focusing on putting as much money as you can afford each month toward paying off your debt. This is also why a savings account can be of help if you do not trust yourself to save up enough.

“The man who never has money enough to pay his debts has too much of something else.”

– James Lendall Basford

Living debt-free may seem like an impossible dream, especially as soon as you get out of college with a student loan hanging over your head, but it is achievable if you are willing to work hard enough. 

If you can double or even triple your minimum payments, you will be able to pay off debt much more quickly. This will also make it possible to have more money to put into savings each month.

5.  Improve Your Credit Score

Talking about large payments, your credit is what enables you to make large and expensive purchases such as houses and vehicles. When doing so, your credit score is one of the important deciding factors. 

“If you don’t take good care of your credit, then your credit won’t take good care of you.”

– Tyler Gregory

  • If your credit history is poor or limited, you will not qualify for great loan types or interest rates, making it difficult to buy the things you need or want. 
  • When you have a higher credit score, you qualify for better rates and loans, so you end up paying less interest – meaning the burden is less on you. 
  • Raising your credit score takes time, but it is well worth it in the long run.

Final Thoughts

Improving your financial health is based on adopting good financial habits. While you can invest in a variety of channels and learn all there is to grow money – if you don’t know the basics of saving, then you will anyway be struggling.

“Many folks think they aren’t good at earning money, when what they don’t know is how to use it.”

– Frank A. Clark

Start small – Begin by managing your income and expenditure. Learn to make the most you have before you start to multiply what you have.

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