As we continue to work remotely and look forward to things returning to normal throughout 2021, many financially-minded professionals and savvy investors are starting to look into ways to leverage the technology around them in order to save and make money. Thinking of ways to build up your finances as we delve deeper into 2021? Take a look at this short guide for some inspiration, and see if there’s something that you may not have yet considered.
The best savings apps to download in 2021
The smartphone in your pocket has a million different uses, and you’re likely already using it in some way to control your finances, even if it’s through simply using an app like PayPal, or accessing your online banking profile. However, if you want to take this one step further, why not use one of the many different savings apps out there to help you make better choices with your money, and understand better where it’s going each month?
Savings apps like Plum can help you to itemise and coordinate your different expenses, making it much easier for you to break them down and thus understand what you’re spending the most on each week/month, empowering you to make changes going forward if you need to. If you want to start putting money away for a rainy day, or maybe even investing it for the future, MoneyBox is a good example of an app that can help you to round up change accrued from small purchases made here and there, putting it into a low-risk investment portfolio on your behalf.
Long-term financial planning
Once you’ve got some additional savings sorted and you want to start perhaps investing a larger some of money for the future, you might feel that it’s difficult to get a grasp on finances and investment when you’re stuck at home and don’t know where to start. Property investment, for example, might seem like something difficult to look into remotely, particularly if you’re not clued up on the market or where to start looking, but technology is providing an answer for those that want to ensure they get in while the market is providing opportunities.
Not only can you actually use virtual reality as a way of remotely viewing an apartment or property through some companies, but others such as RWinvest are providing a range of different mobile-friendly learning materials – from podcasts, to videos and pdf guides – allowing you to learn all there is to get started, and the sort of capital that you need to have available depending on what interests you.
Tip – Always keep in mind when looking at financial information and advice that only you know your personal financial situation, and whether or not something is a good idea for you and your money going forward. Be sure that you also check the sources of information, and make sure it’s reputable before taking it as gospel!
Making money from home – side hustle ideas
If you find yourself with some extra time on your hands during the pandemic, and want to think of some additional ways to make some cash on the side, here are a few side hustles that you might want to consider:
- Monetising your side hobby – Got a passion or hobby that you think you might be able to make some money from? Online freelancing sites such as UpWork and Fiverr make it easier than ever to make a bit of extra cash using your skills as and when you need to, building up a portfolio of work in the process.
If you’re into crafts, or creating physical products, on the other hand, you might decide to sell your creations through a platform such as Esty, or even set up your own digital storefront if wanting to turn your passion into your own business. By looking into ways to increase your online store’s visibility and getting to the right people through social media and other means, it’s wholly possible to run a successful business under your own roof if you believe in the product/service that you’re offering.
- Selling old furniture/clothing – Now that we’re spending more time at home than ever before, many people have started to feel like their home is a bit stagnant, and in need of a makeover. If you feel like rejuvenating your home, or simple want to clear out some stuff in order to make some space, why not make some cash from it in the process?
With online marketplace platforms such as eBay, Gumtree and even Facebook’s integrated Marketplace feature, it’s easier than ever to quickly snap some pictures of the things you want to sell, and move them on to another home. With clothing in particular, savvy and fashion-conscious entrepreneurs are selling clothes on Depop, and even running it as a business in some cases, not just for buying and selling vintage, eco-friendly fashion.