I don’t know about you, but 2020 was a year that I have learnt more about savings than any other time in my life. It was probably the year that I spent less on travelling or nights out as well. However, I feel like it did not make a big change in my pocket.
But I just think 2021 will be different! As we are about to buy our first property this year, one of our first steps was to pick some tools such as a mortgage calculator to help us on savings for short-term goals. It not only allows us to compare different long terms, but we can also check current local mortgage rates.
Buying a property is a big financial commitment for anyone. It demands some cuts, discipline, and several changes in your financial habits. For this reason, I have taken some more simple strategies to be money smart and improve your finances in 2021.
Stop Unnecessary Subscriptions and Memberships
Just in case you don`t know it, we pay for our TV license in this country. And it is not a cheap stuff. As my husband and I barely switch on our TV if it is not for watching streaming services, we have stopped paying for our TV license for good.
We also got rid of our landline subscription. By the way, is there anyone that still uses a telephone to call someone? I doubt it. You can find the best deals in utilities researching around.
Do It Yourself
I have been making my own soap for a quite long time now, and I can see an effective saving in the cost of producing it by myself. Not to mention that I have a quality organic product at home now that it is better for my skin, anyway. Now I am looking for new recipes to produce my own cleaning products. I may even start a new business soon.
Learning how to fix my own stuff is also another way of saving money. To be honest, during the lockdown we did not have so much option when it comes to repair services done at your home. So, why not take up a new kill? There are lots of video tutorials online to help you out.
It seems a silly thing to say, but the truth is – the more you eat well, the less you will spend in medicine, right? But it does not mean that you will spend more money on organic food. My husband and I always pleased with good and healthy food. We cut down in groceries buying more fruit and vegetables from a local farm. And we avoid processed food or white food – which are quite bad for your health.
We rarely buy crisps or take away food. Plus, it is always recommended to make the most of your leftovers. Being creative in the kitchen is part of our routine now. It is also true that the lockdown has helped us to make better eating choices. We certainly have more time to prepare our food when working from home.
Save Money Automatically
We have buying shares saving three years ago and I can guarantee you that it can be a good way of saving money without even notice it. However, it must be well planned, and you need to think about a perfect way to create a budget that won`t be missed in your monthly income. We simply forget that this money exists, and it is taking directly from our direct debit. You can also set a saving account to send money straight to it monthly. Whatever suits you, be realistic for long or short goals.
Start Investing Your Money
Investing obviously requires you to spend money. Spending money isn’t the first thing you’d think of when coming up with ways to improve your finances, but when you invest your money you can actually make large profits on the money you invest, therefore improving your finances in the long run.
That’s the key with this method, though; it’s a long-term solution. You can invest your money in anything you’d like, from FIAT currency to gold to cryptocurrency. It is the latter that is arguably the best, though.
There are lots of different cryptocurrencies to chose from, so ensure you spend some time researching the best ones. Bitcoin, ethereum, and more recently Dogecoin are all great options.
Just make sure you also know what you’ll need when investing in crypto, including an online wallet. These Vergleich von Dogecoin Wallets (comparison of Dogecoin wallets) will be sure to come in handy if you decide to invest in Dogecoin.