Every year, we see people make New Year’s resolutions that are hard to fulfill. They want to lose weight or get a promotion or spend more time with the kids. Often they give up a few months into the year. One resolution that’s worth striving for is to save more money. Not only will more money in the bank prepare us for our retirements, but it will ease some of that tension many of us feel when it’s time to pay the bills. Here are some tips that might help.
Divide Extra Income
Any time we receive some sort of extra income, whether it be a bonus, a gift, or just overtime pay, many times we end up spending it instantly as if we never had it to begin with. Rather than thinking of this extra cash as a way to reward yourself with gifts, you can use it a lot more responsibly to help with finances. The rule of thirds can be applied to extra cash – one-third to pay off past debt, one-third to future investments like a savings account, and the last third can be used for a present purchase. This method is a healthy mix of saving and spending to keep you stable and content.
Frugal spending in no way means cutting out all shopping from your life; that wouldn’t be fair to anyone! However, there are so many ways you can spend your money wisely and avoid unnecessary expenses. Simple tweaks to your spending habits like buying discounted or sale items while shopping, or going for the bargain brands at the grocery store will go a long way. Other essential items like cleaning supplies and laundry detergent can even be found for much cheaper prices, like Rockin’ Green Soap products!
Add Yourself to Payroll
Each month, we must sit down and write out checks for all the bills to get played. One additional check that should be written is to yourself! It’s recommended that every month, or even every paycheck, you should set aside a percentage to an investment for the future. A good number is around six percent, but if you can manage to do more, that would be great.
Make a Budget
Making a budget for your finances is the first step to gaining some order when it comes to your spending and saving. Don’t try to create this budget all ine one sitting as you may leave things out or forget to include a certain item. The main aspects of creating an efficient budget are making sure to calculate all income, compare it to all expenses, and then plan accordingly on how you will be able to spend and save your money.
Written by Kim Webb, CEO and Founder of Rockin’ Green Soap
Finally it’s cool to be GREEN! Rockin’ Green is made for families that care about taking care of themselves and the Earth. As a mom Kim was fed up with the empty promises of “green” cleaning products that were not delivering what they promised… So she invented Rockin’ Green! We can all do our part for the environment while doing something good for ourselves. All of our organic cleaning products are biodegradable, and gluten and vegan friendly. They don’t contain phosphates, SLS, Parabens, or optical brighteners. All of our packaging is made from recycled materials.
Visit www.rockingreensoap.com for more information.
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