How to Make the Most of Your Money Each Month

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Tuesday, August 25, 2020 / 09:40AM / Sponsored Post by Noelle Marfil /Header Image Credit: Personal Capital



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Unless you have a huge salary or income from investments, you will no doubt need to watch what you spend each month. However, there are ways to make your money go further and to ensure you make the most of every cent you earn. Here are some tips to minimise your outgoings and have more left to save or invest at the end of the month.

 

Consolidate Debts with a Loan

If you have a lot of small debts, like credit or store cards, then paying these off should be a priority. It may be worth looking at getting a loan with Nimble Australia, so you can pay off high APR debts and have only one repayment a month. This means more money in your pocket and paying less interest over time.

 

Find a Side Hustle

Boosting your income can also be a good way of having more cash. A side hustle can take as little as a couple of hours a week, but over time can be good for your financial health. There are lots of ideas for side hustles online, but ideally, you should do something you are passionate about so it feels less like work.

 

Invest Some Money

Rich people don't just get rich by earning money, they invest it wisely, which means they make the most of every cent.

 

Some ways you could consider investing include:

  • Stocks and shares - there are even apps that help you invest in this way
  • Real estate/property
  • Mutual funds
  • A pension/retirement plan
  • Cryptocurrencies

 

Of course, investing carries risk, and some investments are riskier than others. You should always keep up to date with market news to see what's going on and how your investments are doing. However, it can be an excellent way to boost your income, and with the right financial advice, can help you build a nest egg for the future.

 

Review Your Budget

While you may think your budget is well organised, it's often worth putting it up for review and seeing what you can improve. For example, billions are wasted each year on subscriptions people don't use, so if you've signed up for free trials or streaming services, you may be wasting cash.

 

Review your bills regularly too. Once you're out of your 12-month contract, bills often increase, so it's worth seeing if you can switch providers, or get a better deal with your current one. Most companies are keen to keep subscribers on, so will be happy to negotiate and give you a better package. Don't be afraid to tell them you're planning to leave, as this will often motivate service providers to bring out their best deals and discounts to get you to stay.

 

Making the most of your hard-earned money is important, as you've no doubt had to struggle to earn it. From making sure you aren't wasting money on frivolous things, to ensuring you are saving your money in a high-interest account, there's a lot you can do to boost your income and make the most of your cash. Nobody wants to waste their money and if you want to boost your savings, simply follow the above steps.



Proshare Nigeria Pvt. Ltd.


 

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