Ways to Save Money

8 Pain-Free Ways to Save Money

 

       Looking to get your finances under control? Follow these 8 pain-free tips!

 

1. Plan Your Meals. Eating out is one of the biggest expenses for most households. There’s nothing wrong with treating yourself every now and then -- but avoid going to restaurants merely for convenience’s sake by planning your meals ahead of time.
    
2. Buy Staples in Bulk. Take advantage of lower prices by buying frequently used items in bulk.
    
3. Go Green. Installing energy efficient lights, unplugging items you aren’t using and making other green choices is an easy way to save on your bills.
    
4. De-Clutter. Selling and donating your unused items can bring in some extra income and/or offer tax benefits. Moreover, it will make your home a more comfortable place, helping you spend more time at home rather than going out and spending.
    
5. Shop Smart. Make the effort to drive to the most affordable store in town and print out coupons beforehand and you are sure to save money. Making a list beforehand will help you avoid impulse purchases while guaranteeing that your don’t have to make a return trip.
    
6. Keep a Refillable Water Bottle or Two in the Fridge. Contrary to popular belief, bottled water is not held to a higher standard of quality than the water that comes from your tap -- but bottled water is marked up by as much as 280,000 percent compared to the price of tap water. The one real advantage that bottled water offers is convenience, so why not keep a couple of cold bottles in your fridge and save the need less expense?
    
7. Devote A Bit Of Time and Money to Maintenance Each Week. A penny saved is a penny earned -- and performing regular maintenance on your car, your home, and your appliances can save you a large chunk of change over time.
    
8. Take Advantage of Community Services. Libraries, parks, public pools, and a plethora of local services can help you save money and have a blast without spending a cent. You already pay for them with your tax dollars, so why not take advantage!

 

      If you have any questions or need further assistance please give us a call at

      877-346-2797 we are here to help you.

4 Finance Tips for Young Adults

Managing your finances might seem overwhelming. Money management is not exactly a required course in schools. Yet as soon as you’re out of high school, you’re expected to manage student loans and take on large financial commitments such as rent. All of this can seem daunting, but by building good habits now, you can create huge returns in the future and come out miles ahead of your peers.

 

1. Start Saving Now. A retirement fund is important, even at this stage in your life. Compounding interest means the investments you make now could give you a big payout further down the road. The sooner you start, the less you will have to worry when retirement is around the corner. Saving a bit of your income for an emergency fund isn’t a bad idea either. You never know when you might need it.
2. Practice Self-Control. Start the good habits now. Spending money on fast food and expensive coffee is okay occasionally, but if you’re not indulging with care, bad habits will start to form. When you’re 30, 40, 50 years old, you’ll find it harder to break those habits and harder to make up what you’ve lost. Stay mindful and vigilant when you spend.
3. Understand Taxes. Taxes can be complicated and daunting. Yet they are another fundamental part of life that schools neglect to teach. Learning how to calculate your taxes based on your income will help to determine your budget and will save you trouble in the long run.
4. Start Building Credit. Avoiding overwhelming debt is a no-brainer, but that doesn’t mean young people should shy away from credit completely: now is the time to begin building the credit reputation that will help you make big purchases down the road.

 

Have debt and bad financial choices taken over your life? Madison Monroe and Associates can help by negotiating away as much as half of your debts. Visit us online today to learn more! www.madisonandmonroe.com or give us a call at 877-346-2797 and speak with one of our counselors.