Taking care of your own finances can make a big difference in your life. So whether you're trying to improve your savings or just reduce how much you spend monthly, this slogging article is for you. In this thread, our community shared a few clever financial hacks you need to start using today. This Slogging thread by Mónica Freitas, Sara Pinto, Ishan Pandey, Daniel Guzman, Jack Boreham, Abeer and Limarc Ambalina occurred in slogging's official #startup-hustle channel, and has been edited for readability. Mónica Freitas Jan 17, 2022, 12:07 PM What clever financial hacks have you discovered throughout life? Sara Pinto Jan 18, 2022, 2:44 PM Mónica Freitas, recently, I started to write down every cost I had in each month. This way, I can control how much I spend on unnecessary things, or at least draw attention to it, so I don't make the same mistakes again. At the end of the month, I balance how much I started with and how much I spent. Ishan Pandey Jan 18, 2022, 7:27 PM Do you track it? With an app or do it the old school way? Sara Pinto Jan 19, 2022, 11:36 AM Ishan Pandey, right now, I'm doing it the old school way by using excel, but only because I didn't take the time to search for an app for it Mónica Freitas Jan 20, 2022, 8:54 PM Sara Pinto, oh, that's smart. I've thought about doing something like that but always end up forgetting. How long have you been doing that? Mónica Freitas Jan 24, 2022, 11:57 AM Jack Boreham, Abeer, Limarc Ambalina, Daniel Guzman what about you guys? Sara Pinto Jan 26, 2022, 1:44 PM Mónica Freitas, I started this month. I have a friend that already does it, and I thought: "why not?". Lately, I've been forgetting to put all of my costs, but since I have my bank app, it's much easier to check what I spend. Daniel Guzman Jan 26, 2022, 8:44 PM Heeeeey! I started to pay my bills automatically with my bank.Doesn’t matter if there's still time for the due date but as soon as I get my payment, I paid everything. Besides that, recently a friend of mine recommended I use “pockets” inside my bank’s app to make sure I don't spend more than what's necessary. 🔥 1 Jack Boreham Jan 27, 2022, 11:28 AM Not go out 😂 😂 3 Abeer Jan 27, 2022, 3:41 PM Mónica Freitas, I have multiple bank accounts. I have a central account to hold my direct deposits. I have it set to automatically transfer a certain amount from each paycheck to an account to cover my bills and a certain amount from each paycheck to cover another account as a “stipend” for my everyday spending. I then have a list of tasks that I need to get done and each time I complete a task, I send some more money to my “stipend” account. The day before I get my next paycheck, I transfer the remaining amount into my Savings/Emergency fund. It forces me to save money and motivates me to work harder if I want more spending cash. 🔥 1 Mónica Freitas Jan 27, 2022, 8:41 PM Sara Pinto, yeah bank apps come in handy. It makes it so easy. Wouldn't a tracking app make it easier for you? Mónica Freitas Jan 27, 2022, 8:47 PM Daniel Guzman, that's smart. I'm doing the "pockets" thing, too. I've assigned values for each pocket. As soon as I get my paychecks, I divide them between the different pockets. That way I don't spend what I shouldn't. 😂 Mónica Freitas Jan 27, 2022, 8:48 PM Jack Boreham, no social life? I have a feeling you loved lockdown 😂😂 Mónica Freitas Jan 27, 2022, 8:52 PM Abeer, that's a great strategy. I'm starting something similar though I don't transfer the remainder of the month to savings. I probably should. Do you use any app to help you track your expenses? Sara Pinto Jan 28, 2022, 11:05 PM Mónica Freitas, maybe! Unfortunately, I haven't had the chance to explore what's out there yet. Do you know yet? Mónica Freitas Jan 31, 2022, 11:48 AM Sara Pinto, I haven't tried them yet but Mint and PocketGuard have very good reviews. There are other apps but they're paid. You can check them here if you want: https://www.investopedia.com/best-budgeting-apps-5085405 Sara Pinto Jan 31, 2022, 11:17 PM Mónica Freitas, oh, thanks! I have to try them out. Mónica Freitas Feb 1, 2022, 4:45 PM Sara Pinto, let me know how it goes! Mónica Freitas Feb 1, 2022, 4:46 PM Limarc Ambalina, are there any financial hacks have you discovered throughout life? Limarc Ambalina Feb 1, 2022, 4:52 PM Ah if this question is about any saving money hacks or banking hacks, then yes. 1. In Japan, there is so much cash, most people still use cash. Some places don't accept cards.  So I have a coin jar and my saving money hack is whenever I enter my house, if there are coins in my pocket, they go in the jar. On average I save $200 - $250 USD a month using that jar. 🔥 1 Limarc Ambalina Feb 1, 2022, 4:54 PM 2. Transferwise (Wise) for international bank transfers the idea is genius and saves you a huge percentage in international transfer fees. The reason transferring money from Canada to Japan or vice versa is that the money crossing international waters. In Wise's method, you don't transfer anything internationally. You transfer money from your Japan bank to Wise's Japan bank. Then, Wise will transfer the equivalent amount (minus their tiny fee) from their Canada bank to your Canada bank. Genius! Mónica Freitas Feb 1, 2022, 4:57 PM Limarc Ambalina The first one is amazing. I think I might just start that! Mónica Freitas Feb 1, 2022, 4:58 PM Limarc Ambalina, that saves a lot of money. I lose a lot in transfer fees.

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