Everyone is always on the lookout for ways to save money, but sometimes we ignore the fact that we're actively wasting money every day. Here are 10 ways you might be letting money slip through your fingers.
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Let's face it: as a general populace, we aren't great at managing money. But it's no wonder why: From taxes to investing to debt-busting, there's a lot that goes into financial planning. And while we're all for learning to do it yourself, there are a number of reasons you'd enlist the help of an advisor. Here's when you might need one, where to find one, and how to make sure you pick one that meets your needs.
A higher salary will do more for your finances than pinching pennies ever will. However, if you don't learn to be frugal with a little bit of money, you'll probably end up with the same financial issues when you start earning more. Or, as financial author Patrice C. Washington puts it, "how you manage $100 is likely how you'll manage $100,000."
For a long time, I had a huge fear of not having enough money, and it actually made my finances even worse. There are a lot of ways to shift this mindset and overcome your financial fears. Giving back may be one of the simplest options.
The popular US finance app Acorns is now available in Australia. Like the nut it is named after, the app takes something small -- your leftover change -- and attempts to grow it into something much bigger. This is achieved by automatically investing the money into a diversified portfolio of exchange traded funds (ETFs) whenever you make an online purchase. Here's how it works.
We've said it before: money has a lot to do with mindset. When your money is harder to access (it's illiquid), you're less prone to, well, access it. That much is obvious, but according to a study published in the US National Bureau of Economic Research, most people know this, and that illiquidity actually inspires saving.
You're probably still not quite over the emotional letdown of not winning the Powerball. Well, good news! There are tons of contests online you can enter. With a dummy social media account, you can enter all of them without annoying your friends.
You might have saved a few hundred bucks during last month's challenge -- that's great! However, if you succeed at this month's challenge, you'll save all year long. February's challenge: bill haggle day.
Years ago, I vowed to learn everything I could about investing in one afternoon. It seemed like so much information, but I figured if I just studied up on it, I could figure it out. It didn't work. You know what finally did help me learn about investing? Just getting started. All it takes is one step.
Determining Australia's economic health can be pretty difficult for the layman -- with gloomy economist forecasts, dubious government spin and constant mud-flinging in Parliament, the overall picture is never crystal clear. Thankfully, our chums over at Business Insider have produced some graphs on the topic -- and the outlook is rosier than you might think.