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.