2020 has been an extremely tough year for millions of people around the world thanks to the coronavirus pandemic. Aside from the devastating loss of lives – with that number still growing – millions of businesses have been forced to close their doors for the last time; therefore creating millions of unemployed people. Other businesses have been forced to let go of treasured members of staff, creating even more unemployment. Whether you’ve been a victim of the pandemic, or you’ve managed to get by, you may be looking at how you can be smarter with your money in 2021 to avoid financial disaster. Here are some tips on how to do exactly that.
You want to make as much money as possible, right? But, your job can only offer you a set amount of hours, so what can you do? Starting your own business on the side is not only a great way to make some extra money, but it’s an opportunity to take your career in a completely new direction! Whether you choose to start a blog, offer out specialist services, or even pick up some freelance work, your earnings are limitless! Start up a side hustle to build up your bank balance ready for those times where you need it the most.
Millions and millions of transactions are made every day, and especially since the pandemic hit, a large majority of these transactions are made online! However, spending or transferring your money online isn’t always safe, and you should learn how to safely move your money around. You might choose to buy xrp ripple as a safe currency exchange and remittance system. This could also be effectively used for your side hustle to make overseas transactions as safely as possible. Remember before moving any money anywhere to always look for the padlock symbol in the web address bar. If it’s not there, don’t use it.
How often do you look at your bank statement when it comes through each month? The truth is, many people simply glance at the balance and get on with their day. Taking some time to vet your bank statement for any unnecessary direct debits or spending will allow you to make necessary changes to your spending habits. Whether that’s getting rid of that gym membership you’ve barely used, or ordering takeaway less frequently, you’ll be able to free up more cash to put away for a rainy day.
Finally, saving is important whether you’ve got something to save for or not. It’s a great way of having a lump of cash for those times where you need to replace an old appliance or repair your car. Compare savings accounts online and find one with high interest to help build your hard-earned money further. Even if you’re only depositing a small amount each month, you’ll soon begin to see a growing sum of money that gives you extra peace of mind.