If you have a bank account, then there’s no real point if you don’t actually put some money in it from time to time. Sometimes just the psychological satisfaction you get from seeing your bank account grow is pretty rewarding. How can you do this though if you’re stretched thin financially? How can you grow your bank account in 2019 and beyond? Well here are some methods you can use that should prove pretty useful if you’re serious about it.
AUTOMATE HOW YOU SAVE
Make efforts to automate how you save. This means setting up methods that will allow for money to be put into your bank account automatically on a consistent basis. It’s easier to save this way; because you treat your bank account the same as you would a monthly bill. It takes money directly out of your hand (where you might be more prone to spend it) and puts it right into the bank.
FIND SIDE INCOME
Consider getting into the side hustle market. When we say side hustle this is just a trendy way of saying independent contractor market. Think of Uber Drivers for example. The side hustle market enables you to earn extra money without having to be locked into specific hours. You have more flexibility and as a result you can earn extra money as you need it for the purpose of meeting monetary savings goals.
CUT OUT UNNEEDED EXPENSES
Consider cutting out unneeded expenses. Chances are there are several services you use right now that are a waste of money. If the goal is to grow your bank account in 2019, then you want to cut back on such wasteful spending. An example would be frequenting places such as Starbucks too often or even going out to eat too often. Various internet services or other monthly fees you pay that aren’t essential.
SELL THINGS YOU DON’T NEED
Consider selling a lot of the stuff you don’t need. There’s always stuff you don’t need in your home or apartment. And you’d be surprised at how many different markets exist for these items to be sold on. Sure, the money you get might be a one shot deal, but it can help you get started on a good note. You can use the marketplaces you sell your unwanted stuff on to also buy needed items to save money as well.
REDUCE HOUSING COST
Consider getting a lower cost apartment or reducing your costs in some other way. An example would be if you live in an expensive apartment, then move to something just a little less expensive. Own a home, then consider if it’s possible to rent out an area in it to add to your monthly income. Even a few hundred dollars a month in savings can go a long way in helping you to grow your bank account.
ELIMINATE UNNECESSARY FEES
Think of the various fees you pay for things you do and how you can eliminate them. It doesn’t matter how small the fee is. For example if you withdraw money from an ATM that’s not through your bank then the cost is higher. Even a bank associated ATM can still charge a high fee. Going to a store and getting cash back on a purchase helps you to avoid such fees. Imagine doing this consistently and how much it will save you.
Control spending on updates to consumer electronics such as smartphones. A new consumer electronic seems to come out every other month. Think of the IPhone for example and how often they come out with new models. People feel the need to update right away in order to keep up with the trends. Don’t do this, because in a lot of cases it’s costing you a lot of money. Get a reliable phone or other consumer electronics and stick with them for the year unless they become damaged (barring you don’t have insurance to protect them).