An economy hack is when you can develop a fun shortcut or a clever trick to make life a little better, easier, or more fun. Save and Place today gives you six live financial hacks that work – six super-smart financial hacks!
Turn Your Back on the Pros!
Do you want to save in stocks but do not have the time and knowledge to do the fundamental analysis that needs to happen? The “boring” way is, of course, to buy funds. But you wanted to save directly in shares… one way is to seek inspiration from the fund managers, the professionals!
Let us take the bank fund as an example. In five years, the fund has risen an impressive 300%! What is behind this fantastic development? Look at the list of the ten most extensive holdings (which almost all funds present) and look for your inspiration for the next stock purchase there!
Do Not Get Blown Away by the Hotel Price!
We take a hotel booking as an example, but you can apply this tip to many other things, such as rental cars and cruises.
Imagine that you are going to travel somewhere and are out in good time with your booking. How do you get the hotel at the right price?
The hotel’s price is a little daily – far left until arrival. The price can be both high and low. Later, as the journey approaches, the price can go up and down depending on the booking mode. The price can be very high or cheap a couple of days before arrival. How to book at the right price?
The solution is to book a cancelable room well in advance at a price you would be happy to pay. Then check once a week if the price has gone up or down – if the room has become cheaper, you can cancel the room and rebook! If not, you keep the reservation. Finally, check the price one to three days before arrival if it has become much cheaper. Then you also know if you will be on your way and can book a non-cancellable room.
Cancel the Online Order
Are you going to buy something online? Do you have plenty of time? A trick can be to complete the entire ordering process, where you fill in your name, address, and most importantly: your email address – but you do not press pay! Many online stores, mainly foreign, can then capture your data and send you a discount code by email to get you to complete the purchase.
It can be a 5% discount, 10% discount, or an offer of free shipping. Over the years, we have saved decent sums in this way. However, remember that it does not work every time, but once in 10.
Points on a Credit Card
Credit card points might be the most effective strategy to earn more and save money when finding inexpensive flights and other travel offers. Depending on the card you use, there may be a variety of methods to earn and redeem your points – which may add up to significant discounts if you travel frequently.
Credit card points might be the most effective strategy to earn more and save money when finding inexpensive flights and other travel offers.
Make Use of Loyalty Programs
Meanwhile, check whether the station you frequent has a rewards or loyalty card. If you must charge it, obtain a card that gives you points for buying petrol. Some local grocery loyalty programs also provide gas rewards, which you can redeem for gas when you’ve earned enough points. Check out resale sites for gift cards. You might be able to get a $100 gas card for $90, giving you $10 in free gas.
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