Personal Finance Hacks That Still Work

Pin It

Feb 01 2023
Linked In

Personal finance techniques go through trends, just as science, fashion, and language do. But maybe the truest test of whether a financial technique is worthwhile is how long it has been in use by large numbers of people. In decades past, people used envelopes with cash in each one and marked them all for their designated purposes. The envelope system fell out of practice after debit and credit cards became commonplace in later decades.


Today, a few of those old methods have survived and thrived. That’s why so many working people boost their budgets by taking on part-time jobs, getting financial counseling, refinancing college loans, and fine-tuning monthly budgets, to name a few approaches. Deciding which are most effective for your situation depends on multiple factors. Review the following money hacks and find one or more that deliver the best results.


Education Loan Refinancing

Choosing a student loan refinance agreement can be a transformative move for working adults who want to lower their monthly expenses and refinance one or more existing education loans into a single obligation. Consider the fact that the vast majority of those who are still paying on college loans can obtain better rates and terms by refinancing. That’s primarily because the original loans were taken out when they were much younger and had a minimal credit history. The beauty of a refi is that it has the power to deliver fast results in the form of lower monthly payments.

Finance Hacks

Professional Counseling

Unfortunately, there’s still a stigma attached to consumer financial counseling. People think they’ve failed or somehow fallen short if they get professional help with money matters. The most successful professionals in every industry seek out financial counseling under various labels. Some call it budget consulting, financial planning, or personal advisory services. Ultimately, the service is the same and can do wonders for your fiscal fitness quotient. Note that most consumer and debt counselors charge modest fees and can help you create a workable budget in one or two short sessions.


Part-Time Jobs

One of the oldest money-related standbys of all, the part-time job, still holds allure for those who need a bit of extra cash in their lives. The trick with part-time work is finding a position that doesn’t unduly influence your current schedule. In the modern era, some of the most commonsense choices include online work that has no fixed schedule, pays well and utilizes skills you already have. Top choices for people who already have day jobs include tutoring, website testing, taking paid surveys, and content creation. At first, consider working two micro jobs that total no more than 15 or 20 hours per week. If you are able to create opportunities that build passive income from there, that’s even better.


Monthly Budgets

Reworking the monthly budget is an old-school tactic that has plenty of followers because it works. The process is simple if slightly boring: put every expense category under the microscope and make downward adjustments wherever possible. Ignore the income side of the equation. Instead, focus on low-hanging fruit like convenience store spending, shopping for groceries without a list, dining out too frequently, and other budgetary leaks that are common in modern life.

Pin It

FinanceTwitter SignOff
If you enjoyed this post, what shall you do next? Consider:

Like FinanceTwitter Tweet FinanceTwitter Subscribe Newsletter   Leave Comment Share With Others


Add your comment now.

Leave a Reply


(required)(will not be published)