This year, resolve to take these five simple steps and improve your financial situation:
- Spend less than you earn—No matter how much or how little you’re paid, you’ll never get ahead if you spend more than you earn. It’s easier to spend less than it is to earn more, and a little cost-cutting can result in big savings. Use the TouchBanking app to track your expenses on the go.
- Stick to a budget—You can’t set spending and saving goals if you don’t know where your money is going. If you use Virtual Branch, then you have access to our account aggregate uni$ource that allows you to monitor all your finances in one place as well as create a budget and track your spending. Take a look at your current habits and pick out ones that are wasteful. >> Read Beginners Guide to Budgeting
- Pay off credit card debt—Credit card debt is the main obstacle to getting ahead financially. The fact is if you don’t pay your balances off quickly, you’ll end up paying far more for things than you would have if you used cash. >>Read How to Lose Control of Your Credit in 10 Ways
- Contribute to a retirement plan— If you aren’t planning your retirement, this should be the year to get on track. Schedule a free consultation with Jake Bleyenberg of West Community Investment Services and start building your nest egg today!
>> Free seminar “Roadmap to Retirement”
- Start an emergency savings plan—Don’t wait until you’ve met all your other financial obligations before you start saving. Instead, set aside a minimum amount of your income for savings BEFORE you pay your bills. Better yet, have money automatically deducted from your paycheck and deposited into a savings account.
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