The Ultimate Collection of Money and Investing Tips (2021)

Our job at Friday Digest is to find the latest and greatest money, investing, and financial independence tips to share with our readers. Every Friday we feature a new tip in our weekly digest (subscribe here). Here is a list of our favorite financial bits and advice from 2021.

collection of the best financial independence advice for 2021

Our job at Friday Digest is to find the latest and greatest tips on money, investing, and financial independence to share with our readers. Every Friday we feature a new tip in our weekly digest (subscribe here). Here is a collection of our favorite financial tips and money advice from 2021 - updated regularly.


PLAN AND SAVE

The first step towards financial independence is to take a look at your money and create a plan. Here are a few tips we've pulled from past issues about managing and saving your money.

Live on less than you make. This is the #1 rule! If you earn $1000 a week, don't spend $1001!

Find ways to save money: Seek out deals, discounts, coupons before you purchase.

Pay off your debt - especially high interest debt like credit cards.

Reduce your taxes. Don't pay uncle sam more than required. Use things like tax deferred account to stash your money: 401(k), IRA, HSA, etc.

Take control of your finances: Create a plan and most importantly, a BUDGET.

Personal Finance Hack: Get a tool like Personal Capitol to keep track of your money. Personal Finance is a FREE tool to see all of your accounts in one place and make better decisions about managing it. You can also save money by using the FREE Analyzer tool to find hidden fees in your accounts. Click here to sign up for a FREE account.

6 Best Pieces of Money Advice for 40-Somethings (Issue 36)

A lot of people have already put these 6 money secrets to good use. They’ve found hundreds of dollars in savings, secured their family’s financials and padded their bank accounts. Putting all these secrets to use is easier than you might think.

  1. Give your family 1 Million (insurance)
  2. Invest in Real Estate
  3. Cancel your Car Insurance (ride share)
  4. Make money from your CC (rewards)
  5. Beef up your credit score
  6. Don't overpay home insurance
  7. Create Passive income

INCOME

The only thing better than saving your money, is making MORE of it. The amount of money you can save is limited, but there is no ceiling to how much you can earn. Whether it is through your current job or adding additional sources of income, many finance experts and authors say that increasing your income is the best way to generate wealth.

Check out 10 Passive Income Ideas for 2021 to learn how to add an additional source of income.


WEALTH & INVESTING

Building wealth does not always require wealthy parents or a set of lucky numbers. In fact a majority of wealthy Americans are first-generation - meaning they did it on their own (read the Millionaire Next Door).

There are a lot of ways to invest your money depending upon your goals. Find a resource you trust to supply information based on your goals and timeline.

Check out Generating Wealth Comes Down to These 3 Simple Things to find our what experts say you need to be wealthy.

Ready to start choosing your own investment options? There are thousands of publicly traded stocks to choose from.

Check out The Motley Fool for a weekly dose of the best stocks to buy. We use and love this service.

Looking for a Brokerage service or App to start investing? Check out SmartMoney where you can compare all the top investing and trading apps. Compare fee's, investing minimums, and more.

9 Personal-Finance Secrets of Successful, Wealthy People (from Issue 39)

You worked hard, built something, sold something, or came across a windfall. If you're fortunate enough one day find yourself facing the ultimate privileged problem: What do you do with all this money? Here are 9 personal finance secrets from the wealthy.

  1. Live below your means
  2. Spend no more than 7 percent of your windfall every year, after taxes
  3. Create a reasonable budget to help the people close to you
  4. Pay off high-interest debt, and avoid new loans other than a fixed-rate mortgage
  5. Be a prudent steward, not a creative investor, of your new wealth
  6. Invest in low-fee index funds and annuities based on them
  7. Get a good accountant, lawyer, and fee-only financial adviser who commits to a fiduciary standard in all dealings
  8. Don't make any financial decisions on your own
  9. Give generously

RETIREMENT

Whatever you do with money in life, do not leave your retirement to chance. Retirement should be golden years of time with loved ones and enjoying life after years of hard work. Travel, dine, and relax. However, funding your retirement years requires many years of planning, saving and investing. This starts when you are young and the more years you have invested - the more fruitful your retirement will be.

Check out Personal Finances Retirement Calculator to see if you’re on track, and what you can do to improve your chances of retirement success.


Want to get started investing?

Here are a few tools and resources to get started investing. These are all services that we personally used and tested to be of value. Some may be partners and compensate us if you sign up, there is no extra cost to you - this helps support our publication.

Acorns is a great way to get started saving and investing your money. Here's how it works: you sign up for a checking account, use it to pay for items, and it will round up your purchases and deposit the difference into your choice of investments. This is a great way to get started saving and investing if you dont have a large deposit to start. Get $5 free when you sign up for Acorns.

M1 the Finance Super App is our favorite way to invest in stocks and ETFs (exchange traded funds). M1 Finance offer easy investing, checking, borrow (loans), and credit card tools all from one app. This is the new wave of finance tools right at your finger tips. And the best part: it's FREE. No fees. If you are looking to get started investing in stocks, mutual funds, or ETFs, check out M1 Finance Super App.

SmartMoney is a website that compares all of the top Investing Services and Apps. You can compare the rates, fee's and features in all the top trading platforms such as RobinHood, Vanguard, Coinbase, and TD Ameritrade.

How do you know what stocks to choose? The Motley Fool has you covered. Yes, it's a strange name for an investing club, but they have been around for years and who we personally trust for investment ideas. The Motley Fool emails subscribers every Thursday with new investment ideas and information. It's a gold mine. Join the Motley Fool now and get 60% off the annual fee.