No matter what you are saving for, whether it be a home, a car, or a sense of financial security – having a goal in mind is a great way to give yourself incentive and motivation. Look after your finances, and follow these tips to save more in 2017.
- Create a budget
Knowing exactly what’s happening with your money will help you immensely. From how you’re spending, to how much you can afford to save, to the length to reach your saving goals – keeping track of your money with a budget is vital.
- Avoid using credit cards
Interest-free payment methods such as prepaid Visa cards can be a much better alternative to traditional credit cards. Although credit cards are convenient, it can also very easily lead to overspending because of the available credit. Overspending can lead debt accumulation over time. Making purchases or settling bills with a prepaid card makes it far easier to spend and save money.
- Request overtime
Working overtime is a great way to supplement your income effectively. Before applying for a second job, see if your current employer is willing to give you some overtime – just a few hours a week can really add to your savings. While you’re at it, ask to be paid with a prepaid payroll card program instead of traditional cheques. Prepaid payroll cards eliminate costly cheque cashing fees and long bank lines which means it can be more time and cost efficient for you. Read More “9 Tips to Save And Earn More with Your Money”