Money Saving Tips for 2019
A new year means new resolutions. One of the best resolutions a person can make is to save more money for their future. If you have the goal of paying off student loans, buying a new vehicle or purchasing your first home, setting a budget and following a savings regimen will help you far more than hurt you. There may be times where you feel that you are stretched thin, but sticking with the following tips will help you commit to saving throughout the year.
Follow the 30 Day Rule
Are you an impulsive buyer? Sometimes we spend money for absolutely no reason. The 30 Day rule is a great tool to follow when determining the value of what it is you want to purchase. If you go shopping, avoid the temptation by saying “later” rather than “no.” Put the item back where it belongs and give it a lot of thought before purchasing it. The 30 Day rule helps you to fight the impulsive urge to buy things you don’t necessarily need. It also helps you to realize the worth of an item after deciding it is, in fact, something you want after 30 days.
Look Over Your Accounts
Create a list of all of your payable accounts. Be sure to include any person you may be paying money to each month on the list and how much money you are being charged. This list should include items like cable. From there, work to get the cost down. If you cannot get the cost down, shop around to see if you can find alternative options for cheaper.
Leave the Credit Cards at Home
Rather than taking your credit card on the next shopping trip, take cash. If you have to use a debit card for a larger transaction then do so, but try to use cash whenever possible. Using cash allows you to visually see your spending and put it into a better perspective, as opposed to a simple card swipe.
Eat At Home
Eating at home more often allows you to save a significant amount of your income. Try to plan weekly meals and create a grocery list to help stay in the range of your food budget. Keep snacks at home, so you don’t have to order out or go to a restaurant.
Be Energy Efficient
Try to use energy efficient appliances that will help you cut back on your bills. Do this after you have saved a significant amount from cutting back on other monthly payments. Most home appliances now are energy efficient and designed to help efforts to go green and conserve energy. Help the environment, and yourself at the same time.
There’s never a bad time to start saving money. Following the tips above will help prepare you for the upcoming year, as well as help you save for your next big purchase.
Care Financial is a privately owned and operated business providing families, individuals, and businesses with comprehensive wealth management strategies. Contact us online at www.carefiancialonline.com or call us at 251-633-7122.
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