When it comes to money, there are probably many things that you wish you could tell your younger self, things that could save you a lot of financial headaches. Always Money wants to share just a few tidbits of that wisdom.
1. Buy more groceries instead of eating out all the time. You could save tons of money by eating at home.
2. Start building your credit early. Installment loans or credit cards are great ways to start building your credit. Just be sure to make on-time monthly payments.
3. You can save more by buying an older car. You can still get where you need to go if you buy an older model.
4. Deposit at least $25 a week in a savings account. That adds up to $1,200 a year in spare funds.
5. Live below your means. Living below your means might not get you the nicest apartment or car, but at least you’ll have more than enough extra money every month to do what you want.
6. Pay your bills on time. Late payments can drag your credit down and hurt your rating. If you set up automatic payments on your bills, you’ll never have to worry about a late fee again.
7. Learn how to budget. Put first things first. Your bills should take first priority, followed by future savings, and then wants.
8. Don’t forget to pay your taxes. Save money throughout the year to pay the IRS in April; and conversely, if you have a refund, do not go out and spend it all.
9. If your company offers a 401K retirement savings program, contribute. Some employers offer a company match to those who contribute.
10. Don’t be embarrassed to use coupons. With the extra savings, you can afford more luxuries or pay off a debt faster.
Though you can’t turn back the clock, it’s never too late to make better decisions for your financial future. These tips can help you make better long term decisions, but if you’re in a rut right now and need help paying off debts or creating a financial cushion, Always Money can help you with an installment loan or other affordable personal loan options. Call us today to speak with a live representative and find an option that works best for you.