Saving money is often easier said than done, especially when ads and marketing campaigns are constantly trying to lure your dollars away from you. Money is also a big source of stress, and one study found that money issues were even more stressful than jobs or relationships.1
There is little doubt that saving money is an essential habit for your financial Well-being. If this is one of your health-related goals, try these simple money-saving tips:
- Automate. Automate your savings strategy by setting up automatic transfers from your key accounts on a regular basis. Leveraging technology makes saving quick and easy.
- Make extra mortgage payments. Pay down your principle earlier to reduce the amount of total interest you pay over the lifetime of your loan.
- Ride your bike. For shorter trips, ride your bike or walk instead of driving. Not only is the exercise good for your health, but it will also save you money on fuel.
- Eat at home more. Cook at home more often to better control your food expenses.
- Review your financial statements regularly. Review your financial account statements regularly to identify fraudulent or suspicious activity quickly
Saving money is essential to your financial well-being, and leveraging a few simple money-saving tips can make a big difference over time.