Articles Tagged ‘saving money’
How to Save $1,000 in Thirty Days
Friday, November 9th, 2012
No one would argue that saving isn’t an important component of a healthy financial plan, but “saving” is merely a concept. Without having an idea of why saving is important, how much you need to save, and how you intend to get there, it can be difficult to make any progress.
The best way to save is by having a goal for the amount you want to save, and a timeframe for doing so. Without a goal you won’t know whether you’re saving enough, and therefore won’t be able to come up with a plan to achieve. Wouldn’t it be...
How to Develop and Improve Your Money Saving Habits
Wednesday, October 17th, 2012
Saving money is one of those habits that we know is good for us, but might not have developed particularly well. For an individual who doesn’t currently save, perhaps it’s because they’ve faced some financial hardships in the past, that they’re too busy “enjoying life” or that they simply never saw the value of devoting any of their energy to saving.
But at the end of the day, none of those reasons is particularly important. Rather than spend time figuring out why we don’t yet have that good habit in place, it’s better to simply start building one.
Here is some...
Banking Advice on How to Set Up an Emergency Savings Account
Thursday, July 12th, 2012
One of the key principals on the path to financial independence is to build up an emergency or “rainy day” fund. The purpose of such a fund is to provide you with a financial cushion in the event that you lose your job, are involved in an accident or are otherwise faced with significant unexpected expenses that your normal income can’t cover.
The traditional advice is to build up your emergency savings account until it contains at least six months’ living expenses. But given the increasingly longer times that many individuals are finding themselves out of work, you might wish...
When is it Okay to Splurge on Something?
With all the effort we put in to keeping ourselves on a sensible financial plan, it might sometimes seem like there aren’t enough opportunities to treat ourselves or to splurge on things that might not otherwise appear to be “sensible” purchases.
But making appropriate financial decisions doesn’t have to mean that you can’t splurge from time to time. Denying yourself each and every “guilty pleasure” – even small ones – might eventually lead you to make an expensive and indulgent that does significant damage to your financial health.
The key is to limit yourself to splurging when it makes financial...
Tuesday, June 26th, 2012
With all the effort we put in to keeping ourselves on a sensible financial plan, it might sometimes seem like there aren’t enough opportunities to treat ourselves or to splurge on things that might not otherwise appear to be “sensible” purchases.
But making appropriate financial decisions doesn’t have to mean that you can’t splurge from time to time. Denying yourself each and every “guilty pleasure” – even small ones – might eventually lead you to make an expensive and indulgent that does significant damage to your financial health.
The key is to limit yourself to splurging when it makes financial... How to Curb Spending and Increase Savings
Thursday, May 24th, 2012
Building financial independence and security takes time. In large part, good financial decisions and behaviors are variations on a single theme – spend less and save more. But simply knowing that it’s a good idea to do those things can seem too abstract, unless that knowledge comes with some guidance on how to take action to actually do those things.
Don’t try to change every aspect of your financial behavior all at once. It can be overwhelming to try to completely change too many behaviors all at once, and that can make it difficult for any of those changes to...
How to Save an Extra $50 Each and Every Week
One of the most important pieces of financial advice you’ll ever receive is the importance of getting into the habit of saving money. This holds true regardless of your financial position, and whether you’re trying to save a lot or a little each week.
If there’s any downside to being on a regular savings program, it’s that sometimes we get so used to saving a certain amount each month we aren’t necessarily saving as much as we could be. In fact, regardless of the financial situation you find yourself in, it’s quite likely that you’ll be able to save an...
Thursday, May 17th, 2012
One of the most important pieces of financial advice you’ll ever receive is the importance of getting into the habit of saving money. This holds true regardless of your financial position, and whether you’re trying to save a lot or a little each week.
If there’s any downside to being on a regular savings program, it’s that sometimes we get so used to saving a certain amount each month we aren’t necessarily saving as much as we could be. In fact, regardless of the financial situation you find yourself in, it’s quite likely that you’ll be able to save an... Banking Advice – 5 Ways to Save Money on Gasoline
One of the best ways to improve your financial situation is by saving money on things that are always going to be a part of your budget. While it’s helpful to eliminate unnecessary items from your budget, there are certain items that you’re always going to have to buy. For many individuals and families, gasoline is one of those things.
Thankfully, there are ways to cut the amount you spend on gasoline each week without having to significantly change your lifestyle. You’d save a lot of money by getting rid of your car, of course, but that’s not going to...
Tuesday, May 1st, 2012
One of the best ways to improve your financial situation is by saving money on things that are always going to be a part of your budget. While it’s helpful to eliminate unnecessary items from your budget, there are certain items that you’re always going to have to buy. For many individuals and families, gasoline is one of those things.
Thankfully, there are ways to cut the amount you spend on gasoline each week without having to significantly change your lifestyle. You’d save a lot of money by getting rid of your car, of course, but that’s not going to... How to Save Money for an Expensive Purchase
In thinking about personal finance, it’s clear that much of the discussion usually relates to how your spending and saving decisions affect the future. Many times the “future” tends to deal with long-term goals such as retirement, becoming debt-free or saving for a child’s college education. But financial planning can also apply to things that would strike most people as being a little bit more “fun.”
For example, you can use general personal finance principles to help you save for an expensive purchase. What the item is doesn’t matter nearly as much as how you go about saving for it.
...
Thursday, April 5th, 2012
In thinking about personal finance, it’s clear that much of the discussion usually relates to how your spending and saving decisions affect the future. Many times the “future” tends to deal with long-term goals such as retirement, becoming debt-free or saving for a child’s college education. But financial planning can also apply to things that would strike most people as being a little bit more “fun.”
For example, you can use general personal finance principles to help you save for an expensive purchase. What the item is doesn’t matter nearly as much as how you go about saving for it.
... Saving Money: Save 10% of Your Salary and Watch Your Savings Grow
One long-established piece of personal financial advice is that you should save 10% of your salary or wages each and every time you get paid. The idea is that by “paying yourself first” you won’t have to scramble to find money at the end of each month to deposit for savings. Instead, you’ll fund your savings before any other spending decisions or choices are made.
The earlier you can begin implementing this rule, the better. If you’re not already doing so, make every effort to begin with your very next paycheck. Even relatively short term consistent savings can add up....
Tuesday, February 14th, 2012
One long-established piece of personal financial advice is that you should save 10% of your salary or wages each and every time you get paid. The idea is that by “paying yourself first” you won’t have to scramble to find money at the end of each month to deposit for savings. Instead, you’ll fund your savings before any other spending decisions or choices are made.
The earlier you can begin implementing this rule, the better. If you’re not already doing so, make every effort to begin with your very next paycheck. Even relatively short term consistent savings can add up.... Paying Yourself First – The Key to Saving Money
There are many different ways to build your savings and secure your financial future. Reducing your highest interest debt before paying down other debt, setting and sticking to a budget and reducing unnecessary costs are all important pieces of meeting your financial goals.
One concept that isn’t quite as well known, but which is very effective (as well as being very easy) is the idea of “paying yourself first.” The basic idea is to characterize your savings or investment plan as a “bill” that needs to be paid just like any other.
Below is banking advice you can use to...
Friday, December 16th, 2011
There are many different ways to build your savings and secure your financial future. Reducing your highest interest debt before paying down other debt, setting and sticking to a budget and reducing unnecessary costs are all important pieces of meeting your financial goals.
One concept that isn’t quite as well known, but which is very effective (as well as being very easy) is the idea of “paying yourself first.” The basic idea is to characterize your savings or investment plan as a “bill” that needs to be paid just like any other.
Below is banking advice you can use to... 
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