A recent study found that people who automate saving toward their goals achieved a 73% increase in savings over people who didn’t. The bottom line: you’ll save more (and avoid temptation to spend) by automatically saving toward your goals each month.
With inflation high and money tight for so many of us, there’s never been a better time to re-examine how we’re managing our finances and make some moves to save more.
Airfare to air fryers. Thai food to tie clips. Memorabilia to memory foam. You can purchase just about anything these days with a buy now, pay later (BNPL) plan. In 2022 alone, consumers in the US bought around $250 billion in goods using BNPLs. The allure of making a small initial payment and splitting the remaining obligation into a series of automatic withdrawals is undeniable. The question remains: Is this a smart way to gain spending flexibility or a tool rife for accumulating bad debt?
ome. While this will save you money, however, cooking every meal can be daunting for some people, unless you make a meal plan. Here are some tips for creating a successful plan to boost your financial (and personal) health.
You’re probably groaning in frustrated agreement already. Electricity costs can quickly add up and become a significant expense for many households, especially when energy demand is high. With the cost of electricity constantly rising, finding ways to reduce your electricity bill is crucial. Luckily, there are many simple and effective ways to save money on electricity. Here are ten tips to help you save money on your electricity bill and lower your energy costs.
Last month we introduced the “2×2” financial wellness planning system. Why is it called 2×2? You set aside two hours on the calendar two times a month to complete a predetermined financial task. With this modest but consistent effort, you’ll sustain financial health and build wealth in easy bite-sized chunks that you check off the list each month.
Let’s be honest. A whole slew of Americans, almost two-thirds by several counts, have no idea how much money they spend in a month. They also have little idea where their money goes. Yes, taxes and other deductions take a chunk right off the top of their paychecks, but the rest seems to just evaporate. If this sounds familiar, the first piece of good news is that it’s not just you.
You know it’s coming. Without fail, it happens every year in late December and spills over well into January. Call it the Raging River of Resolutions or the Betterment Blitz. Whatever name you use, you surely know the feeling of being bombarded with self-empowerment content and ads for ways to make the upcoming year better than the one before.
emergency fund for whatever life throws at us. If you’re still recovering from the financial fallout of COVID, saving for a future emergency may still seem like a distant dream for “one of these days”, but there are creative ways to start adding to your stash now that won’t impact your daily life, even when times are tight.
When you and your partner are focusing on paying the bills and trimming debt, it’s easy to put fun on the back burner. After all, dining out is a sure-fire way to blow the budget. Expensive vacations? Entirely out of the question!
