6 Personal Finance Hacks of 2021
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Six things you can do right now to make your 2021 a better year is to make small adjustments that can create better money habits. We all want a less stressful way of living, why not commit to making a few small changes?
1. Ask your employer if they offer a 401(k) and sign-up for this immediately. They may offer to match you dollar for dollar up to a certain percentage and you do not want to give-a-way free money. (A 401(k) is a qualified retirement plan that allows eligible employees of a company to save and invest for their own retirement on a pre-tax basis)
2. Setup an online bank account and automate $20 to go directly into that account. Label this account for what you would like to save for such as emergency fund, student loans, vacation, Christmas etc. You can even setup as many of these account as you like for your different money goals.
3. Open up a Stash, Stockpile or Robinhood account and automate $20 to go directly into this account. Do you research and see which platform works best for you and is more user friendly. This will allow you to buy fractional share of stock even if you cannot afford to buy a whole share. For example, as of today Amazon stock is trading at $3,104.25 per share, you can still by a small piece of amazon even if you cannot afford to by a whole share at this time.
4. Write down all of your debts so that you can create a plan for paying them off. If you don't know how to find out who you owe the easiest way is to set-up a credit karma account so that it is easily accessible. There are other ways as well but if you need more guidance check out my website a little further on www.investyoungmoney.com
5. Use cash more than card. Cards make it too easy to spend money, when you use cash it eliminates the possibility of overspending, account overdraft or being charged interest.
6. Before swiping a card, clicking a few buttons or putting something else in your cart ask your self "do I really need this?"
We can all achieve our goals in life if we just commit to taking one step at a time and it is okay if you need help in doing so...never be afraid to ask a question....