How To Ensure Your Savings Beat Inflation

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Female hand putting coin into a piggy bank over gray background

 

Salary – Does Size Really Matter?

The higher your salary is, the better your lifestyle will be. Right? Well, maybe. However, the truth is that even people on high salaries can waste a lot of money. For example, careless shopping can lead to financial wastage. Sensible money management can lead to a more economic and profitable lifestyle. To get the best out of a salary, money management skills are essential.

Good Salary Management

What’s a good salary? It’s one which feeds and clothes you and keeps an appropriate roof over your head. It also affords you a reasonable social life. It should also provide you with resources to fall back on during emergencies and give you security for the future. Would most people agree that their salaries provide this? Probably not. This is where money management skills can come in handy.

Moneymaking Apps

There is a range of smartphone apps which can help you earn extra cash. The following three are available for both the Android and the iPhone.

  • Expensify: This is one which keeps track of your expenses, so you can easily cover and claim for expenses. It’s efficient and useful.
  • Ibotta: Record your receipts and claim reward points and offers with this useful app.
  • i-Say Mobile: Earn points completing surveys online and redeem them for gift cards (Amazon, iTunes) for cash through PayPal.

 

Robo Advisers

Robo advisors provide an online financial service to help clients invest their money in the way best suited to them. Moneybox is both a financial advisor and mobile app. Download the app, open an account and see how easy it is to get started. It will help you to figure an appropriate way to save money on your income and it will advise you on how best to invest it. Moneyfarm has also recently launched its app. So your digital wealth advisor is at your fingertips at all times. So today, investment is easier than ever, courtesy of the internet age.

High-Interest Accounts

High-interest bank accounts are virtually non-existent nowadays. But it is possible to find high-interest investment accounts if you look around the financial world. Websites like http://www.savingsalternative.co.uk are a good source of information on the subject of high-interest investment accounts.

Scaling Your Income

Many financial experts agree that it’s better not to rely on one source of income. There are many people earning their living online nowadays. There are people who earn their bread from selling ebooks. At the same time, they may write and sell online courses too. They may also earn substantial income from speaking engagements. There are people who may work part-time in a boutique. At the same time, they could be teaching Spanish in the evenings. This is, after all, the age of income diversification.

Beating Inflation

Keeping on top of all things financial will help you to inflation-proof your money, ensuring that you continue to get the very best out of your income.

 

 

 

 

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