How To Keep More Of Your Money In 2021

Everyone is always looking for ways to save money. But, as the COVID-19 pandemic is still ravaging the world, saving and keeping more of your money has become even more important.

There are many money-saving tips out there, as well as ways you can cut back on your everyday expenses that will help you achieve your financial goals. Here are some ways that you can keep more of your money in 2021.

Budget for Savings

Many people want to save but just have trouble actually doing it. One of the biggest reasons why people don’t follow through on saving money is that they treat saving as a dream and not a defined goal.

A great way around that is to put savings into action by including it on your monthly budget. You should have a line item on your monthly budget dedicated to savings — just as you do for your mortgage, cellphone, internet, food and other bills.

When you budget in savings, you are much more likely to actually do it. Then, after a while, saving becomes second-nature rather than forced or a dream.

Protect Against Fraud

There are scammers everywhere. Most are pretty easy to spot, but there are plenty that are getting quite astute.

During the coronavirus pandemic, more and more people have fallen victim of scammers who defraud them of their money, and steal their vital information. This can happen in all phases of your life, too. Scammers will try to call you to get information from you by threatening police action, for instance, if you don’t respond to their sham.

Even entertainment options aren’t protected from fraud. When you’re trying to have fun by playing at online casinos, you could be susceptible to losing your money to fraud. That’s why it’s always a good idea to use recommended online gambling sites when you are risking real money and providing your sensitive personal information online.

Take Advantage of Help

Many countries created financial incentive programs during the pandemic to help their citizens get through difficult financial times. While many of these programs were new, there are plenty of ongoing programs you could potentially take advantage of.

You shouldn’t be ashamed if you take advantage of some of these government-backed financial aid programs. They are there for a reason — to help you when you need them.

In addition, you could keep more of your money by simply asking for it. One example is going to your landlord — if you rent where you live — and asking them for a decrease in rent. Many landlords have been providing rent relief to their tenants during the pandemic.

They know the market for rental housing is sparse right now, and tenants have plenty of choice when it comes to places to live. Landlords would rather give you a break on your rent than having to find a replacement tenant. This could be a significant boon to your bottom line.

Earn Rewards When You Spend

Prices on goods are rising around the world due to inflation, a crunch in the supply chain and other factors. This may mean that you will be spending more money on goods now than you were even six months ago.

While you are spending all this money, you should try to take advantage of every rewards program possible. Some stores will offer rewards programs that allow you to qualify for extra discounts or savings that aren’t available to other shoppers.

Other stores offer cash back rewards programs. For every $100 you spend at their store, for example, you may get a $5 reward that you can use on a future purchase.

There are other ways you can gain rewards, too. Your financial institution may offer you points for your purchases that you make on their debit cards. If they don’t, you could also search around for a credit card that gives you valuable points and/or cash back for each of your purchases.

Some of these credit card rewards program can be quite substantial, too. Even saving 5% on your groceries, for instance, can be a considerable amount of savings on a monthly basis.

At the same time, many financial institutions will offer bonuses for opening an account with them. Some online banks, for instance, will give you a $500 bonus deposit into your account when you open a new checking and/or savings account with a certain amount of initial deposit. This is free money that you can take advantage of without having to do anything at all.