Archives for January 2015

How to Make Your Savings Goals Stick

get link In our last post we discussed ways to begin taking control of your finances. This week we’ll go over some ways to make those savings goals stick.

1. Do it automatically. You can set up an automatic transfer with your bank so that each pay period a certain amount of money will be transferred to your savings account. This way you don’t have to think about it, which makes it much more likely to happen!

2. Make it fun. Challenge a friend or family member to see who can save the most over a period of time. Just make sure the prize is FREE! Maybe the loser has to cook the winner a meal or wash their car. Make saving money a family affair by creating a savings thermometer. Draw a giant thermometer with your savings goal at the top. Once you reach your goal have a party to celebrate.

3. Reward yourself.

opcje binarne gra demo You have been pinching pennies and your savings account is growing! Periodically rewarding yourself with a small bonus will motivate you to keep going.

Taking Control of Your Finances in 2015

opzionibinarie60 If you’re like most people, the New Year often prompts you to set goals for yourself. Maybe this year you have decided to reduce your debt or save more money. Here are some great tips to get you started:

1. Identify your goal.

opzioni binarie demo iq Do you want to start an emergency fund? Save for a home? Get out of debt? Identifying your financial goal will help you develop a plan and stick to it.

2. Review your finances.

freesiq optiontockcharts Most people underestimate how much money they spend. Print out 12 months of statements from your bank and credit card accounts. Highlight your fixed (mortgage/rent, utilities), irregular (car and home maintenance, taxes, etc), and discretionary expenses (shopping, restaurants, entertainment, etc.)

3. Create a budget.

source site This gives you control over your money. 55% of millionaires keep a budget!

4. Track your expenses. Tracking your spending habits will show you exactly where your money is going.

5. Eliminate debt.

Eliminating debt can seem intimidating. Remember to tackle one debt at a time. For credit card debt, start with the card that has the highest interest rate. Make larger payments on that one while making the minimum payment on any others.

6. Review your credit report.

It’s smart to check your credit report annually to confirm that all your information is correct as well as to alert you in case there has been any fraudulent activity.

7. Start an emergency fund.

Having 3-6 months of living expenses stashed away will give you peace of mind and protect you in the event of an emergency.

8. Invest

By making smart investments you can have your money work for you!

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