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December 4, 2018 by Dominique R. Bounds Leave a Comment

How to Earn Cash While You Shop

How to Earn Cash While Shopping -Shopping is one of the great American recreations. So earning money while you shop can only be a plus right? If you use these apps responsibly you can get back some of that hard earned money.

Shopping is one of the great American recreations. So earning money while you shop can only be a plus right? If you use these apps responsibly you can get back some of that hard earned money. Here is a breakdown of the top cash back apps I use quite frequently. Please note that some of the links contain referral information.

IBotta

Ibotta is a free app that pays you for making everyday purchases. Earn cash back on groceries, apparel, cosmetics, and more. There are three ways to earn cashback: receipts, loyalty cards, and mobile in-app purchases. In order to get started with Ibotta you need a PayPal or Venmo in order to cash out your cashback.

I love Ibotta as it holds my coupons for me, and I attached my Kroger loyalty card which allows me additional purchases. When I sit down to make my grocery list, I go through Ibotta and add the items that I am looking to purchase. Once I purchase the items, I upload my receipts and earn my cashback. It is super easy, and one of my favorite features is that I can get cash back for generic, any brand items. Signup today and get $10. f you decide to sign up, please use my referral code: 9s4uka
For more information about Ibotta, here is an article on Balance that goes into more details: Beginner’s Guide to Ibotta – Earn Cash for Shopping

Shopkick

Shopkick is an amazing app that allows you to earn reward points for free gift cards. Kicks can be earned by walking in the store, online, or scanning select items with your Shopkick app. I completely forgot about this app for the longest and recently rediscovered it. I can take a long time to accumulate points, and you need several hundred points to get a gift card. Also, you can only earn gift cards and no cash.

Checkout 51

Checkout 51 is a new cash program that is very similar to Ibotta. It basically works in the same way. Download the app, browse and select the offers, upload the receipts, and receive the cash. Every Thursday new deals and cashback is released. Also, like Ibotta you can stack the savings with coupons and other discounts. For more information with using Checkout51, please check out the following article: Beginner’s Guide to Checkout 51

Ebates

Ebates is one of the more popular shopping portals with cash back offers on various partners. They several different promotions including in-store cash back, online cash back, double cash back, travel and vacations, BOGOs, and gift cards. You can use Ebates through the website, browser extension, or phone app. Linking your debit and credit cards to your Ebates accounts allows you to earn instore cashback. Every 3 months, your reward check (Big Fat Checks) are mailed or sent to your Paypal account.

When using Ebates online, search the website for cashback and click the link, or use the browser extension. The browser extension will show the percentage cashback once reaching the online store. If you are looking for in-store cash back, you have to search the app for in-store offers, and add the link to your debit card. It’s just that simple. If you decide to use Ebates considering using my referral code: DRBOUN2D

Dosh

Dosh is a cashback app that is similar to Ebates. It is accessed through a phone app only. Honestly, using dosh as a part of your everyday life is much easier than Ebates. Once you download the app and connect your card you are paid to shop like normal. Dosh will alert you when you have earned cash back. Earning cashback online is similar to that of Ebates. You have to go into the app, select the store, and follow the link to the online store. I have been using this app for a short period of time and have earned quite a decent about of money in the last few days.

I love using cashback and coupon apps to help me save money. What cashback apps do you and recommend? Please an answer in the comments.

How to Stop Struggling to Manage Your Money

Almost everyone struggles with money some more than others. Being able to manage your money can assist you in building essential wealth. Here are five steps that can you stop struggling to manage your money.

1. Check your Accounts Monthly

It is impossible to manage your money or the status of it. Staying on top of your finances can be hard work. Yet doing it correctly can help you succeed with money. Make a standing appointment to check your bills, auto payments, credit card statements, bank accounts, retirement plans, and pay stubs once a month. Often people discover overpayments of bills, being short on paychecks, and mistakes on including that save them some additional money. Analyzing your monthly bills, and other accounts is an important component of knowing where you stand financially. There are several applications and website that can help you with this.

Mint is a total money management app and website. It can help you track and build a budget, pay your bills, see your credit score, student loans, bank accounts, retirement plans, other loans, etc. Mint provides reminders and notifications for everything from bill payments to unusual spending while allowing you to invest as well. Mint has been a staple in my financial essentials for years, and the addition of bill payments just make my life so much easier. Check it out!

2. Build and Use a Budget

As we discussed previously, building and using a budget can make you the owner of your money instead of it owning you. A budget tells you what money you have to spend and possibly start that new hobby you want. A budget can help you decide how much money you can afford to add to your retirement plan.

Most people look at budgets are a limitation placed on them on their money. Budgets are looked at as horrible things that are only for people who can’t manage their own money. But I assure you that having a budget can help you master your money and increase your wealth in the long run. Building the budget is only step one. In order for a budget to be successful, you have to execute and follow that budget on a consistent basis in order to see results. For more information regarding budgeting, please see my post on The Top 3 Methods Used for Budgeting.

3. Give yourself some discretionary money

One way to remain on budget and stop struggling to manage your money is to provide yourself with some discretionary money otherwise known as personal spending. Allowing yourself some personal spending money will help you to stick to your budget. Personal spending money can be placed for whatever you wish. I recommend using the money for hobbies, magazines, books, notebooks, crafts, etc. If you find yourself overspending with money then increase it within reason.

4. Contact HR regarding Benefits

Often people leave benefits and money on the table with Human Resources. New employees will sign up for the essential benefits offered through their job (medical, dental, vision, and retirement plans), but leave other valuable benefits on the table. Most people are not taking complete and full advantage of their retirement plan benefits, matching, and vesting. While others are completely unaware of their Flexing Spending Accounts (FSA), Health Saving Accounts (HSA), tuition reimbursement, gym membership reimbursement and etc. Make an appointment with your HR professional to make sure you are aware of all of the benefits offered to you by your job.

5. Save 10% of your Income

The 10% savings rule applies to retirement and emergency savings. Getting into the practice of saving 10% of your income, regularly and consistently, could lead to a significant increase in wealth. As I have discussed before it is vitally important to keep an emergency savings fund. But once you get that years’ worth of income saved that extra money could be saved for other things including adding to your retirement plans. For more information, please see my post on Emergency Funds 101.

Hopefully these five items can help you to manage your money more effectively. I know that these steps have helped me. Any other steps that can help you stop struggling with money? Leave a message in the comments.

July 24, 2018 by Dominique R. Bounds Leave a Comment

Emergency Funds 101

If an emergency costing $500 or more occurred tomorrow, could you cover the expense of going into debt or getting behind on bills? According to Bank of America, 57% of millennials aged 27 – 37 have a savings goal, 63% are saving, and 54% budget their money. While some millennials are money savvy, others can’t cover a financial emergency of $500 or more. In 2017, GoBankingRates survey found that millennials aged 18 to 24 years old have less than $1000 in their savings account and almost have had no savings what so ever. Having an emergency fund is vital to financial stability because if an emergency occurs, you are prepared versus landing yourself in debt or getting behind in bills. Not having a financial safety net increases your chance of living paycheck to paycheck and decreases financial stress. Having less financial stress allows you to manage your finances confidently.

What is an Emergency Fund?

An emergency fund consists of money set aside for unexpected events that occur in life such as car accidents, hospital visits, housing issues, employment termination, etc. An emergency fund can provide the financial buffer keeping you safe from financial disaster. Having an emergency fund is the first step for many towards financial stability and getting out of debt. Living paycheck to paycheck, and being unable to move towards your own goals is depressing and having an emergency fund allows you the freedom and stability many people crave.

What is an Emergency?

First, you must define what an emergency is or else you will be spending the money every time something feels like an emergency. I am sorry, but those cute boots you’ve been eyeing going on sale is not an emergency. To determine if something is an emergency ask yourself three questions:

Is it unexpected?
Is it necessary?
Is it urgent?

Another way is to pre-determine the situations in which you will dip into your emergency fund. Make a list of the conditions that you determine to be an emergency such as losing a job, car accident, etc., etc.

How Much Money Do You Need?

Most financial gurus will state that six months of income or expenses should be kept in a savings account. While that may sound like a lot, it is important to remember that this money is for absolute emergencies. For example, if you bring home $3000 a month from income, then that means that six months of income would be $18,000. Of course, $18,000 is a lot of money and thinking about saving that much money can be daunting. Just remember that you don’t have to accumulate all that at one time.

How to Build the Emergency Fund?

Set a time frame in which you believe you could save that amount, set some goals and go for it. Use SMART (specific, measurable, attainable, relevant, and timely) goals to reach your end point.
Break the amount down into smaller subgoals. For example using the $18,000 you may want to break this amount into the following subgoals: $500, $1000, $2000, $5000, $8000, $10K, $15K, $18K.
Set up monthly savings goals so that you get into the habit of saving regularly. Even if you are only saving $100 a month, you will reach $1000 within 11 months.
Save your tax refund. Most individuals get an income tax refund yearly and moving that money to your savings account could easily assist in quickly building your emergency fund.
Budget. Budget. Budget. If you are on a budget, you may find some extra money that you were not aware of. (Budgeting post coming soon. Hint! Hint!)
Automate! Automate! Automate! Set up your direct deposit or your checking account so that money is automatically moved so that you don’t even realize it is there. Money not seen or remembered is hard to spend.

Where to Keep the Savings Account?

If you have access to a high-interest saving account automating your savings to that account would earn you some interest while you are savings which help with the building. But remember that the account should be easily accessible so that you can access it in a pinch. Additionally, you may want to keep it separate from other monies so that you don’t risk spending it.

What Apps Can Help Me Save?

There are a ton of apps for the Android and iOS devices that help to build savings and budget. Here are some helpful ones:

Qapital (https://www.qapital.com/) making saving easy and fun. Download the app, link to your banking account set the rules, and keep away. Qapital is completely free. You can choose from the following rules:
– Roundup Rules
– Set and forget Rules
– Spend Less Rules
– Guilty Pleasure Rules
– Customizable Rules
Digit (https://digit.co/) is a complex app that analyzes your spending and automatically saves every day. The app also allows for goal setting so you can set the goal and forget about it. Digit is free for 30 days then it is just $2.99 a month.
Tip Yourself (https://www.tipyourself.com/) is an only savings jar were money is added. You decide on when you want to tip yourself and just hit the button inside of the app. The app and service are completely free.

July 23, 2018 by Dominique R. Bounds Leave a Comment

The Money Management Guides

Managing your money is an important part of life, and over the years that management will undergo a number of various transitions. Managing your money effectively will assist you with staying atop of your bills, save towards retirement and other goals, pay off debts, and save for upcoming emergencies. As a large part of personal finance is based on preexisting behavior and learned behavior, the following guides will be a mixture of informative, and personal experiences in learning to manage money.

This Money Management Guide serves as a table of contents to other finances posts on this website. As other finances post are completed and posted, this page will be updated.

The Money Management Guides

Emergency Funds 101
Why You Should Build a Budget and Follow It?
The Top 3 Methods Used for Budgeting
Building a Debt Repayment Plan
Credit – Is it Important or Not?
Retirement Plans
Four Online Banking Accounts
Credit Cards and How to Use Them
Budgeting While Broke
Budgeting Apps to Organize Your Finances
Financial Gurus
Banking with Simple -Mobile Banking at its Finest