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When you are working towards a huge money goal, sometimes it can feel overwhelming. You need to keep track of everything that is going on as well as developing some new habits.
That’s why I am a big fan of using all the tools and tech that’s out there to help me out. Why not let an app do the job rather than you?
Here is a list of my favourite tools to help you smash your money goals:
A budget is an absolute non-negotiable when trying to get ahead with money. If you don’t have one, it’s like trying to swim through custard. You might make some progress but you’re not going far.
It does not matter whether you want to complete a budget on paper or prefer to use a spreadsheet. The important thing is to have one and record everything on it.
Your budget should include everything that you have coming in and exactly what you intend to do with it down to the last penny.
I recommend doing a full budget at least once a month, but completing a weekly check-in to make sure that you are still on track. You can do any adjustments then too.
This is a huge motivational tool for me. I use an income tracker to record ALL the money that comes my way.
When you have several side hustles on the go, this is a great way to record and track your progress. It also makes you realise how successful you have been over the last month.
This can then inspire you to push for greater success the following month. It is also a good way to show gratitude for all the money that comes to you.
Hopefully, after you have created a budget, you will know how much money you are going to be saving each month.
You need to create a standing order that moves this money from your current account to a savings account. By automating this, you will make the same payment into your savings account every month without any effort from you.
An extra trick would be to move it to an account that makes it slightly tricky to get back out,. Therefore, making it harder for you to take it out.
You could have more than one savings account with different withdrawal limits, so that some of it is REALLY hard to get to and some of it easier.
When you have to spend money, you might as well spend as little as you possibly can. You’ll get the same product in the end.
Quidco has just launched a new Chrome extension that will tell you when you do a Google search how much cashback is available through that retailer. It makes it very simple.
Almost all banks have a dedicated app these days and some of the best banks are now app-only, like Monzo and Starling.
Having these on your phone allows you to easily keep track of your spending and make transfer and payments with a few clicks.
They will also allow you to set budgets to stay on target for the month ahead. You will be able to categorise your expenditure for future analysis.
These apps will make small monthly withdrawals from your accounts, after looking at what you can afford. They then save or invest this money for you.
You should barely notice these payments going out and the amount of money should grow steadily. You can then check on them once a month to see how they are doing and add the total to your savings pot.
You set your goals because you wanted to achieve them, so why not throw everything you can at it? These tools exist to help you, so go on and use them.
Disclaimer: Remember the information you read here does not represent advice. Any ideas or suggestions are just that and may not work for you. Read the full disclaimer here.
Looking After Your Pennies is an eco-friendly personal finance blog written and managed by Charlotte Jessop.
I write on a variety of topics including frugal lifestyle, eco-friendly living, money making ideas and generally how to make your money go further.
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