Tuesday, July 27

Savings

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5 ways to spend cash gifts to turn them into more money

When you buy through our links, Insider may earn an affiliate commission. Learn more.If you got married or had a birthday recently, you might be sitting on cash gifts. Financial pros say you can invest in a side hustle or buy crypto (without risking your savings). Or, keep the money in a high-yield account or pay off debt to build wealth over the long term. Compare savings account rates & offers in your area » Over the last few years, I've received a lot of cash gifts from friends and family for different celebrations in my life. I got engaged, had a couple of birthdays, and ended up eloping during the pandemic. In order to keep track of these cash gifts and...
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3 things to sacrifice now for a much more comfortable retirement, according to financial planners

Sacrificing now can lead to a much more comfortable future, financial planners say. Giving up above-your-budget homes and fast-depreciating new cars can make a massive impact. And curbing an expensive dining-out habit now can help create a more comfortable life later. Read more Personal Finance Insider coverage » Sacrificing now for a better life later isn't the most glamorous idea. But it's important. Financial planner Michaela McDonald, who works with the financial app Albert, said that even small changes made now can add up."I always urge clients and people to take a look at the money that they're sinking into non-essential spending and flip it in their...
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I ditched my retirement goal when a pregnancy loss showed me a more important savings priority

At the start of 2021, I planned to save $25,000 a year for retirement. That changed when I had a miscarriage. I realized I wanted to prioritize motherhood as a financial goal. Now I'm saving ambitiously for adoption or any medical needs I may have as I try to become a mom. Read more stories from Personal Finance Insider. I'm the kind of person who has trouble saving without a specific goal to keep me on track. I spent over a decade paying off $80,000 of debt, and I was able to do so in part because I had a clear goal in sight. The closer I got to being debt-free, the more frugal I became, and felt overjoyed when I reached my goal. So for 2021, I made a retir...
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5 hacks I learned from Reddit that helped me save $2,500 with very little effort

When you buy through our links, Insider may earn an affiliate commission. Learn more.I'm trying to save more money in 2021, so a friend recommended I check out Reddit for tips. I learned a new way to budget, how to get discounts on my bills, and how to get free stuff online. These and other tips have helped me save $2,500 this year already. Compare savings account rates & offers in your area » Fixing up my personal finances is one of my main goals for this year. Because of that, I spend a lot of quality time every week consuming strategies, tips, and advice that can help me pay off credit card debt, save more cash, fund my retirement accounts, and invest. Wh...