Bellmore Group Management Services , Tokyo Japan on Saving and Spending Hacks
Were you a victim of the holiday spending spree this past season or a winner ? Many of us lost ; and the New Year gives us pause to evaluate our personal financial habits once more and , hopefully , initiate some positive and lasting changes for the future .
Consider these valuable saving and spending hacks you can implement . Go long-term
Think ahead into the future . Whatever your age is , save now for your retirement . The earlier you do , the better . Apply for an employer-sponsored plan , if possible . Or if you can , opt for IRAs which help you build wealth in bounds .
Build categorized funds
Think of this as a challenge : Do the 52-week savings procedure . Set aside $ 1 on the first week , then $ 2 the second week , until you finish the 52 nd week , when you are supposed to add $ 52 to your pot . Hacking this process gives you $ 1,378 in savings in the next year , plus interests earned .
As long as you set for yourself a specific goal , starting a savings account can bring great benefits . Go for banks that offer fee-friendly services , such as Ally Bank Member FDIC , ally . com , which enables you to open an Online Savings or Money Market account without minimum savings requirement or monthly service charges . It is quite convenient to deposit money through an e-check deposit , direct deposit and you gain compounded-daily interests on your savings . Moreover , keeping this money in a separate account lets you monitor your spending habit versus the remaining balance .
Utilize shopping apps
It has become quite easy to save money using online apps . Do some research and find discount codes , loyalty plans or cash-back providers that allow you to monitor your expenses and reward you for the use of their shopping portal instead of going directly to the big name retailers ’ homepage .