3 Alternatives To Investing In A 401K

If you work for an employer that offers a 401K plan as part of your benefits package, this can be a great way for you to build up quite a nest egg while you are working.

In most situations, employers will match an employee's 401K contributions, allowing wealth to accumulate much faster. However, there are also plenty of alternatives to a 401K.

If you're wanting to explore additional ways to make your money grow, here are three alternatives to consider.

Roth IRA

One of the most popular investment tools available today, a Roth IRA can be a great alternative to a 401K. First, it allows your money to grow tax-free, which could save you thousands of dollars over the years. 

Also, when you retire, a Roth IRA lets you withdraw any or all of your money tax-free as well. If you want to use your contributions for qualifying expenses such as college tuition or to buy a home, you can do this with a Roth IRA. As for annual contribution limits, these range from $6,000 if you are under age 50 to $7,000 if you are age 50 or older. 

It is ideal to work with a financial advisor who can look at your needs and income to provide you with the right amount to invest for your goals. Additionally, they can help you look at your income and current debt to recommend that the right percent of your income should be put into the investment. 

Additionally, they can provide you with recommendations for what percent of your portfolio should be used in other types of investments, not just a Roth IRA.

Real Estate

Always considered to be one of the best and safest investment options by many in the industry, investing in real estate may put you well ahead of others who are relying on a 401K. 

When you invest in real estate, you can do so for either short-term cash flow or long-term appreciation, depending upon your financial needs. Once you own investment property, you can build equity in the property, sell it whenever you wish, or keep it and pass it on to your children or others when you die.

Invest in a Business

If you have an eye for business, you may want to take that money you would have put into a 401K and instead invest it in a startup business. 

Since new businesses are started every day, many entrepreneurs are always seeking financing to get started. Once you've looked over the business plan and have confidence it will be a success, invest your money. 

If all goes well, you could find yourself making more money at this investment than you ever thought possible.

While there is certainly nothing wrong with investing in a 401K, there's also nothing wrong with exploring other investment opportunities. 

Once you do so and learn more about a Roth IRA, real estate, or startup businesses, you may find the money you would have put into a 401K will grow more rapidly in these other options.

How Using Trading Apps Can Make Stock Trade a Breeze

The stock market is a huge and ever-growing stage where investors can make money. It’s an ideal place to invest, as stocks are always changing and can provide great returns if you know how to play the market right.

However, there are a few things you should be aware of before investing in stocks. The stock market is highly volatile and can go up or down quickly, sometimes quicker than you can react. 

You also need to be careful with how you trade stocks, as there are a lot of scams out there looking to take advantage of you. Here are some ways in which trading apps can make a stock trade a breeze.

Stock Market Apps Can Help You Trade Stocks Quickly

Many people who use the stock trading app look to trade stocks quickly. This is because they want to make quick money, and they want to do so without the risk of losing money. 

They also want their trades to be easy, as they don’t have much time to devote to trading. However, not all stock trading apps are perfect for beginners. There are a few that can help you make quick and easy trades.

Stock Trading Apps Can Help You Avoid Scams

Stock trading apps, something like E-Futures, can be very useful when trying to avoid getting scammed. This is because they give you a complete overview of the stocks you’re looking at and allow you to see how they’re performing. 

However, scammers want to steal your money, so you need to stay on top of things. It’s always best to research before investing in stocks, as the information is everywhere. However, some apps can help you stay safe while trading stocks.

Stock Trading Apps Can Help You Find Better Deals

The stock market is a huge and ever-changing place, so it’s hard to know what you should be paying attention to. Some of the best stock trading apps can help you find better deals on stocks, as well as tell you about new developments in the market. It’s impossible to keep up with everything going on, so you must have apps to help you out.

Stock Trading Apps Can Help You Create Your List

If you have a lot of stocks to trade and don’t want to spend a lot of time looking at them all, then having a trading app is essential. The best stock trading apps can create lists for you, which means that they can organize the information for you. You can then look at the lists instead of scrolling through everything.

In conclusion, the best stock trading apps can aid you in your trading and help you get the most out of it. However, you must do all of your research before investing in stocks and using any of these apps. That way you can do everything in your power to avoid getting scammed and have the best chance at making a profit as a stock trader.

How Investing in Trading Software Can Only Help You

Trading is an essential part of any financial plan that seeks to make money quickly and efficiently. It can help you make money, but it can also save you a lot of money if done correctly. However, because it’s a method of making money quickly there are a lot of scams in the trading world. 

If you don't know how to trade, you could easily lose your money through bad deals and investments. That's why it's important to invest in trading software as you grow more and more knowledgeable about the trading world. 

This way, you can get the most out of your trading and protect yourself from potential scams looking to cheat you out of your money. Here is how investing in trading software can only assist you.

You Can Make Real Money with Trading Software

There are a lot of trading software companies out there, and all of them promise to make you rich. However, most of them are scams. There is no easy way to do this. 

You have to work hard and invest your money in the right way. But if you invest in trading software, you don't have to take that risk. This is a great way to keep your money safe and make real money.

You Can Use Multiple Platforms

Most traders use only one platform for their trading, but that's not the best idea ever. Why? Because platforms can introduce bugs and security issues, and that's not something you want to deal with. 

For example, a platform was hacked and lost millions of dollars of investors' money. That's why it's better to use multiple platforms to avoid such incidents. This way, you can get the best service possible and make a lot of money.

Investing in trading software also means there are plenty of platforms available, and you can choose the one that suits you best.

You Can Trade with Multiple Strategies

If you want to become a successful trader, you should use multiple strategies simultaneously a la not putting all of your eggs into one basket. 

This way, you can get the best results possible and make money. For instance, using unique strategies from various outsourced trading solutions from trading advisors can help you trade with multiple strategies in order to make cash.

In conclusion, investing in trading software is a great idea that comes with many advantages. If you want to make money, you should invest in trading software and use multiple strategies. 

The best way to become a successful trader is by using multiple platforms and strategies. This way, you can get the best results possible and make money.

7 Prominent Ways To Save Money Wisely in 2022

Saving money is one of the crucial aspects of building wealth and having a secure financial future. As they say, it is never too early to start saving; saving money provides you with an opportunity to enjoy a quality life.

Saving money is all about how calculative you are, along with the kind of techniques you use to save. Unfortunately, there are a handful of people who have mastered this art consistently.

Through this article, we aim at educating readers who find it difficult to save money, straight forward ways to save and have a financially secure life in 2022:

1. Always plan your expenses monthly: One of the essential things you should start doing as a habit is making a monthly expense budget and sticking to it as much as you can. This method is foolproof, but people avoid it as it is tedious. As you save money by the end of the month, you may use it to invest smartly and watch your money grow with a specific time frame. You may work on your budget and alter it according to your needs, allocating some for emergencies, savings, leisure, etc.
2. Saving maximum money to the best ability: If your monthly expenses are high and you cannot save as much as you want to, it is time to have a robust money-saving plan. You can identify things that you can spend less money on things like dining out or entertainment. Use resources like community events or free memberships. Limit activities like eating out, shopping, and watching movies to once a month. When tempted do an impulsive purchase, hold on for a few days. You may be glad you passed the urge to buy or look forward to saving up for it.
3. Smart investing: Saving and investing a certain amount of money in a recurring deposit is one of the best ways to save money every month consistently. This activity will inevitably make its way into your monthly budget plan. The early you start investing, the more benefits you can reap out of compounding eventually. SIP is another option if you are willing to incur a negligible risk. You can browse the internet for multiple investment options depending on how much and how long you are ready to save.
4. Manage your debts wisely: If you want to be debt-free at the earliest in life, managing them wisely is very crucial. Irrespective of the nature of the loan, you can be debt-free if you incessantly set aside the EMI amount money and make it a part of your monthly budget.
5. Manage your spending impulses: If you can list down all the expenses you can avoid in a month like limited eating out or shopping, it will automatically make it easier for you not to overspend or buy things on an impulse. This will help you to the extent to which we succumb to temptation typically boils down to our willpower. If you see something you like, wait at least a week before buying it, it might happen that the urge to buy that will pass.
6. Plan and eat home-cooked food: Food budgeting and groceries are often a large part of the monthly expense, especially when you live with your family. Planning your meals for the week, making a list of the ingredients, and prepping them accordingly is a great way to avoid wasting food, which saves money. Additionally, you may prevent packaged food and make dressings, gravies, and sauces from scratch. They taste better and cost less.
7. Earn a passive income at home: A single or even two sources of income are often insufficient with the ever-increasing inflation. A great way to earn a passive income is to channel your passion and creativity to supplement your current income. Baking cakes, making jewelry, tiffin services, or even a small online business, etc., are great ways to start.

All these techniques are tried and tested. Let’s start work on building a financially secure life in 2022.

Author Bio:

Aatish Khanna works with the Content Marketing team at Money Club, a digital chit fund platform that makes saving, borrowing, and investing your money more efficient. He writes on topics to help his readers understand processes so they can make better financial decisions. He’s the go-to person that his family, friends, and colleagues turn to for all their money matters. He loves to play board games and aspires to one day build his one finance-related board game and app.

Trading Books: The Best Books for Online Trading Beginners

Whether you are a successful trader or a beginner investor, you should always be reading trading books. Nothing else says more about how passionate you are about being a successful trader. 

So if you are ready to challenge the trade market by yourself from the start, picking up the best investing book is very important to become a successful trader.

Best books to learn how to handle your portfolio in the stock market

Looking for the best online trading book to make a wise investment decision? We have compiled a detail of the best-ranking book below:

Matthew R. Kratter- A Beginner's Guide to The Stock Market

This online trading book by Matthew R. Kratter can be referred to as the best beginners' book. Young investors who do not know enough about the stock market can learn every ins and outs with the guide. 

The writer broke down the topics in different types of chapters which have a detailed discussion of the stock market and how it works. In addition, he also explained how to analyze stock to find out the suitable one which can perform in a short- and long-term period. 

One of the critical areas of this book is where the writer addresses the beginner's common mistakes and how to avoid them. Besides, A beginner guide to the stock market dives into the investment methodologies that are ideal for new investors.

Steve Burns-New Trader, Rich Trader

Making money is the fundamental purpose of investing in the stock market. The new book by Steve Burns is all about how to make money exactly there. 

The book covers various trading tools that are the basis of the investment, and the trader must know. Besides, it has discussed various pitfalls which the traders face every day in the financial market. The useful tactic of Burns helps to transform the form into an imaginary story that is simple to follow and remember. 

And these characteristics of the 'new trader, rich trader' substantially differentiate it from the other books based on a similar topic.

John C. Bogle- The little book of common-sense investing

The little book of common sense investing of John C. Bogle refers to an investing bible. Most experts, even the Investopedia financial review book, rated it as the best-selling financial guide. 

No matter what type of investor you are, it is a must-read book before starting any new investment. It was first published in 2017, providing a complete framework for building a low-risk portfolio and tips to make the most intelligent investment decisions. 

In the 2017 edition, Bogle has added two new chapters on asset allocation and retirement investing options.

By choosing one of the above books, we assure you that you will never fail to draw the most brilliant path for your financial future. If you want to get more clarity about the financial markets and the harsh investment environment, some very good advice can be found in en.meteofinanza.com.

4 Investment Tips for Staying Financially Stable

We've all heard the fact that investments are a necessary part of developing a portfolio of wealth that can be passed on for generations. 

Unfortunately, there is an abundance of both good and bad investment ideas out there that can make it difficult to determine what you should do. 

We're going to share four investment tips that you should follow whenever you're thinking about investing your own money.

Invest Only in What You Can Lose

Investments are not meant to be a get-rich-quick scheme in many cases. Rather, they're a way to try and generate wealth over a lengthy period of time. It's best to stick to only investing with funds that you can afford to lose. 

You don't want to invest your entire paycheck in hopes that you'll get the money that you need back. Investing the money that you can't afford to lose is a surefire way to ruin your financial stability.

Diversify Your Investments

As you start to learn about a specific type of investment plan, like Buying and Selling Regulation CF Shares, it can be easy to want to stick to doing that one investment type. 

Humans tend to converge towards completing investments that they have an abundance of knowledge in. However, there's always the possibility that an event could come along that completely wipes out all investments of that specific type. 

For this reason, it's best to diversify your investments over different mediums. This works to reduce your risk of completely going bust on your investments.

Invest in What You Know

When you opt for investing in anything, you should know about it. Never invest in anything that you aren't familiar with, as it could lead to trouble. 

If you hear about a good investment, always check in with a professional to ensure that it's actually in your best interest if you don't understand it.

Never Go Into Debt for Investing

While it may be tempting to pull out a personal loan for a surefire investment idea that you've heard about, you should avoid doing so. You never want to take on debt to have the available funds to invest. Rather, you only want to use money that you've already earned to invest.

Investing can be a great way to build up your wealth going into the future. However, the above are some key investing rules that you'll want to follow. These will help to ensure that you stay financially stable throughout your investing career.

5 Types Of Cryptocurrency You Should Consider Investing In

If you have been an investor over the years, you have spent the majority of your time looking at various stocks, bonds, precious metals, real estate, and other traditional forms of investment that you hoped would result in huge profits. 

While each of these is still quite important, so too is cryptocurrency. While you may think Bitcoin is the only cryptocurrency in town, the fact is there are many types of virtual currency that can be used as investments. 

If you're eager to explore this new opportunity, here are five types of cryptocurrency you should consider for your investment portfolio.

Bitcoin

The most well-known cryptocurrency, Bitcoin has a market valuation exceeding $1 trillion. Essentially, Bitcoin is to cryptocurrency investors what blue-chip stocks like IBM were to stock market investors back in the day. Becoming more mainstream by the day, investing in Bitcoin could pay off big in the years ahead.

Ethereum

Second, only to Bitcoin in terms of cryptocurrency popularity, Ethereum accounts for about 20% of the cryptocurrency market. 

Also considered blue-chip crypto by industry experts, Ethereum is a fast-growing virtual currency that continues to chip away at Bitcoin's dominance in the marketplace.

Solana

Coming out of virtual obscurity within cryptocurrency to become one of the industry's most sought-after investments, Solana has become well-liked due to its emphasis on decentralizing applications. 

Because of this, investors can bypass brokers, exchanges, and banks, which also results in transaction fees that are negligible or nonexistent. 

As you examine information found on EQIFI and use it in your decision-making process for cryptocurrency investments, you'll probably realize the possibilities that exist with Solana.

Cardano

Existing since 2017, Cardano is liked by investors because it has a hard cap on its coins, meaning that currently, only 45 billion can exist. 

Because of this, Cardano is seen as being able to avoid significant crashes in its value, which is always attractive to investors. Also, to incentivize new investors to create blocks, it relies on proof-of-stake protocol, rather than a proof-of-work algorithm.

Wilder World

Finally, Wilder World is a virtual currency that has only existed since May 2021. Considered a riskier investment than other well-established cryptos, Wilder World is a speculative investment that focuses primarily on digital artists. 

Though it only has a $118 million market cap, it is seen by experts as a cryptocurrency that is poised to strike it big in the coming years.

Whether you invest in only one of these virtual currencies or fill your portfolio with several, you're setting the stage for huge gains that can rival the most trustworthy of stocks.

5 Practical Investment Angles and Financial Strategies

Venturing into stock trading is a risky mission; therefore, you need to ensure you are well aware of the ins and outs of the financial network. 

The higher the amount you are planning on investing, the more careful you should be in watching over your investment to ensure you make more money out of it. This can be ensured by having an investment strategy.

It is also very important to realize that different strategies work for different people at different ages or points in their lives. A 40-year-old car accident lawyer should have a different investment strategy from a 27-year-old lab technician.

What Is the Importance of Having a Definite Investment Strategy?

People often spend a significant amount of time-saving for vacations or property, but forget to consider planning for retirement and investments. 

Having an investment strategy will help you eliminate projects that may potentially perform poorly in the long run, which would otherwise turn into major financial losses on your part.

You must first set a precise figure that you wish to invest as well as the percentage of returns you'd like to receive per year. For instance, you can target a 10% return on your investment for the next coming year in order to achieve your financial goals.

Let's take a look at the 5 categories of investment strategies:

How to Look at Investing Options

1. Value Investing

This strategy involves buying and holding. This is where you buy underpriced stocks and wait for the prices to appreciate over time. Value investing requires a lot of fundamental research in discovering such kinds of stocks and a lot of patience in waiting for the value to appreciate.

2. Growth Investing

This investment plan involves directing all effort towards capital appreciation. Investors spot companies with the potential for rapid growth in terms of profit and revenue. 

The share prices for such companies usually look expensive but are worth the investment. Another form of growth investment is financing small companies with great potential for profit expansion and growth in market share. 

This type of investment is, however, risky as the market trends are sometimes unpredictable.

3. Income Investing

This is a great strategy for accumulating revenue over time; it involves purchasing securities whose returns you can receive under a constant schedule. 

The upside of this type of investment is that it offers you a reliable flow of income with minimum risks that may only compromise an insignificant portion of your investment.

4. Small-Cap Investing

This is an investment strategy that involves purchasing small company stocks that have minor market capitalization. This category of stocks usually goes unnoticed and doesn't usually have as many inflated prices as large-cap stocks. 

For this reason, small-cap stocks tend to be more appealing to investors. However, small-cap stocks are very hard to trade; therefore, they should only be purchased by experienced investors.

5. Socially Responsible Investing

This involves buying stocks from environmentally friendly organizations. These organizations tend to stay competitive with rival companies because of their socially friendly nature. Investors enjoy putting their money into such organizations knowing it may present an advantage for everyone.

Choosing the Right Investment Strategy

Before choosing which type of investment you want, it is best to first figure out which one best suits you and your financial position. You need to determine what returns you'd like to receive, the kinds of risk you are willing to tolerate, and how much you want to invest. 

Only after understanding these queries will you be able to set up your investment strategy. In the end, the flexibility of your income will depend on your risk tolerance.

Should You Invest In Stock Options?

Generally, stock options are considered to be the experienced traders’ forte. But, it can be a helpful tool for individual investors too. In fact, experts say that when carefully chosen, stock options can be equally beneficial for investment purposes, and not just day trading.

Knowing how do stock options work, will help you decide whether to put your money in it or not.

Stock options have been around for quite some time now, but they have only recently started getting the deserved attention. Investors mostly avoid stock options as they do not have a clear idea about them. 

They think it to be sophisticated, hence challenging to understand the investment. Brokers and investors must be offered proper training on the right ways to use stock options. Only then will it get the worth that it deserves.

Due to the lack of understanding, negative words like “risky” and “dangerous” are associated with the overall financial markets and their various components. The stock option is no different in this case. 

However, as an investor, you must investigate the model before making any decisions about the option value. But believe it or not, there are some sheer advantages of investing in stock options too.

Let us find out what advantages stock options can offer.

Cost-efficiency

Options come with great leveraging power, similar to the stock position, but in a cost-saving way. For example, if you want to buy 200 shares of $80 stock, you would need to invest $1600. 

But if you purchase two $20 calls, where each contract would represent 100 shares, then you would only have to pay $400. You will be able to use the additional $200 at your discretion. 

However, things are not as easy as it seems. You would have to make the right call to mimic the position of the stock properly.

Less Risky

Depending on the situation, buying options can sometimes be riskier than owning equities. But there will be times when options are used for reducing the risks. It mostly depends on your usage pattern.

Options are a dependable form of a hedge, and that makes them safer than stocks. While an investor is purchasing stocks, a stop-loss order is usually released to protect the stock’s position. 

This order helps to stop losses below a predetermined position which you will identify as an investor. However, the problems with these orders lie in the order itself. 

The stop order will only be executed when the stock trade goes at or below the predetermined margin by the investor indicated in the order.

It is essential to remember that the stop-loss order only works when the market is open. It does not apply at night. So if a given stock opens below your predetermined margin when the market opens, you will have to make the first trade with that amount. It means that the stop-loss order will not work in your favor when you need it the most.

In such cases, the put option offers some excellent protection. They are operative round the clock and will not stop as the market closes. They will be your 24*7 insurer, which is why most investors consider this their dependable form of hedging.

Higher potential returns

Every investor invests their money intending to get higher returns, and stock options increase that chance. With this investment model, you will spend less but get almost an equal profit, which means the percentage of income would be higher. It is one of the main benefits that attract a lot of investors towards options.

More strategic alternatives

The options offer more strategic investment alternatives. They are pretty flexible, and there are many other ways to use options to recreate other positions. These positions are popularly known as synthetics.

The primary aim of synthetics is to present investors with different ways to achieve the same investment goal. The option helps investors to trade in stock movements along with the passage of time and volatility movement. 

As an investor, you would notice that most of the stocks do not have significant moves most of the time, and you can take advantage of this stagnation as it can decide if you have reached your financial goals.

How to Invest in Stocks in Saudi Arabia: A Beginner's Guide for Getting Started

If you have never invested in stocks before, it can all seem a little overwhelming. There are so many options available, so many people giving you advice on what you should and shouldn't do, and, of course, the unpredictable nature of the market itself. 

No one wants to take the time to demonstrate how to invest in stocks for beginners; they just want to get you investing in their project as quickly as they can. But we're here to help. Here are a few essential pointers to get you off to a good start.

Know Exactly How Much You Have to Invest

No one invests in stocks to lose money, but if you want to make this a long-term project rather than a flash in the pan, you will need to have a clear idea of your budget. Before you commit to investing, set aside an amount that you will not deviate from and know exactly how much you can afford to lose.

Do Your Research

If a friend asked you to invest in their business idea, you wouldn't just say, "Sure, how much do you need?" You would ask them to define exactly what their idea is, what their plans for the future are, and what the potential risks and benefits of your investment would be. 

It's the same with investing in stocks. You need to make sure that you have done your due diligence and understand the risks that you will be undertaking.

It's also important to have a clear idea of the areas you might be interested in investing in. Real Estate is always a popular choice, or maybe you want to be investing in the cutting edge of future tech with robotics. Having a clear idea ahead of time can save you time and stress down the line.

Find A Financial Services Company That You Can Trust

If you're diving into the world of stocks for the first time, you are going to find that there are a lot of businesses out there that are telling you that they know how you should invest your money. 

Of course, some of these firms will be better than others, and it is really important that you choose a financial services company that is both well-connected and trustworthy.

If you're looking at investing in stocks in Saudi Arabia, the award-winning Alkhair Capital offers an incredible range of products and services that are compliant with Shari'ah law, and they are connected with a range of Islamic finance hubs.

Make Sure You Can Stay Connected and Safe

Some people who invest in stocks simply want to put their money in and leave it, like a bank deposit accumulating interest. If you really want to make the most of your investment, you will need to make sure that you can always get the latest updates and react as quickly as possible.

But you are also going to want to think carefully about safety. With rising cybercrime statistics across the world, you are going to want to know that your assets and your personal information are secure. A digital wallet like Quara Pay is a great example of a must-have finance tool for anyone conducting business online.

4 Investment Opportunities You Might Not Have Considered

While the economy and the world at large have seen some hard times recently, investors are beginning to see the light at the end of the tunnel. 

In reality, there are many opportunities out there for making a lot of money. If you are looking for new investment ideas, there are probably many opportunities you have yet to even consider. Below are four.

A Fix and Flip Loan

You may have considered real estate as a possible investment choice. However, knowing what to do with real estate after you have purchased it is another thing entirely. 

One strategy you should consider is obtaining a "fix and flip loan." These are investment property loans that are used to purchase and remodel properties that are viewed as in decline. 

The flipped house can then be sold for a hefty profit. You may have even seen reality television shows based around this investment strategy.

Foreign Debt

While you may have considered buying government bonds from the United States as a strategy for receiving a steady return, you probably have not considered buying the national debt of foreign countries. 

If the country in question is on an upward trend regarding its expanding economy, you could make a lot of money. Government bonds from small European countries with emerging economies like Latvia and Lithuania could end up being an excellent deal in the long run.

Gold

Some of the oldest investments still in existence today are precious metals like gold. While modern currency no longer uses the gold standard, gold still holds an inherent value that is likely to increase over time. 

Gold's value also tends to increase as the value of other investments declines. As such, it's a good choice for adding some extra security to a well-rounded portfolio.

Collector's Items

Another possibility you may have not seriously considered before is investing in collector's items. It is true that you have to be careful about the kind of memorabilia, antiques, and other collectibles you invest in. 

Certain collector's markets have dissipated over the years due to waning interest in specific hobbies like stamp collecting. However, other collector's items, like ancient coins, for example, continue to increase in value. Do your research so you can be confident that a collectible will actually increase in value over time.

Overall, it's never wise to put all your eggs in one basket regarding investments. Be on the lookout for new opportunities that could give you a solid return over time. However, also be sure to build a well-rounded portfolio as you do so to lower the risk of new investments.

Money-Saving Tips to Lift Your Finances in 2021

2020 has been one of the toughest years of most of our lives. The Covid-19 pandemic wreaked havoc on the world and impacted almost everyone in some way. It has been emotionally, mentally, and physically taxing for some and financially straining for others.

Businesses that saw their revenues take a plunge during the pandemic had to let go of a major portion of their workforce. People who lost their jobs or were furloughed in this period had to learn the art of saving money.

Flash forward to today, things are slowly improving and the economy is getting back on its feet. But even without a threat of a pandemic and economic recession, money-saving is a good skill to possess.

If you’re someone who wants to master this art, 2021 can be your year. All you need to do is to follow tried and tested money-saving strategies. 

Be it searching for discount coupons, using financial apps, or making small investments, there’s plenty of things you can learn to lead a financially stable life.

Here’s how you can go about it.

Best money-saving tips to stick to in 2021:

Following are some of the best money-saving tips you should apply in 2021:

1. Create a new budget

It may sound cliché, but to have a great financial year you must have a fresh start. Your first step should be creating a budget from scratch. We all know budgeting is the foundation of a financial tree. 

Your financial needs are specific to you. This means you cannot imitate somebody else’s footsteps to achieve your financial goals. You need to create a system that works for you.

You can get inspired by the people with a successful financial life. However, pick only those habits that work for you. If you want a budget that is easy to follow, make it natural and specific to your financial needs.

To create a budget that works for you, follow the following steps:

• Get a hold of the basics:

Before creating a budget, you must know the basics including your income and your expenses. Keep track of your current cash flow to create a new budget.

• Three pillars of an effective budget:

Every effective and successful budget requires three pillars including automation, tracking your expenses, and an emergency fund.

• Add your values to your budget:

Your budget should be personal to your financial needs. Therefore, before creating a budget, you must identify your values and incorporate them to create a budget that works.

• Select the right budgeting principles:

Choose the right budgeting principles to adhere to. Not every budgeting principal will work for you. Select the principles that suit your lifestyle and your financial goals.

• Create a frequency budget:

Breaking your budget into smaller chunks makes your financial goals more achievable. Dividing your budget into a smaller pay-check-sized frequency budget will make it easier to keep track of where your money is going.

To create a budget that works, you need to set achievable financial goals. This way you will not burn out and quit when your budget doesn’t work for you.

2. Do a “No spend” month challenge:

This money-saving hack is as simple as it sounds. All you need to do is not to spend anything for a month. This does not include essentials for example groceries, fuel expenses, utility bills, rent or mortgage, and insurance payments. 

All you need to do is to say no to additional expenses for a month.

You can cut down various expenses such as non-essential products, coffee, pre-prepped lunches, takeaways, meal deals, movie tickets, and more. 

You should set yourself an end goal and cut down extra expenses to save a fortune. The “no spend” month challenge will put you on the right track to achieve financial goals.

It will be difficult in the beginning but will get a lot easier as days pass.

3. Invest smartly with fintech:

If you want to grow your capital, you should invest smartly. Today, various technologies enable better finance management. 

Whether you are saving for post-retirement life or to pay for your child’s college tuition, using fintech makes it easier for you to achieve your financial goals. 

 Finance technology helps those who are new to financial management or find it hard to stay consistent with their money-saving practices.

• Fintech solutions for smart investment:

For those who are investing for the first time, it can be a scary experience. However, with the latest fintech tools, it gets easier to automate your finances. These tools keep you on the right track and guide where to invest.

You can create an investment portfolio with fintech. It should be based upon the amount of time you want to keep your money invested as well as your financial goals. 

Having an investment portfolio ensures smart distribution and diversification of money. This distribution is based upon your monthly expenses.

Fintech apps allow you to:

• Invest money in a savings or retirement account
• Automate a specific percentage for every part of an investment portfolio
• Distribute of money based on factors such as tolerance to risk

4. Work towards increasing your income:

No matter which stage of life you are at, you should work towards increasing your income. It gives you financial security and makes it easier for you to achieve your financial goals. it doesn’t matter if you have single or multiple streams of income, you should always try to increase your all-around income. 

Having a plan for the future keeps you on the right track and allows you to achieve your goals faster.

You can increase your income in four ways including:

• Working to get a promotion at work
• Get a pay raise while working at your current position
• Look for a higher pay job
• Invest in a business

5. Comparison shopping:

One of the best ways to save money is to shop smarter. This can be achieved through comparison shopping. Before purchasing an item online, look for its alternatives and compare them in terms of pricing. Compare their pros and cons and choose the option that suits your need the best.

With the entire world under lockdown, it is safer to shop online.

Smarter shopping includes waiting for your desired item to get on sale. One of the common mistakes people make while shopping online is forgetting to compare the store, product, or service.

Various browser extensions provide you access to a variety of deals for various eCommerce platforms. You can utilize Buy One Get One (BOGO) offers and find free shipping on your desired.

One of the best Chrome Web Store extensions you can use is the Amazon exclusive extension. You can use this extension to compare stores and make online shopping a lot more convenient.

6. Using discounts and promo codes:

According to the latest data on coupon redemption, over 90% of consumers utilize coupons in one way or another. Paper coupons were extremely common in the past. 

People used to cut out coupons from newspapers to redeem in-store while shopping for groceries and other essentials. While they are still popular today, digital promo codes are gradually taking their place.

These coupons are available on mobile apps, social networks, websites, and emails. In 2019, over 25 million people in the US redeemed coupons through couponing apps to save money on their purchases. 

Coupons allow people to save money regardless of their social status. If you want to save more money in 2021, you should redeem as many coupons as you can.

Wrapping up!

2020 has been one of the life-changing years for most of the world. The increasing uncertainty is causing more people to get into the habit of saving. 

There are various money-saving tips you can follow to make 2021 one of the best financial years of your life. By following the above-mentioned tips you can add more financial balance to your life.

4 Easy Ways to Get Started With Investing

If you are thinking about investing but concerned about risks, here are some easy ways to start. You don't have to put thousands of dollars into an investment account or spend hours each week tracking your funds. Many people start in a low-key way as they begin to learn about the wisest and safest ways to invest.

Start Small

For pennies a day, you can invest in platforms like Robinhood or Acorn that let you spend small amounts to buy portions of stock shares. 

One strategy is to sign up with a micro-investment service that enables you to invest small amounts that gain value over time. Some programs will round up your purchases to the nearest dollar and invest that amount to grow your account. 

Many investment services are automated, so you can do most of the trades instead of paying others to invest for you.

Keep It Simple

Enroll in an investment program that withdraws a certain amount from each paycheck automatically. You will never miss the deducted sum, especially if it is relatively small, such as $10 to $100. 

In a safe, low-risk account, your funds will increase over time. All you have to do is check on the account periodically to ensure it is moving in the right direction without errors. 

You may want to open an account with low or no service fees.

Talk to a Stockbroker

If you prefer to start with a larger investment sum like $500 to $1,000 or more, you might want to consult a stockbroker for advice. You can discuss the level of risk you are most comfortable with, such as low, medium, or high risk. 

You don't have to invest funds through an investment firm, but you can discuss the basics of getting started with an experienced broker who can answer questions to help you get started.

Consider Crypto Currency

An investment that has exploded more than once in recent years is crypto currency. Digital funds, while still now widely used for everyday financial transactions, are being increasingly integrated into global economies. 

Some investors who bought sizable amounts of the bitcoin currency when it first started a little over ten years ago are now millionaires. Check out the trading price on shares of available crypto currencies, and you may want to buy BTC crypto in a small amount to see how it fares in the next couple of years.

Successful investors often start with small and simple methods. Explore these options further to decide if you are ready to give investing a try.

How to Keep All Your Long-Term Investments Protected

When investing your hard-earned money, you likely have yourself a pat on the back for doing something responsible. After all, people have long screamed from the rooftops that it’s better to invest your money than to spend it all on frivolous purchases. 

Unfortunately, this responsible decision can start to look like a major mistake if you end up losing money instead of making more. Certain investment strategies are inherently risky, making serious losses a real possibility. 

In order to avoid such a devastating outcome, you should consider taking steps to make your investments safer. Here are four moves to consider.

Pursue Diversification

The market is an unpredictable environment, and you never know which stream or river will be the next to become poisoned. That’s why it makes sense to make a wide variety of investments so you’re never too dependent on the health of anyone quadrant of the ecosystem. 

You should never invest all your savings in just a handful of stocks. Instead, consider spreading your money around into various sectors and industries.

Invest in Non-Correlating Assets

Certain changes in conditions will affect large blocks of companies in similar ways. A change in regulations, for example, could hurt tech companies while giving traditional news publishers a boost. 

You should study these types of market forces and invest in companies who stand to have opposite reactions to major changes. That way, you’ll never see your entire portfolio wiped out by a single development.

Buy Bonds Rather Than Stocks

While stocks are among the most lucrative investments, they’re also among the riskiest. The market usually trends upward, but it’s volatile and subject to collapse. 

Bonds are much safer investments because they’re guaranteed by the government. You won’t earn too much in interest, but your money will be better protected if you move it from stocks to bonds.

Hire Experts to Rework Your Investment Portfolio

While you can learn a lot about investments by doing your own research online, you’ll never have the full understanding that true experts enjoy. 

To really protect your investments, you should consider hiring professionals who specialize in asset management. They’ll know exactly where to put your money to keep it safe.

You want your investments to increase your wealth, not wipe it out entirely. That’s why you need to go the extra mile to keep your investments safe. All the measures above should help keep you on secure financial footing.