How to Save More This Year

If one of your New Year’s Resolutions is to cut back on spending and save more, take stock of our quick and easy tips:

• Track your spending. This will help you to see where you have some waste. Maybe it’s too many premium coffees or lunches out that you cut back on. Or maybe you consolidate or carpool to reduce your fuel bill. Around the house, maybe it’s dialing back the thermostat. All can help you save and collectively, really add up!
• Watch for spontaneous spending. Make a list when you go shopping (even smaller trips) and stick to it. After you cut back on the splurges or “little extras” that add up quickly, put that money aside and save for something special instead.
• Clip (scan, sign up for…) coupons. They can reduce your cash outlay more than you think. When you can save 5, 10 or 20 percent, the discount can add up, especially on a more significant purchase. Then make a corresponding deposit into your designated savings.
• Automate your saving. When you use tools like payroll deduction, you make saving easy and convenient. It’s like paying yourself first every pay period! Plus, if it’s automatic, you make saving a priority every time you get paid!

If you need some extra help, stop in and see us! We can get you started on a savings plan.