10 Helpful Tips

Tip #1: Make a budget

The first step towards saving money is recognizing where your money is going. Start by making a list of all your expenses. From there, you can start to decide which expenses are necessary and which ones can be cut out.

Tip #2: Eliminate waste

Sometimes saving money simply means being smart with your money. Bundling financial, telecommunication and other services can save a lot of money throughout the course of a year. Purchasing necessities in bulk and avoiding things like late fees can also keep more money working for you.
Tip #3: Pay down high-interest debt

If you owe money on high interest credit cards, focus on paying those down first. The less money you give away in interest, the more you have to save for other things.

Tip #4: Make healthy choices

Healthy choices can be as good for your wallet as they are for your body. Things like smoking, eating fast food, microwaving prepackaged food when you get home is not only unhealthy; they also cost a fair amount of money. If you can reduce or do away with those sorts of expenses, you’ll save money and feel better.

Tip #5: Plans your meals around your grocery store flyer

Instead of just planning your meals based on a cookbook or whatever you can dream up, plan all your meals around what’s on sale in your grocery store’s flyer. Look at the biggest sales, then plan meals based on those ingredients and what you have on hand, and you’ll find yourself with a much smaller food bill than you’re used to.

Tip #6: Buy Used

Quite often, you can find the exact item you want with a bit of clever shopping at used equipment stores, used game stores, consignment shops, and so on. Just make these shops a part of your normal routine – go there first when looking for potential items and you will save money.

Tip #7: Increase your income

Having multiple income streams, either through multiple jobs, a side job, or a rental property are examples of ways you can increase your income. Diversifying your income is always a good idea. It’s like owning stock; you don’t want all of your stocks to be in one company.

Tip #8: Sign up for Rewards Credit Cards

Never apply for credit cards without having an established budget and wise financial habits in place. However, as long as you use them correctly, using a cash back or rewards credit card can be a great way to earn bonuses for your day-to-day spending. Just make sure you have the discipline to pay off your balance in full each month, or the interest charges will more than offset your cash back rewards.

Tip #9: Switch your account to Sunrise Credit Union

Having a trusted and knowledgeable full service financial partner that knows you, your goals and your unique needs is a critical part of your money management plan. At Sunrise Credit Union, our goal is to keep it simple but to ensure you know all your options to help develop a plan that’s as individual as you are. When you have a personalized and well thought out financial plan you’ll know you’ve taken control of your future and that the best is yet to come.

Tip #10: Set Goals

If you spend time with the people you love the most and come to some consensus about what you want to do with your money and what your financial future looks like, it becomes easy for you to plan for it. If you’re planning and working together towards this dream, it becomes easier to stay focused on it and reach it. Set a big, audacious goal together and encourage each other to be financially fit – soon, you’ll find you’re doing it naturally and your dreams are coming closer than ever.


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