| Congratulations - you are on your way! You've | | | | disadvantages to what they are offering and how it is |
| acknowledged that you want to save and are willing | | | | paid. Sometimes quotes are hard to compare because |
| to look at the challenges and the benefits. The first | | | | of how the information is presented. Talk with an |
| step is creating a savings plan that is realistic and not | | | | agent you trust. Get advice and help from someone |
| so complicated or difficult that discouragement will | | | | knowledgeable before you sign up. |
| sabotage your efforts. Here are 10 proven tips to | | | | 9. Credit Cards Use Credit Cards cautiously. Although |
| make savings a reality for you today. | | | | they can be very convenient, credit cards are |
| Creating a specific plan that fits you and your family"s | | | | dangerous and damaging when used unwisely. Try to |
| situation is the only way you can make saving work | | | | use them only when you absolutely have to. They |
| for you. | | | | tend to tempt us into impulse buying just because they |
| | | | make a purchase in a store or on line so easy. Yet if |
| 1. Plan your "trips" | | | | you are not paying your accounts off in full every |
| 2. - a. The grocery store - make a list and stick with it. | | | | month you are setting yourself up for a financial |
| Plan your meals in advance so that you don't end up | | | | disaster. When a payment is made at the minimum |
| forgetting ingredients and making extra trips to the | | | | amount due, you basically will be paying interest and |
| store. Studies show that if you go to the store for one | | | | not on the principal amount due. At that rate it will take |
| item, you will come home with several not on your list. | | | | 20 or more years to pay the item off and you've paid |
| Consider this and plan your trips with a list in hand. | | | | for it many times over. |
| 3. - b. Vacations - research and plan in advance. Look | | | | 10. Keep Track Understand where your money goes. |
| online for the best travel deals on flights, rental cars | | | | Keep a record of spending and saving. Overtime it will |
| and hotel. Packages often offer better deals because | | | | be worth the effort. As you watch your success, you |
| everything is included. Some resorts offer meal plans | | | | will be more encouraged to keep going. Your |
| as well, with coupons for particular restaurants. | | | | successes become contagious. By not purchasing a |
| Reduce impulsive spending by planning "spending | | | | latte every day at $2.75 you soon will save enough to |
| allowances" into the overall plan. Give each child a | | | | buy that pair of shoes or that tool you've been |
| dollar amount to spend on themselves - their choice. | | | | wanting. |
| Once spent it is gone. | | | | 11. Trimming When you've been keeping track of your |
| 4. - c. Mall Shopping - have a specific purpose that you | | | | spending for a couple of months You can then |
| are going for. Keep a running list of items you will be | | | | analyze your spending habits. It may surprise you |
| needing in the future and watch for the sales. Only | | | | when you look back at your records to find how much |
| shop when your item appears on sale. It is amazing to | | | | you've spent on certain items. It is easier to see some |
| me the number of people that use a shopping mall as | | | | obvious cuts that you can make and you can adjust |
| recreation. Once there they are tempted to spend on | | | | some spending habits. Depending on how much extra |
| all kinds of attractive things. Only go to a mall when | | | | you want to save, this will also allow you to make |
| you have a specific purchase in mind. Keep your item | | | | some difficult decisions. Think about your priorities, and |
| in mind and the amount you are willing to spend. | | | | make cuts you can live with. By calculating how much |
| 5. Make Lists What are the 10 most important things in | | | | those cuts will save you over a year, you'll be much |
| your life? Create a list and rank itmes in order of | | | | more motivated to skip them and tighten your belt. |
| importance. This list will help you see the things you | | | | 12. Pay Yourself First Make saving your top priority. |
| consider the most and least important in your life | | | | Make savings your first bill to be paid. Consider |
| providing you and your family with a visual of what | | | | charging yourself a "late fee"! You are worth every |
| your savings are for. Some of the things that might | | | | penny of it! If you put it off until the last thing - there |
| appear on your list: -Buying patio furniture -Buying new | | | | won't be anything left. Deposit savings into an account |
| tires -Repairing the roof -Purchasing a new computer | | | | as soon as you get paid. An easy, effective way to |
| -Buying a new home -Getting a new car -Taking a trip | | | | start saving is to simple deposit 10% of every |
| -Planning for school expenses -Starting an emergency | | | | paycheck in a savings account. Create a "No Touch" |
| fund -Paying off debt -Purchasing new appliances | | | | account that you will not use except for that rare |
| -Buying new running shoes You get the idea. A list will | | | | emergency that you hope never comes! |
| help keep you focused. When you go off track it is | | | | 13. Cook at Home Cooking meals at home is generally |
| possible to quickly take another look at your list, | | | | a better choice for the budget conscious and even |
| perhaps revise your goals and adjust your savings | | | | more so when planned and shopped for in advance. |
| plan. | | | | Stock your cupboard with often used ingredients |
| 6. Setting Goals So how do you determine your | | | | purchased when on sale. Shop the weekly sales when |
| goals? By looking at the list just created, you can | | | | making up menus. Make that list and become creative |
| break your goals into short-term, intermediate-term, | | | | with meal preparation. If time is an issue, prepare meals |
| and long-term goals. Once you have this decided you | | | | in advance and freeze them, pulling items out for that |
| can allocate amounts to save into each "account". | | | | night to be micro waved in no time at all. Dining out is |
| Having short term goals to work towards while still | | | | fun and convenient, but it's not always as healthy and |
| focusing on long term goals provides meaningful | | | | definitely not as economical. Cooking at home |
| rewards that are great motivators to hang in there for | | | | becomes even better when you get the whole family |
| the long term goals. Knowing you can achieve smaller | | | | evolved by taking turns cooking, trying new recipes, or |
| goals encourages you to continue towards the longer | | | | having everyone contribute a dish. "Fast Food" meals |
| goals. By getting your saving plan into a routine you'll | | | | are contributing to our nation's obesity. The choices |
| discover it's really not that hard to save. | | | | they offer, though they may seem like time savers, |
| 7. Be Flexible Even after you've set your goals for | | | | are not healthy choices for adults and children alike. By |
| saving and you are "working your plan" consistently be | | | | preparing meals at home you have control over the |
| ready for those things that can and will change. Build in | | | | contents of the food and the health of your family. A |
| the possibility of needing to be flexible. Emergencies | | | | good reminder - Do not go shopping while hungry. |
| and unexpected circumstances will require a dip into | | | | While saving money may require investigative skills, |
| those savings. This could be discouraging if you are | | | | determination, and creativity, once you establish the |
| not mentally prepared for it. Continue to contribute to | | | | habit of saving money, you will feel better about |
| your savings any amount possible for that period to | | | | yourself and enjoy life much more. When you are |
| keep you on track and focused on the bigger goal. | | | | achieving your goals and in control of your money and |
| The saving habit momentum is the key. Get right back | | | | no longer have debt hanging over your head, you feel |
| in the game. | | | | a freedom that can't be described. You deserve to |
| 8. Insurance Whether it is health, vehicle, life, rental or | | | | experience the abundance that belongs to us all. Stick |
| home, insurance can be very expensive and confusing. | | | | to your plan, track your progress and provide |
| It pays to shop around and negotiate. Compare | | | | meaningful rewards along the way. Do it one step at a |
| different companies and learn the advantages and | | | | time. Start saving today. |