Ways to save

Wednesday, September 25, 2019

Ways to save:

  • Cut out bad habits and addictions
  • Cook at home & make/ brew your own coffee
  • Enroll at the gym as a way of entertainment
  • Get generic brands
  • Buy in bulk
  • Avoid vending machines and spending out
  • Plan meals ahead
  • Buy discounted items or items that are on sale
  • Avoid impulse buys
  • Set a limit on purchases and gifts
  • Consider the difference between a smart thoughtful purchase vs expensive purchase as a gift. Just because it’s pricey doesn’t mean it’s the best gift

Consider ways to pay off debt. There are many different ways to pay off debt.

– Smallest debt first

– largest rate etc.

Don’t add new debt.

Consider using direct deposit to automatically save.
Research fees and best interest rates.
Make it harder to spend & easier to save.

Periodically check to see if you’re meeting savings goals.

Save for emergencies and common expenses including budgeting for vacation and retirement.

  • What are you wanting to save for?
  • How much money is needed?
  • How long will it take to save to achieve this goal?
  • Will I need to change my savings habit to achieve my goal?
  • Am I falling short or on target?

Consider having separate accounts for separate savings goals.

Pay yourself first and build a cash reserve in case of emergencies and make this automatic.

Author: savvywealthmedia

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