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Wednesday, January 23, 2013
Tuesday, January 22, 2013
Money saving tips and awareness
Great online resources launched! Money saving tips and approach
personal finance experts recommend that you have an emergency fund that’s equal to 4-6 months of your net income. If you’re concerned about your ability to save that much money, do you feel motivated to save anything at all? Questions similar to this one can cause so much internal turmoil that you might avoid saving all together. Same goes for your retirement fund. Does confusion around the “best investment” to make keep you from opening or regularly funding your retirement account?
Many of us are confused about the state of our finances at any given time. To begin taking control of your money, you need clarity around your overall financial picture so that you’re operating with awareness. We recommend using an online budgeting tool like Online Budget Advisor to get a good look at where you stand financially. This tool is completely free and super easy to use.
Then, it’s a good idea to take a look at where some cutbacks can take place. Making cutbacks is the easiest way to save money, whether it’s for retirement, emergency fund or a family vacation.
Here are some great money saving tips for 2013:
personal finance experts recommend that you have an emergency fund that’s equal to 4-6 months of your net income. If you’re concerned about your ability to save that much money, do you feel motivated to save anything at all? Questions similar to this one can cause so much internal turmoil that you might avoid saving all together. Same goes for your retirement fund. Does confusion around the “best investment” to make keep you from opening or regularly funding your retirement account?
Many of us are confused about the state of our finances at any given time. To begin taking control of your money, you need clarity around your overall financial picture so that you’re operating with awareness. We recommend using an online budgeting tool like Online Budget Advisor to get a good look at where you stand financially. This tool is completely free and super easy to use.
Then, it’s a good idea to take a look at where some cutbacks can take place. Making cutbacks is the easiest way to save money, whether it’s for retirement, emergency fund or a family vacation.
Here are some great money saving tips for 2013:
- Pay yourself first.
- Set financial goals (short and long term) to help you stick to your budget.
- Save your spare change.
- Attach a goal to your spare change collection.
- Use payroll withholding or direct deposit for a savings account.
- Open a Christmas club account at a credit union and have money deducted from your paycheck each month.
- Save any additional income, such as raises, overtime, tax refunds, and extra paychecks.
- After you pay off a car loan, student loan, credit card, etc. continue to make the monthly payment into your savings account instead.
- Have a garage sale or sell items you no longer use on eBay, Amazon or Craig’s List.
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