Whether you’re finding yourself living paycheck to paycheck, or you want to save up and get yourself a new car or apartment: it’s vital that you move into a healthier relationship with money.
Stretching your money further means less financial stress and more ways for you to explore spending and use your money. These are the top three ways to put this into practice and why it matters.
Why People Struggle With This
A large reason people struggle with finances is they lack any planning. If you don’t have any set schedule or plan made for your finances, you may eventually realize that you’re just spending until you’re out of money and not planning correctly. It’s a better idea to be conscious of your finances.
1- Encourage Your Money to Grow
Your money won’t grow on its own! If you want to put your savings to use, consider using RobinHood or TastyWorks! These apps allow you to start investing and learning while you do it. Instead of guessing through the process and hoping you’ll get some money back, you can use these to make large amounts of profit and see your finances grow.
2- Buy Deals and Track Sales
If you don’t already have Honey downloaded on your computer: you might not know the incredible rush of suddenly getting a huge percentage off of whatever you’re purchasing! Tracking sales and buying when things are at all-time low prices is a great way to ensure you spend less and your money goes further.
You can also use Countr, which works as a social media app that gives you the chance to share deals and shop with the help of your friends and strangers alike.
3- Track Your Finances Better
This is an option that everyone should follow. Whether you track your finances on your phone or via buy now pay later laptops, it’s a good idea to keep an eye on how much you’re spending and earning. One of the best ways to track your finances is Mint! This app allows you to connect your bank accounts and watch as your finances change, check what you’re spending the most on, and ensure you spend intelligently.
If you’re in a relationship, you might want to consider Honeydue instead! This app is designed so you and your partner can go over financial information together and decide on a healthier plan for your shared money. This can strengthen your relationship and help you save even more.
Mistakes You Should Avoid
When starting to stretch your money further, there are some rookie mistakes that some people make that can end up harming your financial health further. Don’t stretch your money so thin that you’re depleting your quality of life or you’re no longer able to afford things that make life exciting. This can lead to binge buying later. Instead, set aside some fun money for yourself every week.
Everyone Can Make Their Money Go Further
Whether you’re new to budgeting and you want to start off on the right foot, or you’re familiar with it and want to grow: you can do anything if you stick to a plan. Your financial health is your own to decide.