If you’ve ever wanted to live in a minimalist apartment, here’s your chance. New year, new home.
Have you looked at your closet, bookshelves and stacks of files, and thought, maybe there’s something to be said for a minimalist apartment? For many minimalists, it’s this defining moment that starts them on a journey in which less is more. Less clutter, less stuff and less relentless organizing often leads to more free time to enjoy the things that truly matter.
With spring cleaning a few short months away, now’s a perfect time to use these minimalist apartment tips to create a clutter-free environment. Less clutter, after all, means fewer things to clean.
Not only do you get a jumpstart on spring cleaning your apartment, Neuroscience News reports you’ll also enjoy the side benefits of reduced stress and anxiety. Sounds like a win-win!
Two things can sidetrack the best of intentions: perfectionism and procrastination. These tips will help you stay focused without feeling overwhelmed. And, as a brilliant, unknown author once said about perfectionism, “No one is perfect…that’s why pencils have erasers.” So, let’s get started with one room at a time.
Minimalist apartment tips for your bedroom
Peter Walsh, the international organizer and author of seven organizing and decluttering books, said, “Clutter isn’t just the stuff on the floor. It’s anything that gets between you and the life you want to be living.”
Keep that in mind as you go through the many items you’ve collected in your bedroom. And remember the lesson behind the story of the tortoise and the hare: Slow and steady wins the race. Take it room by room and one area at a time. When you’re down to that last area, possibly just in time for the big spring clean, you’ll feel a sense of renewal and freedom that’s hard to define until experienced.
The dreaded closet
Closets can quickly become storage central with clothes and shoes you never wear and boxes with who-knows-what in them. It’s time to change that.
Every item goes into a keep, donate or discard pile.
To help you decide, ask two questions:
When was the last time I wore or used this? The 90/90 minimalism rule suggests you only keep items you’ve used or will use within a 90-day timeframe.
Does it bring you joy or serve a purpose?
Now, while you have everything out of your closet, it’s a good time to vacuum and clean the baseboards. In fact, as you go through your home pre-spring cleaning, taking time to do the baseboards gives you a great jumpstart.
A natural cleaning solution for this sometimes hard-to-clean area is one part white vinegar to one part water plus several drops of your favorite essential oil, like lemon, lavender or pine. Note: If you have pets, these essential oils are considered toxic. Safer ones for your furry friends include cedarwood, frankincense and clary sage.
Nightstands and dresser
Dressers can be a go-to spot for objects that hold memories, which makes them one of the more challenging decluttering areas.
Start by taking everything off the top and placing it in one of your three piles. If something holds sentimental value, put it to the side.
Pick up each item that holds a memory and consider if you feel a sense of freedom by letting it go or a sense of loss. And remember, memories aren’t in things; they’re in you.
Sort through your drawers. Socks with holes? Discard. Shirts you’ll someday wear but never do? Donate.
Minimalist apartment tips for your kitchen
Stand back and take a look at your kitchen. Can you see the countertop? Now’s the perfect time to consider what kitchen gadgets you actually use.
Do you have an electric wok a well-intentioned relative gave you as a gift that you’ve yet to get out of the box? When deciding which items to donate, it’s helpful to consider that there’s someone out there who may really appreciate it!
Go through each drawer and cabinet one at a time with the same intention. Remove items, place them in one of three piles, clean the cabinet and make a specific spot for everything.
A mixture of two parts baking soda and one part water is great for cleaning spots on painted or laminated cupboards and drawers. Let it sit for a few minutes before removing it.
If you’re short on time, consider doing just one kitchen cabinet or drawer a day.
For the ultimate jumpstart on spring cleaning, consider deep cleaning your appliances one at a time. A good DIY mixture to remove grease is one part white vinegar and one part blue Dawn. This task may require your favorite upbeat playlist and some elbow grease.
Minimalist apartment tips for your bathroom
Pre-spring cleaning offers a great time to go through your bathroom’s often-ignored medicine cabinet and under the cabinet sink.
Check for expired products and items you haven’t used in the last three months. If throwing away old medicine, be sure to scratch any personal information off the label to protect your privacy, and throw the container and medicine away separately.
Go through each drawer and shelf. Are you finding makeup you haven’t used in who knows how long? The Mayo Clinic offers some good advice on when it’s time to say goodbye.
Mascara and liquid eyeliner: safe for three months.
Pencil eye and lip liners: safe for one year.
Water-based foundation: safe for one year.
Oil-based foundation: safe for 18 months.
Cream-based foundation and blushes: safe for at least six months.
Lipsticks and lip gloss: safe for six months to one year.
Minimalist apartment tips for your living room
Your living room should be a sanctuary from the world, a place to relax, rejuvenate and enjoy time with friends and family. Every item should speak to the heart of the matter or be so incredibly functional you can’t do without it.
Remember, fewer things to move means fewer things to clean. With that in mind, remove items from shelves (including bookshelves) and the tops of tables.
One by one, ask yourself, do you really need this item in your life, or is it simply taking up space?
Clean shelves and table tops.
If you need a space for magazines, books and games you’re not ready to part with, lift-top coffee tables provide a great storage area while reducing clutter.
While sorting through your living room, consider vacuuming out the window tracks and washing the windows to get an extra spring-cleaning jumpstart.
Jumpstart spring cleaning and create an intentional life
You’ll be amazed at how getting rid of stuff not only frees up your space but your mind as well. To keep things tidy until the spring cleaning session, ensure everything has a place to call home and finds its way back there after use.
The outcome? You’ll understand the sentiment behind less is more and find yourself living a more intentional life in your newly minimalist apartment.
Still looking for that clean slate? Browse our apartments and houses for rent here.
As the crisp air becomes infused with the spirit of the holidays, our homes undergo a remarkable transformation into havens of warmth and joy. Beyond the festivity of decorations and the joyous gatherings that mark the season, the holidays possess a unique ability to craft indelible memories. Whether it’s the delightful scent of freshly baked treats wafting through the air or the enchanting glow of twinkling lights in every corner, each tradition contributes to the magical ambiance that defines this special time of year.
In the heart of our homes, our small entryways emerge as a canvas for expression, setting the tone for the celebrations within. It becomes a space where the magic of the season is unveiled to everyone who crosses its threshold. Adorning the entryway isn’t just a decorative pursuit; it’s a proclamation of the joy and festivity that awaits within. As we embark on the enchanting journey of holiday decor, let our entryways evolve into portals, calling loved ones with open arms.
Elevate your entryway: Transform your space with the best small entryway ideas
Embracing the holiday spirit involves reimagining your entryway with a touch of magic. From ingenious organizational solutions to heartwarming personal touches, the following ideas are thoughtfully crafted to make your home’s entrance a delightful prelude to the season’s joy.
Wall hooks for organization and style
Wall hooks serve as more than functional fixtures in a small entryway—they seamlessly combine functionality with style. Opt for damage-free hooks for a renter-friendly solution, ensuring your wall space remains pristine. Use these hooks to hang purses, backpacks, keys and coats, transforming the space into an impeccably organized and clutter-free zone.
A gallery wall of family photos for personalized warmth
Expressing your unique personality is effortlessly achieved with a gallery wall next to the front door. Arrange an assortment of pictures featuring cherished moments with loved ones. This straightforward decor idea not only adds visual warmth but also serves as a captivating accent wall, sparking joy and conversation with its personalized touch.
Holiday-themed entryway tree or greenery for a touch of festive elegance
Consider introducing small indoor holiday trees for a touch of greenery and festive cheer. Position them next to a charming wooden bench to enhance the inviting atmosphere. These miniature arboreal displays bring nature indoors, creating a warm ambiance that resonates with the holiday spirit. The scent of evergreen further heightens the sensory experience, especially in a smaller space.
Statement mirror for the illusion of space
A statement mirror in the entryway serves more than a functional purpose; it imparts a sense of spaciousness to the area. Opt for a full-length mirror to achieve a sleek design while maximizing the reflection of natural light. This seemingly minimalistic decor idea transforms the space, creating an illusion of grandeur with minimal effort.
Antique table for functionality and style
Infuse character into your small entryway with conversation-starter pieces, such as antique furniture. These timeless pieces, traditionally made of dark wood, not only add style but also offer functionality. Use the furniture as a display surface for trinkets or a practical spot for stacking your favorite books, elevating the decor to new heights. Antique tables, with their rich history, become more than decor — they are pieces that tell a story and make a big impression.
Menorah display for holiday traditions
Showcasing your unique holiday traditions involves placing a menorah on a floating shelf or a small table. This elegant display adds a touch of cultural significance to your entryway, sharing a glimpse of the meaningful traditions practiced within your home. It becomes a beacon of tradition, sparking conversations and bridging cultural connections.
Twin table lamps or sconces for warm lighting
Brightening up the often dim entryway with the soft glow of table lamps, twin lamps, or strategically placed wall sconces goes beyond mere illumination. These lighting options create an inviting atmosphere, welcoming friends, family and guests with a warm embrace. The play of light and shadows adds a layer of sophistication to the entryway, setting the stage for a cozy welcome.
Elevate your entryway and embrace the season’s greetings
Incorporating these thoughtfully curated small entryway ideas will not only leave a lasting impression but also provide a warm and inviting welcome to guests and loved ones. Whether you opt for a minimalist approach with a statement mirror or indulge in a more elaborate decor featuring antique furniture and gallery walls, seize the opportunity to transform your small space into a memorable entrance, setting the stage for creating cherished holiday memories.
If you’re still in search of the perfect rental to bring your festive vision to life, explore and find your ideal apartment or home for rent here first. A space thoughtfully adorned with the spirit of the season becomes more than a home; it becomes a haven of joy and celebration, embracing the essence of the holidays throughout the year.
Wesley is a Charlotte-based writer with a degree in Mass Communication from the University of South Carolina. Her background includes 6 years in non-profit communication and 4 years in editorial writing. She’s passionate about traveling, volunteering, cooking and drinking her morning iced coffee. When she’s not writing, you can find her relaxing with family or exploring Charlotte with her friends.
Designing high-end homes is a multi-layered process rooted in a deep understanding of the homeowner’s lifestyle and personality. While infusing creative distinction and achieving harmonious fusion are the fundamental principles of designing a personalised space, architectural elements such as dynamic scaling, tailored circulation and curated spaces that showcase the occupant’s unique style and personality are essential in transforming a liminal space into a unique yet authentic reflection.
In an interview with HT Lifestyle, Vineeta Singhania Sharma, Founder Partner and Principal Architect at Confluence, highlighted that the fundamental design principle in creating spaces that not only cater to the user’s needs but also reflect their individuality and celeb-like charisma is defining the balance between the unique lifestyle and personality of the client. She elaborated –
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Defining the Style: The first step is to define the purpose of the home. Is it a maximalist paradise, a minimalist retreat, or does it embrace the latest trends, or perhaps something more timeless and established? While some clients opt for an inward-looking design that creates a sanctuary within, like Kendall Jenner’s 6,625-square-foot Spanish-style Malibu mansion, others prefer merging indoors and outdoors seamlessly, blurring the lines between nature and luxury—similar to Dakota Jonhson’s serene getaway estate in LA, designed by architect Carl Maston. It is essential to understand the occupant’s taste by pinpointing the critical elements that shape near-ordinary spaces into exceptional homes.
Scale and Dynamic Design: High-end homes are not just about opulence; they are dynamic and engaging. We must design with scale in mind. Whether a cosy reading nook or a grand dining hall, each room should tell a distinct, engaging story that amplifies the space’s dynamism and contributes to the narrative.
Circulation for Lifestyle: The layout and circulation within the home should be tailored to the homeowner’s lifestyle. High-end homes demand distinction. However, such homes require privacy but often require accessibility for staff and guests as well. This balance is essential to ensure the space is functional and comfortable.
Creative Distinction: High-end homes are designed to stand out. To achieve the delicate balance between privacy and accessibility, featured spaces with iconic pieces as placeholders are encouraged. This could be a unique sculpture, a one-of-a-kind chandelier, or even a custom-designed piece of furniture, creating multiple focal points within a space that define the ubiquitousness of a high-end celebrity.
Harmonious Fusion: What makes these homes exceptional is combining an unusual mix of interior elements—furniture, lighting, art and rugs—into an eclectic blend of exclusivity while maintaining harmony. Each piece contributes to a unified, intriguing atmosphere. The challenge lies in selecting pieces that may seem unrelated at first glance but, when brought together, create a cohesive and intriguing atmosphere that resonates with the user’s dynamic personality.
The Art of Layering: High-end homes are a canvas for artistry. Every space is carefully layered with art, statement pieces, textures, and other objects that reflect the client’s personality. Whether it’s a collection of vintage photographs, a gallery of contemporary art, or a display of cherished memorabilia, these layers add depth and character to the living spaces. Each corner must be strategically curated with carefully selected art, statement pieces, textures, and objects that mirror the overall statement and purpose of the home, imparting depth and character to the omnipresent lifestyle of a celebrity.
According to Kuntal Vyas Aggarwal, Founder and Design Head at Resaiki Interiors and Architecture Design Studio, luxury decor is all about the finer details. He shared, “It begins with meticulous craftsmanship using premium materials like fine woods, metals, and textiles, often employing artisanal techniques such as hand-carving and hand embroidery. Elaborate ornamentation, including decorative mouldings and intricate carvings, adds a sense of grandeur and sophistication. Luxury is further heightened by the inclusion of rare materials like marble, onyx, precious metals, and gemstones, seamlessly integrated into various elements of the space. Customisation is essential, allowing for unique and exclusive designs through custom-made furniture, bespoke cabinetry and personalised finishes.”
The interior decor expert added, “Luxury extends to textiles and fabrics, with high-quality materials like silk, velvet, cashmere, and fine wool, adding visual richness and tactile comfort. Fine art pieces, antiques, and collectables are thoughtfully curated to enhance the decor’s cultural and historical significance. Lighting is carefully considered, with crystal chandeliers and hand-blown glass fixtures creating a beautiful ambience. Achieving symmetry and balance in the design contributes to a harmonious and visually pleasing environment. Modern technology seamlessly integrates into luxury decor, offering convenience through hidden audiovisual systems and automated climate control while maintaining a clean aesthetic. Significantly, luxury decor is balanced with comfort, with plush furnishings, ergonomic designs, and thoughtful layouts, ensuring that these spaces are inviting and relaxing.”
She recommended –
Limitless luxe decor: Space is a defining element of luxury decor. It encompasses several aspects that influence the perception of luxury. Luxury often entails generous space, with open floor plans and high ceilings exuding grandeur. Uncluttered designs and minimalism convey sophistication, while functionality and organisation are vital, achieved through custom storage solutions.
Abundant natural light, premium materials, and architectural details like columns enhance the perception of luxury. The seamless spatial flow between rooms and custom designs tailored to homeowners’ preferences add exclusivity. Integrating outdoor spaces and maximising views contribute to luxury and cutting-edge technology for convenience and entertainment. In summary, luxury decor involves lavish materials and thoughtful, spacious, and well-designed interiors that radiate sophistication and opulence.
2. Integrated home automation: Automation is a defining aspect of luxury decor, infusing convenience, efficiency, and a futuristic feel into living spaces. It embodies modernity and sophistication, meeting the expectations of a luxurious lifestyle. Automation’s contributions to luxury decor include –
⦁ Smart Lighting: Customizable lighting scenes, adjustable intensity, and voice control create a luxurious ambience while saving energy.
⦁ Climate Control: Automated HVAC systems allow personalised temperature control for each room, optimising comfort and energy efficiency.
⦁ Home Security: Advanced security systems with intelligent doorbells and sensors enhance safety and convenience.
⦁ Integrated Audiovisual Systems: Home theatres with automated screens and sound systems provide cinematic experiences.
⦁ Motorized Window Treatments: Remote control of blinds and shades enhances natural light control and privacy.
⦁ Smart Home Control: Centralized automation hubs and voice-controlled assistants offer hands-free management.
⦁ Customizable Scenes: Automation systems enable mood-setting scenes for various occasions.
⦁ Energy Efficiency: Automation features like smart thermostats and lighting controls reduce energy consumption.
⦁ Home Integration: Seamlessly integrated systems enhance user-friendliness.
⦁ Customization: Tailored automation adds exclusivity to decor.
Automation defines luxury decor by blending convenience, comfort, and control into living spaces, elevating their functionality and enjoyment.
3. Geographic directions and energies: They play a significant role in defining luxury decor, mainly through feng shui principles and cultural influences. Feng shui considers the orientation of a space, elemental balance, energy flow, natural light, colour choices, materials, and outdoor areas to create a harmonious environment. Luxury decor often aligns with these principles, using favourable orientations, balanced elements, unobstructed energy flow, abundant natural light, and colour associations to evoke opulence.
The choice of materials and textures, personalised spaces, and environmental sustainability further enhance the sense of luxury and well-being. In summary, geography and energy, guided by feng shui and cultural insights, define luxury decor by fostering balance, positive energy flow, and tranquillity, promoting a visually pleasing and harmonious living environment.
4. Meaningful and unique artwork: High-quality artwork is pivotal in defining luxury decor and infusing sophistication, cultural richness, and aesthetic value into a space. Luxury decor prioritises aesthetics, and art serves as a captivating focal point. Artwork with cultural or historical significance adds depth, while exclusivity is achieved through original pieces or limited editions by renowned artists. Art becomes a means of personal expression, allowing homeowners to showcase individuality. It also showcases artistic mastery and can be an investment.
Art influences a room’s atmosphere, scale, and balance, serving as conversation starters and intellectual engagement. Expert curatorial integration ensures seamless and sophisticated incorporation, making art an integral aspect of luxury living environments.
Inside: Balancing a shoestring budget is possible and provides great rewards. With savings and budget strategies, you will find genius tips to manage your finances smartly!
With the rise of economic inflation, a growing number of people are finding the need for shoestring budgets to effectively navigate through their expenses.
Whether it’s planning for a low-cost holiday, initiating a frugal home makeover, or launching a start-up business with minimalist funds, the concept of a shoestring budget comes into play.
Moreover, it’s not only limited to low-income families but also extends to larger households and entrepreneurs that need to strategically lessen costs to achieve their goals. This is how many people reach financial independence sooner.
Then, let’s talk about a shoestring budget – an effective tool used to stretch finite resources, manage money wisely, and achieve financial goals, all while minimizing expenses.
If you’re familiar with the feeling of every dollar in your wallet counting, then this blog post is for you.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
What is a Shoestring Budget?
A ‘shoestring budget’ means to accomplish a task or a project within a very limited or bare minimum budget. The shoestring budget work strategy involves curbing discretionary spending dramatically to take care of high-priority expenses.
Understood across various contexts like travel, events, and lifestyle, the term implies an approach of resourcefulness and discovery of low-cost alternatives to achieve desired results.
Not exclusive to households with low incomes, working with a shoestring budget expresses the art of making what’s deemed impossible possible, navigating time constraints, and maximizing minimal available funds.
Shoestring Budget Idiom Definition
According to Merriam-Webster, the official definition of a shoestring budget is: 1
“involving a relatively small amount of money for planned spending.”
‘Shoestring Budget’ Origin
The phrase ‘shoestring budget’ has an intriguing origin story that dates back to the 1800s in the United States. Fact-checks reveal that this term is indeed a reference to the precarious nature of a thin and weak shoestring, metaphorically implying a scarce and strained budget.2
Several theories have been proposed regarding its original use.
One theory suggests that the term ‘shoestring gambler,’ meaning someone gambling with a limited budget, might be the precursor to the idiom.
Another theory, based on British history, suggests that prisoners would lower a shoestring out of their cell to collect small donations from passersby, symbolizing the idea of managing with few resources.
Despite the debates around the phrase’s exact origins, it is undisputed that it signifies a tight budget situation.
How to live on a shoestring budget?
Living on a shoestring budget can be challenging but doable with a bit of dedication and planning.
Start by reviewing your regular expenses per month.
Cut down on unnecessary expenses as much as possible.
Monitor your small, daily expenses as they can add up significantly over time.
Refinance any existing debt to reduce interest payments.
Renegotiate contracts with utility providers, subscription services (consider uninstalling unused ones), or insurance for better rates.
Shop at thrift stores or choosing used items over brand new can also help you save.
The key to surviving a shoestring budget is self-control and determination to avoid impulsive spending.
Your goal is to prioritize essential needs over wants – a no spend challenge will help you with this. Remember, regular tracking and analysis of your personal site usage can provide valuable insights to manage your budget better.
How to travel on a shoestring budget?
Embarking on an adventure while on a shoestring budget requires creativity and pre-planning.
Be flexible with your travel dates, destinations, and mode of transport to take advantage of the best deals available.
Consider options such as budget airlines, off-peak travel times, and less touristy locations.
Staying in budget accommodations, or even trying out housesitting, can significantly cut down your lodging costs.
Eating at local fresh markets rather than restaurants will not only save you money but also provide a more authentic experience.
Plan your daily activities; consider free local events, parks, and attractions.
Always carry a water bottle to avoid buying expensive drinks.
With careful planning, traveling on a shoestring budget can make your journey all the more rewarding and memorable.
How to Save Money on a shoestring budget?
Saving money while on a shoestring budget might appear challenging, but it’s not impossible. Begin by monitoring your expenditures and identifying areas where you can potentially save money. Also, consider substituting costly activities with more affordable or free ones.
Every small action counts when you’re on a shoestring budget, and these savings accumulate over time. Remember, consistent small savings can make a significant difference in the long run.
Starting a business on a shoestring budget
Starting a business on a shoestring budget requires careful financial planning and innovative thinking. Indeed, it may sound challenging, but numerous shoestring startups have surged to success by optimizing their business budgets. It is all about crafting a solid business plan that clearly delineates your budget and the efficient utilization of each dollar.
Maintain focus on essential expenses only. These expenses might include mandatory licenses, essential software for business operations, or even crucial industry-specific tools. Leverage your personal and professional networks for free advice and resources.
Also, make the most of free or low-cost online marketing strategies as these can be vital to shoestring business budgets. You can use effective strategies, like using different social media platforms for marketing or creating a blog, to broaden the reach of your business.
Remember, having the capital to start is important but it’s secondary to a truly novel idea, intense hard work, and a strategic approach. So, let your creativity thrive and work passionately towards growing your business.
Shoestring Budget Examples
Shoestring Vacation
Wedding or Honeymoon
Home Improvement
Business on a Shoestring Startups
Savings Goals
Financing your Next Car
A shoestring budget is not always related to bigger projects. It can also refer to the scenario where the money required for daily expenses, buying an item, or completing a project isn’t enough. Here, the person has to be creative and find ways to stretch the money to make ends meet.
Practical Tips for Surviving on a Shoestring Budget
In this section, we will present practical advice for managing a shoestring budget, derived from case studies of my readers and my own personal experience who have thrived despite financial limitations.
Whether you are budgeting on a low income or looking to reach FI number faster, this guide has you covered.
1. Starting with a Budget: Your First Step
Before you embark on your journey of living on a shoestring budget, the first step is to define a realistic budget.
Understand your total earnings and list all your monthly expenses.
Identify which expenses are necessary (rent, utilities, groceries) and which are discretionary (eating out, entertainment).
Now create a spending plan such that it covers all necessities, allocates some amount towards savings, and leaves a little for leisure.
A well-defined budget will be your roadmap to financial management success.
Remember, the goal is to live within your means but also to ensure you aren’t depriving yourself.
2. Make Saving Automatic
A proven way to save money on a shoestring budget is to make saving automatic.
In such a method, you can set up an automatic transfer when you get paid. Another idea is to use Acorns, which rounds up purchases made with your debit card to the nearest dollar and deposits the change daily into your savings account.
Essentially, you’re saving without even noticing it! These little amounts add up over a period and can really bolster your savings.
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3. Cut Back on Expenses
One of the most effective ways to operate within a shoestring budget is by reducing expenses. These can be small lifestyle changes, like cutting back on takeaways and preparing meals at home, walking or cycling instead of driving short distances or canceling unused subscriptions.
Specifically, you are looking to cut back your flexible expenses the most.
4. Look for Ways to Make Extra Money
Alongside cutting back on expenses, we continually stress the importance of finding ways to supplement your income. This could be from a side hustle, passive income, part-time job, or even a pay raise.
This additional income can help ease pressure on your shoestring budget. Also, it might provide an opportunity to explore new interests or passions. By diversifying your income streams, you make your financial situation more secure and flexible in unexpected circumstances.
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5. Utilize Free Resources
When it comes to saving money on a shoestring budget, the key is to utilize free resources and focus on essentials before spending money.
Thankfully, there are many vital ways to do this:
Find free things to do without spending money.
Use your local Buy Nothing group to find items before spending your hard-earned cash.
Learn and enhance your skills through free or low-cost online platforms like Udemy, Coursera, and YouTube.
Leveraging such resources can have a significant impact on your budget, leading to substantial savings for other meaningful expenses.
6. Look for Deals and Coupons
Another wise strategy when operating on a shoestring budget is seeking out deals and using coupons whenever possible. This game-changing approach can be applied to your grocery budget, dining, clothing purchases, and even travel.
Search for coupons in newspapers, magazines, or on coupon websites. Perhaps, subscribe to newsletters from your favorite retailers, a move that will provide straightforward access to information about sales and discount codes. Be mindful while shopping online or in stores, and always remember to rein in impulses, checking for any available discounts before purchasing.
Moreover, take advantage of holiday sales or Amazon Prime Day for larger purchases. Taking a little extra time to hunt for the best deals can significantly cut down your expenses and help you stick to your shoestring budget.
7. Utilize Household Resources
Leveraging what you already have in your household is another fantastic way to save money.
For instance, before running to the grocery store, take stock of what’s in your pantry and design meals around these items.
Also, consider repurposing and upcycling household items. An old ladder can turn into a chic bookshelf; jars can be used for storage.
Optimizing utility usage by switching off lights when not in use and limiting water usage can also reduce bills.
Start treating everything in your house as a resource with a specific purpose and value, including leftover food, old clothes, and used furniture. Every household item utilized efficiently can add up to visible savings over time.
8. Get Rid of Unnecessary Expenses
Perhaps the most crucial aspect of managing a shoestring budget is identifying and eliminating unnecessary expenses. These could include subscriptions to magazines or online services that you hardly use, dining out frequently, or buying expensive coffee daily.
Analyze where your money is going every month. You’d be surprised how the smallest changes can have a big impact on your budget. Eliminating even a few unnecessary monthly expenses can add up to substantial yearly savings.
Remember, the key is not to deprive yourself of everything but to find that balance between living comfortably and within your means.
9. Reduce Your Monthly Rent or Mortgage Payment
Want to slash a significant expense of your shoestring budget by considering ways to reduce your rent or mortgage payments? Could you move to a more affordable area or a smaller property?
For homeowners, look at refinancing your mortgage or negotiate better terms, resulting in lower monthly payments. Always remember to check if any fees would apply before proceeding with refinancing.
If relocation isn’t an option, consider renting out a spare room in your home or offering it on a vacation rental site.
If you are a renter, look at becoming a permanent housesitter.
Lowering these substantial expenses can make a huge difference in your budget, allowing you to allocate funds to other pressing areas, save, or even invest in building wealth.
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10. Be Creative When Paying Bills
When managing a shoestring budget, it can be helpful to get creative with the way you pay your bills. Sometimes, splitting payments between paychecks or paying on certain days can make managing your budget easier.
You could also consider bill negotiation services or check if you qualify for reduced rates based on your income. If meeting all payments becomes too strenuous, communicate with your service providers about it. They may have hardship programs or payment plans to assist during tough financial periods.
Remember, the key is to avoid late fees or penalties that could further strain your budget.
11. Leverage Technology to Save Time and Money
Make the most of technology to manage your shoestring budget. There are numerous mobile apps and online resources to help you track your expenditures, save money, pay bills, and even invest.
Budgeting apps can help you keep track of your income and expenditure, warn you when you’re nearing your limit, and provide valuable insight into your spending habits. Digital wallets can help you make secure transactions without the fear of losing cash.
Moreover, there are apps and websites to compare prices of different products, get the best deal alerts, apply instant coupons, or even earn cashback like Rakuten.
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Yearly subscription-based model to use the platform.
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12. Participate in a Mini Savings Challenge
As a fun and effective way to boost your savings, consider embarking on a mini savings challenge! These challenges break the intimidating concept of saving into manageable, small steps. They can vary based on duration and the amount you’re aiming to save.
For example, in a 52-week challenge, you save $1 in the first week, $2 in the second, and so on, until you’re saving $52 in the 52nd week. By the end of the year, you’ll have saved $1,378!
Not only does it make saving fun, but it also allows you to develop a consistent saving habit, crucial when budgeting on a shoestring.
Frequently Asked Questions (FAQ)
If you’re fortunate enough to have a budget that’s more than a shoestring, the principles discussed still apply. Having more resources doesn’t mean you should ignore opportunities to save and invest wisely.
So, whether your budget is minimal or ample, consider adopting these healthy financial habits to achieve your financial goals. Make sure to sock away any extra money into a savings or investment account so you aren’t tempted to spend it.
Starting to invest on a small budget involves several key strategies. You must pay yourself first each and every time you are paid.
Set up an auto savings plan through a high interest savings account to make sure you start earning interest.
Contribute enough to your 401(k) to take full advantage of your employer’s match, if available, and consider mutual funds with an initial investment as low as $500.
Pick one solid company wherein you believe data and financials are stable enough to invest in, and buy 1 share.
If you receive a work or tax refund bonus, allocate it towards your investments instead of immediate spending.
Key Takeaways: Managing Money Well on a Tight Budget
Managing finances on a shoestring budget can be a daunting task, but with the right strategies in place, it can become a way to achieve financial health.
This is something I did when I was a stay-at-home mom looking for ways to make money.
In the grand scheme of things, managing a shoestring budget is less about the money and more about your mindset. Yes, limited resources can present challenges, but your attitude and creativity can make a difference.
Embracing frugality, taking control of your financial choices, and building resourceful strategies can turn your constraints into opportunities.
Money comes and goes, but the ability to manage it effectively is a life skill that will always be beneficial. The real wealth lies in your ability to live within your means and make the most of what you have – turning your shoestring budget into a stepping stone towards financial independence and stability.
Remember, every journey starts small.
Day by day, these tips can help you improve your financial stability and achieve your goals, regardless of your budget size.
Source
Merriam-Webster. “on a small/tight/shoestring budget.” https://www.merriam-webster.com/dictionary/on%20a%20small%2Ftight%2Fshoestring%20budget. Accessed December 5, 2023.
Grammarist. “Shoestring Budget – A Creative Expression for Limited Money.” https://grammarist.com/idiom/on-a-shoestring-and-shoestring-budget/. Accessed December 5, 2023.
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Knowing what colors to choose for your home decor can be tricky. It’s not just about choosing a palette for one room, but ensuring there’s some level of cohesiveness between each of the rooms.
Having a sense of togetherness with your color trends throughout your home will help make your home appear more considered from a design perspective. However, this doesn’t mean you need to have the same colors in every room; it’s all about deciding on one broader palette that can then be interpreted differently to fit each of your rooms.
Jordan Samson who shared a video explaining these intriguing color rules.
‘Start with a defined color story for your entire home, but this doesn’t mean that you need to use the same three or four colors in every single room,’ explains Jordan. So, if you favor modern, minimalist decor, then your color palette would most likely begin with decorating with neutrals. Or, for a mid-century modern home, as Jordan uses as an example in his video, you would start with a palette of earthy colors, such as forest green and mustard yellow.
‘From there we can build out the color palettes for each room,’ says Jordan. ‘This could look like a living room with two of those colors dispersed with the drapery, lighting, and accent chairs, and then in the kitchen, maybe we introduce a different tone of green for the tile and sprinkle in some wood accents. And then in the bathroom, we’re introducing another color entirely with the blue tiles or even more simply with bath towels.’ the designer explains.
By following these ideas, you will ensure that the look is consistent throughout your home, yet there’s enough difference between your room color ideas so it doesn’t look bland.
Once you’ve decided on the main colors for your walls or tiles, Jordan adds that you can continue this color theory with smaller decor pieces too: ‘Think smaller scale with easier-to-change items like vases, artwork, throw pillows, and blankets, bedding. These are all really great ways to introduce and play around with different colors within your story.’
If you’re finding it difficult to know where to start with choosing colors for your home, this is a good place to begin. Once you decide on the overall palette, which should come naturally from your design style, you can’t go too wrong with experimenting with these hues throughout your home decor ideas.
When you have a new baby on the way, you may be eager to create a nursery that’s comfortable, functional, and stylish. You can drop big bucks to turn a spare room into a dream nursery. But if you’re willing to put in some elbow grease and think outside the box, you could get the job done for much less.
Here are some creative DIY nursery ideas that won’t break the bank.
Use Paint to Make a Big Impact
If home improvement shows have taught us anything, it’s that paint can be a powerful — and cheap — way to change things up. In fact, for the cost of a few gallons of nontoxic paint, a roll of painter’s tape, and drop coverings, you can completely transform any room.
The options are limited only by your imagination. Paint all four walls the same shade to create a cohesive look, or focus the color on one wall to make a real statement. Use painter’s tape to create shapes or patterns, like stripes or chevrons, that pack the same punch as wallpaper but without the mess. If you’re artistic, paint a mural with animals or popular cartoon characters. Or considering all the time your baby will spend in their crib, you may decide to spiff up the ceiling with a pop of color.
Price tag: $125 to $250 💡 Quick Tip: Need help covering the cost of a wedding, honeymoon, or new baby? A SoFi personal loan can help you fund major life events — without the high interest rates of credit cards.
Get a Soft Rug
If you have hardwood floors, a soft rug won’t just help your feet stay warm when you come in for late-night feedings. You’ll also want a cozy surface for your baby to play, and later, learn to crawl.
You can get an area rug at a local hardware or furniture store that can bring out some of the colors in your decor and provide a soft buffer between your baby and the floor.
Price tag: $200
Make Your Own Art
Blank walls are boring, but art can be expensive to buy. So why not make your own creations?
One idea: Get jumbo letters from the local craft store that spell out your baby’s name and hang them on the wall.
Or figure out the theme of the room to help you come up with other ideas. For example, you can go to the zoo with a camera and then print out pictures of animals for an animal-themed room. Or become inspired by the night sky and put up sparkly stars and a moon on the walls. You can also find cool fabric and tack it onto a canvas for a fabric panel.
Price tag: From $25
Help Baby Sleep
Having a newborn goes hand in hand with frequent wake-up calls. But there are ways you can help baby settle down after a 3 a.m. feeding or stay asleep during a mid-afternoon nap.
Blackout curtains are a great way to prevent sunlight from seeping through window coverings — and interrupting a good nap. Making a set is doable with the help of a sewing machine and a trip to the local fabric store.
Hanging a mobile above the crib can also keep your little one entranced until their eyes start to close. You can make your own with everyday household and craft supplies, like pom poms, fabric, or paper. Simply attach the items to a string or embroidery floss, attach to a lightweight frame or embroidery hoop, and hang.
Price: From $10
Get Creative With Storage
Even if you’re a minimalist, chances are your baby will require a lot of stuff: clothes, toys, diapers, pacifiers, books…you get the idea. As you’re putting together your nursery, be sure you have ample places to store all those things. Bins, boxes, shelves, and drawers can make clean-up a breeze.
Storage systems don’t have to be expensive. You can get budget-friendly ones at local discount furniture stores. Or check online or garage sales for a used piece of furniture that you can refinish or repaint.
Just remember to fasten all the furniture to the wall so that when your baby starts pulling themselves up and walking, nothing topples over on them.
Price: From $100
Recommended: 25 Tips for Buying Furniture on a Budget
How Do You Pay for a Nursery Room Renovation
DIY-ing a nursery may save you money, but you’ll still need to make room in the budget. This can be a challenge if you’re also trying to balance the cost of hospital bills, doctor’s visits, and pricey essentials like a stroller, car seat, or crib. Here are some options you may want to consider.
Personal Savings
Tapping into your savings allows you to access the cash you need right away. However, if you’re planning to take unpaid maternity leave or are budgeting for medical expenses, you may decide it makes more sense to leave your emergency fund untouched.
Credit Card
Like personal savings, a credit card lets you pay for DIY nursery supplies now. However, at the end of the month, you’ll be billed for whatever you’ve spent. It’s important to make at least a minimum payment by the due date to avoid a late fee. But to avoid paying interest entirely, you’ll need to pay off the balance in full each month.
Recommended: Tips for Using a Credit Card Responsibly
Personal Loan
Generally speaking, a personal loan can be used for virtually anything, including decorating a nursery. Interest rates are relatively low, which means that you can likely get a loan at a low rate compared to a credit card. For that reason, it might be a much better idea than putting the expenses on a credit card, which typically have higher interest rates.
A typical term length for a personal loan is anywhere from one to 10 years. Extending your repayment over multiple years could reduce your monthly payments. But keep in mind, the longer the term length, the more you’ll pay in interest over the life of your loan.
When looking for a loan, you may want to look into securing a fixed interest rate so that you can lock in your low rate over the life of your loan. 💡 Quick Tip: Some personal loan lenders can release your funds as quickly as the same day your loan is approved.
The Takeaway
When you’re expecting a new baby, you naturally want to give them the world. This may include a room they’ll be happy to call their own. Fortunately, you can get the nursery of your dreams without having to spend a lot of money. There are creative, affordable ways to create a statement, like painting the walls or ceiling a fun shade or designing an adorable mural. Not as crafty? Explore simple, inexpensive projects, like making a mobile to hang over the crib.
If much of your budget is already earmarked for baby essentials and medical bills, you may want to explore alternate ways of paying for a nursery renovation. You could draw from your personal savings, use a credit card, or explore taking out a personal loan.
Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. Checking your rate takes just a minute.
SoFi’s Personal Loan was named NerdWallet’s 2023 winner for Best Online Personal Loan overall.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
In the past, investing was thought of as something only wealthy people did. And unfortunately, many people used this as an excuse to put off saving for retirement, saying they would do it when they earned more money.
But if you wait to start investing, you lose out on the benefits of compound interest and shortchange your retirement savings. So, it’s best to get started as soon as possible, even if you only have a bit of money to tuck away every month.
One of the easiest ways to invest money is by using micro-investment apps. This article will explain what micro-investing is, how it works, and six micro-investing apps we recommend trying out.
10 Best Micro Investing Apps
Micro-investing apps make it easy to get started with small amounts of money and learn the basics of investing. We’ve compiled a list of the best micro-investing apps on the market today. Whether you’re a beginner or a seasoned investor, you’re sure to find an app that fits your needs and investment goals.
1. Robinhood
Account minimum
Margin accounts, ETF’s, crypto
Great for beginners!
Robinhood aims to make investing accessible to everyone, which is evident in the fact that the company doesn’t charge any commission or management fees.
In addition, there’s no charge to open a brokerage account, and bank transfers are free as well.
The app is designed for beginners, so there is no confusing terminology, and the interface is easy to use.
Unlike other micro-investing apps, Robinhood lets you trade full stocks and cryptocurrencies like Bitcoin. However, it doesn’t offer mutual funds and bonds.
Check out our in-depth review of Robinhood.
2. Axos Invest (Formerly WiseBanyan)
Account minimum
New investors
or goal-based investing
You can get started with Axos Invest (formerly known as WiseBanyan) for just $1. The company doesn’t charge any trading fees for the most basic version. But if you upgrade to one of the premium versions, the company does charge fees.
Axos Invest focuses on goal-based investing, so once you sign up, you’ll be prompted to create your first “Milestone.”
Then, you’ll enter how much you want to save and by what date. From there, Axos Invest recommends how much you should save to reach your goal.
3. SoFi Invest
Account minimum
$0 for Automated Investing
$1 for Active Investing
Active and Hands-Off Investors
SoFi is a well known brand in the personal finance space, and their investing app is another high quality product.
This investment service provides users with the ability to either trade actively or opt for automated trading tools to take care of your account.
SoFi is geared towards trading in fractional shares, which they refer to as “stock bits”. This means the app is a solid choice for those wanting to invest their spare change.
You can also tap into savings accounts or make larger deposits to add more to your investment accounts.
4. Plynk
Account minimum
$2 per month
New investors
Plynk is designed to guide your learning while you begin to invest. The Plynk app offers investors access to a selection of stocks, ETFs, mutual funds and four cryptocurrencies. And you can start investing with just $1.
One of the best things about Plynk’s platform is the straightforward, easy-to-understand language. You won’t find technical jargon or complex charts and tables.
The Plynk app also allows investors to easily set up dollar-cost averaging, which is an ideal investing technique for many new and experienced investors.
5. Webull
Account minimum
Active traders and investors
Webull is a stock trading app offering free stock trading as well as free trades on ETFs, options and cryptocurrencies.
Webull also allows users to trade fractional shares, making it a great choice for micro investing.
Webull provides users with plenty of powerful tools to assist with in-depth trading analysis, making it a solid option for active and experienced traders. Plus, setting up a Webull account is free and there are no account minimums to worry about.
6. Stash
Account minimum
$1 per month
New investors
or tax-advantaged retirement accounts
Stash is another hands-off micro-investing app designed for beginner investors. After you sign up, Stash will ask you a series of questions to determine your tolerance for investment risks. You will be labeled as a conservative, moderate, or aggressive investor.
One of the unique things about Stash is that you can choose the types of companies you want to invest in. So if there is a particular cause or type of company that you’re interested in, you can set that in your investing preferences.
After you’ve chosen the types of companies you’d like to invest in, you’ll set up your “Auto-Stash.” You choose how much you want to invest and how often.
7. Public
Account minimum
(1-2% markup on crypto)
Young investors
Public.com is a blend of both investment and social media platforms. It’s designed for younger and socially oriented investors who would like to own fractional shares of stocks and ETFs.
You can share ideas within a community of like-minded investors. You might think of it as a kind of investing social network.
The aim of Public.com is to create an inclusive and educational community focused on stock market trading and investment.
For young investors who wish to align their social and investing preferences, as well as learn from other investors, Public.com is a great option.
8. Betterment
Account minimum
Low balance investors
Goal-based investing
If you’re looking for something a little more hands-on, then Betterment might be a suitable option for you. Betterment gives you the option to work with a financial advisor who can make investing recommendations.
There are two different plans to choose from, and the most basic plan doesn’t require any upfront balance to get started.
Betterment is a great option for anyone who wants an easy investing option while still maintaining a bit of control over their investment portfolio.
9. M1 Finance
Account minimum
Experienced Investors
M1 Finance might be the best micro investing app for more experienced investors. It is ideal for those looking for customized investment portfolios with some automated options, as well as those looking to set up commission free retirement accounts.
Purchasing fractional shares, setting up recurring deposits and extensive portfolio management options is easy with M1 Finance’s quality app. M1 Finance aims to be a singular personal finance app for building wealth and establishing a diversified portfolio.
Above all, M1 Finance makes investing easy. Simply deposit your funds, set your stock and index selections and use their automated service for commission free trading.
M1 Finance will also automatically rebalance your portfolio in accordance with your stated asset targets, to improve the overall performance of individual stocks.
10. Acorns
Account minimum
$1 per month
Hands-off investors
(e.g., College Students)
If you want a hands-off approach to investing, Acorns will be your best bet. After you sign up, you’ll connect your credit card or debit card to Acorns.
Then, whenever you make a purchase, Acorn rounds it up to the nearest dollar and deposits that “spare change” into your investment account.
For instance, if you make a purchase of $9.67, Acorns will save the additional 33 cents for you. Once your Acorns account reaches $5, the company will invest the money for you.
Acorns also gives you access to a robo-advisor, IRAs, and even a checking account.
What is micro-investing?
According to one survey, more than 47% of Americans are not saving for retirement. When pressed about their decision not to invest, over 34% said they don’t have enough money to invest.
The basic premise behind micro-investing is that you only need a few dollars to start investing. When you use a micro-investing app, you invest in very small increments by buying fractional shares.
With a micro-investing app, you can invest as little as $5. And with micro-investing, you don’t have to know anything about the stock market. The money you save is put in a portfolio of stocks that the company creates for you.
Is micro-investing even worth it?
Micro-investing will not get you rich, and it’s not going to help you fund your retirement goals. For that reason, it’s easy to write micro-investment apps off as not being worth your time.
But every day you put off investing is one less day that your money can grow in the market. So, you can wait until you feel like you have “enough money,” or you can work with what you have today.
Here are just a few benefits of using a micro-investing app:
Invest with very little money: Micro-investing platforms allow you to invest, even if you only have $5 to spare. So if you can skip your morning latte, then you have enough money to give micro-investing a try.
Save it and forget about it: It’s hard to set aside money in a savings account. You know it’s there, and it’s easy to access and spend. With a micro-investing app, it’s easy to save your money and forget about it.
Build positive habits over time: Anytime you’re trying to build a new habit, it’s best to start small. Micro investing allows you to ease into investing, and you can start saving more money when you’re ready.
See also: How to Invest: A Basic Guide to Making Your Money Grow
Pros and Cons of Micro-Investing Apps
While it’s true that micro-investing provides many benefits, they’re not necessarily the right choice for everyone. It’s worthwhile taking the time to understand the all nuances before committing financially.
Pros
24/7 Access
Using a micro investing app allows you full access to your investment account around-the-clock. You won’t ever have to worry about opening hours or holidays getting in the way of your ability to monitor and manage your funds.
Easy Fractional Investment
Traditional investment in stocks and ETFs requires large amounts of funding, but micro investment means you purchase fractional shares quickly and easily. This means you can begin your investment portfolio with your spare change, rather than hundreds or thousands of dollars.
Low Account Minimums
Another factor which makes micro investment apps attractive are the low account minimums. Most micro-investing apps have $0 minimum balance requirements, so you can begin investing with as little as you wish.
Safety
As with traditional investment accounts, legitimate micro-investing platforms will be registered with the U.S. Securities and Exchange Commission. On top of that, all savings and checking accounts with micro investing companies are FDIC insured.
Cons
Fees Can Be High
Account fees can vary, so it’s important to watch out for this. Don’t assume that an account with low minimums will also have low fees. If you’re only investing small amounts, paying high fees might not seem like a good deal in the long term.
Limited Investment Choice
Most micro investment apps won’t allow you to handpick the stocks inside your portfolio. While you will have choice regarding which set portfolios you invest in, you’re less likely to be able to pick and choose specific stocks.
Won’t Change Your Retirement Plans
One thing to keep in mind is that using a micro investment app won’t do much to affect your retirement on its own. It’s more about learning good investment habits, and getting familiar with maintaining and growing a portfolio.
Features of the Best Micro-Investing Apps
So, how do you decide which micro investing app is the right one for you? We’ve compiled a list of the most important features below to help you know what to look for. The best micro investment apps will have the following qualities:
Ease of Use
Fundamentally, the best micro investment apps will be easy and intuitive to use. They are often free of the usual clutter and jargon of some traditional brokerage accounts. With simple, easy to navigate interfaces these apps should provide an enjoyable user experience for all.
Low Minimum Investments
Good investing apps should allow you to access the market with just a few dollars. This is possible because they’re designed to allow you to purchase fractional shares of ETFs and other assets. Not all investing apps will come with a low minimum investment, however, so be sure to check if you’re a low budget investor.
Diversified Investment
The best investing apps will provide users with the chance to invest in diverse portfolios which are automatically generated. Asset allocation and diversification can be challenging even for experienced investors, so this is a great feature of these apps.
When you’re starting out as an investor, the sooner you can learn about diversification the better. And these apps should make it relatively easy for you to both practice and learn about asset diversity.
Educational Tools
As most micro investing apps will be marketed to newcomers, education is an important factor. If you’re just starting out with investing, then the best micro investment app for you will likely provide a wealth of educational resources and advice.
Keep in mind, however, that most micro-investing apps won’t offer access to a professional financial advisor.
Recurring Transfers
The best investing apps allow you to easily set up automatic transfers from your bank account to fund your investment account. A recurring transfer can remove some of the human error involved in managing your account and allow you to quickly build up a habit of funding your account.
Additional Services
While some apps are minimalist and simple, others come with the option of additional financial services. In addition to brokerage accounts, some offer access to a savings or checking account, as well as IRA and custodian accounts. Depending on your own financial goals, an app with additional services might be worth the extra fees.
Final Thoughts
Micro-investing apps make it simple for anyone, even those with just $5 to spare, to begin investing in the stock market. The apps we’ve covered in this article provide a great starting point.
While micro-investing might not cover all your retirement needs, it’s a smart way to begin saving, especially if your budget is tight. The crucial thing is to start investing and gradually increase your contributions over time. This way, you’re setting yourself up for a better financial future.
Frequently Asked Questions
Which micro investing app has the lowest fees?
Among the micro-investing apps listed, Robinhood, Axos Invest, SoFi Invest, Webull, Public, and M1 Finance all offer commission-free trading, which means they do not charge fees for buying or selling stocks and ETFs. So, you can consider any of these apps if you’re looking for a platform with low fees for micro-investing.
Which app is best for small investments?
Choosing the best app depends on your own budget, needs and goals. The market for micro investment apps has grown rapidly, and there are a lot of different options out there.
The list we’ve compiled in this article are our top picks, and are among the best micro investing apps available. These apps make it easy and convenient to begin investing. They also provide various unique features, low fees, good customer support and educational resources.
Who should use micro investing apps?
Micro investing apps are a fantastic way to begin investing small amounts while you learn the ins and outs. But who will benefit the most from using these apps?
Beginner investors: These apps are perfect for young investors and newcomers because you only need a small amount of money to start.
Passive investors: Most of them are actually robo-advisors which invest on your behalf based on your needs and budget. This automated investing allows you to establish a diversified portfolio based on your goals that you can simply set up and forget about, letting it work away in the background.
Emotional investors: Automated investing means you can’t make rash emotional decisions based on market swings. Instead of constantly worrying about market performance, you just invest small amounts and build your portfolio slowly over time.
Can you get rich from micro investing?
Micro investing is primarily a strategy for saving and building wealth gradually over time. While it’s a valuable tool for starting your investment journey with small amounts of money, it’s important to have realistic expectations. It’s unlikely to lead to rapid wealth accumulation or “getting rich” in a short period.
How do I start micro investing?
Investing today is more accessible than ever before. Nevertheless, it still seems an intimidating world for those who have no experience or education. If you don’t know where to start, you can follow these steps to begin investing with confidence:
1. Decide Between DIY or Automated Investing
If you’re not yet comfortable choosing your own investments, and managing your own portfolio, you’ll want to start with robo-advisor investing. It’s totally normal for beginners to feel uncomfortable choosing stock to invest in, and automated investing is the safer option in any case.
2. Identify Your Investment Goals
This is often the hardest step for new investors, but it’s one of the most important. Figuring out your short and long term financial goals will help bring purpose and structure to your investment decisions.
Generally speaking, investing is successful when considered a long term project. You’re much more likely to find success with investments by holding stock long term, rather than trying to figure out when the best time to buy or sell is.
3. Determine Your Monthly Investment
The traditional advice is to save and invest 20% of your monthly income. With the rise of micro investing, however, you don’t even need to invest much to begin with.
It’s important to pick an amount you can reasonably commit to. Of course, you can always change your automatic investment amount, or just add on extra when necessary, but it’s always better to set it and forget it. Even if it’s a small amount, consistency and time and the key ingredients to good investing.
4. Choose an Account That Fits Your Goals
Once you’ve got your budget and goals determined, it’s time to choose a platform to begin investing with.
Keep in mind that you can always switch the platform you use for micro investing, use more than one, or even open a brokerage account. Just make sure to take all fees into account before you sign up and get committed.
Are there any limitations on the types of investments I can make with these apps?
Micro-investing apps typically focus on stocks, ETFs, and sometimes cryptocurrencies. While they offer a wide range of investment options within these categories, they may not provide access to more complex financial instruments like options, futures, or mutual funds.
Looking for a unique way to add elegance and character to your home or office? Modern wall sculptures are becoming increasingly popular for their ability to transform any room into a work of art. With various shapes, sizes, and materials available, we have researched and tested numerous options to bring you the top-ranking products in this category. Our evaluation criteria include design, durability, and customer reviews. There are a few considerations to keep in mind when choosing the right modern wall sculpture, such as size, shape, and materials, as well as color, texture, and overall design. By selecting a sculpture that complements your existing decor and furniture, you can add personality and style to your space. Stay tuned for our expert recommendations on the best modern wall sculptures.
LuxenHome Wall Decorations Metal Art Brown
The LuxenHome 2-Pieces Wall Decorations Metal Wall Art is a stunning addition to any modern home. Measuring 36 inches, this abstract luxury metal art wall decor features a brown frame and intricate metal sculptures that add a touch of elegance to any living room. Its durable construction ensures long-lasting use, and it can be easily mounted on any wall. This metal wall decor is perfect for adding a touch of sophistication to your home, and it’s sure to impress your guests.
Rated 9.9 based on 10
Luxury design, Easy to hang, Sturdy frame
Size may not fit
YUDACHU Metal Wall Art Gold Wall Decor
The YUDACHU Metal Wall Art is a stunning piece of decor that will elevate any living space. Measuring 59″ x 19.6″, this large 3D wall accent is made of high-quality metal and features a modern, creative geometric design in a beautiful gold finish. It’s perfect for adding a touch of elegance and sophistication to your living room, bedroom, or dining room. Easy to install and sure to impress, this wall sculpture is a must-have for anyone looking to elevate the look of their home.
Rated 9.4 based on 10
Modern and stylish design, Large size for impact, Can be used in multiple rooms
May require professional installation
Hananona Wall Sculptures Black Wall Decor.
The Hananona 3 Pcs Wall Sculptures Black Wall Decor is a stunning piece of modern art that will elevate any room in your home. Made with thick real metal, this minimalist wall art showcases the abstract female body in a single line design. The black color adds a touch of sophistication and elegance to any space. Hang these sculptures in a series or separately to create a unique and eye-catching display. The standard size makes it easy to fit in any room. Overall, this is a beautiful and unique piece of art that will impress your guests and add a touch of personality to your home decor.
Rated 9.2 based on 10
Real metal material, Minimalist modern design, Easy to hang
Only one color option
THCISL Metal Art Wall Decor Gold Sculptures
The THCISL Metal-Art-Wall-Decor is a stunning addition to any home decor. With its elegant gold finish and modern design, it is perfect for adding a touch of sophistication to your living room, entryway, foyer, hallway, bedroom, or home office. Measuring 35 X 11 IN, it is the ideal size for creating a focal point on any wall. Made from high-quality metal, this wall sculpture is durable and built to last. Its unique design is sure to impress and will make a statement in any room. Whether you’re looking to add a touch of glamour or simply elevate your home decor, the THCISL Metal-Art-Wall-Decor is the perfect choice.
Rated 8.9 based on 10
Modern wall sculptures, Golden metal finish, Suitable for various rooms
May not match all decor
Creoate Abstract Metal Wall Art Black-set
The Creoate Abstract Metal Wall Art is a stunning addition to any home decor. With its modern minimalist design and sleek black color, it adds a touch of sophistication to living rooms and bedrooms alike. Measuring 11×16 inches per panel, this set of 2 pieces is easy to install and makes a great statement piece. Made of high-quality metal, it is durable and long-lasting. Whether you’re looking for a new focal point for your space or just adding a finishing touch, the Creoate Abstract Metal Wall Art is a must-have.
Rated 8.6 based on 10
Modern and minimalist design, High-quality metal material, Easy installation process
May not match all decor styles
thlabe Metal Wall Art Leaves Sculpture
The thlabe Home Decor Metal Wall Art Leaves is a stunning piece of artwork that will elevate the look of any living space. Handmade and crafted with gold metal, this modern wall sculpture features intricate details in the form of blooming flowers and leaves. Measuring at a large size, it’s perfect for adding a touch of luxury to your living room or bedroom. It also makes for a great gift for any home decor lover. The 3D design adds depth and texture to your walls, making it a statement piece that will surely impress any visitor.
Rated 8.2 based on 10
Handmade for unique touch, Large size for statement piece, Versatile for different rooms
May be difficult to mount
Cindeer Black Metal Woman Wall Art Sculpture
The 6 Pieces Black Metal Wall Decor is a perfect addition to any modern home. Made with high-quality metal, this minimalist abstract woman wall art is a beautiful and aesthetic female wall sculpture line drawing that will add a touch of elegance to any room. Hang it in your kitchen, bedroom, bathroom or living room and enjoy the contemporary and stylish feel it brings to your wall decor. With its lightweight and easy-to-hang design, you can easily install it anywhere you want, making it a must-have for anyone who loves minimalist decor.
Rated 7.9 based on 10
Modern and minimalist design, High-quality black metal material, Easy to hang and install
May not suit all decor styles
Photect Metal Wall Art Decor
The 4 Pieces Metal Wall Art Decor is a perfect addition for those who want to add a touch of modern and minimalist art to their home or office. Made of high-quality black metal, these sculptures feature abstract female figures in elegant single line drawings. Measuring 12″x 12″ each, these wall accents are easy to hang and will complement any room décor. Ideal for the bathroom, living room, bedroom, or office, these sculptures are sure to impress and add a unique touch to your space.
Rated 7.6 based on 10
Modern minimalist design, Easy to hang, Versatile for any room
Limited color options
Gzsyyds Wood Mosaic Wall Art MSM-148A
The Gzsyyds Wood Mosaic Wall Art is a stunning piece of decor that will elevate any room in your home. Made from high-quality wood, this 3D wall sculpture features a modern minimalist design that adds a touch of sophistication to your living room or bedroom. Not only is it visually appealing, but it also doubles as an acoustic diffuser, improving the sound quality in your space. The framed wall sculpture is easy to install and is a perfect way to showcase your unique style. Available in the MS148A design, this wall art is a must-have for those who appreciate the beauty of natural materials.
Rated 7.4 based on 10
Modern and minimalist design, Adds depth and texture to walls, Can improve room acoustics
May not fit all decor styles
Touch of Class Rave Large Metal Wall Art
The Touch of Class Rave Large Metal Wall Art is a stunning addition to any modern or contemporary home. Measuring 46 inches wide, this metallic artwork features abstract shapes and a sleek design that is perfect for adding a touch of style to your living room, bedroom, or bathroom. Made from high-quality materials, this sculpture is durable and long-lasting, and its unique design is sure to make a statement in any space. Whether you’re looking for a focal point for your room or simply want to add some visual interest to your walls, the Touch of Class Rave Large Metal Wall Art is a must-have for any art lover.
Rated 7.1 based on 10
Modern and contemporary design, Large size for a statement piece, Versatile for various rooms
May not match all decor styles
FAQ
Q: What are modern wall sculptures?
A: Modern wall sculptures are artistic pieces that are specifically designed to be hung on walls. They come in different forms, sizes, and materials and can be used to add a touch of elegance, style, and personality to any space.
Q: How do I choose the right modern wall sculpture for my space?
A: When choosing a modern wall sculpture, consider the size of the space you want to decorate, the color scheme, and the overall style of the room. Look for a piece that complements the existing decor but also adds a unique touch. You can also consider the material and texture of the sculpture to bring depth and interest to the space.
Q: Where can I buy modern wall sculptures?
A: You can buy modern wall sculptures from a variety of sources, including art galleries, online retailers, and home decor stores. Look for a reputable seller that offers a wide selection of high-quality pieces at a reasonable price. You can also consider buying directly from the artist for a more personalized touch.
Conclusions
After reviewing several modern wall sculptures, it’s clear that this category of decor offers a wide range of options for any home or office space. From geometric designs to abstract shapes, these wall sculptures can add a touch of luxury and elegance to any room. Our review process focused on quality, design, and customer feedback, and we found that each of the products we reviewed offered unique features and benefits. Whether you’re looking for a large statement piece or a smaller accent, there is a modern wall sculpture for every taste and style. Overall, we highly recommend exploring this category of decor and finding the perfect piece to elevate your space.
Inside: Are you struggling to make ends meet on a low income? This guide will teach you how to budget money effectively on a low income, so you can live a comfortable life without having to skimp on important expenses.
Let’s face it… Navigating through the budgeting on a low income can often feel overwhelming.
The fear of insurmountable bills, the anxiety associated with rising living costs, and the overall foreboding nature of budgeting often make for a persistently stressful experience.
However, it is crucial to understand that you are not alone in this journey. I have been in your spot as well as many Money Bliss readers.
Regardless of how daunting the budgeting task may appear, we truly believe that with the right guidance and adherence to solid financial principles, you are capable of achieving financial peace of mind.
This process will simply require patience, persistence, and strategic planning. This guide aims not only to shine a light on the struggles of budgeting with a low income but also to offer a beacon of hope.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
How to Budget Money on a Low Income
While it’s true that budgeting with a low income can be tough, proper money management can make it doable.
When you have less disposable income, it leaves you with less leeway in your budget. That’s why you have to be accountable and meticulously plan your spending to ensure financial stability.
So, let’s dig in and you can find success.
Step #1 – Figure out Your Monthly Income
Developing an effective budget starts with understanding your monthly income.
Here’s a step-by-step guide:
List out all income sources: This includes all your regular paychecks, part-time jobs, side hustles, social security, child support, or any other form of income you have. If your income is irregular, say from commissions or seasonal work, it’s advisable to base your budget on your lowest monthly income.
Account for taxes and deductions: To get an accurate picture of your disposable income, you need to factor in taxes and deductions from your earnings. You need to make sure you understand the difference between gross pay and net pay.
Include irregular income: If you occasionally get money from gifts, or sporadically earn from passive income sources like investments, be sure to include these too. As these are inconsistent, it is best to fund discretionary spending with this money.
Personally, I recommend using your net income with budgeting. This will give you an accurate budget that you can truly follow.
This knowledge is powerful when it comes to effective budgeting.
Step #2 – Define your bills and Expenses
Knowing how much you spend and what you spend your money on is another crucial step in budget planning.
The key is to define ALL your bills and expenses. Here are the personal budget categories that cover almost everything you can think of.
Now, you must do the following:
Identify your fixed costs: These are basics that you have to pay monthly and remain fairly constant, such as rent, car payments, and student loans.
Consider flexible costs: These expenses vary from month to month. Examples include groceries, transportation, electricity, water, and gas bills.
Remember periodic costs: Some costs only appear annually or semi-annually. For instance, insurance premiums, car registrations, and property taxes. It’s important to set aside money each month to cover these expenses when they arise. A sinking fund is great for these expenses.
Account for daily spending: Beyond fixed and flexible bills, consider your day-to-day expenses like shopping, subscriptions, and entertainment. Be honest about the little expenses. It’s often the small, frequent purchases that can derail a budget.
Prepare for unplanned costs: Finally, remember to budget for unexpected expenditures such as car repairs or medical bills.
By defining and categorizing your bills and expenses, you can see where your money is going and better manage your spending.
Step #3 – Reach a Zero Budget
A zero-based budget is a strategy that requires you to assign every dollar you earn to a specific expense or savings category, with the goal of having your income minus your expenses equal zero by the end of the month.
Write down your income: From the step before, you already know your total monthly income.
Subtract your expenses: Subtract the total of your monthly expenses (including savings) from your total monthly income. If you’ve correctly accounted for your income and expenses, the result should be zero. This is what it means to have a “zero-based budget”.
Balance the budget: If your income and expenditure don’t balance, adjust your variable expenses and other discretionary spending until they do. This can involve cutting back on nonessential overspending, like takeout meals or unnecessary purchases.
Allocate every dollar: With your budget balanced, each dollar should now have a purpose, whether it’s paying bills, going into savings, or providing for your daily needs.
Many people struggle to hit a zero based budget on the first try. It is common for your expenses to be higher than your income. Thus, a no spend challenge may help you identify what is important to actually spend your money.
Reaching a zero-based budget equips you with a clear picture of your financial status.
Thus, it allows you to use your money purposefully and prevents unnecessary spending. This way, even with a low income, you can still meet all your needs and work towards your financial goals.
What do you do if your budget shows your expenses are more than your income?
When your monthly spending exceeds your monthly income, immediate attention is needed to prevent worsening financial issues. Before panic sets in, consider taking the following steps:
Analyze your budget: Reevaluate and scrutinize your budget. There might be necessary adjustments overlooked or expenses incorrectly categorized. This will give you a clearer understanding of where your money is going.
Prioritize essential expenses: Allocate money to necessities like housing, food, utilities, and debt repayments first. Other less necessary expenditures, like entertainment and dining out, can be reduced or eliminated.
Reduce expenses: After prioritizing, identify areas where cuts can be made. Impulse buys, unnecessary subscriptions, or expensive habits might need to go.
Increase your income: Consider part-time jobs, side hustles, selling unused items, or picking up freelance work to bring in more money.
Seek advice if debt is weighing you down: As a last resort, you may look at ways to lower your interest rate on your debt. These strategies like debt consolidation or restructuring could help make your situation more manageable.
Remember, this situation, while stressful, is not permanent. With careful planning and disciplined execution, you can turn this around and regain financial stability.
Taking Control of Your Budget When Income Doesn’t Cover Your Expenses
Now, this is where you need to learn to manage your money wisely. You are in control of where you spend your money.
Many truly believe with a higher income all of their financial problems go away. From my research, most people end up with bigger money problems, the same spending habits, and still living paycheck to paycheck even with a higher income.
So, let’s reign in what you can do today to make your budget feasible.
1. Prioritize Essential Bills and Expenses. The key is to identify which expenses are truly essential to your livelihood. All remaining expenses, like entertainment or eating out, should be considered secondary and only met after the primary expenses have been satisfied.
2. Participate in a No Spend Challenge. A No Spend Challenge not only helps you save money rapidly but also makes you cognizant of your spending habits, helps identify non-essential expenses, and guides you towards a minimalist, sustainable lifestyle. Start with a no spend month.
3. Reduce your Housing Expenses. Housing costs can be one of the most significant expenses. Look at ways to downsize, negotiate rent, refinance your mortgage, or get roommates. Or even housesit permanently.
4. Be Cognizant of Bad Spending Habits. Some examples include impulse purchases, expensive convenience, not comparison shopping, or paying too much. By becoming aware of your spending habits and making conscious choices, you can break the cycle of unnecessary spending and start saving money with the penny challenge.
5. Skip the Expensive Coffee Shop. Choosing to forgo your daily coffee shop run can result in surprisingly significant savings. Implementing just this one change could save you over $600 a year!
6. Use Public Transportation to Save Money. The costs of owning a car – gas, maintenance, parking, and insurance – can quickly add up. So, look for public transportation as an alternative or even cycling, carpooling, or walking.
7. Take Advantage of Free or Cheap Entertainment. When living with a low income, entertainment expenses can quickly eat into your budget. Good news for you! There are plenty of things to do that don’t cost money.
8. Cut Back on Grocery Spending. By implementing simple strategies such as meal planning, cooking at home, cutting down on processed food and reducing waste, you can maintain a healthy diet while significantly reducing your grocery bills. Don’t forget to use those discounts and coupons!
9. Stick to Your Shopping List. Preplan your purchases before stepping into a store. This is a powerful tool in curbing those impulse purchases which can inflate your expenses substantially.
10. Start Meal Planning. Meal planning is a practical and economical way to manage your food budget. By planning your meals for the week, you can control your grocery spending and eliminate waste.
11. Stockpile Goods That Will Stay Stocked Up Long Term. Remember, the goal of stockpiling is to save money, not to transform your home into a supermarket. Purchase enough to last a few months and focus on items that you’re certain to utilize. Here are the best foods to buy when broke.
12. Pack Your Own Lunch and Skip Eating Out. With an average meal out costing around $10, you could easily save $200 a month by packing lunch from home. Over a year, that’s $2,400 in savings!
13. Drink Water and Avoid Processed Foods. Shifting dietary habits can be a significant change, but your commitment to a healthier lifestyle can reap both health and financial dividends. It’s an investment in a life of wellness and economic sustainability.
14. Take Advantage of Discounts when Shopping. Remember, the goal of shopping with discounts is to spend less on what you need, not to buy more than you need. So, make sure to use coupons wisely, shop sales, buy off season, and use Cashback apps like Rakuten and BeFrugal.
15. Avoid Impulse Purchases. By avoiding impulse purchases, you give your budget room to breathe and create an opportunity for savings. This makes a significant difference over time, especially when money is tight.
16. Apply for Discounts on Utilities and Services. Many utility companies provide low-income home energy assistance programs. The same is true for internet service. Contact your service providers to check your eligibility.
17. Get Free or Discounted Goods Through Charities. Charities, faith, professional, and local organizations often offer grants for people experiencing financial hardship. Utilizing them can be a lifetime as they help you stretch your budget further and provide necessary support in times of financial struggle. Don’t be afraid or too proud to ask for help when you need it.
18. Get Outside. Reconnecting with nature can provide you with cost-free entertainment and a sense of tranquility that’s hard to find elsewhere.
19. Avoid Unnecessary Expenditure. While each person’s definition of “unnecessary” may differ, the key to budget management is curbing expenditures that don’t add substantial value to your life. A common culprit could be brand-name goods or late fees.
20. Start the Practice of Saving with a Mini Savings Challenge. The Mini-Savings Challenge can pave the way to a habit of saving regularly, even on a tight budget. Essentially, this challenge consists of setting aside a small amount of money each day or week, gradually increasing the amount over time.
21. Show Gratitude. While it may seem less directly related to finance, practicing gratitude is indeed integral to efficient budgeting and financial wellness. Remember, financial success isn’t just about making more money. It’s also about appreciating what you have and recognizing the steps you’re taking towards your goals.
Inciting Additional Income Avenues
Okay, this section is how you take a low income and increase your money. While cutting back spending is helpful, creating more money will help you to reach money success faster. This will take the strain off.
1. Look for Ways to Earn Extra Income
Boosting your income, no matter how minimal the increase, can help cover necessary costs and elevate your financial standing.
Here are some ideas using your current job:
Work Overtime: If possible, consider getting more extra hours at your current job. Earnings from overtime or extra shifts can be significant.
Negotiate a Raise: If you’ve been with a company for a while and demonstrated your worth, it might be time to discuss a raise. Prepare well for this conversation with evidence of your productivity and value.
Every extra dollar earned can be put towards savings, paying down debt, and creating better financial stability.
2. Leverage Side Hustles for Extra Money
Side hustles have become an increasingly popular way to earn extra money online in your spare time. They allow for flexibility and can be a great supplement to your current income.
Start a Side Hustle: These can be a great way to make use of spare time to earn extra cash. This could be anything from driving for a rideshare company, offering freelance services, tutoring, delivering food or groceries to selling homemade goods online.
Sell Unused Items: You probably have items in your home that you no longer need. Selling anything from clothes to electronics or furniture can be a good source of income.
Passive Income: From writing an eBook to renting out a room in your house or investing in stocks, creating passive income streams can provide extra money over time.
Remember to choose a side gig that fits your schedule, interests, and skill set. Not only could it bring in extra money, but it could also turn into a passion project, making the work feel less like a chore.
3. House Sit for Extra Income
House sitting can be a viable option for those looking to generate extra income, especially if you’re flexible with your time and location. It typically involves looking after someone’s home (and sometimes their pets) while they’re away.
Not only is house-sitting a way to earn money, but it can also offer a free place to stay. Hello – you just lowered the biggest expense in your budget. However, remember that taking care of someone else’s home is a huge responsibility, so only take on tasks you’re confident you can handle.
Get started by building your profile on Trusted Housesitters.
4. Items You Don’t Need Anymore
Selling items you no longer need or use can both declutter your home and add to your income. It doesn’t just have to be big-ticket items; even small routine household items can yield returns.
While this may be difficult to do, look for items in good condition that you and your family no longer need or use. If you have extra baby stuff, you can rent it on BabyQuip for extra money.
Remember, while selling items won’t provide a consistent income, it can be a great one-time source of extra cash especially if you have these highly popular flipping items in your house.
Baby Equipment Rentals with BabyQuip
Have you heard about BabyQuip? They are the #1 baby equipment rental service offering clean, safe, and insured baby gear.
Whether you are traveling or just don’t want to purchase, this is a great idea to check out.
Learn More
5. Pick up a Part-time Job
When you’re on a limited income, picking up a part-time job can be a reliable way to supplement your earnings. You are trading your time for money.
Many of these jobs that pay weekly offer valuable experiences, skills, and possibly even room for growth and advancement. Remember to save and plan for any taxes due as a result of your increased earnings.
Smart Use of Technology in Budgeting
Taking advantage of personal budgeting tools can make managing your finances easier. They can help track expenses, create a budget, and set saving goals. Here are some popular options:
You Need a Budget (YNAB): YNAB helps you create a budget and live within your means, educating you on effective money management along the way.
Simplifi by Quicken: This app crunches the numbers to show how much money you have for day-to-day spending after accounting for bills, goals, and savings.
Empower: This free tool offers a comprehensive financial dashboard that includes budgeting features and investment tracking.
Tiller Money: If you want a more manual approach, you can use Google Sheets or Excel to create a customizable budget spreadsheet.
Remember, the best tool is the one you use consistently. Try a few options to see which one best meets your needs and preferences. Every tool has its pros and cons, but all aim to help you control your finances effectively.
Empower Personal Wealth, LLC (“EPW”) compensates Money Bliss for new leads. Money Bliss is not an investment client of Personal Capital Advisors Corporation or Empower Advisory Group, LLC.
Our Top Pick
YNAB
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Offers expert advice, making it suitable for those who require an in-depth, forward-thinking budgeting strategy.
Superior synchronization skills make it the winner in this area.
YNAB has extra features like goal setting for budgeting, shared budgeting tools for partners.
Option to manually add and upload transactions from accounts each month.
YNAB prioritizes user privacy.
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YNAB vs Mint
Access Paychecks Early with Digital Banking Apps
With the rise of digital banking, access to innovative financial tools like early direct deposit has become more accessible, even for those with low incomes. These services can be crucial lifelines between paychecks or in case of emergencies.
Here are a few platforms that offer such services:
Chime: Once you set up direct deposit with Chime, you may get your paycheck up to two days earlier than at a traditional bank.
Current: Current, a mobile bank account, provides users with paychecks up to two days in advance.
Varo: Varo also offers early direct deposit for its users, helping you gain access to your money more quickly.
Clair: Clair’s on-demand pay solution lets you advance a portion of your paycheck before payday. This can be particularly helpful when navigating financial crunches.
It’s important to note that while accessing your paycheck early doesn’t give you extra money, it does provide more flexibility in managing your finances and can help avoid overdraft fees or high-interest loan options in times of need. As with any financial tool, it’s essential to use early paycheck access wisely and not rely on it for regular spending.
Current | Future of Banking
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FAQs
Saving money on a low income can seem challenging, but a few strategic changes and smart habits can make it achievable.
Engaging in a money-saving challenge can be a motivating way to encourage disciplined saving, helping you to creatively manage your finances and significantly boost your savings plan over time.
Remember, the key to saving on a low income is to stay consistent, patient, and adaptable in your approach.
Surviving on a low income budget can be challenging, but strategic planning and careful spending can help you manage your finances effectively.
The focus as Dave Ramsey likes to say is on your four walls – food, utilities, shelter, and transportation.
Remember that it’s okay to adjust your budget as you go. Circumstances change, and so should your budget. Review your budget regularly to ensure it’s still working for you and adjust as needed.
Budgeting when you’re broke might seem like an uphill battle.
The key is to make sure you stick to your budget and track your spending consistently. Don’t hesitate to reach out to local charities, government programs, and non-profit organizations for assistance.
Remember, being broke is often a temporary situation, and even small steps towards better budgeting can compound into big changes over time. Try to stay positive and focused on your financial goals.
Now, How do you Survive on a Low Budget?
Surviving on a low income involves careful planning, budgeting, and making the most of available resources. While it may seem challenging, it is indeed possible.
Every small step you take towards frugal living, such as sticking to a budget, reducing unnecessary expenses, or earning extra cash, can lead to considerable savings in the long run.
Remember, it’s also important to invest in yourself – whether that’s asking for a raise at work, learning a new skill, or starting a side hustle.
The journey of living on a low income can be tough, but it also offers an opportunity for creativity and gratitude for the essential things in life. With a positive mindset, some patience, and careful budgeting, you can not only survive but thrive, even on a low income.
The goal isn’t to just get by but to build a financially stable future.
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
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In the digital age, the concept of home is being reimagined by the advent of smart technology, transforming everyday living spaces into hubs of convenience, comfort and entertainment. Never has this been so clear as when you take even a cursory tour of the HGTV Smart Home 2023. If you need further evidence of just how expansive this industry is becoming, a study by Grand View Research, Inc. determined that the home automation industry will reach a staggering $444.98 billion by 2030.
Smart home technology, once fodder for dystopian storylines on TV, has evolved into a widely accepted seamless integration of devices and systems that streamline tasks, enhance security and personalize our environment. From the moment you wake to the soft glow of a sunrise simulation to the reassuring click of a smart lock securing your home at night, these intelligent systems work collaboratively to simplify routines, conserve resources and provide peace of mind. Smart home devices not only respond to our immediate commands but also anticipate our needs, learn our preferences and adapt to our lifestyles, offering a bespoke living experience that was once the stuff of science fiction.
Image Source: HGTV
Noteworthy tech in the HGTV Smart Home 2023
Each year, HGTV builds a new, technologically advanced home in a different location within the United States. The contest is typically run as a sweepstakes, where viewers can enter for a chance to win the annual smart home. Entries are usually accepted online through the HGTV website or via mail. The main prize is, of course, the HGTV Smart Home itself, which includes the home, all of its furnishings and the latest home technology. In addition to the home, there are often other prizes, like cash awards or vehicles.
Coolest devices in the 2023 HGTV Smart Home
Laid out below are just a few of the most highly sought-after pieces of smart home tech in this year’s HGTV Smart Home 2023 and their less expensive counterparts.
GE Profile Kitchen hub
The GE Profile Kitchen Hub is a unique and high-tech kitchen appliance from General Electric. It’s designed to serve multiple functions and is geared towards making the kitchen experience more interactive and connected.
Interactive screen: The GE Profile Kitchen Hub features a large touchscreen display that can be used to access recipes, watch videos, control smart home devices and more.
Vent hood: The screen is built into a vent hood, allowing it to sit above your range or cooktop. This design not only provides essential ventilation but also offers a central view for following recipes or watching videos as you cook.
Cameras: The device includes front-facing and downward-facing cameras. The front-facing camera can be used for video calls, while the downward-facing camera is intended to capture your cooking, which can be useful for sharing your culinary adventures on social media or with family.
Integrated apps: The Kitchen Hub comes with a suite of applications designed for the kitchen. These can include recipe apps, music and video streaming services and other smart home integrations.
Connectivity: Being a smart device, the Kitchen Hub connects to your home’s Wi-Fi network. This allows it to pull up recipes, stream content and interact with other smart devices in your home.
U+ Connect: This is GE Appliances’ smart platform that allows various devices to connect and communicate. For example, if you have a GE oven, the Kitchen Hub can interact with it, setting temperatures, timers and more.
Not looking to shell out nearly $1,200 for this type of tech? Consider an Alexa. While not as advanced as the Kitchen Hub, it is still a solid virtual assistant option for the kitchen.
DAKboard Wall Display v2 Plus
DAKboard is a digital wall calendar that integrates with various online calendar services to display your events, tasks, weather and other custom information. The DAKboard Wall Display v2 Plus is one of their products, designed to be a versatile, visually appealing display for personal and professional environments.
Screen: The Wall Display v2 Plus includes a high-resolution screen designed to make texts and images clear and easy to read from a distance.
Customization: DAKboard is known for its highly customizable displays. Users can choose different layouts, fonts and color themes to match their preferences or interior design.
Connectivity: The device connects to Wi-Fi to sync with various online services like Google Calendar, Apple Calendar, Microsoft Outlook and others.
Photo display: Besides showing calendar and weather information, DAKboard devices can cycle through personal photos or artwork, making them a dynamic alternative to traditional picture frames.
Integration: DAKboard devices support integration with various third-party services for weather, to-do lists, news and more.
While the Dakboard Wall Display v2 Plus will run you close to $500, the Skylight Calendar is a solid replacement for around to $200 less.
Image Source: Samsung
Samsung AirDresser Grand
The Samsung AirDresser is an in-home garment refreshing system, which uses air and steam to clean and deodorize clothing. It is part of a new category of home appliances intended to reduce the frequency of traditional washing and dry cleaning.
Jet air and air hangers: The system blasts air to loosen and remove dust from inside and outside your clothes.
Steam cleaning: It uses steam to sanitize clothing, removing bacteria, viruses and allergens.
Deodorization filter: The filter captures and reduces odors, leaving clothes smelling fresh.
Gentle drying: Clothes are dried at a low temperature to reduce the risk of shrinkage and heat damage.
Smart control: Integration with Samsung’s SmartThings ecosystem to monitor and control the device remotely through a smartphone app.
Self-cleaning: An internal system helps to maintain the device by removing scale and residue.
Wrinkle care: The AirDresser can smooth out wrinkles without the need for ironing.
Capacity and design: The AirDresser Grand offers a larger capacity to accommodate more items of clothing and potentially an updated design or premium finish.
Not nearly as fancy as the $1,100 AirDresser Grand, a handheld steamer, like the Conair Turbo EstremeSteam is a great option for quick sanitization and keeping clothes wrinkle-free with ease.
SimpliSafe Wireless Home Security System
SimpliSafe is a company that offers a variety of home security products and services, with an emphasis on ease of installation and use. Their systems are known for being wireless and user-friendly. These systems are typically marketed toward homeowners and renters looking for a quick, easy and effective DIY security solution.
DIY installation: SimpliSafe systems are designed for easy setup without the need for professional installation. The devices can be placed on shelves or adhered to walls without drilling.
Variety of packages: SimpliSafe provides different equipment packages to suit various home sizes and security needs. You can start with a basic set and expand with additional sensors and accessories as needed.
Components: A typical SimpliSafe kit includes a base station, which is the central hub of the system, wireless door and window sensors, motion detectors and a keypad. Additional components might include glass break sensors, smoke detectors, carbon monoxide detectors and panic buttons.
No contract monitoring: SimpliSafe offers optional professional monitoring services on a month-to-month basis, without the need for long-term contracts. This professional monitoring can dispatch emergency services in case of a break-in, fire or other incidents.
Smartphone control: SimpliSafe has an app that allows you to arm and disarm your system, receive alerts and monitor your home from anywhere.
Integration: SimpliSafe systems can integrate with smart home devices and platforms, like Amazon Alexa and Google Assistant, allowing for voice control and other smart home automation.
SimpliCam: They offer an indoor camera called SimpliCam, which can be used to keep an eye on your home while you’re away. It comes with features like motion alerts and the ability to stream live video.
Design: SimpliSafe sensors and devices have a discreet and modern design to blend in with home decor.
Battery and cellular backup: The system is equipped with battery backup to keep your home secure during a power outage, and the professional monitoring service includes cellular backup to maintain communication with the monitoring center if the Wi-Fi goes down.
Environmental protection: SimpliSafe also offers sensors that detect water leaks and freezing temperatures to help prevent environmental damage in your home.
Privacy protection: Features like camera shutters allow customers to control their privacy.
While the Simplisafe wireless home security system is great, it does come at a price, of about $320. If you’re looking to spend a little less, don’t fret, Amazon is full of more affordable DIY wireless security systems.
Moxie Showerhead and Wireless Speaker
The Moxie Showerhead and Wireless Speaker is a product by Kohler, known for combining the functionality of a showerhead with the entertainment feature of a wireless speaker.
Showerhead: It’s designed to provide a full-coverage spray, offering a quality shower experience with good water pressure.
Removable wireless speaker: The center of the showerhead houses a wireless speaker that can be easily detached and used independently. The speaker connects to devices via Bluetooth to play music, podcasts or other audio streams.
Water-resistant: The speaker is designed to be water-resistant, which is essential for any electronic device used in a shower.
Rechargeable battery: The speaker has a built-in rechargeable battery. When fully charged, it supports several hours of playtime.
Magnetic docking: The speaker is held in place with magnets, which makes it simple to detach and reattach to the showerhead.
Harman Kardon sound: Some versions of the Moxie speaker are engineered with sound by Harman Kardon, delivering a high-quality audio experience.
Voice assistant compatibility: Depending on the model, the speaker can sometimes be compatible with voice assistants, which would allow you to control music and other functions with voice commands.
Multiple colors and finishes: The Moxie showerhead may come in a variety of colors and finishes to match different bathroom decors.
Installation: It’s designed to be easy to install, fitting onto a standard shower arm.
For those who enjoy listening to music or podcasts in the shower, the Moxie Showerhead and Wireless Speaker system brings convenience and a bit of luxury to the everyday routine. If you’re looking for the same luxury at a more affordable price, you’re in luck. There are plenty of showerhead speaker combos at all price points on Amazon.
Image Source: Kohler
Anthem Digital Shower Control
The Anthem Digital Shower Control is another Kohler product that provides a high level of personalization and precision for the showering experience. It is designed to provide a user-friendly interface to control various aspects of the shower.
Digital interface: The Anthem Control includes a minimalist display with easy-to-read buttons.
Customizable settings: Users can save their preferred shower settings, making it easy to start the shower with their personalized preferences at the touch of a button.
Multiple outlet controls: The system can control multiple water outlets, allowing users to switch between them or use them simultaneously for a luxurious shower experience.
Smart home integration: Advanced models feature integration with smart home systems, enabling control via voice commands or through smartphone apps.
Easy installation: Even though it is a sophisticated system, companies like Kohler design these controls to be as easy to install as possible, sometimes compatible with existing plumbing.
Safety features: Many digital showers include safety features like automatic shut-off after a certain period or if the water gets too hot, which can prevent scalding.
Energy saving: Some models offer features that help conserve water and energy, aligning with eco-friendly practices.
If you’re after the type of precision temperature control that only a digital display like the Anthem Digital Shower Control can provide, consider the much more streamlined and affordable BLTFAUCER Digital Display. While it doesn’t provide as much customization as the Anthem model, it will allow you to achieve and monitor the exact shower temperature you want.
Elements Hexagon Starter Kit
The Elements Hexagon Starter Kit is a product by Nanoleaf, which is a company known for producing smart lighting solutions that are popular for their modular, geometric design and customizable lighting scenes. The Elements Hexagon Starter Kit is part of Nanoleaf’s Elements line, which focuses on combining smart lighting technology with decor.
Hexagonal panels: These are the core of the product, designed to be attached to form patterns on your wall. They’re hexagon-shaped to allow for a variety of configurations.
Wood look: Unlike the original Nanoleaf light panels, which have a very futuristic look, the Elements line has a more natural wood-like appearance, allowing them to blend into home decor more seamlessly when turned off.
Customizable lighting: Users can customize the illumination of each panel to create scenes or set the ambiance. This can include warm to cool white light settings, designed to mimic natural elements like a fireplace or thunderstorm.
Interactive control: The lights can be controlled via an app, where users can select or design scenes, schedule on/off times and adjust the brightness. They can also respond to touch or sound.
Smart home integration: The kit is compatible with most smart home systems, allowing for voice control.
Rhythm feature: With the rhythm feature, the panels can synchronize with music in real time, creating dynamic light shows in response to the audio they detect.
Simple installation: The panels attach to the wall with adhesive strips, which are included in the starter kit, making for a relatively easy setup without needing to drill holes.
Expandability: The starter kit includes a certain number of panels but can be expanded by purchasing additional expansion packs at any time.
The Elements Hexagon Starter Kit is a great system for incorporating upscale and entirely unique lighting into a space. That said, there are also a ton of customizable hexagon lighting solutions on Amazon for a range of prices.
Smart home. Seamless tech. Smiling faces.
The rise of smart home technology stands as a testament to human ingenuity and the quest for an enhanced quality of life. As we look to the future, the integration of these intelligent systems into our homes continues to evolve, bringing new levels of ease and enjoyment. These devices do more than just perform tasks — they create experiences, foster safe environments, and cultivate moments of joy and relaxation.
In a world where time is precious and personal happiness is paramount, the smart home is less about the gadgets and more about the freedom they afford us — the freedom to spend less time managing our homes and more time savoring the pleasures of life. As we embrace this era of connected living, we find that the true genius of smart home technology lies in its ability to fade into the background, creating a symphony of convenience.
Looking for your own place to add tech to? Whether you want to replicate the HGTV Smart Home 2023 or just add some DIY home automation, the future revolves around tech-forward homes. Check out our available apartments and houses for rent.