Sign Up for the ZPrize Competition!
Published at Nov 25, 2021 by slogging
- Read
- Top Stories
- Write
Writer Contests Writing Prompts - Learn
Self-Paced Courses Tech Deep Dives Build Skillzz - Apply Psychology of Colors
- Auto-Generate Graphics
- Build Frontend for Ethereum dApps
- Build a Private Blockchain
- Create Generative Art with Python
- Choose the Right Kubernetes Container
- Get Featured on Product Hunt without Hunter
- Go Serverless with AWS
- Hack Smart Contracts
- Host Your Git Server on Raspberry Pi
- Implement QA Properly
- Insert Binary Tree in Rust
- Learn Anything
- Measure Technical Debt
- Protect Your Code with Gulp
- Write NFT Smart Contracts
- About
- Help
- Partner
- Shop
- Tech Co Directory
Clever Financial Hacks You Need to Try
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.
Slogging (Slack Blogging)
Your Slack? Insightful words by highly intelligent people. Your tech blog? Not so much. Write together. #SloggingBeta
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.
What clever financial hacks have you discovered throughout life?
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
Do you track it? With an app or do it the old school way?
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
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?
Jack Boreham, Abeer, Limarc Ambalina, Daniel Guzman what about you guys?
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.
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
Not go out 😂
😂 3
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
Sara Pinto, yeah bank apps come in handy. It makes it so easy. Wouldn't a tracking app make it easier for you?
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. 😂
Jack Boreham, no social life? I have a feeling you loved lockdown 😂😂
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?
Mónica Freitas, maybe! Unfortunately, I haven't had the chance to explore what's out there yet. Do you know yet?
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
Mónica Freitas, oh, thanks! I have to try them out.
Sara Pinto, let me know how it goes!
Limarc Ambalina, are there any financial hacks have you discovered throughout life?
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
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!
Limarc Ambalina The first one is amazing. I think I might just start that!
Limarc Ambalina, that saves a lot of money. I lose a lot in transfer fees.
Tags
Related Stories
The Worst Gift Ever? What to Avoid this Holiday Season
A Much-Needed Truce Between Uber Drivers and Taxis
Published at May 17, 2022 by saragpinto
My Fascination with Wall Street and Warren Buffet
Published at May 16, 2022 by finanzsache
Learning About Crypto with Nicholas Gregory from Mercury Wallet
Published at May 16, 2022 by slogging
An Introduction to Decentralized Currencies
Published at May 15, 2022 by steven11
Are Nordic Nations Happier than Others?
Published at May 15, 2022 by saragpinto
