Tips Tuesday: How to Save Money With Budgeting

Saving money is challenging, especially when you don’t know where to begin. Follow these simple tips to start implementing a budget and save money.

  1. Keep track of your expenses. Frivolous spending can add up, so start keeping  a spending history of all your purchases. This will make it easier to see where you should cut back on spending.
  2. Make a budget. Your budget should account for monthly expenses in comparison to your income. After subtracting necessary bills, factor in a certain amount for “extra” spending. If you follow the budget, your savings will grow.
  3. Choose something to save for. This can be an emergency fund, a vacation, or retirement. It’ll be easier to save money with a goal in mind.
  4. Utilize available tools. For short term savings, banks offer high-yield saving accounts, bank money market savings account, and certificates of deposit. For long term savings, look into IRAs, stocks, and mutual funds.
  5. Check your progress monthly. By keeping track of your records and holding yourself accountable, you’ll be better able to reach your savings goals.

Tips Tuesday: Getting the Most Out of Your Tax Return

April showers bring May flowers, but April also brings the dreaded annual tax filing. Follow these simple tips to get the most out of your tax returns this year!

  1. File as early as possible.
  2. Don’t take the standard deduction if you can itemize. Additional expenses like charitable contributions may make you eligible for this.
  3. Claim your friend or relative if you’ve been supporting them.
  4. Take above-the-line deductions if you are eligible. These deductions would include paying student loan interest, contributing to your IRA, etc.
  5. If you contributed to your retirement, you are eligible for a tax deduction.

For more information, go to http://www.investopedia.com/financial-edge/0312/how-to-get-the-most-money-back-on-your-tax-return.aspx.

Tips Tuesday: Spring Time Savings

Out with the old and in with the new, springtime is quickly approaching! Follow these simple spring money saving tips to get the most out of your dollar this season.

  1. Now that the roughest part of winter is behind us, winter gear will be greatly marked down in price. Prepare for next year now!
  2. Frozen foods often go on sale in the spring to get rid of excess. Stock up on frozen foods that you’ll be able to keep for long periods of time while it’s cheap.
  3. Before utilities sky rocket in the summer, fix any household issues in the spring. Patching up the insulation or the roof will you save in the summer!
  4. With spring comes spring cleaning. Instead of buying expensive cleaners, opt out for DIY cleaners instead. https://www.popsugar.com/smart-living/DIY-Cleaning-Products-28901279 has plenty of information on creating your own money-friendly cleaners!

Tips Tuesday: Spring Cleaning

As the weather looks up and the days become longer, the tradition of spring cleaning is fast approaching. Follow these simple tips to save money while keeping your home remarkably clean!

  1. Cut sponges and cleaning pads in half- you will certainly extend their lifetime.
  2. Need to remove grime and grout from the bathroom or kitchen? Look no further than your tool box! Utilize a screwdriver or plastic putty knife to get the job done.
  3. Use a wet sponge to quickly and easily remove pet hair from furniture.
  4. Also, a wet sock worn like a glove will be able to quickly remove the dust that has accumulated on your plants!
  5. Dump a pot of boiling water down drains weekly. This will cut through buildup and save you from buying expensive drain cleaners.

Happy cleaning!