Thursday, August 15, 2019

Perform a Personal Audit: 3 Spending Habits That Could Save You Money Towards #retirement! #FinancialLiteracyMonth

 

-Paying for subscriptions to streaming, gyms, etc:

Too often, as consumers, we subscribe, give authorization to our bank accounts and forget about them and probably don't utilize the service, entertainment, etc. We need to grab our bank account statement and do a "personal audit!" Find those $5.99, $11.99 & $13.99 subscription obligations, and terminate them. Find alternatives to those streaming choices, cable bills, and other subtractions to money we could use towards our retirement.

-Purchasing things just because they are on sale:

Trips to the mall or outlet malls, might not always be a great idea. We see the word, "Sale" and think, why not? After all, it is on sale! Forgoing sale items and things we really do not need, and putting that money towards our retirement is another way to assist our retirement goals and watch compounding interest work to our advantage. 

-UTILIZE AUTOMATION (positively) & forget about it:

This is major! Normally, we can set automation for savings with our employer or banking institution, adjust our budget, and forget about the deduction. We can use that automated amount of money to be deducted and placed into savings, to help our retirement goals. Automation works to our advantage, as well to our disadvantage. Set it today!





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