While money is not everything in life, it sure does help to make things easier. And, generally, when things are easier for us to manage, we get to lead a life that is a lot happier than one that is bogged down with stress. But, getting to this point can be tricky. There are so many different elements of finances and managing money that you need to understand, or work out, or do, and it’s just a lot.
The thing is though, not doing it is not going to benefit you. You are harming yourself more by not wanting to put the effort in to get your finances on the right track, and that’s a real problem. The good news is that if the problem is a lack of information and understanding, we’ve got you. In this article, we’re going to be taking a look at some of the different ways that you can manage your money so that you can lead a happier life. If we’ve got your attention and your interest, read on to find out more.
Find A Side Hustle
The first thing that we want to mention is getting a side hustle. Now, if you’re one of those people who works all of the time and feels like they don’t have any time to do anything, you might reject this suggestion outright, and to be honest we don’t blame you. Having said that, if you’re not bringing in the amount of income that you would like, it might be worth looking into.
The great thing about a side hustle is that you can do it on your own terms. You don’t have to worry about someone else trying to tell you what to do or when to do it, so for the most part it can be pretty chilled out. You can offer your services as and when you have the time to, booking people in only when it’s convenient for you. The stop/start model doesn’t work for some people, but for those who need flexibility as well as some more funds, it’s a great idea.
You can offer pretty much anything as a side hustle as well, which means that the world is your oyster here. Some of the common ones include blogging, dog walking, and babysitting, but there are far more options available also.
Set A Budget For Yourself
If you’re not someone who has ever created a budget, why? Do you have so much money that you don’t need to worry about living within your means and managing your finances correctly? If you are, then this article probably doesn’t apply to you quite as much as it would other people who have less funds that you do. However, if the reason that you have not got a budget is because you simply don’t want one, that’s not good enough. This is going to lead you down the path of debt more often than not, or struggling to make ends meet as you’re spending what you don’t have to spend.
Instead of letting this happen, you should sit down and work out what your budget is, what you’re working with, and what you can afford. Write out a list of all of the things that you have got to pay each month, rounding up to the next whole number as rounding down is never a good idea. Then, you need to write down how much you are getting in each month so that you have the two totals. Once you’ve taken off all of your bills, that’s what you’ve got left for everything else, so you know that’s what you’re working with. This should help you to stay on track, working your spending around this.
The thing with a budget is that you must ensure you are constantly updating it as your financial situation changes. If you don’t do this, there’s no point in having one as it won’t be an accurate reflection of your current financial status.
Dig Yourself Out Of Debt
We mentioned debt briefly above, but this is something that we’re going to have to dive a little deeper into seeing as so many people these days are in debt. We know that life is expensive, and we know that sometimes people end up in debt just to make ends meet, but that doesn’t mean that you have to stay here. For a lot of people, debt becomes a cycle, and you have to make a conscious effort to break that cycle if you ever want any sort of financial freedom going forward.
There are a few different options when it comes to getting yourself out of debt, and you just need to determine which one is going to be the best for you. For example, one of the most common is to set up a payment plan with your creditors, ensuring that you pay on time each month until the debt is cleared. While it might feel like slow progress, any progress is good progress here.
Alternatively, some people may be able to get what is called a consolidation loan which means that you borrow the total amount that you owe to pay off your various debts. This way, all the debt is in one place, and you can focus on paying that off rather than trying to pay multiple people.
Start Understanding Your Taxes
What do you know about your taxes? We’re willing to bet that if you’ve never really looked into it or if you don’t have a career in tax, the answer is not much. It’s tricky and it’s complex, all of which is done for a reason. The thing is though that there’s a possibility that you could be saving more money on your tax than you know, if only you would learn a little bit about the system and how it works. Failing that, you could always seek the advice and counsel of a tax professional who will be able to suggest different options for you.
Something we also want to point out is that if you are coming up to retirement age, or you are a retired person, you need to know all about tax savings for American retirees. The more you know, the more money you could end up saving, putting you in a better position overall for the future. There are so many different deductions and schemes that can help you to pay less overall, but if you don’t know about them, there’s no way for you to make the most of them!
Save Where You Can
Are you a good saver? Some people are, and some people aren’t, but the thing that you’ve got to remember if you’re the latter is that anything is possible if you put enough effort in. It’s about finding a way of saving that works the best for you, and ensuring that you are pursuing this with consistency, that is how you’re going to build up your savings.
So, some people find that putting their spare change in a piggy bank or something like this helps them to save little bits. This works for people who know they don’t have a lot of spare money at the end of the week or the month, but would like to save something so that they can start building it up. Even small bits will make a difference when the time comes that you need it, so that’s something that you have to keep in mind.
Alternatively, you can look into budgeting some money into your monthly budget for savings. This way, you don’t have to think about it, there are no unknown factors, you simply take that money out when you get paid, and then you don’t have to worry about it. You’re putting the same amount away each month, unless something goes wrong, and you know you’re building a nice little security blanket.
Consider Investing
While investing is technically counted as a side hustle because it’s another form of income, we wanted to give it its own separate space here because there’s a lot to understand. You can’t just jump into investing if you don’t know what you’re doing to start with, you have to research, know which types of investment you want to get involved in, how much it’s going to cost, look at potential returns and so on.
We do want to point out though that investing is not a stable source of secondary income. It’s volatile, it’s risky, and you have to be okay with that. However, if you do manage to master investments, you could be bringing in more money than ever, making your life that little bit easier.
So, there you have it then. These are some of the things that you can do to manage your money better and end up living a happier life. We’re not saying that money is the only element to living a happy life, but it sure does contribute whether you are willing to admit that or not. Make a few changes to start with until you get comfortable, and then you can go from there.
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More Recommended Ebike/Scooters
Check out these other ebikes and scooters I've reviewed:
- Urban Arrow Ebike – Last year, I made one of the largest purchases I’ve ever made – I bought a $9,000 electric cargo bike from Urban Arrow. In my Urban Arrow review, I will discuss what it is and why I decided to buy this bike, as well as discuss how impactful a bike like this can be on your journey to financial independence.
- Troxus Explorer Step-Thru Ebike – The Troxus Explorer Step-Thru is a fat-tire ebike that I’ve had the pleasure of riding for a while now. It has amazing power, great looks, and awesome range. If you’re looking for a great fat-tire ebike that offers a lot for the price, the Troxus Explorer Step-Thru is definitely one for you to consider. Check out my Troxus Explorer Step-Thru Review.
- Hovsco HovBeta Ebike – The HovBeta is a folding ebike with great specs and a lot of interesting features, and importantly, it’s sold at a good price point. I’ve had a blast commuting with it and using it to do deliveries with DoorDash, Uber Eats, and Grubhub. Check out my Hovsco HovBeta Ebike Review.
- Vanpowers Manidae Ebike – The Vanpowers Manidae is a fat tire ebike that I’ve been riding as my primary winter commuting bike and have also been using it to do food delivery with apps like DoorDash, Uber Eats, and Grubhub. After clocking in a decent number of miles with this ebike, I wanted to write a post sharing what my experience with the Vanpowers Manidae ebike has been like. Check out my Vanpowers Manidae Review.
- Sohamo S3 Step-Thru Folding EBike Review – A Great Value Folding Ebike – The Sohamo S3 Step-Thru Folding Ebike is an entry-level folding ebike that offers a lot of value for the price point. I’ve been riding the Sohamo S3 for a while now, putting the bike through its paces, and I have to say, this bike has exceeded all of my expectations. Check out my Sohamo Review.
- KBO Flip Ebike – The KBO Flip is an excellent bike. I’ve had a great time riding it and think it’s a versatile bike that can be used for a lot of purposes and can fit a variety of lifestyles. It’s worked out great for me as a general commuter bike and as a food delivery bike. Check out my KBO Flip Review.
- Hiboy P7 Commuter Ebike – The Hiboy P7 is an excellent electric commuter bike that’s offered at an affordable price point. The range and speed of this bike are both very good, so you won’t have any trouble getting anywhere you need to go with it. As a food delivery vehicle, this is also good – with how much range it offers, you’ll be able to work all day on a single charge. Check out my Hiboy P7 Commuter Electric Bike Review.
- Himiway Escape Ebike – The Himiway Escape is an interesting bike for anyone looking for a moped-style ebike. If you’re a gig economy worker, the Himiway Escape is particularly interesting and it’s possible to think of it as an investment, especially if you can opt to do deliveries with the Himiway versus using a car. It’s not cheap, but you can definitely make your money back when you compare the mileage you’ll put on your car versus using an ebike. Check out my Himiway Escape Bike Review.
- Espin Sport Ebike – The Espin Sport is a good ebike for someone who is looking for an ebike that feels and rides more like a regular bike. There are many ebikes that are really only bikes in name. In reality, they’re basically electric mopeds. The Espin Sport, by contrast, is a bike you could probably ride without the battery and you’d feel like you’re just riding a regular bike. Check out my Espin Sport Review.
- Varla Eagle One Scooter – The Varla Eagle One is an excellent scooter that can make sense for a lot of people. It can work as a primary mode of transportation. You can use it to work on gig economy apps like DoorDash, Uber Eats, and Grubhub. And it can also be a recreational vehicle if you’d prefer to use it for that. Check out my Varla Eagle One Review.
- Varla Falcon Scooter – The Varla Falcon is an excellent scooter that offers a good amount of power at a lower price point compared to more powerful scooters. It’s not exactly an entry-level scooter, nor is it a high-powered scooter. I think it fits somewhere in-between those two categories – an intermediate scooter if I had to give it a category. Check out my Varla Falcon Review.
- Hiboy S2 Scooter – The Hiboy S2 is an excellent entry-level commuter scooter that's perfect for someone looking to save some money in transportation costs and improve their commute. Check out my Hiboy S2 Review.
- Hiboy S2R Scooter – The Hiboy S2R is one of the more interesting electric scooters I’ve been able to test out. It’s not a high-powered scooter, but for an everyday transport option, it’s very useful, especially given some of the unique features that it has. Indeed, for the price, the Hiboy S2R might be the best value scooter I’ve used. Check out my Hiboy S2R Review.
- Fucare H3 Scooter – The Fucare H3 is a fun scooter and I’ve enjoyed testing it out. For a daily commuter or quick trips or errands, the Fucare H3 is probably the scooter I’ll use. It’s portable and easy to maneuver, so it’s just easier to take on the road when I need it. Check out my Fucare H3 Scooter Review.
More Recommended Investing App Bonuses
For additional investing app bonuses, be sure to check out the ones below:
- M1 Finance ($100) – This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account. Check out my M1 Finance Referral Bonus – Step-By-Step Guide.
- SoFi Invest ($25) – SoFi Invest is an easy brokerage account bonus that you can earn with just a few minutes of work. Use my SoFi Invest referral link, fund your SoFi Invest brokerage account with just $10 and you’ll get $25 of free stock. I also have a step-by-step guide for the SoFi Invest referral bonus.
- Webull (20 free stock shares) – Webull's current promotion gives you 20 free shares valued between $3-$3,000 each if you open an account using my referral link. Here’s a guide I wrote about how to earn your free shares using Webull.
- Moomoo (15 free stocks) – Moomoo is a free investing app currently offering 2 different referral bonuses if you open an account using a referral link. Read my Moomoo referral bonus guide for more information.
- Robinhood (1 free stock) – Robinhood gives you a free stock valued between $2.50-$225 if you open an account using my referral link.
- Public (1 free stock) - Public gives you a free stock valued between $3-$70 if you open an account using my referral link.
More Recommended Bank Account Bonuses
If you’re looking for more easy bank bonuses, check out the below options. These bonuses are all easy to earn and have no fees or minimum balance requirements to worry about.
- Upgrade ($200) – Upgrade is a free checking account that’s currently offering a $200 referral bonus if you open an account and complete a direct deposit. These bonus terms are easy to meet, so it’s well worth doing this bonus as soon as you can. Here’s a post I wrote with more details: Upgrade $200 Referral Bonus – Step By Step Directions.
- Ally Bank ($100) – Of all the banks out there, Ally is, without a doubt, my favorite. At the moment, Ally is offering $100 to customers who open an eligible Ally account and meet the requirements. Here are the step-by-step directions to earn your Ally Bank referral bonus.
- Fairwinds Credit Union ($175) – Fairwinds Credit Union is offering a referral bonus for users that sign up using a referral link. Fairwinds has no fees or minimum balance, so this is a particularly easy bonus to earn. Since this is a smaller credit union, my gut instinct tells me this offer won’t be around long, so if you’re in a position to meet the bonus requirements, grab this bonus before it’s gone. Here is my step-by-step guide on how to earn your Fairwinds Credit Union bonus.
- Chime ($100) - Chime is a free bank account that offers a referral bonus if you use a referral link and complete a direct deposit of $200 or more. In practice, any ACH transfer into this account triggers the bonus. This bonus is easy to earn and posts instantly, so you’ll know if you met the requirements as soon as you move money into the account. I wrote a step-by-step guide on how to earn your Chime referral bonus that I recommend you check out.
- US Bank Business ($900) – This is a fairly easy bank bonus to earn, since there are no direct deposit requirements. In addition, you can open the Silver Business Checking account, which comes with no monthly fees. Check out how to earn this big bonus here.
- GO2Bank ($50) - GO2Bank is an easy bank bonus that I recommend people take advantage of if they have an easy way of meeting the direct deposit requirement. I like that it’s easy to open the account and that the bonus pays out quickly. Check out my step-by-step guide on how to earn your GO2Bank $50 referral bonus.
- Current ($50) – Current is a free fintech bank that’s offering new users a $50 referral bonus after signing up for an account using a referral link. Current is an easy bonus to earn and also gives you access to three savings accounts that pay you 4% interest on up to $2,000. That means you can put away up to $6,000 earning 4% interest. That’s very good and makes Current an account I recommend to everyone. Check out my step-by-step guide on how to earn your Current Bank bonus.
- Novo Bank ($40) - Novo bank is a free business checking account that’s currently offering a $40 bonus if you open a Novo business checking account using a referral link. In addition to being a good bank bonus, Novo is also a good business checking account. It has no monthly fees or minimum balance requirements and operates a good app and website. Indeed, it’s the business checking account I currently use for this blog. Check out my post on how to easily open a Novo account.
- Varo ($25) – Varo is a free fintech banking app similar to Chime or Current. It’s currently offering a $25 bonus to new users that open a new Varo account with a referral link. The bonus for this bank is very easy to meet, all you need to do is spend $20 within 30 days of opening your Varo account. Check out my step-by-step guide to learn how to earn this bonus.
Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the gig economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.
Kevin is passionate about earning money using the gig economy and you can see all the ways he makes extra income every month in his side hustle reports.
Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin's favorite fintech apps include:
- SoFi Money. A really good checking account with absolutely no fees. You'll get a $25 referral bonus if you open a SoFi Money account with a referral link, and an additional $300 if you complete a direct deposit.
- 5% Savings Accounts. I'm currently getting 5.24% interest on my savings through a company called Raisin. Opening a Raisin account takes minutes to complete, it's free, and all of your funds are FDIC-insured. I explain how it works, why I'm now using it to store my emergency fund and any other cash savings I have, and why I recommend everyone check it out in this review.
- US Bank Business. US Bank is currently offering new business customers a $900 signup bonus after opening a new account and meeting certain requirements.
- M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account.
- Empower. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps I use to track my financial accounts.
Feel free to send Kevin a message here.
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