How to save your way to riches!


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Forget trying to find a quick way to get rich – the easier way to get ballin’ is to be more sensible with your money! Most of us understand that there is no such thing as a get rich quick scheme (unless you win the lotto!) and playing the long game successfully gives you a far greater chance of living the rich life. But this means that you have to start your hustle now, and you’ll be sure to reap the rewards in the future!

Here’s how you can work on your savings now, so you can be rich later!

Forget the Joneses

Now is the time to stop looking at what your colleagues, friends, and neighbors are up to and pay more attention to living beneath your means. There is no point in trying to compete or keep up with others when it comes to material possessions. You have no idea how they are paying for the things they own and you don’t want to dig yourself into a debt pit trying to keep up. It’s far more beneficial to live well beneath your means and save as much as possible. This way you will have a sizeable sum ready for your future, which you can then use to have a higher standard of living and top up things like your retirement (or if you are really good at saving you could even retire early!).

Get a passive income

Seriously, one of the best ways to get more money is to hustle up a passive income. Passive incomes are great because you put in some initial effort, then just let it run and reap the rewards, time and time again. If you have a specialism then consider creating an ebook or an online course that you can sell online, these are great ways to make some money on the side. There are other ways to make some extra cash, but they take a little extra effort. Consider doing some remote teaching of a language or a music instrument via video calls – you can charge by the hour and set the schedule up to suit you so it can fit around your day.

Don’t use it? Sell it!

I’d be willing to place a bet that you have some old gadgets banished to some old drawer somewhere in your house – I’m right, aren’t I? The good news is that you don’t need to have the cluttered drawer anymore! Get onto sites like Music Magpie or Zapper – they’ll buy them from you! Also, think about your space – do you have anywhere like an unused room or garage that you can rent? People are always on the lookout for garage space, empty driveways or spare rooms so it’s worth having a look at what you can get for them.

Stop paying the full price

As much as you can, try to avoid buying big-ticket items for the full price. Search online for deals (check out our guide on how to use Google Alerts to grab a bargain) and check for shopping coupons. You might not think it’s worth the effort but over time all your savings will add up, plus it will save the stress of buying something then noticing that it’s cheaper elsewhere!

Remember that with Monese you can easily track all your spending via our Insta-Balance feature, view a handy in-app spending graph and download your statements too. Get your own Monese account now!

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