we all know every side hustle demands a bit financial commitment. And lack of money and time has been the number one and two reason many has forfeited there desire for freedom by having there own side hustle.
expenses such as taxes, cost of goods, and anything you need to operate your new business. You also want to include what type of services you are offering and how much you are going to charge.
Starting a side hustle may take a little bit of investment funds up front, though there are many ways you can keep your side hustle startup cost low.
but let’s major now on scrimpings, you can save I mean hundreds of dollars monthly from just keep track of your spending.
and this can save a lot of side cash to help finance the group of your side hustle like, paying for important software and delegating some tasks.
so, now is the best time to begin taking care of your finance. It’s not only that you have take a broad step toward creating a bright future. But you can still be cast in a hole even if your hustle has begin blessing you with some financial turnover.
Smart apps to help track your spending.
The problem is that the decision can be challenging to know where to start making changes that will save you money. The answer will be to get help from apps that are designed to help you make better decisions about your professional and personal finances .
Acorns rounds up your purchases on the credit and debit cards you link to the app. The difference is automatically transferred to an Acorns account. This account is part of Acorns’ investing platform. Your money savings are then invested in exchange-traded funds. You get the option to invest in conservative or aggressive funds based on what you feel comfortable doing.
College students get to use Acorns for free for up to four years. Everyone else has to pay a monthly fee if your account is under $5,000 or a percentage fee on anything above that amount in your account.
The company partners with brands like Airbnb and Blue Apron, which means those companies give back a percentage of your purchase and place that in your Acorns savings account.
2. You Need a Budget
You Need a Budget is an app that helps you create an easy-to-use budget interface that teaches you more about the value of money.
As a result, you’ll learn to prioritize certain expenses, find ways to save more money for retirement and emergencies, handle unexpected costs, and live within your means rather than using credit.
The company offers the app and software that works on your Windows or Mac computer. It works for all mobile devices for iOS and Android as well as Apple Watch and Amazon‘s Alexa.
Digit does the thinking and acting on saving money for you. It may even do a better job plus it takes the effort off your shoulders. This app looks at your current income and expenditures. It then calculates what you can save and puts that amount aside in an FDIC-insured Digit account.
Typically, the app goes through and does this analysis between two and three times a week. It gives you the ability to earn a one percent savings bonus that is paid every three months. What you get is based on the average daily balance in your Digit account during that same three-month period. There is a monthly fee that kicks in to use Digit after the 100-day free trial period runs out.
Viggle is a way to actually make money while you spend time on the sofa in front of the television. This clever app lets you check in to a show that you are watching and then earn points for watching it.
You can also get additional points for playing games and testing your television IQ. In return, those points that you earn can be used at places like Starbucks and Barnes &; Noble. That means you won’t be spending $5 a pop on a coffee or magazine, so essentially watching television and using this app will entertain you while you save money.
Mint helps you stay on top of your bills so you aren’t late and end up costing yourself more money than you need to spend on late fees and penalties. This money-saving app also helps you develop a budget to ensure you maximize what you can do with your money and allocate money for savings, an emergency fund, and retirement while covering all your other obligations.
You’ll also be able to get a free credit score to monitor how your savings and good money habits are giving you an opportunity to get a better loan rate should you want to buy a home or vehicle down the line.
Trim is a money-saving app that works like your very own personal financial assistant. You can link all your accounts securely so the app can analyze each transaction and suggest areas to cut back like subscriptions or all those trips to the coffee shop.
Then, the machine-enabled app goes to work on finding you more affordable service providers like cable, car insurance, and the internet. It will even cancel subscriptions for you. You’ll be able to get text updates on how your accounts are doing and immediately see any automated changes that have been made. This is a great option for most self-employed people looking for a personalized financial assistant.
4 thoughts on “6 ways to keep your side hustle startup cost low with a bit frugality”
I love the Acorns app! I love how it auto invests in the background of my finances. I set it to a daily amount and invest the change with round ups!
This way while I’m day trading , I don’t miss out on market movements.
Have you given day trading a shot?
Love your kind words
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