When you’re living paycheck-to-paycheck and struggling to pay off your debts, saving money can feel like an impossible pipe dream. But you’d be surprised how the small act of getting creative in finding ways to save money can pay off. Commit to better financial health with these five easy-to-follow habits:

Trim Your Food Bill

If you have taken a hard look at what you spend money on, chances are there’s food and drink involved in a big way. Food is one of the highest expenses in everyday American life — and it’s also one of the best areas to do some trimming. Download the app Ibotta to see the best days to grocery shop. For example, stock up on wine on Tuesdays to pay 4 percent less, save 1 percent on bread on Wednesdays, or save on snacks on Thursdays and produce on Fridays. Small savings can add up over the year.

Get Coupon-Savvy

Are you clipping coupons? You don’t have to be a grandmother to search out the best deals on everything before you buy. Scouring the Sunday newspaper, looking at ads for grocery stores, and checking manufacturer websites for savings can net you discounts you may not have known existed. Just be sure you only buy exactly what you need — don’t go for the deal, just because it’s a deal.

Stick to a Budget

One of the most basic ways to save money is to create a budget and stick to it. Sit down and add up everything you’re spending money on each month. Are you spending too much on clothing, food, entertainment or gifts? Make envelopes for each type of spending and limit the amount you spend for each. Take any leftover funds and put them in a savings account. Over time, you can see that savings account grow!

Get an App

There are many apps available for your smartphone to help you save money. Some, like Qapital or Acorns, take the change from your purchases and put them into a savings or investment account. Others, like Goodbudget and Mvelopes, create virtual “envelopes” that help you track all your spending and let you know when you’re reaching your monthly budgeting limit. Recording all your spending is a good way to stay mindful about your savings goals too.

Just Say No

It’s not always easy, but putting limits on your spending by simply saying “no” will make a big difference. If you buy coffee every day, say no two times a week. If you eat out three times a week, say no one of those times. When you go to the grocery store, put a few items back before getting to the checkout. If you want to buy two shirts, only buy one. At first, this habit feels like a painful restriction, but you are rewarded in the end with some impressive savings.

When it’s time to get creative to overcome your debts, click on Refi.com’s debt consolidation page to connect with an expert today.

Sources:

https://americasaves.org/for-savers/make-a-plan-how-to-save-money/54-ways-to-save-money

https://www.lifehack.org/articles/money/how-can-save-money-25-tips-how-save-money-fast.html

budgets save money

When you’re first creating a budget and working to stick to it, it’s easy to feel overwhelmed. You have to sit down and think out all the different ways you expect to bring in money. You have to go bill-by-bill to figure out exactly what you have to pay. You have to figure out your timeline for income and expenses. But most of all, you have to follow it. Looking for some tricks to make your budget easier to follow so you can save more money? Read on:

debt relief program

Looking for a program that will help you get out of debt? Some of the programs in the market today are more likely to make money for a company than helping with your debt relief. Educate yourself about your options before choosing a path. There are four main types of debt relief programs that are available for you:

Debt Consolidation loans

If you’re looking at debt consolidation loans, chances are your credit isn’t as good as it could be. Does this mean you won’t qualify? Before you lose hope, know that there are many options available to those with bad credit to consolidate their debt and begin efforts to improve their financial health. It can take time and dedication to dig out from maxed-out credit cards, medical bills, student loans, and other mounting debt. Working toward a solution and committing to the process will, over time, help you reach your financial goals and improve your credit. Here are some things to consider when qualifying for debt consolidation loans:

If you’re struggling under a mountain of debt, you may have already convinced yourself that you could never qualify for a personal loan. Well, think again. Although credit scores, income and debt-to-income ratios are certainly considered when candidates apply for personal loans, it may be easier than you think to receive a loan that could help improve your financial situation by shrinking that mountain. Here’s a look at what lenders are looking for when making personal loan decisions.

5 Creative Ways to Save Money

When you’re living paycheck-to-paycheck and struggling to pay off your debts, saving money can feel like an impossible pipe dream. But you’d be surprised how the small act of getting creative in finding ways to save money can pay off. Commit to better financial health with these five easy-to-follow habits:

rainy_day

Rainy days can be peaceful and relaxing — unless, of course, the roof starts leaking and you suddenly have an unexpected expense and no funds for repairs. Emergency funds are used to cover expenses for all kinds of unforeseen situations, from medical bills to housing repairs. Without any savings, both individuals and families can get a real shock when problems arise. Emergency funds should amount to at least $500 to $1,000 kept in a savings account you do not touch unless you have a real emergency. It’s smart to save on a daily basis — in ways that don’t stress your budget — so you are always prepared for that inevitable emergency in the future.