How to Have an Extra $365 at the End of the Year

How would you like a check at the end of the year for $365? What about a check for $500? $1000? The amount is up to you.

The post after this one will give the breakdown for a project I’m working on during the month of January called 30 Days of Intentional Kindness. The first day’s call to action is to share a piece of wisdom that can positively impact someone else.

The piece of wisdom I would like to pass on today is the importance of saving money and creating margin in your life. If you were to save $1 a day, at the end of the year you would have an extra $365. $10 a week gives you over $500 at the end of the year, and $80 a month gives you over $1000.

There is an app called Qapital that has totally changed the way I save money over the course of the past few months. I have previously written about it, so bare with me as this post will be very similar to one from October. This year I want to cultivate better saving habits and Qapital is helping me do it. This app is super easy to use and makes saving money a no brainer.

Here’s what you need to know about this method of saving money:

1. Install the app. It is currently only available to users in the United States, but it looks like they are working to expand in the near future.
2. Link the app to your bank account (it’s secured).
3. Set a goal, and decide which rule you would like to apply to your savings plan. This part is my favorite. There are so many rules you can choose from; pick one that best suits your goals and current financial status. For example, you can select a rule that makes it so every time you use your debit card, Qapital automatically rounds up to the nearest dollar and saves that amount for you. So, if you spend $8.25 at the store, Qapital will round your purchase up to $9.00 and put the 75 cents into a secured savings for you. There are other rules that you can chose from such as automatically save a dollar (or more) a week, automatically set aside 30% of your earnings for taxes in the event that you are a freelancer, or even set up a reward system for when you hit your fitness goals.
4. You can withdraw your money at any time, even if you have not hit your goal amount yet. It does take up to 3 business days to see the money in your bank account.
5. It is free. There are no hidden costs. The company makes its money through a visa card they offer as an additional service. Qapital also has a version of overdraft protection, meaning that if there is less than $100 in your account, they will put a hold on any pending deposits until you have more than the minimum required amount of $100 in your bank account.

It’s that easy.
Realistically, what are the chances that you will miss an extra few cents when you’re already making a purchase? On the other side of it, those few cents can really add up when you save them. Imagine if you saved $3 a week using the round up rule. $3 a week x 52 weeks in a year is still an extra $156 in a year…$156 that you would have spent without even realizing it. The best part is, you are in control of how much you save. If you can afford to round up to $2 for every time you use your debit card, do that. If you can afford to put away $10 a week, do that. Even if you saved $1 a week for a year, you would still be saving money AND cultivating a habit that will benefit you for the rest of your life.
As I mentioned in my previous post about Qapital, this is not an ad. I would never endorse something I don’t actually use. As an added bonus, Qapital gives all of their users access to an invite code. This code will give you $5 to get you started toward your savings goals.
I hope this piece of information will be as beneficial to you as it was to me when I received it, and will kick off your 2018 savings in the most positive way.

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