3 Little Known Ways to Save Money Effortlessly

 

save money

Saving money is challenging because of the efforts it requires. You must track your expenses, constantly keep an eye on your bank account, think about your monthly bills, deal with the unexpected expenses…

Hopefully, there are ways that will make things simpler for you!

In this article, you will find out about 2 apps and one system that will help you save money effortlessly.

 1) IFTTT

IFTTT (If This Then That) is a website that allows you to connect different applications together such as Facebook, Twitter, Text, Dropbox…to perform certain actions. For example, you can create the following connection to save money:

If you send a text and tag it #cargas, then IFTTT will send your gas spending to a Google Drive spreadsheet

If you send a text with #Finance and indicate how much you spent, then IFTTT sends the information to your personal budget spreadsheet.

IFTTT is an excellent way to automatically track your expenditures so that you can see where you spend the most and act consequently.

2) Invisiblehand

Invisiblehand is a free and powerful extension for Chrome and Firefox that automatically notifies you if the product you’re shopping for is available for a cheaper price from another site.

Let’s say you see a computer on Amazon that costs $1200, Invisiblehand will automatically give you a link to a competing websites that sell the same product for less than $1200.

Invisiblehand is the easiest way to save money when you buy products online.

3) Automate your finances

What if you could both save money and invest it without even thinking about it? With the following system, you can automate your finances in a couple of hours and enjoy its benefits for years.

savingmoney

Here’s how it works:

1) First you have to set-up a direct deposit for your paychecks. 6% will automatically get contributed to your 401(k), and the 94% remaining will go to your checking account.

2) From your checking account, you must set-up 2 automatic transfers. 5% to your saving account (you can use that money to invest or pay for big expenses) and 5% to your Roth IRA.

3) Set-up electronic pay for your bills that you pay every month and that you can’t pay by credit card (mortgage, rent, gas, electric bills…)

4) Pay all the other bills (gym, Netflix, Starbucks…) and your discretionary spending on a rewards credit card so that you maximize the rewards/cash back you earn.

By automating your finances you’ll have more time for the things you enjoy doing and you will be on the right track to becoming wealthier.

Read also: 3 Financial Habits that can make you wealthy

 About the author: Simon Cave is passionate about Digital Entrepreneurship and Personal Development and help people reach financial independence on his blog The Becomer. Follow him on Facebook

About Lauren

Lauren May is a freelance writer and travel lover living on a budget.

19 thoughts on “3 Little Known Ways to Save Money Effortlessly

  1. Automating your finances is a great way to control your spending (as long as you’re working with available cash and not buying on credit) and I imagine that it would help many people with their budgeting: thinking about how to spend their (available) cash more effectively while (automatically) saving for their retirements and paying off their debts.

  2. I’ve never heard of Invisiblehand but I’ve heard of other sites just like it. I’m always trying to find the cheapest price for items I buy online which seldom happens.

  3. I signed up for IFTTT with the intention of working on stuff only for my blog, but I am constantly amazed at how much I can do with it. In fact my intern this summer pointed out all of the various formulas I could create. This is a great reminder that I need to spend more time using tools like this.

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