lesson2rule1:“A budget is a plan for your future income and expenditures that you can use as a guideline for spending and saving. Although many Americans already use a budget to plan their spending,…
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Checkout 51 part 2
Ages ago I mentioned an app called checkout 51. It’s a savings app that gives you money when you take a picture of a receipt with active products on it. These products change from week to week. Now, I’ve looked at a bunch of these apps, but I actually use checkout 51 and I just received a 35$ cheque from doing so. This is a pretty poor description of the app, but google it with my full approval!
6 Easy Ways to Build a Savings Account in College
6 Easy Ways to Build a Savings Account in College
Saving money in college is about a lot more than just cutting coupons for school supplies. Not only should you work on reducing your expenses, but you should also work on putting money away for the future. Whether this becomes a rainy day fund or the start to a down payment on a house, you will be happy you worked hard to save money.
External imageHere are six easy ways to build a savings account in college.
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Blogger Grace Boyle of Small Hands, Big Ideas discusses the dangers of spending too much early on in life and how to successfully manage your money.
I experienced this. I had just graduated college, I was in a new place, and I felt so sophisticated and mature.
I had a regular paycheck, a salary, a 401k, and consistent benefits. I was 22, and I thought I was set.
I see it all the time - just because we have all of the above, we forget the thrifty, frugal nature of how we were in college or when we were younger. I think it’s one of the biggest mistakes you make in your 20s. We tend to overestimate how far our paychecks can take us and blow too much on apartments, trips, clothing, and wining and dining. We then assume we aren’t making enough or that we are somehow poor again.
All of a sudden, we assume we’re making nothing. We can’t understand how it’s close to $0 in our bank account at the end of each month. We’re complaining and lamenting.
Just because you’re making more than you did before or you’re just making money consistently period, doesn’t mean you can splurge all the time.
Financial experts suggest it’s OK to keep living like a college student for a few more years. That sounds bad; I’m talking about living a little below your means. In doing so, you can get a better handle on what you’re able to afford, your level of debt, and create a budget for yourself so you can build up your savings.
Wait, what about saving?
“No matter how much or how little you make, always save a little bit.”
Start somewhere. Put aside something each month. For instance, I have an automated amount go into my savings account each month (from my checking account), and after a while, I stopped noticing that the amount was being dispersed and now I have a nice chunk of change in my savings … slowly but surely.
*Note: If you put $4,000 a year into retirement accounts starting at 22, you could have $1 million by age 62 (assuming eight percent average annual returns).
Your Dollar Is Worth How Much?
I love thinking about how our money is worth more now invested than it will ever be. Let’s say you invest $1 when you’re 20, it will be 1.75 times more than $1 invested; when you’re 30, 3.5 times more than $1 invested, and so forth.
Living below your means doesn’t sound sexy. But by doing so, you will be able to live well above your means in the future. But really - “20-somethings are more than twice as likely as older folks to have a negative net worth; one out of four families headed by people aged 20 to 29 owed more than they owned.” Let’s step away from deprivation but understand what we can cut out and the balance we can obtain to reach financial stability and/or freedom.
Negative net worth and debt aren’t sexy either. So why not go the other way and be a little more frugal? Save where you can and still enjoy - because both are definitely possible.
heartsarenotjudged asked:
Do you or the lovely ladies from TFD have tips for how to figure out where/what kind of savings account you should open? I have one that's linked to my checking account, but that's a disaster. I'm trying to do some research to open an account that I can't take from so easily, but there's just a LOT out there... Help??
learnhowtoadult answered:
This isn’t an endorsement, but I personally use Ally. They’ve got (comparatively speaking) good rates, and the customer service is top-notch.
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You do not need to spend a fortune to travel. Nowadays, you can go almost anywhere you want on a limited budget. Let’s have a look at some websites which will help you reach your dream destination even if you don’t have a million in the bank. Spice up your travel experience and make your life much easier. I wish I knew of them before I traveled abroad for the first time.
Couchsurfing
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Couchsurfing is a network for passionate travelers and hosts who want to meet up with people from around the globe and share their experience and culture. If you want to save money on accommodation and meet a local, Couchsurfing might be the website for you. Sign up and start searching for hosts offering free couches. You can find travel buddies or locals to hang out with. A friend of mine met her husband through Couchsurfing. Seriously. Are you little hesitant to sleep at places of unknown people? Do not be. Everyone who is serious has filed out a profile and provides references. The community of couchsurfers organizes events from time to time. Check if there are some going on in your city and join them. You will meet interesting people and learn how couchsurfing works.
HitchWiki
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If you are an adventurer, you might like to try hitchhiking. HitchWiki is a collaborative website made by hitchhikers all around the globe sharing their knowledge from the road. Since this is not the safest way to travel, you better read some stories from experienced people. You will learn how to increase your chances of getting a ride, how to stay safe, how to create a hitchhiking sign and what the status of hitchhiking is in particular countries. If you have any questions, join the discussion group and ask more experienced hitchhikers for their advice.
Momondo
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Need an airline ticket? Try out momondo. First of all, you get great deals. But if you just feel like traveling and you do not know where, momondo will solve can decide for you. Set up your money limit, airport you are flying from and get a list of all the places you can fly to within your budget. When you click on the city you are interested in, momondo will provide general info about the place, weather info, hotel deals, and ideas for your additional travel from your selected place. To save you some cash, you will also get advice about the best time to buy a ticket.
Staydu
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No hotel in the world will give you the same experience as staying with a local. Staydu is a network for budget travelers, who need a place to stay, and hosts, who like to meet new people from different countries. You can get accommodation from the host for free, a small fee or for some help you may be able to offer the host. If you need a travel buddy, sign up and share your plans. There is a chance you will meet one. The only disadvantage is pretty is the low member base compared to stronger websites like Couchsurfing.
Last Minute
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Sometimes you just wake up and you know it is time to do something different. If you belong to this group of spontaneous people, you might like to dig into last minute deals and start your journey immediately. On Lastminute.com, you can find offers for last minute airline tickets, train tickets, attractions and hotels all in one database. Deals on spas, theaters, restaurants and entertainment are available in the UK, USA and some western European countries. Next time you have an idea to go somewhere, first check the last minute deals.
Stay.com
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Choose a city and create your own guide. Stay.com has around 100 destinations listed where you can create your personal itinerary. Select the place and pick attractions you would like to visit. You can download your itinerary as a pdf and print it, or you can just download their app for iOS and Android and use it on to go. You can change your list anytime and add new places. I personally like the view options on the map. You do not need to buy maps with tourist attractions anymore. The app works offline and is free.
Hipmunk
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Flying can be fun. Sometimes. Imagine a flight with 2 or 3 stops lasting a couple of hours. That’s not fun. That’s annoying. Hipmunk is a search engine for airline tickets which compares offers from airlines and travel sites. You can search your flights according to price, duration, take off, landing and AGONY. Agony is combination of price, number of stops and flight duration. Next time you are buying an airline ticket, go check hipmunk and find a flight with good price and less agony.
Workaway.info
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Learn something new, help someone, meet locals, travel and get free accommodation and food. Sounds like a pretty cool offer, right? On workaway.info you can find small jobs in more than 135 countries around the world. Standard volunteer rate is 5 hours a day for 5 days a week. You can help families or small organisations. Living with locals and learning new skills will make your trip unforgettable.
Trivago
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You need a place to stay. So you are thinking about all the websites you need to go trough to find an affordable and nice hotel room. Well, you do not need to do that anymore. Trivago is the largest hotel search in the world which compares deals from around 238 booking sites. Simply search the place where you want to go and set criteria important to you, like your budget or even the size of the hotel and distance from city center.
Bla Bla Car
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Need a ride? Find travelers who are offering free seats in their cars for your trip. Bla Bla Car is pretty popular in UK and Europe, serving almost 10 millions members. Besides finding a cheaper ride, you can meet interesting people. Every member has their profile, ratings and you can see what type of car they are driving. It is like a safer version of hitchhiking.
As you can see, travelling doesn’t have to cost a fortune. What’s more, cheaper options sometimes bring more adventure and a richer experience. Try out these websites and find services for budget travel which suits you the best. If you want to know more tips and tricks for budget travelers, check out 40 Budget Travel Tips Evert Wanderlust Should Know.
Featured photo credit: pixabay via pixabay.com
The post 10 Sites for Budget Travel You Should Know About appeared first on Lifehack.
Ease Into Saving for Your Future with the Gradual Savings Strategy
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Saving money can be hard for some people. It's tough to think of what you'll need ahead of time, and you can get stuck on the fact that any money you save now is money you can't readily use. Whether you're just starting a 401(k) or starting to put money away another way, starting small could be your best move.
Plan for worst, hope for the best
This platitude is especially true when it comes to finance. Save as much as you can. Put a bigger down payment on your house than is required. Don’t count on that scholarship until it’s in the bank!
If you are stuck without funds then you are truly stuck, so be sure that you have money in hand (on bank) before you spend it.
This extends through many facets of finance. Your friend says they’ll pay you back, but will they? When? You usually get birthday money from your grandfather, but will you this year? How much? Basically, don’t count on money you don’t have.
You can always spend it later, but you can’t always get back what you’ve spent in haste.
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Cutting back on electricity can save you some cash, but the savings vary. For example, unplugging an idle phone charge will save you a whopping $6 a year , if that. On the other hand, using a space heater rather can save you up to a thousand bucks a year. This chart tells you how much you’ll actually save using a handful of different strategies.