Tips for Saving Money Up for Smaller Purchases

Everyone wants more money. From people on minimum wage to the CEO’s in their swanky towers. The question is how. The reality is quite simple. It’s all down to a transaction of time. You’re trading your time, and in return, hopefully, you’re getting some money. The issue is finding out how you can do that. There are many ways to make some extra cash, some get you small amounts, others can end up garnering you hefty sums of cash. Whatever you think, the only way to make more money is by starting out on the path. Even if they’re marginal gains, it’s still in the right direction. Here are some tips to make varying amounts of cash, some might apply to you, others might not. Even so, they’ll hopefully get you thinking about money in a better way. Click here for aml screening online to reduce risk of money laundering and identity fraud risks

The Small Stuff

If you want to save for something small, there are some pretty easy ways to do it. Especially if you know in advance. This is for something like a medium end laptop, or if you’re planning on looking at affordable prom dresses for your child. One of the better ways to get a small amount like this is to set easily achievable goals over a short period of time. Check with your bank, do they have a round-up option? If they do, enable it. Every time you spend money it’ll round it up to the nearest dollar. You’ll be surprised how quickly this adds up. You need to start well in advance of any intended purchase though. If you’re too close for this to work, have a look inside your loft. You might be surprised what you find and what can be sold for some decent money. Old games, antiques, you name it, and there’ll surely be someone who will want it.

Side Hustle

If you’re wanting to save up some more money that you’re currently making, then a side hustle is what’s needed. The extra money goes a long way, you just need to find something you can do or offer. It can vary. Some people take up a second job which they work part time or on and off as they see fit. Others will offer a skill freelance, such as copywriting or graphic design. Others will work in buying and selling on sites such as Ebay. Look at your skills and think about how you can export it. Tutoring is another route, especially if you have a good degree and can teach people in high school the basics. It’s surprisingly lucrative. 

The Long Haul

If you want to save seriously and make some real money then you need to think about investing. First, make some money using the above two tips. Then you need to work out what to do to grow it. Buying government bonds is one of the safest options out there as they’re well guaranteed, but you can also buy private bonds. There’s a bit of a bigger risk, but you can make more money it just means you have to put the research in. Think about precious metals, especially gold. They’ve been rising in worth over the last few years and can protect your currency against any fluctuations.