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Cut Costs Without Cutting Fun
Posted By Small Business Editor On June 24, 2014 @ 10:30 am In Management | 3 Comments
Keeping track of expenses and putting money aside is challenging, but there are six easy tips employers and brokers should share with workers to help them become financially fit.
Toss unneeded financial records and create electronic or hard copy folders for easy storage.
Keep and review a record of your expenses to develop a good idea of where to cut back. This may help curb your impulses and control your credit charges, once you discover how quickly those small purchases add up.
Pay yourself first. Deposit a portion of your paycheck into a savings, credit union, or investment account.
Deposit extra money into a checking or savings account where it can possibly earn a return on investment for you. Additionally, you should consider opening or adding to an IRA or increasing your 401(k) contributions.
A financial safety net and voluntary insurance policies can help protect your family from expenses that can stem from unexpected illnesses or accidents.
Don’t forget to leave room in your budget for fun to make it easier to stick to your financial resolutions. Reward yourself with vacations and restaurant-outings that won’t break the bank.
This article is for informational purposes only and is not intended to be a solicitation.
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