Save Money With These Four Habits
All of us could use a few extra bucks here or there. The only trouble is that saving money is easier said than done.
There is plenty of advice out there on how to make money, but a lot of us have the wherewithal to know just how to save our money, but we lack some of the more intermediate money-saving skills.
These are some of the better money-saving and habits that will lead to you having a bigger checking account at the end of the month.
Pay Off Debts Quick
There are common debts a lot of us deal with every month. Car payments, mortgage payments, medical debt and student loan debt are all hard to pay off entirely. However, if you plan out your payments and know where to strike first, it can be a lot easier.
Take a look at the interest rates on your debts. The ones with the higher interest rates are the ones you want to focus on paying off quicker. If your payment plan calls for you paying $200 a month on your car and this is also your highest interest rate, try paying $300 a month instead to take it down quicker. This can make your debts go down quicker while accumulating the least amount of interest.
Use a Saving App
Nobody wants their mommy to look over their finances on a daily basis. People want to have control of their money without the worry of someone else being too nosy. However, some of us need that extra help when it comes to saving our money.
This is where Albert comes in handy. Albert is an app that takes a set amount from your checking account every week and throws it into a savings account on the side. Albert also lets you know what you are spending a lot of your money on, and what can be nixed.
Live Below Your Means
Think about everything you spend money on every week. There’s a chance that you don’t need most of those things. Simple things like fast food, nicer clothes, streaming services and expensive ride-share rides can all add up.
Instead, you should spend your money on things that are smarter and cheaper. Cook your own food, wear clothes within your price limit and take cheaper public transportation.
We sometimes spend money on the stupidest stuff. When you’re walking through a department store, there are tons of things that you buy on impulse that you really don’t need in the long run. Make sure that everything you buy is something you actually need.
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