How to Get Your Finances Organized this Year

Everyone wants to spend less and save more. However, that’s easier said than done. We already know not to eat out four times a week or to spend an inordinate amount of money on clothes, shoes, and other “wants”. That’s why we’re presenting ways to spend less, save more, and go beyond that if that’s what you choose.

How to Spend Less

If you haven’t already cut out your cable television services, consider doing this now. Calling your cable company and asking for any deals you can sign up for is a great way to save $20 to $30 a month. That’s $20 t0 $30 a month that you can put into savings. These savings can balloon up to $360 a year!

Another way that you can end up spending less money is to wait a bit before you make major purchases. Even waiting two or three days to buy that new refrigerator can help you figure out whether this purchase is a “want” or a “need”. You can even use the waiting period to look for deals to save even more money.

Try to get your credit card company to waive their annual fees. If you’re paying these types of fees, you’re having up to $100 to leave your wallet every year. Not paying this fee could be as simple as making just one phone call. One study even showed that over 80% of cardholders who asked to get their annual fee eliminated were successful in doing so.

How to Save More

When you go to the grocery store, bring your shopping list and a full stomach! By keeping your shopping to the items on your list, you’re not only keeping more money in your pocket. You’re also saving money because you’re not buying extra food because you’re hungry.

An additional way to save money during your weekly trips to the grocery store is to stick to the store brands. Most of the time, generic store brands taste just as good as the fancier brands. Best of all, these generic brands are often a lot cheaper.

Have a good driving record? If you don’t have any points on your license and have never been in an accident, talk to your auto insurance provider about possibly getting a much better rate for yourself. You could also shop yourself to different providers if you don’t get the rate you want with your current company.

Lastly, there’s always an opportunity to get a better cell phone plan for you, and maybe even your loved ones. Call your mobile service provider to see whether you can get additional minutes, more data, or a lower bill. You never know what you could get unless you ask.

Should I Start Investing?

Whether or not you should start investing will largely depend on your personal financial situation. For example, if you have significant debt, you might want to concentrate on paying down a large portion before you begin to focus on putting your money into other instruments. But if your debt is paid down and you have some money in the bank, investing can serve as a great way to grow the money you already have.

If you don’t have thousands of dollars to put into the stock market, you don’t necessarily have to give up on your investing dreams. You can always start small. For example, you can get investing help from robo-advisors such as Betterment and Wealthfront. Apps such as Robinhood serve as other methods for investing a portion of your income without taking on a significant amount of financial risk.

There are as many ways to get your finances in order as there are dollar bills. By spending less money, putting more money into savings, and doing such things as putting aside a portion of your income into investments, you can start seeing your personal wealth grow by the day.

All opinions expressed on USDR are those of the author and not necessarily those of US Daily Review.