Money may not bring us happiness, but it certainly does make life and the pursuit of happiness a whole lot easier. Financial freedom gives you very real freedom and that is why we should all be doing more to increase the amount of money we have at our disposal.
With that in mind, here are some simple money hacks that will help you to gain greater financial freedom now and in the future:
It’s an old one, but it’s a good one. So many of us now use our credit and debit cards or even our phones to make instant payments. That’s the problem – it’s instant. You don’t even have to think about it! By using cash more often where possible, you can ensure that any transactions you make feel more real, and give yourself a little more time to really consider your purchases.
Buying shiny new gadgets might feel good…for a day or two, but after that the shine rather comes off. So, it makes sense to, where possible buy used stuff instead of new products that are typically far more expensive and not really any better than something that has been used for a little while. This is a particularly good point when it comes to buying cars, which have huge depreciation costs when bought new, and rarely represent value for money. There are many companies that offer high quality used vans and cars alternatives, and it makes sense to choose them. The less money you spend on new stuff, the more money you can save, invest and grow for your future.
Keep a List of Stuff
Another thing you can do to spend less is to keep a list of stuff you want for a month before buying. Whenever you spot something you’d like, whether it be a new dress or a car, put it on the list and wait 30 days. If after that time you still want it, go ahead and find it, but you may find that a period of cooling off has curbed your impulse to splurge and it’s no longer desirable to you.
Transfer Small Amounts
If you find it hard to save money, try transferring small quantities from your current account to savings on a regular basis. $20 here and there probably won’t be missed, but if you send them regularly, they will start to add up and get you used to saving more and more over time.
The best way to see your money grow is to invest sensibly. Interest rates aren’t great right now, so you need to do more than just put your money away if you want it to give you financial freedom in the future. It’s a really good idea to get investment advice from a professional before you invest, but if you can’t afford to do that, doing as much research as you can is essential.
To make it really easy, why not start out with one of the many available investment apps? They simplify the process and set you off on the right track.