How to Earn Money Online from Forex Trading

Earning money has generally been linked with and limited to traditional ‘offline’ routes. With the Internet advancing and being a major part of our daily lives, the majority of individuals are searching for methods to earn money online in order to augment their finances. This turns into secondary or passive income that can facilitate them to manage their expenses.

If you are looking to earn passive income through an online source, then the forex market arena is a possible method to get profits. So how can you earn online? Forex is a lucrative market with a net worth of approximately $2 quadrillion. It is also a highly liquid market, however, you will need to know the right techniques and strategies to be profitable in this market.
Understand the Market

Prior to executing profitable strategies and putting plans in motion, it is essential that you completely understand the market and the possible risks involved in trading forex. This trading technique is mainly done online, allowing a trader to gain profits or lose money. The trade ensues by purchasing instruments in one currency and then selling it in another. These are known as currency pairs. Knowing when to invest in a particular currency pair is how you can earn online.
Find a Suitable Forex Broker

To be a success in the forex market, it is essential that the broker you partner with complies with the prevailing regulatory framework that conserves the integrity of forex markets. In this market, there is a serious chance of falling victim to brokers who are a scam. There have been numerous occurrences where the traders close their operations after the transaction costs rise and the investor begins to lose their life’s worth of savings. So avoid opting for brokerage firms that have such practices. When you come across a good broker or platform, make sure to research their reputation by reading reviews and how people perceive them online. Best forex brokers shows the pros and cons, and the background of XM brokers. They are reliable and regulated brokers who support webinars and research materials. These permit traders from various international countries to engage and begin earning online.
Practice through Demo-Account Option

Novices in forex trading must take their time to practice using the free demo-accounts that the majority of trading platforms provide before investing real capital. The situations created reflect that of the real forex market. Moreover, it offers an excellent chance for learners to get comfortable with currency trading, recognizing patterns in the market and looking through a variety of trading methods. In addition, traders can extract information, advice and educational videos regarding forex trading when using the demo account. After you have mastered the trading skills on a demo account, then you can get big gains by investing real capital.

Having more than one income stream is essential in this highly expensive world. There are multiple earning sources online. A lot of individuals are opting for online earning methods because it does not require a 9-5 duty time and can lead to major profits.

How You can make Millions From Quora

What is Quora? How does it work? How can you make money by using Quora? How to sign up for Quora? How to use Quora? What are the terms and conditions of Quora to earn money, etc? All these queries are answered in this article.

1. What Is Quora?

As this article is started with the questions and will end up with the answers. Quora works in the same way as this article. Unlike another writing platform, Quora is a simple question and answer platform where you can ask your question as well as you can answer the question of others. These questions are answered by the people who are experts at the particular topic. Similarly, if you are an expert at a particular question, you can answer that question.
2. How To Sign Up Quora?

You can sign up for Quora by using your Gmail and Facebook accounts. When you will search for Quora in the Google Search Engine, you will see Quora's official website, usually on top of the list. After you have clicked on the website, you will see the Sign in and Sign Up options. If you are already a Quora user, you can simply Sign in and if you are not, you can Sign up by using your Gmail or Facebook.
3. Set Your Profile/Add Credentials:

After the successful sign up you will see your Quora profile. It is very important to set your credentials to tell the people that you are an authentic, expert, and eligible person to use Quora. Credential include:
3.1. Name:

Add your official name or business name. It’s up to you how you want to set your profile. If you want to set it as blogging with a particular blog name, you can add it. For example, I set my profile with my official name. I don’t use a blog name for the profile. I will suggest you set a profile with your name because you will have another option for a blog. I will explain it in this article in the coming section.
3.2. Work details:

Add your work experience. It is again up to you how you want to set it. If you are multi-professional, you can add all your profession or you can add one which is the most relevant to your niche.
3.3. Education:

Add your education or diplomas. In the education section, you can add your skill as well. Because it will help people to find you based on your expertise.
3.4. Add location:

You can add your home location, workplace location, or simply add your country only.


To add credentials is optional. You can add your details or you can skip it. I will suggest you add your credentials because it will make your profile attractive to people. And it will help you to grow your audience.

4. What is Quora space?

Quora space is the main source of earning. You can say it is a blog. The thing you should know is, the profile is different and space is a different thing. Such as, we have accounts and publications on Medium side by side. In the same way, Quora profile and Space are different things. It is a must to create a space to monetize your account for earning. You have to add space credentials separately.

4.1. Monetization:

On the right side of your profile, you will see a monetization option—click on it—create space and enable all earning programs. It is as simple as I write here.

4.2. Earning sources:

Based on views and engagement on your content, you may get ads on your post/content. These ads are the primary source to earn money from Quora. Quora doesn’t pay you from its own pockets. So be very clear about the earning sources.

The main earning sources on Quora are as follows:
Ads: As I explained before. You may get ads on your post based on traffic.
Subscription: Subscription is another way to earn money on Quora. You will see the subscription option during the process of monetization, as described in the previous section. You can set a subscription fee for your space. People who will subscribe to you—will pay a particular fee for the subscription to get full access to your space content.
By advertising your website:Third way to earn on Quora is—to advertise your blog or website. Quora is an enormous source to send traffic to your website or blogs. If you have your website—you can share your article’s links on Quora to engage more traffic on your website. Such as, you can share your Medium article link on Quora as well.
5. Is it difficult to get views on Quora?

Based on my experience, it is not difficult to get views on Quora. You will start getting views soon after you have posted a question or answer. However, it is somewhat difficult to get views in Quora Space. This account was created yesterday and I gain 976 views in one day.

6. How many views are required to get ads on the post?

There is no exact answer to this question. It varies from person to person. Some people earn after getting 6k views — some people earn after getting 1m views. The exact structure of views and earnings is not known. However, you can get an idea from the experience of people who works on Quora. For this purpose, you can check the answer of the people under the question ‘‘How Much You Earn On Quora Per Month?’’.You will see variety in their answer. Not all people earn the same amount of money. On average, it is 500$ to 1000$ per month.
7. Final Thought:

Quora is the easy and finest platform to earn money online. However, there is a competition in Quora as well. But if you will be consistent in your work — you can achieve your goal in a small time. Not much effort is required, though, consistency. It is easy to build your blog or portfolio on Quora as compared to other platforms. If you can not spend much time on Quora — only give an hour or half-hour daily. Patience, hard work, and consistency are must required in every profession, skill, goal, or passion. Nothing happens in a day, or a night. If you are getting an opportunity to achieve your goal — investing a small quantity of time for it, is not a big deal.

How to Get Rich in 2022: 11 Bold Moves That Guarantee Wealth

Have you ever asked yourself, “how can I become rich?” Everyone has dreams about winning the lottery and how to become rich overnight. People want to get rich. Just do a search on Google Books and you can see that it’s been a rising trend since the 90s.




Many people are looking for ways to get their first 100K, or ways to invest for a better retirement. Some are trying to succeed as entrepreneurs. People want to have enough money to buy beautiful homes, powerful cars, and great vacations. But not many know how to become rich. How do you become rich?
Being rich is more than about the dollar amount.

Being rich is a state of mind. In a sense, you could be rich but still poor, and vice versa.

You can define “rich” in different ways. There are a lot of people who simply consider it as having a lot of money. For them, rich is equivalent to a being a millionaire.

But rich can also be psychological richness. It is an achievement of being able to live without the worry of money. You don’t necessarily need to own a castle to be considered rich. Everyone can be rich as long as we are able to do what we desire freely and to have the fulfilment in life. The key of it is to live with or even less than what you have. To be “normal” even when you are financially capable to do a lot more.

You might have your own preference on which definition suits you better, but here are some ways on how to get rich. It may help you achieve either (or both) of them.
If you want to become really really rich, make bold moves.

It’s an ambitious goal to become wealthy, and if you’re aiming for that, here are simple ways to get rich.

1. Exploit your skill as a self-employed expert and invest in it.

Make it your goal to do one thing better than anyone: Work on it, train it, learn it, practice, evaluate and refine it. You may find most sports-players or entertainers are millionaires, and that is because they are utilizing their skills fully. If there’s something you’re good at, it is likely you can reap considerable rewards out of it.

It is the same concept of being the top of a particular field. When you are the best at something, you find that opportunities come to you. To become an expert of something, it is crucial to never stop improving. Successful people invest time, energy, and money in improving themselves, and it might just be the most rewarding investment you can ever make.

To get started, figure out what skill you want to cultivate. Make a list of the world’s ten best people at that one thing, and use this list to define criteria and track your own progress toward becoming the best.

If you’re a writer, for example, you might consult the New York Times Bestseller list, and identify the ten successful authors that you admire the most. Learn more about these writers, what they did to be successful, and read some of their work. Invest the time and energy in improving your own craft, by looking at successful past models.
2. Hit $100K, then invest the rest.

Everyone wants to get rich fast. But a goal like this isn’t something you can easily achieve in a short period of time. Instead of thinking of how to get rich fast, aim at saving $100K first.

The small amounts you save daily are powerful. You might only be able to put away $5 or $10 at a time, but each of these investments are your financial foundation.

3. Be an inventor and consider it as an opportunity to serve.

Stop thinking about getting rich fast and start thinking about serving a lot of people. If you think about what people need, or things that could improve society, your insights will have more impact. Not only that, you could be the first to produce a trending product in the future.

When you start to serve a lot of people, the effect of word of mouth is magnified – not to mention, you’ll have much more helpful feedback to improve what you do.

Having the patent of a popular invention could be the fast-lane ticket to prosper. Just look at Snapchat.

It would definitely be challenging, but consider it to be a way of serving, to benefit those who actually need your invention. No business is successful without the support of the public. Rather than squeezing every single dollar out of your customers, show them you are actually working to make them better.

4. Join a start-up and get stock.

Using the same potential consideration of start-up in the above points, owning stocks of one or more start-up companies could be a valuable investment if the company thrives and either floats or is sold to a larger enterprise.

Only a small minority of start-ups succeed in realizing large capital gains, so the odds are not good. However, you can use your judgment to see which business idea and which management team are likely to succeed. Early employees in Apple, Google, and Microsoft became millionaires on this basis.

5. Develop property.

Buying, developing and selling property has always been a major way for people to accumulate capital.

Borrowing could be a key element in this method. Say you borrow $200,000 and put in $50,000 of your own to buy a property for $250,000. Then you develop the property and sell it for $400,000. The property has increased in value by 60% but your $50,000 has now grown fourfold to $200,000. You have to select the right properties in the right areas and develop them wisely.

You are at risk from booms and busts in the property market. However, in the long term this remains a proven way to accumulate wealth.

6. Build a portfolio of stocks and shares.

If you can make steady investments in stocks over a long period, choose wisely and reinvest the dividends then you can build a large store of wealth. Of course stocks can go either way and many small investors lose heart when their portfolio plunges.

But over the long-term, equities are as good an investment as property and much more liquid. Stock market crashes represent great buying opportunities for those with cash and strong nerves.

7. Start your own business and eventually sell it

More and more startup have seen success with great return in recent years. If you can find a new approach towards a specific corner of the market and build a business that addresses that need, then you have a potential of success in it.


It literally can be anything: a cleaning business, a food delivery service, or a blog. It will probably take years of very hard work to build up the enterprise. All entrepreneurs will have to endure great risk and stress. But if you can pull it off, the potential rewards are huge. This is how many of the seriously wealthy people did it.
If you want to become wealthier and live a better life, build simple habits.

If you’re aiming for a stable life with enough money to support a living, start with the everyday things you can do.

8. Find a job in the right vehicle.

Choose a job of your interest – do what you love and love what you do. No one succeeds in doing what they hate.

You might have to start at the bottom and work your way up. But chances are, if you love what you do, it’s easier to make that happen. You’ll actually enjoy the process of getting to the top.

Earn the experience through different levels of work and when you feel like you have gained all that you can from it, consider moving on in other companies would widen your horizon on different business cultures. Putting more experiences in various positions would make you a more valuable asset for companies and making you a better option for higher rank duties.

Consider how the rich are able to get in with the right companies, where there are plenty of opportunities for growth. Seek places where you can grow your skill and are able to multiply your monthly income many times over.

9. Cut your expenses.

The biggest problem in some people’s path of getting rich is that they always spend more than what they earn. Living below your means will be the easiest to get rich.

Consistently track your progress on how much you’re spending. Use an app or simply an Excel spreadsheet to make sure you always know how much money you have what where it’s going. This gives you a proper place to review and refine what does and doesn’t make sense in terms of your spending.

Start cutting the unnecessary spendings in your life. Do what you can to reduce your bills: make sure you turn off the lights, plan meals to save at the grocery store, and be disciplined about eating in. Focus your life with only the necessities and in no time you will be saving a lot more than what you previously did.

10. Save it in your bank.

Set savings goals and routines to support those goals. Figure out ways that work for you in saving money, and refine what doesn’t.

Many banks have the option of creating separate savings accounts, as well as automatic withdrawals. By setting up these automatic transfers, you save passively and have to make an effort not to save.

Another thing you can try is to increase the amount of savings by 1% in every interval you wish. At first, it will be an insignificant change, but as time passes, you will notice a big difference.

Give yourself a reason and motivation to save as well. It is always important to plan for the future and saving for retirement could be a great point to persuade yourself to stay away from excessive spending.

11. Make investments wisely

Investment is much more than pure luck. One investment mistake could tear away a large chunk of your assets. So make sure whenever you are making decisions on investments, whether on properties or stock, think twice. It will be better for you to consider opinions from professionals and experts.

To give you some ideas, legendary investor Warren Buffett suggested to put 10% of the cash in short-term government bonds and 90% in a very low-cost S&P 500 index fund, so that if the market crash, you will still be fine by cashing the 10% rather than selling the stock with a bad price.

Getting Rich the Wise Way

There are a lot more important things in life than accumulating wealth. Who wants to end up rich, unloved, lonely, and in poor health? However, if you can enjoy a balanced life and at the same time become rich, why not do so?

Taking combinations from the above suggestions may not guarantee you a prosperous future, but it will surely eliminate a lot of financial troubles in your life. With one step at a time, maybe you will also become the one you dreamed of.

Best Money-making Apps in 2022

For those looking to make money in an easily accessible way, apps provide plenty of avenues to consider. You can use your smartphone to take surveys, pick up a side gig, sell your unwanted stuff and more.

Here’s the scoop on seven free money-making apps. NerdWallet considered apps with at least four stars and 25,000 reviews in both Google Play and the iOS App Store.

The best money-making apps

1. Ibotta

How it works: Ibotta lets you earn cash back on in-store and online purchases at over 2,000 supported retailers. Originally for groceries, it has expanded to include clothing, entertainment and eating out, pet supplies and other categories. Offers can be product or retailer-specific — and some will automatically be applied. For others, you’ll need to complete an additional task such as watching a video or taking a poll.

There are three possible ways to earn cash back in stores: Add offers and submit your receipt in the app after your shopping trip, link your retailer loyalty accounts or purchase a retailer gift card through the Ibotta app. For online purchases, you shop through the app or with the Ibotta browser extension on your computer.

Payment: PayPal, digital gift card or direct to a bank account.

Pros: You’ll receive cash back on in-store purchases quickly — typically within 24 hours. Ibotta also offers a welcome bonus to new users, referral bonuses and a variety of payment methods.

Cons: Making money can be a slow process. You must have at least $20 in cash back to redeem your earnings (some gift cards require at least $25 in earnings). For online shopping, the pending period for earning cash back varies by retailer.

Download: Android, iOS.

2. Rakuten

How it works: Rakuten (formerly known as Ebates) rewards shoppers with up to 40% cash back on purchases from well-known retailers, restaurants and food delivery services. Users can also earn cash back on travel, gift cards and more. It’s straightforward: Create an account, tap on the store where you want to shop in the app, then make the transaction through the portal. You can also link a credit or debit card to your Rakuten account to earn cash back in-store — as long as you activate the deal through the app first. Rakuten credits the cash back to your account after it confirms the purchase with the retailer, which it says can take a few hours to several days.

Payment: PayPal or check.

Pros: Thousands of stores and purchases are eligible for cash back, so you’ll likely find deals where you already shop. New users can earn a $10 welcome bonus after their first qualified purchase. You can also earn sign-up and referral bonuses.

Cons: As with most cash-back services, you have to spend money to make money. You won’t see your earnings right away, either; Rakuten sends out payments every three months, and you need at least a $5 cash-back balance to get paid.

Download: Android, iOS.

3. Swagbucks

How it works: Swagbucks is a cash-back and rewards app. You earn points, called "SB," by shopping, taking polls, watching videos, playing games or fulfilling other tasks through Swagbucks. You can redeem those points for gift cards or get cash back to your PayPal account. The total points awarded can vary by task. For example, surveys are typically worth about 40 to 200 SB points each. The minimum balance required to redeem depends on the payout option you choose, but some gift cards are available for as low as 110 SB.

Payment: Gift card or PayPal.

Pros: Swagbucks offers many easy ways to earn rewards, and there’s no waiting period to cash in. Payments usually arrive within 10 business days after redemption. You can also get a $10 bonus with a qualifying $25 purchase when you join.

Cons: It doesn’t pay much; one SB is worth about a cent. With many tasks valued at pennies, it can take a fair amount of time and effort to make substantial money. Additionally, you won’t qualify for every survey or task. Users often report getting kicked out of surveys in the middle of taking them. This can be due to demographics or dishonest or inconsistent answers, according to Swagbucks.

Download: Android, iOS.

4. Fiverr

How it works: Fiverr is a freelancing marketplace that features gigs in over 200 categories, such as programming and video and animation. Create an account first, then you can set your profile as a "seller" highlighting your expertise. Post the gig you’re offering, which will include pricing and a description of your services. Clients, known as "buyers," can click through and place orders. You’ll get paid once you complete the job. Fiverr assigns seller levels based on performance. As you move up each tier, you’ll be able to sell more “extras,” such as a faster delivery time.

Payment: PayPal, direct to a bank account or credit to a Fiverr Revenue Card (a prepaid card). Minimum withdrawal amounts vary, and you may be charged a withdrawal fee, depending on which option you choose.

Pros: You don’t have to worry about tracking down buyers because they come to you. You can also earn tips.

Cons: Fiverr takes 20% of your earnings for every gig, including tips, and there’s a standard 14-day waiting period to withdraw money after completing an order (top-tier sellers wait seven days for funds to clear).

Download: Android, iOS.

5. Upwork

How it works: Upwork connects freelancers to gigs in writing, design, marketing and other categories on the marketplace. First, you’ll create a profile. It should include information such as the field you’re interested in plus your qualifications, availability and desired rate. Then, you can submit proposals. Clients will review them and offer projects if you seem like a good fit.

You begin each month with a set number of “Connects,” which are like credits that allow you to contact prospective clients. You can earn or pay a small sum for more Connects, but you won’t be charged when clients contact you. You can get paid on an hourly or per-project basis.

Payment: Direct to U.S. Bank, direct to your bank account, wire transfer, Instant Pay, PayPal and Payoneer. Charges apply to some payment options, so be sure to check Upwork for details.

Pros: Upwork helps take the work out of seeking out clients, establishing relationships and getting paid. The service also gives you the flexibility to set your preferred rate and schedule.

Cons: The app is free to download, but initiating contact with lots of clients costs money. Users also get charged a service fee. Upwork takes a 5% to 20% cut of your earnings based on how much you’ve billed a client. The more you earn, the more you get to keep. However, you won’t get paid until 10 days after the billing period ends. Remember, too, that you’re competing with other freelancers on the platform. That means clients may choose those who’ve set lower rates.

Download: Android, iOS.

6. OfferUp

How it works: OfferUp, which combined with competitor Letgo in 2020, functions as a local marketplace you can use to sell your stuff. If you want to reach a broader audience, OfferUp also allows shipping within the continental United States. Create an account and snap a picture of your smartphone, car, sofa or whatever it is you’re selling. Once you add a title, description and price, you can post your listing and chat with buyers directly through the app. Then, you'll ship to or arrange a meeting with the buyer.

Payment: Cash or deposit to debit card or bank account.

Pros: Creating a listing is simple and fast, and you’ll get paid instantly when you make a cash sale. You can also view a prospective buyer’s reviews and ratings to get an idea of how trustworthy they are beforehand. If you ship your item, the buyer pays the cost, and OfferUp provides the label.

Cons: You’re responsible for meeting local buyers in person and handling transactions. Sellers must pay a 12.9% service fee, or a minimum of $1.99, for shipments.

Download: Android, iOS.

7. Poshmark

How it works: The Poshmark app is tailor-made for selling clothes, accessories and even home decor. After signing up, you take or upload photos of your item, fill out a description, price it and share the listing. You can also feature items in the app’s "Posh Parties," which are virtual shopping events centered around particular brands, categories and themes. Poshmark emails you a prepaid shipping label once a purchase is made. Then, you send the package.

Payment: Check or direct deposit to a bank account.

Pros: Poshmark facilitates the entire process, from selling to shipping. Plus, you don’t have to meet with strangers to make a sale. The company will cover lost packages and handle issues between you and the buyer. Getting paid is relatively quick, too; Poshmark issues the money within three days of the buyer receiving the order.

Cons: You’ll pay a fee for selling through Poshmark. The company takes a $2.95 commission for sales under $15 and a 20% commission for sales of $15 or above.

Download: Android, iOS.

How To Save Money: 18 Proven Ways

 

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

We compiled several ways to save money, from adjusting daily habits, to cutting monthly bills, to making long-term changes.

18 ways to save money

1. Use an automated tool

Find an app or bank account that takes the work out of saving. Digit and Qapital both automatically transfer small amounts from your checking account to a separate savings account. Learn about apps that automate savings for you.

2. Count your coins and bills

Empty your pockets each day and start collecting that extra change. Then take your collection to the bank and put it directly into your savings account instead of your checking account. When you want to watch your spending, use dollar bills instead of credit cards. It’s harder to part with cold, hard cash.

3. Prep for grocery shopping

A little work before you go to the grocery store can go a long way to help you save money on groceries. Check your pantry and make a grocery list to avoid impulse buying something you don't need. Learn how to get coupons, and join loyalty programs to maximize your savings as you shop.

On-demand coaching with a certified financial planner

Talk to an expert any time, any place with unlimited chat and video sessions on NerdWallet Plus.

4. Order smaller servings at restaurants

Opt for appetizers or split an entree with your dining companion to save money when you eat out.

5. Get discounts on entertainment

Take advantage of free days at museums and national parks to save on entertainment costs. You can also ask about discounts for seniors, students, military members and more.

6. Map out major purchases

Time your purchase of appliances, furniture, cars, electronics and more according to annual sale periods. Don’t buy anything hastily, either. Always wait a day or two before buying to limit buyer’s remorse.

7. Restrict online shopping

Make it more difficult to shop online in order to stop spending money on things you may not need. Instead of saving your billing information, force yourself to input your shipping address and credit card number each time you order. You’ll probably make fewer impulse purchases.

Before you build a budget

NerdWallet breaks down your spending and shows you ways to save.

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8. Make your own gifts

Go the DIY route or save money with affordable gift ideas, like herb gardens and gift baskets.

9. Reduce your gas usage

You can't control prices at the pump, but you can do several things to cut your gas use and save money. Try a gas app to pinch pennies when you do fill up.

10. Lower your car payment

Refinancing your auto loan and taking advantage of lower interest rates could save you considerably over the life of your loan.

11. Bundle cable and internet

You could lower your cable bill by as much as $40 per month by changing your cable package. And you could save more than $1,000 over two years by bundling your cable and internet service, depending on your carrier.

12. Switch your cell phone plan

Changing your plan is one way to save money on your cell phone bill, but it’s not the only way. Removing insurance from your plan could save you nearly $100 per year, per line.

13. Monitor your electric bill

Big and small changes in your energy usage can help you save hundreds annually on your electric bill.

14. Lower your student loan payments

Income-driven repayment plans can lower your monthly student loan payments by several hundred dollars each month.

15. Cancel unnecessary subscriptions

Uncheck the auto-renew option on any subscriptions you aren’t using regularly, such as subscription boxes or streaming services.

16. Track spending

Keep track of your monthly cash flow — your income minus your expenditures. This will also make it easier to mark progress toward your saving goal. Try a budget app that tracks your spending. (NerdWallet has a free app that does just that.) Or you can follow these five steps to help you track your monthly expenses.

17. Refinance your mortgage

Refinancing your mortgage to snag a lower interest rate can save you several hundred dollars each month. Use our mortgage refinance calculator to find out how much you could save.

18. Set savings goals

Set a specific but realistic goal. It may be “save $5,000 in an individual retirement account this year” or “pay off my credit card debt faster.” Use a savings goal calculator to see how much you’d have to save each month or year to reach your goal.

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How to save money with a budget

One smart way to manage your money — and hopefully hold on to more of it — is to follow a budget.

At NerdWallet, we think about a budget as a spending plan because saving money doesn’t mean you have to quit spending altogether. It just means you have to prioritize some financial goals over others.

We recommend the 50/30/20 budget for smart money management. Devote 50% of your income to necessities, 30% to wants and 20% to savings. If you find one of your allocations exceeds these percentages, make some adjustments to fit the formula.

As you work toward your ultimate financial goal, make sure to put your newfound funds in a good high-yield savings account to maximize your money. Some of the best online accounts pay interest rates that are much higher than large traditional banks.

Track spending by category, compare months and spot ways to save.

Money Management: 4 Tips for Mastering Your Finances

 

What is money management, exactly? It’s a plan for your money so you can make the most of it. This plan typically involves budgeting and saving money, avoiding or reducing debt and investing in your future.

If learning how to manage your money sounds intimidating or stressful, take it one step at a time. Below are money management tips to help you gain control and, more importantly, peace of mind.

How to manage your money

1. Take inventory of your finances

Money management is about more than making the math work out. It’s about adjusting your mindset, too.

Take a mental inventory of your current position.

Are you consistently overspending?

Do you have enough saved up to survive an unexpected expense?

Do you live paycheck to paycheck?

Do you feel overwhelmed by financial jargon?

Be honest with yourself about where your weaknesses lie. You might’ve made some missteps in the past, but you don’t have to continue on that path. Here’s how to manage your money now, while preparing for the future.

2. Build a money management blueprint

How do you put your plan in action?

Use the steps below to build a blueprint that works for your finances.

 

Start with a budget

If you’re not sure how to budget, start by choosing a system that you’ll stick with. We like the 50/30/20 budget plan, which allocates 50% of your income for needs, 30% for wants and 20% for savings and debt repayment. This 50/30/20 budget calculator divides your income into these categories.

If the 50/30/20 rules don’t work for you, there are plenty of other types of budgets to choose from. You may also find that a free budget app helps you stay on top of your finances.

Track your spending

By tracking expenses, you can see exactly where your money is going. It may inspire you to stop spending so much in a certain category or adjust your spending habits so they better align with your goals.

Find ways to save

As you pay more attention to your finances, you’ll likely find opportunities to save. Here’s how to save money, from tweaking daily habits, to negotiating bills, to making long-term changes.

Ideally, over time, saving money will become part of your lifestyle. If you want to learn more about saving money with coupons, freebies and DIY hacks, check out our guide to frugal living.

Use designated accounts for spending and savings

One way to make money management easier is to keep money designated for bills and budgeted expenses separate from your emergency fund. This will reduce the temptation to dip into it for nonemergencies. Saving for a house, vacation or new car? Stash those funds in separate accounts so you can see progress toward each goal.

Make a plan to pay off debt

A strategic approach to debt repayment will help you reach the debt-free finish line faster. We recommend tackling your most expensive debt — the accounts with the highest interest rates — first, while making minimum payments on the rest. Then, work your way down through any lower-interest rate debt until it is all paid off.

» Here are tools and tips to help you pay off debt

Develop good credit habits

Your credit can determine whether you’re able to get loans and the rates you pay on them, as well as many other aspects of your financial life. A credit check may be part of getting a cell phone plan, apartment or car insurance.

To stay on top of your score, focus on the two biggest factors that influence it: payment history and credit utilization (how much of your credit limits you’re using). Aim to pay everything on time, because just one missed payment can hurt your score, and use less than 30% of your credit limits on each card and overall.

» Learn what a good credit score is and how to get one

Invest in your financial future

Set money aside now, in a 401(k) or IRA, and let compound interest work its magic. The ultimate goal is long-term financial freedom and stability. Not sure how much you need to save? Try our retirement calculator.

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3. Make the most of your savings

Money management goes beyond spending less than you make. A true sign of financial prowess is saving enough to live comfortably in the long term as well as the short term.

You can achieve this in four steps:

Piggy bank

Save

Start socking away extra money to build an emergency fund. Ideally, you should have six months’ worth of living expenses at your disposal in case the unthinkable happens. If that seems too ambitious, start small. A $500 reserve is a great first goal.

 

Investment portfolio icon

Invest

Invest extra money for your future. Set yourself up for retirement by contributing to a 401(k). If your company offers a match, contribute enough to get the maximum.

 

Pay off debt

Whether it’s a loan or a looming credit card bill, you probably have some debt obligations. Always make at least the minimum monthly payments so you don’t suffer credit score damage due to a late payment. If you have extra money for bills, pay down the high-interest debt first.

 Repeat

Keep building up that emergency fund, investing for retirement and knocking down debt.

 

 

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4. Be persistent

Despite their good intentions, many people fall off the financial bandwagon. Sticking to a budget that’s too restrictive can be suffocating. Navigating investment jargon can be confusing. But don’t get discouraged.

You didn’t get in the financial position you’re in overnight, and you won’t get out of it overnight, either. Give yourself time to learn and grow. With hard work and dedication, you can manage your money with confidence.

The Ultimate Shopping Guide: 8 Proven Ways to Get the Best Deals Online

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Online shopping has become a routine part of life. With a few clicks or taps, you can buy virtually anything. But before you restock on toilet paper or purchase those trendy sneakers from the ad in your Instagram feed, make sure you’re not spending more than you have to.

Here’s how to shop smart and find the best prices online.

1. Set a budget and make a shopping list

You likely already plan for big expenses, such as vacations, weddings or college tuition. Planning out everyday purchases is just as important. Making a budget that accounts for clothing, gifts, groceries and other expenses will help you figure out how much you can afford to spend — and avoid debt. The 50/30/20 budget is one template you can use to split your monthly income between the things you need and nonessentials.

With a budget in mind, be more intentional about what you buy. Write a list of the items you aim to purchase before you start shopping to avoid impulse buying. Sticking to the items on the list will prevent impulse buying and make it easier to follow your budget.

2. Shop at the right time

Did you know you can usually pay less for a TV in February than in March? There’s a best time of the year to buy almost anything, including pencils, bedding, appliances, furniture and more. Look for steep discounts during end-of-season sales and major shopping holidays. Here’s the rundown on a few big events:

Back-to-school sales

Late summer brings savings on classroom and office supplies, outfits, computers and more. Several states also participate in sales-tax holidays in or around August, waiving the sales taxes on certain back-to-school items.

Labor Day sales

Labor Day events in September are best known for mattress discounts. But shoppers can also find some of the year’s lowest prices on home furnishings, appliances and summer inventory.

Black Friday deals

You don’t have to sacrifice Thanksgiving dinner to get a stellar deal. Retailers release Black Friday ads (and even discounts) as early as October. Plus, many offer the same deals in stores and online. Sales roll into Cyber Monday events the week following Black Friday and beyond. You’ll typically find the top deals in product categories such as personal electronics and small kitchen appliances.

Superstores like Target and Walmart hog the Black Friday spotlight, but drugstores, wholesale clubs and other businesses get in on the action, too. Check your mailbox, inbox and retailer websites for announcements, so you can plan when and where to shop.

3. Apply coupons

Knowing the basics of how to coupon can help you save on purchases from grocery stores and other retailers. Try a free coupon app, or build the habit of searching for coupon codes every time you shop. Spending a minute or two on aggregator sites could get you $1 off that shampoo on your list or free shipping on an order.

4. Compare (and match) prices

Different retailers sometimes sell identical products at nonidentical prices, so it pays to do a little research. Before buying an item, scope out a few sites. But sticker prices can be deceiving; be sure to include details like shipping costs and coupons in your comparisons.

Look into price-matching policies, too. Companies like Best Buy and Target may match a lower price found on a competitor’s site. Some will even give you a partial refund if you spot a price drop soon after purchasing an item. You can call a retailer’s customer service number or use its online chat feature to request an adjustment.

» MORE: NerdWallet’s guide to personal finance

5. Use shopping tools and apps

If keeping up with money-saving strategies makes shopping feel like a homework assignment, try automating the work. Popular browser extensions and apps, such as Honey and Rakuten, can locate coupons, track prices and more — so you don’t have to.

6. Buy online, pick up in store

You can shop online and get your order the same day (possibly at a discount) without paying shipping costs. The catch: You have to make a trip to the store to fetch it. But curbside and in-store pickup options can be worth the minor inconvenience, especially when you consider the money you’ll save by spending less time near tempting displays.

7. Get rewards

You can earn money, points or other benefits — often on top of regular discounts — through rewards credit cards, retailer loyalty programs and cash-back apps. But don’t let the promise of a reward encourage you to buy things you don’t need.

8. Score free stuff

Discounts are great and all, but you can get freebies online too, such as gift cards. Before you buy a new coffee table, why not browse Craigslist for a free one? Learn how to get free stuff from community marketplaces, libraries and more.