We wanted to help you kick off 2016 with a bang and make it your most successful year yet! Here we give you exclusive financial tips to start off a sound New Year!
Set Goals with a Budget Worksheet
You may feel this takes you back to grade school, but this tip is very helpful in keeping your finances organized. Here you can lay out what bills need to be paid when and when direct deposits come in so that you can plan for a little bit of savings at the end of each month to boost your savings for big picture goals. If you Google “Budget Worksheet,” there are plenty of free options that you can use.
Take Those Baby Steps
- There are some very simple small steps that you can do to daily to help you put away extra money each month to build up your savings. Here are a few:
- 1. Cut-Down on Spending – once you have a budget worksheet set-up, make sure you log where you are spending your money and see where you can cut some of your spending. Maybe it’s with morning coffee runs or dining out.
- 2. Look at your Statements – it’s so easy to receive your bank statements, utility bills, etc. and automatically pay them. Make sure that everything adds up and you are not being charged any extra fees.
- 3. Avoid Late Fees – avoid late fees by setting up automatic bill pay. You can also log this on your Budget Worksheet, so you can expect when money will be taken out of your account.
Build Emergency Savings
Just like we prepare for major disasters, it’s important to have money set aside for unsuspected fees, repairs, etc. You can add this as a section in your budget to set aside any amount you can to build up a nice safety net for the future.By Admin Wolf Kline