3 Modern Ways to Save Money Per Month

The road to prosperity begins with one action: saving. If you can save enough money per month, you’ll have extra funds to spend on something. Over the years, financial experts have developed numerous saving strategies. Most of them were effective, while others have finally run their course.

In this modern life, using the right savings strategy is crucial. To get you started, here are some saving strategies you can try:

Open A New Savings Account

While considered an old strategy, opening a savings account gets a new treatment per year. Banks are the typical sources of savings accounts, but smaller credit firms are also great alternatives. Also, it’s important to know that savings accounts vary. Some accounts may have small interest gain (less than 1% per annum), while others can go higher in exchange of heavy conditions. The barrier of entry for a savings account has also been minimized by a large percentage.

Turn A Portion of Your Money to Digital Assets

If you want to save and minimize your financial risk at the same time, you can turn a portion of your money as ‘seeds’ for digital assets. What are the assets that you can try? Cryptocurrency is one example. There are lots of cryptocurrencies to choose from, particularly Bitcoin and Ethereum.

Study these virtual currencies and find ways to obtain a wallet. Other digital assets are websites, master resale rights, small online investments, incubation initiatives, peer to peer networks, and countless referral programs. Just be careful in choosing your digital medium.

Try a Savings Challenge

One common trend in social media is the proliferation of savings challenges. One challenge is to keep away a certain bill. As much as possible, you shouldn’t spend this bill. Put it in a savings account that you cannot touch. If you do this every week, your savings will definitely compound.

At the end of the year, you have a sizable financial stash that can be used anyway you want. Do a simple Google search about these savings challenges. You’d be fascinated with people’s financial creativity!


Saving is a matter of financial discipline. If you’re not financially disciplined, any saving strategy won’t be effective for you. Before trying any strategy, make sure that you’re ready for the responsibility. Do a bit of a vision check and imagine how the future would turn out if you save money now. It will be challenging at first, so don’t be too hard on yourself!

3 Pieces of Advice for People with Multiple Loans

From time to time, we’re bound to encounter financial problems that can lead to debts. These problems will pass for some folks, but there are some who seem enslaved by their loans. If you’re one of these people, the first thing that you have to do is take a deep breath and distance yourself from your troubles. Once you’ve calmed down, you can now apply some useful strategies on dealing with your multiple loans.

Budget Seriously and Wisely

Serious budgeting is always the problem of many people. Many people claim that they know how to budget, yet less than half are truly keen on budgeting. If you really want to get out of your debt trap, you need to have a budget plan. Determine how much should you spend per month and how much should come in. Keep your budget plan as flexible as possible and stick to it. There should be no excuses.

Don’t Take Out a New Loan

In rural areas and towns, one common strategy is to apply for a loan and pay off all other debts. This is a risky strategy because you’ll sink in debt faster than a torpedoed ship. The interest rates will just keep on getting higher and only a miracle can save you. Rather than taking out a new loan, focus on maximizing your income opportunities. If you don’t have income, find ways to secure one. You can try selling your services, especially if you have a skill. Your community may also need your service, so feel free to volunteer even if the pay is low. From there, you’ll be able to get up and repay your loans.

Find a Professional Loan Consolidator

Loan consolidation is one of the best financial strategies that will help you overcome debt. Through a loan consolidation process, you can seek the help of an expert to combine all of your debts into one central debt so you only need to pay one interest. This takes time and proper negotiation methods. Before opting for consolidation, keep in mind that the professional may ask for a fee. Also, not all lenders will adhere to consolidation. So, keep your options open.

Having multiple loan responsibilities is not an easy problem to overcome. More often than not, borrowers are trapped in the cycle of loans and recurring interests. Whatever happens, do not give up – you can whittle down your debts as long as you adhere to your financial plan.