Saving Money Should Be Simple

With the start of the new year many people are reevaluating their budgets. Staying on budget doesn’t have to be the daunting task many make it out to be. Here are some simple tips to reduce the amount of time you spend thinking about budgeting.

Automate your savings
It is recommended that you save 5%-10% of each pay check into a savings account. Try setting up an automatic transfer to be taken after each payday. With such a small amount being withdrawn you most likely not even miss the money. And in the long run you will have a lot more!

Avoid credit cards, stick to cash or debit
It is easy to overspend when all you have to do is swipe and “just charge it, please.” Take out set amounts of cash each week for things like eating out, shopping, or other fun activities. This way you know if you run out of cash you might need to make other plans.

Cut-out unnecessary items
We recently realized that we rarely are home to watch TV and our cable bill was the largest portion of our utilities… so we cancelled our subscription and we haven’t missed it once!

Go over your monthly bills with a critical eye and find areas where you could cut back or cancel all together. Do you really need 500 channels if your family only watches about 20 combined?

Shop around to save
When you sign up with an Internet, Cable, or phone company most people are given a promotional package for a discounted rate. When the promotion period runs out your bills will sky-rocket. Search online for alternative places to receive similar services.

Go paperless
Paper bills are not only bad for the environment, but they always take quite a bit of time to pay and process. Switch to automatic online payments so you can use your time more efficiently.

What additional ways do you make saving money easier on yourself?

Melanie Lovejoy
College Works Painting
mlovejoy@nsgmail.com

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