A new year means new goals, and one of yours might be getting your finances in order. If you’re wondering where to start, I’ve put together six new year financial tips to help you hit the ground running. Each one is designed to help you manage your money and stash away some extra cash. Start on your financial resolutions today.
Use Rakuten for Cash Back
This financial resolution might seem obvious, but you should really use Rakuten to earn Cash Back on all the things you’re planning to purchase anyways. There are more than 2,500 stores and tens of thousands of products and services to choose from, so chances are that the item you’re looking for is eligible for Cash Back. If you have trouble remembering to visit Rakuten.com while you’re shopping, there’s a handy Cash Back Google Chrome extension that’ll activate Cash Back and apply any coupons with a single click.
Monitor your credit with MyFico
Monitoring your credit score won’t save you money directly, but it’s a great way to take stock of all your open accounts and understand your total debt or financial obligations. MyFico is a great way to do that. There are different plans to choose from, which offer varying levels of protection and support. When you understand your total financial picture, you can make more informed decisions as part of your new year financial resolutions.
Set up automatic transfers to your savings account
The old saying “set it and forget it” can work wonders if you apply it to your finances. Set up scheduled transfers to your savings account each month or pay period and watch your rainy day fund build in no time. You can also apply the same method to your debt. It’s a great way to make sure you never miss a payment, and you’ll barely notice the money being moved each transfer. It’s an easy new year financial tip that will go a long way.
Use Rakuten Dining when ordering food
Many of us have found ourselves ordering more takeout or delivery to support local restaurants, and that trend should continue well into 2021. The next time you order up a meal from your favorite spot, make sure you’re using Rakuten Dining, available exclusively in the Rakuten App. You’ll earn 5% Cash Back on every order – takeout or dine-in – and there are more than 10,000 restaurants to choose from nationwide.
Try the envelope method
The envelope method is an easy way to take control of your budget in 2021. First, you need to figure out how much you spend on essentials like groceries and living expenses. Next, you’ll decide how much you want to spend on non-essentials like entertainment. Once you have your pre-defined amounts, you can either take money and quite literally place it in envelopes that are categorized for each expense, or you can set up a virtual version of the system in your bank account.
Take stock of your subscriptions
This past year kept the world at home more often, and it undoubtedly increased our dependence on entertainment and subscriptions to various apps. It’s incredibly easy to let these habits get out of control. That $6 subscription doesn’t seem like a lot, but when you combine it with all your others, you may be paying hundreds of dollars a month on things you probably don’t need. Take a good look at your bank statements and identify everywhere your money is going. Then, pause or cancel any subscriptions or services you don’t need.
And there you have it. Hopefully you can incorporate some of these into your own list of resolutions for 2021. If you want to take advantage of Cash Back and other perks from Rakuten, you’ll need to be a member. Thankfully, it’s absolutely free to join and only takes a minute. Sign up today.