People Swear By These Financial Hacks

Most of us could use all the help we can get when it comes to things like credit scores and saving for retirement, and Reddit is here to help. A popular thread asks users, “What is your best financial life hack?” And a lot of people are ready to share, as more than 4-thousand responses have come in, full of money changing tips that changed people’s lives - and bank accounts - for the better.

Maybe we can all learn something from these replies:

  • “Don't spend money you don't have! It's a revolutionary concept, I know, but it really works wonders.”
  • “I like to not spend $10 bills, whenever I get a $10 I just save it and once it gets up to $500 I deposit in the bank and buy something nice with $250 of it and save $250 of it.”
  • “When at the grocery store, make a list before and stick to it. Reusable items (lunch box container; water bottles, forks for school) save money over time.”
  • “Focus on increasing your income just as much as managing your expenses.”
  • “Live a notch below what you can afford. Keep the rest in savings or use on vacations/dinners.”
  • “Lifestyle inflation from monthly expenses is a thing”
  • “It’s not how much you make, it’s how much you save.”
  • “Every time I want to buy something big or expensive, I ask myself one question: Do I NEED this, or do I WANT this? Both answers are fine, I think it's just important to know WHY you spend money.”
  • “Set up an auto transfer to your savings and forget about it. You'll have a savings account in no time, and it doesn't even have to be a big amount.”
  • “Bringing packed lunch, or always having a snack in my bag”
  • “When you spend money think ‘Is this worth x amount of time that I spent at work?’”
  • “Every time you get a raise, hide it. Increase your 401(k) contribution, or put it into an IRA, or invest in stock, or just put it aside in savings. In other words, don't get used to a higher level of consumption. This is especially important when you're young.”
  • “Get a credit card with good rewards and route every purchase through it. Pay it off in full each month and enjoy your free money while simultaneously giving credit card companies the middle finger.”
  • “Think of your future self as a different person you need to help. Every time you’re able to save back even $1 it helps your future self out.”
  • “Set a new zero. My checking account has $531. $500 is my 0, so I only have 31 to spend/save as I please.”
  • “Uninstall grubhub and doordash from your phone”

Source: Reddit

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