Save Money

Earnity, led by fintech veterans Dan Schatt and Domenic Carosa, is a crypto platform and marketplace unlike anything today. Earnity users can expect a highly secure, easy-to-use app for buying, selling, and holding crypto and other DeFi assets. Earnity also offers access to the world of decentralized finance via its super simple and very intuitive platform.

A Part of a Buyer’s Success

Platforms such as Earnity’s have been crucial to the success of many cryptocurrency buyers.

Cryptocurrency-centric firms provide various services to their clients, including access to a wide range of crypto purchase opportunities, professional advice and support, and the ability to outsource the management of one’s purchases. Listed below are five other key benefits of working with a cryptocurrency-centric firm:

1. Access to a Wide Range of Purchase Opportunities

Cryptocurrency firms offer a wide range of crypto purchase opportunities, including both traditional and innovative purchases. This gives buyers the ability to explore various options and find the best purchases for their needs.

2. Professional Advice and Support

Cryptocurrency firms provide professional advice and support, which can be invaluable for buyers who are new to the cryptocurrency market. This advice can help buyers make informed decisions about their purchases and avoid costly mistakes.

3. Outsourced Management of Purchases

Cryptocurrency firms can manage a buyer’s portfolio on their behalf, significantly reducing the time and effort needed to manage one’s purchases. This can free up time for buyers to focus on other important tasks.

4. Increased Liquidity

Cryptocurrency firms can help increase a buyer’s liquidity, which can be helpful during periods of market volatility. This can allow buyers to sell their purchases when needed and avoid losing money.

5. Expertise in the Cryptocurrency Market

Cryptocurrency firms such as the Dan Schatt and Domenic Carosa-led Earnity have a great deal of expertise in the cryptocurrency market, which can be helpful for buyers looking to make money in this exciting new market. This expertise can help buyers make informed purchase decisions and maximize their profits.

 

Online shopping is a global trend that is gaining more and more users. In this note we bring you useful tips to save money on your online purchases and to be able to take full advantage of the offers that we see online, which will allow us to acquire services and products at the best price.

Save money buying online

The best way to save money when shopping online is to use a prepaid or vcc card. This type of card does not charge commissions and expenses can be better controlled, since it only debits the money for the purchase. There are many vccs on the market and even banks offer them free of charge to their customers.

Needless to say, finding deals is key to saving money on online shopping. Subscribe to newsletters, sales sites and your favorite stores to receive real-time notifications and sales newsletters.

Use grocery vouchers or meal tickets to buy gift cards or gift cards that you can shop with online, so you don’t spend money in your bank accounts.

If you purchase services over the Internet, you can split the expense with a friend or neighbor to save money and share the service.

It is common knowledge that if you buy plane tickets online, it is better to buy them at dawn, because at that time the airlines tend to lower their prices a little. This applies to other offers and stores on the Internet, so it is worth buying at dawn.

Avoid personalized ads at all costs, as they are misleading and can lead you to pay a lot more. Also, always be sure of the value of the service or product you are buying, as the price is often falsified and hidden charges are made on the account.

Use discount coupons whenever you can, on the internet there are many sites that offer this type of coupon, use them and you will save a lot of money on the purchases you make.

Finally, we recommend online shopping in Pakistan whenever possible, as these secondary costs can significantly increase the price of the item you are purchasing. Hire shipping companies that offer low or reasonable prices, but are known to avoid fraud.

With these tips you will surely be able to save a lot of money on every purchase you make through the Internet, put them into practice and you will notice the difference from day one.

Plan your online purchases

If at this time you have no money to spend or are trying to save, we recommend that you establish a budget. Having a good plan will help you avoid overspending by falling into temptations like “free shipping on orders over $100” or “buy one, get one free”.

Your budget is closely tied to your shopping list. Must-have and must-have items that you need to buy online every month are your fixed expenses such as buy zain sim card online. Roughly calculate their amount, then do the same with the things you would like to have, which will be your variable expenses. Now all you have to do is see how the two categories fit into your overall budget.

Saving money may be one of your biggest goals as it is for many others. Money is important and not only necessary for survival, but can also help you get some of the things you want such as food, clothing, cars, etc. Unfortunately, even if you work hard it can be hard to save up enough money to have all of the things you want in life. Even if you are extra frugal, there are probably some hacks you don’t know about that can save you some cash. If you are always looking to save some extra money and could use some tips, here are 3 life hacks for you.

Negotiate

Negotiation can happen in pretty much any situation where you owe people money and can help you get out of debt fast, thus saving you a lot! Try calling creditors, hospitals you owe medical bills to, or even the lenders you used for an auto loan. You may be able to find a way to break your car lease without penalty, or pay off your fines sooner. There are usually options that will save you money, you just have to call and talk to people.

A little negotiation can go a long way, so just give it a shot in any situation where you might stand to save some bucks. Doesn’t hurt to try.

Go To Medical, Dentistry, And Beauty Schools

Whenever possible, try going to medical schools for medical treatment in order to save money while still receiving great care. The same goes for if you need a tooth pulled, a dentistry school will be able to take care of that for you for a much lower rate than a regular dentist.

You guessed it, this little hack also applies to beauty treatments such as manicures, haircuts, and massages! Going to a hair school or massage school will be much cheaper but they will still do a great job at whatever you need. Most of the time they are supervised by their teachers so that no mistakes are ever made. Once you try it you’ll be hooked, and you won’t believe the discounted prices!

Learn To Cook

Although it can be argued that groceries are expensive, they are nowhere near as expensive as restaurants. Going out once in a while for a special occasion is great, but if you are eating out all the time it can cause you to be wasting a lot of money. Learning to cook will save you hundreds of dollars on food each month, and you may just discover that it’s something you really like to do!

Saving money feels great, especially when you don’t have to make huge sacrifices in order to do it. Hopefully these little life hacks help you out!

 

If you are buying a Snowmobile for the first time, welcome! Snowmobile isn’t a dishwasher where you don’t need a smile on your face when you see it. But instead, it is a necessity. But in the case of a snowmobile, this is something you’ll treasure in your life.

Many factors play a significant role while you are shipping for a snowmobile. Most of them require time and make sure that you spend time on your research rather than asking a friend.

Like any other bike, the purchased item will rely on your taste and necessity.

You might have had hundreds of scenarios played on your mind before you purchase a snowmobile, but here we are, including some of the crucial facts that you will need to remember before you buy one.

Budget of the machine

A snowmobile is an expensive automobile to have. And not only the machine itself, but you have to pay for accessories like helmets and gloves, riding maps and trails, regular maintenance, and gas. And you might also need new clothes.

If you have a close-knit funding, you can apply for online payday loans in Ontario. Buying a Snowmobile is all about adventure rather than anxiety. Take your time and be sure of your requirements.

Know the market

The price of a snowmobile indeed changes with each weather. No one is going to buy a machine like this without snow. And this is why make sure that you understand that you are spending your money in the right way.

Do the math

Please don’t go and buy a snowmobile without doing proper examination. Read magazines and articles and do adequate research about the dealers of a snowmobile. And while you are getting ideas, make sure that the brand you will be aiming for will reach your requirements.

The type of snowmobile

Make sure you understand what kind of snowmobile you are looking for. Even if it’s a ride-off or trails one, make sure you understand the process. You have to follow many kilometers of trails before reaching the off-road, so keep that in mind.

The durability of the machine

Getting an excellent and reliable snowmobile will provide you with a long-term investment. Make sure that the machine is equipped with a heavy motor. The brand should be well-known in the market.

Mileage

This is noteworthy if you are trying to purchase a trail snowmobile. But if you are interested in off-road driving, this is less consequential. Extra mileage will save you gas, and you’ll be able to ride for hundreds of kilometers. Most snowmobiles have a mileage of 12,000 kilometers per year.

Engine

If you are looking for a snowmobile that will last you for years, try and buy a machine with a heavy engine. Make sure that your turbo engine is worth the thrill and the money. Engines are also crucial if you are individual who cares about speed.

Accessories

You need a booster seat if you travel with your partner. And sometimes, you need to tailor your sled before riding the bike. This makes the riding much more manageable. And you will need extra pieces of equipment like a travel bag if you are going to ride far.

 

 

A term insurance plan has come up as a popular substitute for a life insurance plan. These plans offer financial safety to your family or dependents in case of your untimely demise. It is recommended that you buy term insurance plans as early as you can. This is because your premium gets decided on the age at which you are buying the policy.

Financial decisions are often difficult to take, especially ones related to plans. There are several things that one must consider to buy the best plan available in the market. Therefore, to help you out, below, we have made a list of questions to ask yourself before buying a term insurance plan.

Is the premium bound to change in the future?

To check whether the premium remains the same or changes with time, you will have to read the policy document offered by the firm carefully. If the premium is bound to change in the future, it should be specifically mentioned in the offer document. Usually, the premium of the insurance remains the same.

An exception will be if the policyholder brings up a change in the premium. This is usually because of the policyholder developing life-threatening diseases/ habits or any type of disability. On such occasions, only the company can apply a premium rise.

How do smoking habits affect the policy?

If you have the habit of smoking/drinking while you are getting the policy, you will have to disclose it to the company as this affects your life expectancy. On the other hand, if you develop any of such habits after you have brought the policy, you will have to disclose it to the company then as well.

Consequently, it will impact your premium. As mentioned above, the company has the authority to impose loading or even cancel the policy. It should be kept in mind that the policyholder does not have the option to not disclose these habits as it would breach the clause.

Is the claim settled in case of accidental death?

Yes, even if the policyholder has experienced an accidental death, the company will pay the dependents or family members. The reason does not make much of a difference; therefore, the sum assured would be paid irrespective of whether the death is natural, accidental, or due to an illness.

Along with that, there are several additional benefits known as riders which the policyholder can choose. Some of these include critical illness riders, accidental death benefits, and permanent disability riders. By going for these additions, the policyholder can assure some extra amount over the basic sum assured.

Are cross bordered deaths considered?

Even if the demise takes place outside of India, the sum assured will be paid to the nominee. The necessary step for this is to disclose your migration to the company to know about the situation. Much like how you need to disclose a change of phone number and other such information, you also need to disclose your address.

Moving to some countries, such as Pakistan, Burma, etc., can affect your insurance policy as these countries are considered unsafe. It may lead to the company deferring the facility. Apart from that, it is usually valid for foreign countries.

What if a person has more than one policy?

If you have two policies, then it is crucial for both the companies to know about this fact. The form that you fill out for availing of the policy itself has the option where you can disclose your other policies. At the time of death, the company which was held for the longest is provided with the death certificate first.

After that, the other company is informed. Only after the acknowledgment from the first company has been received, the other companies initiate the procedure. However, this also varies from company to company as many companies do not require an original birth certificate; a photocopy works as well.

How proficient are insurance firms in investigating death?

The investigation process depends upon whether the claim is an early one or a normal one. If the claim takes place within the first two years of purchase, it is considered an early claim usually. However, this differs from insurer to insurer. A thorough investigation is conducted by the firm if an early claim is made.

Which deaths are not covered?

A common piece of information that most people do not know about is that term insurances do not cover deaths due to terrorist attacks. However, these claims may get settled on humanitarian grounds if the nominee decides to contact the IRDA.

Conclusion

The questions mentioned above will help you make an informed decision about your term insurance plan. Along with that, you should compare different policies together to get the best term insurance premium. Most importantly, you should read all the documents carefully, and you will be good to go!

 

One of the most straightforward lending products available is a personal loan. The premise is super simple – you borrow money to enable you to complete a purchase and pay it back in the agreed timeframe with interest.

However, what’s a little more difficult to understand is how lenders decide to approve applicants for a personal loan, as this process isn’t widely shared.

Therefore, in this post, we explain exactly what lenders look for when considering personal loan applications and provide you with an insight into how to ensure you are approved for a loan.

And if you’re in a position to apply for a personal loan when you’re done reading, Koyo provides flexible loans of between £1,500 and £12,000. You can utilise our loan calculator or submit an application directly to www.koyoloans.com. Representative APR 27%.

In the content that follows, we focus specifically on unsecured loans (as opposed to secured), which are typically much riskier and require you to place your house as security for the loan. You should also be aware that this article is part of a series, so please feel free to check out our full guide to personal loans when you’re finished reading this piece.

Unfortunately, the majority of lenders are unable to independently verify affordability information, whereas Koyo can. This means that other lenders typically base their decision solely on information that is provided to them by a third party, as opposed to understanding your current financial situation.

How do lenders make a decision on applicants? 

Before we consider different ways of maximising your success when it comes to applying for a loan, it’s important to first look at the criteria that lenders use to make their decisions.

What lenders want 

The best way to look at lenders is to consider them as businesses first and foremost, whether they’re a high street bank or an independent loan provider. And to succeed in the world of business, they need to make money and turn a profit. As such, lenders know that they are guaranteed to lose money if they lend to clients who aren’t able to repay the loan! 

Therefore, a lender will begin by ascertaining how likely a client is to repay a given loan. And while no loans come with zero risk attached, lenders will try their level best to cover all bases. The main way they do this is by charging sufficient interest so that if a handful of borrowers default on their payments, the lender is covered by those that continue to pay as per the terms of the arrangement.

But as you can imagine, it’s a precarious balancing act: if a lender charges too much, their loans won’t be competitive, and if they charge too little, they’re likely to lose money.

How do lenders know if someone is able to repay the loan? 

Ultimately, lenders have no way of knowing for certain if someone will repay a loan. However, they can prepare themselves by asking two questions:

1. Does this individual have a track record of debt repayment?
2. Can this person afford the repayments through their current earnings?

The first question is typically the most important for the majority of lenders. This is why they usually carry out a credit check, which sees them access relevant information from credit agencies such as Experian and TransUnion. These agencies collate information regarding people’s debts, the timeliness of their repayments, as well as other data that lenders might find useful.

And while question number two is vital, the majority of lenders are unable to independently verify information relating to affordability (Koyo can, as we explain later). As a result, most lenders base their final decision about whether to lend money to you solely on the information provided by a third party, which doesn’t necessarily consider your current financial situation.

So, It’s your responsibility to convince lenders that you’re capable of paying back the loan that you’re applying for. How do you go about it? Let’s find out!

How do I get approved for a personal loan? 

When you know what lenders are looking for, it’s relatively easy to set a plan in action to improve your chances of getting approved for a loan. Here are some of our top tips:

Improve your credit score 

Typically, your credit history and your track record of repaying debt is the most important factor for most lenders when deciding whether to issue you with a loan.

Lenders can access your credit history from credit bureaus, and the best way to improve your credit score is simply to ensure you repay your current loans on time, all the time.

But your credit score is a little more complex than this. For instance, making sure you’re on the electoral roll and correcting any mistakes that are on your file can make a big difference to your credit rating.

Ensure you can afford the loan

Next, you need to think about the affordability of the loan you’re applying for. If a lender is going to give you money, they want to be confident that you will be able to pay it back.

For instance, if you’re remaining with £400 per month after covering your financial obligations (rent, food, utilities, etc.) and the monthly repayments on your loan would total £350, the lender is unlikely to sign off on it. Why? Because a small change in circumstances would mean that you would probably default on the loan.

Lenders can also take your debt-to-income ratio into consideration, which doesn’t take your monthly expenses into consideration.

Either way, it’s important to conduct some research into what you think you can afford before you apply for a loan, and you should leave yourself a reasonable buffer. And while you could technically extend the loan period, you will find that your interest payments will increase if you do so. As such, the best way to increase affordability is to reduce the loan amount.

Look for a lender that offers loans based on affordability. 

Verification is one of the biggest challenges when it comes to writing loans based on affordability.

When a lender approaches a credit bureau, they are provided with accurate information from a trusted source. This is because the bureaus store data relating to missed payments, loans paid off, CCJs, and other aspects of your financial history.

But checking affordability is much more difficult for lenders. This is because the majority of lenders are unable to independently verify your monthly spending or income. But Open Banking lenders are different. Lenders like Koyo can securely check your bank account information and therefore verify the affordability of the suggested loan based on your current situation.

This means that Open Banking lenders are less constricted by credit score and instead can determine your loan approval based predominantly on affordability. This means that first-time borrowers – or those with insufficient credit scores – have much more chance of accessing a loan.

What type of loan is the easiest to get approved for? 

We need to start this section with a caveat – the easiest loan might not necessarily be the best loan for you. 

Typically, payday loans are the easiest types of credit you can get approved for. But such loans come with extremely high-interest rates, and it will make it more difficult for you to access other lines of credit in the future.

So, instead of asking what type of loan is the easiest to get, it’s better to ask yourself which is the best option available to you.

The good news is that help is available if you’re looking to work out how likely you are to be given a certain type of credit. You can use Money Saving Expert’s superb eligibility calculator to examine your approval chances before applying.

How much time does a personal loan approval take? 

Fortunately, things have improved considerably in recent decades when it comes to loan applications. Instead of having to schedule an appointment to see your bank manager in person and waiting weeks to hear the results of your application, lenders in the present day can usually handle the whole process online and offer you an answer very quickly.

For instance, Koyo will usually give you a decision within one working day and typically deposit the money into your account within 48 hours of the application. And due to the fact that much of the application process is automated, many other lenders offer quick turnaround times, too.

Be sure to review our guide to the required documents needed for a personal loan, so you can start the application process armed with all the required information.

What should your credit score be if you want to get a loan? 

You might be surprised to hear that lenders don’t necessarily look at the credit score itself when deciding to approve your loan. Your score is just a number that makes your credit history a little easier to understand at first glance.

That being said, each of the bureaus (Experian, TransUnion, and Equifax) scores your credit on a scale rating from very poor to very good, so the score given is a useful guide for lenders to use.

While there’s not usually a minimum credit score required to be approved for a loan, borrowers with good credit scores are more likely to:

• Select from a broader range of loans
• Borrow higher sums of money
• Be offered lower interest rates

Generally, providing that your credit score is at least ‘fair,’ you should be able to apply for a decent range of loans, but you will probably be restricted if your score is considered poor or very poor, as you might expect.

Is it possible to get a loan with a bad credit score? 

Yes, you definitely can get a loan with a bad credit score, but your chances of approval are lower.

This is because each lender uses its own criteria and defines what they think a ‘good’ borrower looks like. For instance, one lender might be very happy to approve you if you have multiple credit cards but would see your short address history as a red flag. And just to confuse things, another lender might have the completely opposite opinion!

Therefore, because different things are important to different lenders, you might be approved for a loan even if your credit score is poor. But that being said, you will have to work harder to find a provider that will take a chance on you, and you will have to come to terms with the fact that you will have to pay a higher interest rate.

But the good news is that you can improve your credit score by always making your repayments on time and never defaulting on your current loans. You can check out our guide on how a personal loan affects your credit score to find out how this works in practice.

Alternatively, if you have a bad credit score, you could look for a lender that uses Open Banking instead of your credit history as a factor in approving you for a loan. For instance, Koyo offers personal loans that are flexible, up to the value of £7,500, with a representative APR of 27%.

What should you do if your application for a personal loan is rejected? 

First and foremost, don’t be too concerned. There are so many reasons why your personal loan has been rejected, and the majority of them are pretty easy to fix.

So, if your loan application is rejected, our first piece of advice is to dive into our comprehensive guide on the subject. But if you’re convinced that your application was rejected because of your credit history, consider applying for a loan from an Open Banking lender like Koyo. As mentioned, Koyo uses your real-time bank data to consider your application, as opposed to what the credit bureaus say about your suitability.

Next steps 

We hope that you’ve found this guide insightful and beneficial. You can let us know if you have any questions in the comments section below.

But if you’re ready to apply for a personal loan, remember that Koyo offers flexible personal loans of between £1,500 and £12,000. Representative APR 27%.

 

As you welcome the new year 2022, it might be a good idea to reflect upon how well you did last year. This also includes the financial aspects – how your investments have fared in the last year and if you are still on track in achieving your financial goals at the deduced time horizon. It’s a good time to revamp your financial planning checklist if needed. In this article, we will cover five items that you must check off in your financial planning list in 2022.

1. Prepare a new budget
   Every year, an individual must ideally exercise new budget preparation taking their present financial situation and other factors into consideration. One must begin by evaluating their current income levels and their expenses. Reviewing your expenses will help you to monitor your expenses and avoid unnecessary expenses. A simple way to achieve this is by following the 50-30-20 budgeting rule. As per the rule, an individual must ideally allot 50% of their income towards basic necessities such as rent, food, etc. Next, 30% of the income can be used to support one’s lifestyle such as going out for dinner, taking a trip, buying new apparel or furniture for the house, etc. And the remaining 20% must be saved and ideally invested in the right investment options.
2. Evaluate your financial objectives
   Evaluating your investment goals will help you stay on track with achieving your financial goals – big or small. You must also evaluate if you are on the right path to achieve your retirement and tax saving investment goals as well. You must also review if you have made necessary contributions towards your financial goals such as retirement, child’s higher education or marriage, buying a house, etc.
3. Evaluate your cohesive portfolio
   A cohesive investment portfolio comprises of different types of investments such as mutual funds, gold, fixed income securities, stocks, real estate, money market instruments, cash and cash equivalents, etc. Next you must work towards aligning your investment portfolio as per your desired asset allocation mix. If needed, rebalance your investment portfolio as well as per your financial needs.
4. Clear your debts
   It is always a good idea to be financially independent and debt-free. Being debt-free does not add on to your stressful life. You can begin by getting rid of high-interest bearing types of debt such as personal loans or credit card bills. Keep in mind that certain debts such as home loan provide tax benefits to investors. So, you must plan your debt repayment plan in a way that focusses on home loans at the last.
5. Maximise tax savings
   An individual can avail of several tax saving investments to lower their tax outgo. With different tax saving investment options to choose from – ELSS (equity-linked savings scheme) mutual funds, tax saving fixed deposits (FD), Sukanya samridhi yojana (SSY), public provident fund (PPF), national savings scheme (NSC), senior citizens savings scheme (SCSS), etc. choose a type of investment that aligns with your financial portfolio.

 

 

Forex Trading Markets is a global online network wherein forex traders and traders might also purchase and promote. It has no physical site and runs for 5 half days every week, 24 hours a day.

FX Trading Markets are one of the maximum sizeable economic marketplaces inside the international. It is difficult to underestimate their role within the international charge gadget. Their operations/dealings should be sincere to fulfil their function efficaciously. Trustworthiness refers back to the fulfilment of contractual commitments.

If you plan to do forex trading in Pakistan, you should understand approximately the numerous markets to change Forex first.

Major FX Trading Markets encompass-

• Spot Markets

• Forward Markets

• Future Markets

• Option Markets

Spot market

In FX trading markets, those are the quickest foreign money transactions. This marketplace permits buyers and sellers with on the spot payment primarily based on the current alternate fee. The spot marketplace bills for about one-third of all Forex, and trades normally settle in a single or two days. This certifies traders to be observable to the currency marketplace’s instability, which can supply the fee to upward push or fall between the settlement and the exchange.

Forward Market

An ahead agreement is between two parties ( companies, individuals, or authorities nodal corporations) to behaviour enterprise at a certain fee and amount at a future date. Because no cash is transferred while the contract is signed, there is no requirement for a security deposit.

They are hedging and speculating benefit greatly from forwarding contracts. A wheat farmer forwards his crop at a regarded set charge to keep away from rate risk is the standard case of hedging utility through forwarding contracts. Similarly, a bakery needs to reserve bread in advance to help with manufacturing planning while averting fee modifications. Speculators expect an increase in charge based totally on their information or records.

Future Markets

Future markets can assist with a number of the issues that arise in forwarding markets. In phrases of centre precept, destiny markets are similar to ahead markets. On contary, contracts are even more standardized, and buying and selling are centralized (on an inventory change like NSE, BSE, KOSPI). Because exchanges have a commercial clearing enterprise that acts as the counterparty to both facets of every transaction and ensures the change, there’s no counterparty threat. Compared to forwarding markets, the futures marketplace is far more liquid since it allows a limitless number of human beings to take part in the equal exchange (like, buy FEB NIFTY Future).

Option Market

An option is type of contract that allows the option purchaser the right, however now not the obligation, to buy or promote the underlying at a destiny exact date (and time) and a defined charge. A name option lets in your buy, whilst a placed option allows you to sell. Because currencies are exchanged in pairs, one is bought, and the other is offered.

Etoro is one of the most famous Forex market buying and selling systems to exchange. If you need to know about the withdrawal fee etoro, check the website or do research to discover the identical.

A savings account, utilized properly, can be an exceptionally valuable tool. A savings account, especially one with a debit card attached, can be used in ways that both allow for emergencies while also ensuring an individual never lives beyond his or her means. Banking experts like Dan Schatt and others say that these tips can help you get the most value out of a savings account:

Start an Emergency Fund

Emergency funds are often mentioned in personal finance circles but rarely put into practice by individuals who either do not have them or choose to ignore their existence. An emergency fund can be implemented by creating an account with one financial institution and then opening sub-accounts within that institution for every expense you anticipate having throughout the year. For example, if you need $500 for groceries per month, create a sub-account in your bank labeled “Groceries” and transfer $500 to it each month. If you do this, when an emergency arises and you need to purchase groceries for $700 in one month, the difference will come out of your account labeled “Groceries.” In this way, if money is tight, you can live on less than what is available in these accounts without incurring overdraft fees or using a credit card. This is a great way to ensure you never spend more than what you can afford and provides peace of mind for those times when the unexpected happens.

Save Regularly

Regularly saving your money is an excellent habit to develop; even if it’s only $25/week, saving this amount each week will result in $1,300 after one year. That may not seem like much, but that same individual who saved $100 twice per month would end up with $4,200! Those small expenses that we all incur weekly – a cup of coffee here, 25 cent app there – can add up and quickly divert funds away from savings accounts if they are allowed to do so.

Pay Yourself First

A smart way to ensure that savings remain a priority is to pay yourself before paying any other bills. By “paying yourself first,” as Dave Ramsey would say, you’re ensuring that you always have some money on hand for those emergencies and unexpected costs that we all face from time to time. If you make a habit of saving this way, it will become second nature, and your savings account balance will grow over time without you having to think about it.

Utilize Direct Deposit

Direct deposit has been around for decades now but remains the most convenient way of receiving a paycheck. When using direct deposit, avoid the temptation of transferring funds into your checking account – which can easily lead to spending mistakes if not done carefully. Instead, have your paycheck deposited directly into savings. This ensures that money is being put aside for future use without you doing anything extra other than setting this up with your employer.

Save Whenever You Can

These days, it seems like there are opportunities to save your money at every corner. For example, do you go out to eat frequently? Try cooking meals at home instead and using those leftovers for lunch the following day. Is your heating bill excessive? Lowering the temperature on your thermostat or closing off rooms that are not in use can lower that cost substantially throughout the winter months. The point here is simple: whenever possible, find ways to save additional amounts of money wherever possible – even if it means taking advantage of free offers like samples at the grocery store (which can often save you well over $20 in a single visit).

 

Many families all over the world have credit card debt. Credit cards are a good way to get access to extra money that you don’t have on hand right now, but relying too heavily on them is a good way to end up with an unexpectedly high amount of credit card debt. If you currently have so much credit card debt that you’re barely making an indent into your balance every month, a balance transfer card like the Citi Simplicity card could be a good option. Here are a few of the benefits that a balance transfer card can offer.

1. A Way to Pay Off High-Interest Credit Card Debt

One of the reasons credit cards can be so dangerous for debt is because the interest rates can be extremely high. High-interest credit card debt is very common, and it can completely destroy the amount you’re able to put toward paying off the debt every month. A balance transfer credit card can give you low or 0% APR on your balance transfer for a period of time.

2. May Offer an Introductory APR on Future Purchases

Most commonly, balance transfer credit cards are geared toward helping you avoid some amount of interest on your purchases. The Citi Simplicity card, for example, offers 12 months of introductory 0% APR on new purchases. That means if you have a large purchase coming up, you might want to put it on this card to pay it off over time with no interest.

3. Commonly Doesn’t Have an Annual Fee

It’s very common for balance transfer credit cards not to come with an annual fee. You’ll likely pay a percentage fee when you transfer the balance from your old credit card to the new one, but it’s less common to have to pay a yearly fee to keep the card open. That means you’re not losing any money just by having the card open, and you can put that money toward paying off your balance.

4. Allows You to Consolidate Debt

You don’t have to just transfer balances from a single credit card to the new card. Many balance credit cards allow you to consolidate debt from a variety of credit cards. This can make it easier for you to make your monthly payments and avoid forgetting a payment for one of the credit cards that you have open. This debt consolidation is a great way to manage your current debt.

Conclusion

Families often suffer the most from credit card debt, as it can be even more difficult to routinely make more than minimum payments when you have extra expenses as a family. This is why balance transfer credit cards can be so helpful for many people. If you’re looking to invest in a balance transfer credit card, make sure you do some research first. It’s also a good idea to have a plan for how you’re going to pay off the whole balance over the introductory APR period.