Keeping up with financial commitments can be overwhelming even in the best of times. Reducing the clutter of multiple debts can help clear the path to budget solutions. If you’re looking to improve your personal finances by finding a little extra cash or saving on some bills, perhaps these simple financial tips can be helpful.
1. Clean up your subscriptions.
Take a look at your checking statement to see how much is coming out automatically each month. You may be surprised to see payments you may have forgotten about for things you don’t need or no longer use.
Taking a few minutes to change autopay settings or making a call to unsubscribe can add up to savings. Also, be aware of subscriptions with a low initial price that inflates at a later date.
2. Make a meal plan and a grocery shopping list.
This one almost seems too simple, but we all have days where we run into the grocery store for one item and come out with a cartload of things without a plan for how they fit into our family’s meals. Think ahead, and plan meals for the next few days.
Check your pantry to see what you need and also what you already have. Try to buy perishable goods like fruits, vegetables, and dairy products in amounts that you know you will be able to consume before they go bad.
3. Have a virtual yard sale.
With the rise of online shopping, there are many apps and websites for selling the things that we no longer use. Consider selling any sports equipment, knick-knacks, or those well-intentioned wedding presents that just aren’t your style (it was the thought that counts). Look around. Chances are you’ll come across a few things that you may no longer have a use for but would be valuable to someone else. Then, sign up on eBay, Nextdoor, Facebook Marketplace, or Craigslist. You could clean up in more ways than one.
4. Hide advertisements from yourself.
They’re everywhere: in your mail, email, Facebook, not to mention TV and radio. Give yourself a break. Let those catalogs go straight to recycling unopened (saving both time and money). Unsubscribe from email retail ads. Even if the deals seem too good to pass up, you can be sure they will come around again.
5. Count to 30
So, you found something that you really want. Stop. Wait 30 days and see how you feel. The prospect of purchasing something can raise our excitement level, but in many cases, the feeling will pass.
Another way to prevent impulse shopping online is to remove any saved credit card settings on your favorite shopping sites. It’s all too easy to buy when our payment information is already in place. The simple act of having to enter shipping and payment info can often deter us from impulse buying.
Sometimes there are purchases that can’t wait, and if that’s the case, Regional Finance may be able to help with a personal loan.
6. Collect your cash.
Take a look under your couch cushions, empty your pockets, stop the jingle in the dryer, and get to the bottom of the rattling in your car console. Collecting change throughout the year can add up to some serious money.
Fill a sock, piggy bank, or jar, then take it to the bank or cash machine and deposit in your savings account. Using cash instead of credit or debit can also be a way to deter spending and start saving money.
7. Make a budget and stick to it.
Taking a close look at your monthly expenses and spending can open your eyes to where money may be better allocated to achieve the goals you have. Follow some of these budgeting tips and guidelines to help you get started.
8. Clean up your debt.
The interest on debt can be staggering. The sooner you pay off that debt the better. Look for ways to consolidate debt on your credit cards and improve your credit score.
So, things are looking up. Organization can help you save a tidy sum.
Your friends at Regional Finance can help you make it through some rough patches or help you reach your goals. Learn more with these tips to help you get your finances in order.
You can prequalify for your loan online in just minutes. Or, if you prefer, call or stop by your local branch. Our loan specialists can answer any questions and help you fill out an application for the personal loan that fits your needs.