They often say, “Small changes can add up to big savings.” We put together a list of 7 easy do-it-yourself financial moves that you simply must take advantage of!
With economic uncertainty all around us, we figured your best strategy for financial health is to control the things you can control.
1. TRIM YOUR WAISTLINE & YOUR INSURANCE PREMIUMS
Trim your wallet!
According to research done by eHealthinsurance, smokers pay an average monthly health insurance premium that’s 14% higher than those for nonsmokers.
Being heavy costs big too: Obese policyholders pay 22.6% more on average than their normal-weight counterparts.
2. BECOME A SMARTER SHOPPER
Try to stay one step ahead of the retailers who are forever luring you with clever marketing strategies. “Buy one get one” only saves you money if you actually need the second item!
Instead, this year, take advantage of sites such as GROUPON or LIVINGSOCIAL that offer deeper discounts with no strings attached!
3. SIMPLIFY YOUR DAY-TO-DAY FINANCES
What’s complex can be intimidating, and tempting to ignore. Vow to simplify your financial life.
Put bill paying on autopilot by setting up automatic payments from your bank account if you’re still writing and mailing checks.
4. INCREASE YOUR FINANCIAL LITERACY
If the last few years have taught us only one thing, it is that you can’t be in the dark about money matters. Focus on your financial education!
5. EXPECT THE UNEXPECTED
Anyone who has ever been out of work for any length of time knows how quickly you can deplete your resources.
Start an EMERGENCY FUND if you have not already! Your emergency fund should have enough cash to cover at least 3 months of basic expenses.
6. PAY DOWN DEBT
Pay off your high-interest debt. If you’re getting charged 12.99% on your Visa, and are only making 1% in your money market account, take the money out of your money market to pay off your credit card. You will have 11.99% more in your pocket!
7. DO A BASIC BUDGET
Financial success starts with a household budget. Track your expenses and know where everything is going, then adjust your budget accordingly. You will likely be surprised where much of your money goes.
Now that you have the tools to get your financial health on track, keep an eye out for next week’s post. It will teach you common remedies and health secrets that may be the solution you’ve been seeking – and it’s been right under your nose!