Published by Shayla Kriha, Relationship Manager
We all know saving money is not the most exciting or even the easiest thing to do, but we all know that it’s important to do! Over my years at Carson Wealth, I have learned lots of ways to help save money.
Here are a few of my favorite tips:
First, start saving at a young age. As the years go on, even the smallest deposit in to your savings will begin to grow.
Second, always put a percentage of your pay check into a savings account. Set your paycheck deposit to make an auto contribution into your savings account on the day you get paid. One of my favorite sayings is, “Pay Yourself First.” Isn’t that a great concept?! If you get into a habit of doing this early on you won’t even miss those additional funds.
My third tip would be: track, track, track! It’s critical to track your spending so you know where your money is going. Thanks to today’s technology there are apps available to help you maximize every dollar you earn. You should always be aware of how much of your income goes towards monthly bills, personal expenses, entertainment and savings. Review your expenses and determine where you can cut back or reallocate money towards your savings. Remember, even small purchases, like your favorite coffee from the corner coffee shop will add up over time.
While contributing to your savings is not the most exciting way to use your money, there will come a day were your car doesn’t start or your furnace goes out and you will be thankful that you have funds to turn to. If you take anything away with you today, please remember to always “Pay Yourself First;” you will thank me later!