6 Money Hacks To Apply To Daily Life In 2018

6 Money Hacks To Apply To Daily Life In 2018 5
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Are you always worried about money? Are you interested in how to save more, get more money and spend less? Do you also wonder whether you’ll have enough when you get older? If so then you’re not alone. There are so many people that have money concerns. However, ignoring these concerns will not make it go away. Instead, it will cause bigger issues as time goes on. So, rather than running away from managing your finances, you can start to run towards it.

money hacks to apply daily

One great way to start is by adopting these six money hacks which will help adjust the way you spend. In addition, it will boost the way you earn and amplify how you save with very little effort. The fun fact is that its an everyday way to create a positive relationship with your money. These money hacks have been broken down into three categories: Saving, Earning, and Spending.

Saving Hacks #1 Do a personal economic shutdown

This may be very extreme, but, a personal economic shutdown is an awesome way to do a financial cleanse. Have in mind that this cleanse will put an end to that vicious cycle of overspending and undersaving. During this shutdown, you’re only allowed to spend money on what you need and nothing more. It obviously does not sound like a lot of fun. However, the results are always great. In fact, you may end up saving anywhere from 30-50 percent of your income.

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Saving Hack #2: Tip yourself

This is a very easy money hack which can add a lot to your wallet. It’s that simple. For instance, whenever you find yourself in a tipping situation, tip yourself the same amount. You can apply this to when you go out to dinner and you tip your server $10. You can also put $10 into your own savings account. It’s a very positive spin on savings that can really help.

Spending Hack #1: Spend only cash

Make sure that in whatever you do you don’t forget this rule. Make sure you spend cash only. It is a very effective mind trick. Although, it sounds extreme, its really a good way to avoid overspending. Usually, the rule is that if you run out of cash, you’ll have to wait until you make more money to spend again. To effectively achieve this, you have to do something called the “Denomination Effect.” What this does is that you spend lower when an equal sum of money is represented in a single large bill. For instance, you can get the cash you need for the week in big bills like 50s and 100s. When you have such amount, you’d be more into cutting your rations than overspending.

Spending Hack #2: Cut up your credit cards — but don’t cancel them

When you open and close various lines of credit, it can be a red flag to your next lender. So, it’s not like I’m advocating that you cancel your credit cards. However, it’s best to cut them up or place them where it is not so easily accessible. For instance, don’t take your credit cards when you’re out shopping or going for a dinner. Just pretend that your card is unusable.

Earning Hacks #1: Get your rewards…and use them

If you have not put your cards away temporarily or cut them off, then be sure that you’re getting something out of the credit you have.

Earning Hack #2: Sell your stuff

There are so many times that you have a bunch of stuff you’re not using anymore. It could be some clothes or a bag you’re not using anymore.
Although giving away to charity is always a good thing to do. However, you should also consider gaining back a little of that money through one of the many new safe online options through which you can sell goods. Companies like Jiji.ng, OfferUp chairish, etc can serve as a good platform. Even Facebook has options for buying, selling and trading.

About the author


The real big brother, Boda Wale, I share things I hear, see, know, or imagine. Web/App developer at EKIAA.COM. An award winning bathroom dancer, Popsy Temileyi Zoe (by God's grace).

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