Can you believe it's almost 2022? This year has flown by, so
we thought we would do a quick check-in on our 2021 financial goals.
How did you do? Regardless of if you met your goals or will
be starting again next year with a more hopeful outlook, it's always helpful to
be thinking ahead and prioritizing smart money habits.
We know nobody's goals are the same, so we thought it would
be helpful to give you 20 different ideas, courtesy of our partners over at Greenpath
Financial Wellness, to help you curate your own personal resolutions for
the new year. Let's get into it!
1.
Know exactly how much you make and spend. You
can't set smart goals if you don't these two things.
2.
Automatically allocate some of your
paycheck to savings. Sometimes what you don't know CAN help you.
3.
Set concrete savings goals. Be as
specific as possible and use some of these other tips to help you achieve this
goal.
4.
Create a realistic budget. Was your
budget too ambitious in 2021? Use that goal to help you make a more achievable
budget and be proud of yourself when you make progress each month!
5.
Try the 50-30-20 rule. 50% of your
paycheck goes toward needs, 30% goes toward wants and 20% goes toward savings
or investments.
6.
Use cash-back and coupon apps. Take
advantage of that free money!
7.
Save your spare change. Save coins
if you're a cash shopper or open an Own Your Change account to
round up purchases on your Telhio debit card and watch your "spare change"
accumulate into real savings!
8.
Cancel subscriptions you don't use. Often
overlooked, but quite doable.
9.
Never grocery shop without a list. Check
out our money-saving
grocery shopping tips.
10. Leave
your online shopping cart overnight. If you really can't stop thinking
about the item in your cart, then it can go toward your 30%.
11. Don't
save credit card information with online retailers. Hopefully the longer
it takes to check out, the more you're you'll contemplate your decision and
save that money.
12. Take
the 52-week money challenge. This method involves saving $1 the first week, $2 the second
week, and so on until week 52 when you save $52. After a year, you'll save
$1,378.
13.
Ask creditors for lower interest rates.
This is the perfect time to refinance
because the rates are so low!
14.
Stash away unexpected lump sums. Pretend
you didn't get that bonus and put it in your savings ASAP!
15.
Leverage credit card rewards. It
might take some time to familiarize yourself with the reward systems, but you
can really use them to your advantage.
16.
Save money by bartering. Ready to
brush up on your negotiating skills?
17.
Sell items you don't use. Declutter
and make money at the same time? I like the sound of that.
18. Lower
your utility bills. There are many ways to lower
your utility bills, and we've already listed them for you.
19. Use
spending as a reward. Tie in your other new year's resolutions with your
savings. For example, if you work out three
times a week for the entire month, you can treat yourself to something nice.
It's a win-win!
20. Plan
for the future. Make different savings accounts for different life
goals. Planning and saving for the future will alleviate stress and financial
hardships down the road.
Telhio Credit Union can help you with your financial
journey. Call one of our experts today to learn more!
