How to Grow Your Savings Pot
Savings allow us to fulfill our dreams of buying a new home, enjoying the holiday of a lifetime or earning a college degree. What’s more, they can provide reassurance that we are financially protected for a rainy day. Find out how to grow your savings pot.
Open a High-Interest Savings Account
Maximize your finances and open a high-interest savings account. However, don’t rush into a decision. Research the market to identify the best savings account for your needs, as it could help you to reach your financial goals at a faster rate.
Sell Your Unwanted Stuff
Most of us have items that are adding unnecessary clutter to the home, such as books you will never read and gadgets you will use again. Don’t allow the items to collect dust and sell the items to receive a cash amount. There are many auction websites and phone apps designed to make the selling process as easy as possible, such as Gumtree and eBay. The money can then go directly into your savings account.
Start a Side Hustle
Add a little extra cash into your savings pot by picking up a side hustle. You will simply use one of your many skills to make regular money. For example, you could provide an ironing service, perform data entry tasks or walk other people’s dogs. Whatever your skills and experience, put them to good use to boost your savings. You can also take advantage of one of the many freelance websites online to find the right side hustle for you.
Sell Your Unwanted Gift Cards
Your loved one will have spent a great deal of time and money selecting the right gift card for you. Even if they haven’t picked the right store, you can trust they will not want their money to go to waste. That’s why you should consider selling the gift card at EJ Gift Cards, as you can trade the gift card and pin number for hard, cold cash, which will increase your savings.
Keep a Change Jar
Do you often have change rolling around in your pocket, purse or wallet? If so, add the coins to a change jar to watch the money mount up in no time. You’ll be surprised by how quick those pennies can accumulate, which you can then deposit into your savings account. It will also prevent impulse buying, so you won’t waste your money on things you don’t need.
Save Your Pay Rise
We all love a pay rise, but so many people waste the money unnecessarily. Instead, by adding the increased earnings directly into your savings account each payday, you can save quicker. You will not miss the money, because you are not used to having the extra cash. It will boost your savings balance substantially at the end of each year.
A savings account will provide peace of mind that you have a financial backup plan if you need it. It will also allow you to fulfil your hopes and dreams. You must, therefore, look for opportunities to boost your savings account, so you can live the life you dream about every day.