[Yusra]

Managing money can be tricky, but implementing some simple hacks can help you save and even make more money. As we move into 2024, here are 6 of the best money hacks to take advantage of:

1. The Round Up Hack

This clever app links to your credit card and rounds up each purchase to the nearest dollar, investing the spare change. For example, a $4.50 coffee would round up to $5.00 with the extra $0.50 invested. This spare change adds up over time allowing your money to work for you.

2. DIY Investing

With more investment apps on the market, DIY investing is easier and more accessible than ever. Whether you want to dabble in stocks, mutual funds or ETFs, make your money work harder for you by taking an active role in investing and saving on management fees.

3. Cashback Websites

Cashback websites offer money back for online purchases from major retailers. Simply click through the website before making online purchases, and receive a percentage of your purchase back in cash rewards. Popular options include Rakuten, TopCashback and CouponCabin.

4. The Envelope Budget

This old school budget hack uses envelopes designated for specific spending categories like groceries, entertainment and clothing. Money goes into envelopes after payday, and when it’s gone, the spending stops. This creates awareness around spending and can prevent overspending.

5. Buy Store Brands

Opting for store brand items can slash grocery bills by 20-30% without sacrificing much quality. Many times store brands contain similar ingredients and formulas as national brands just without the branding budget.

6. Online Surveys

When you have spare time, online surveys provide an opportunity to earn extra money. While no one will get rich taking surveys, sites like SurveyJunkie, InboxDollars and Swagbucks reward you to share your opinions, providing an easy way to chip away at debt or save extra money.

Implementing even just one or two of these creative money hacks can add up to big savings over time. Take control of your finances in 2024 with these smart strategies for spending less and saving more. Which hack will you try first?

[Vehlijanta]

I am interested about the round up hack, Can you share more details about it

[Fergal]

For example, a $4.50 coffee would round up to $5.00 with the extra $0.50 invested.

That's interesting, thanks Yusra. Where does the app invest the extra money, is it into a savings account or something else?

[Vehlijanta]

I have similar questions and like to know more details about it