Get Money Smart in 8 Ways
Updated: Nov 4, 2022
This week on the blog...
Getting your finances back on track after the pandemic is quite hard these days as inflation continues to rise (ugh!).. Cutting expenses and saving money has become more challenging as inflation's negative effects on the economy have increased. Is global inflation truly an inevitable phenomenon? How can you improve your current financial situation effectively during this crisis?
Here are a few ways you can get smarter with money in 2022:
1. Buy needs, reduce excess wants
Prioritize spending habits by effectively budgeting for both wants and needs. Self-control in overspending on wants is extremely helpful when managing your budget
2. Spend less at restaurants
I’m not saying don’t go, but you can find happy hours, specials, and make your dollar go as far as it can! Follow your favorite restaurants on social media and watch out for online promos and special deals.
3. Prepare a shopping list to avoid impulsive buying
Use the 24 hour rule. You don’t want it 24 hours later, don’t buy it.
4. Limit your online shopping
Tough, I know, but until you are settled into a nice comfy budget, watch the “add to cart” button
5. Join memberships and loyalty programs to get discount and cashback coupons
There are tons online! Google it, based on your area, and you can get cash back with lots of buys!
6. Reduce gas and energy consumption
Pay attention to the energy bills, carpool if you can – enjoy activities around the house to reduce gas!
7. Limit liabilities and avoid getting into unnecessary debts
A must do in times of high inflation AND rising interest rates. Do not turn to debt right now if you can help it, wait until interest rates level out.
8. Get help when you need it
Hello, hi! I am here for you. If you want to come up with a personalized plan, I have coaching sessions open so we can create your best (no cut) budget, get you on the right track with saving, and create a solid plan to grow wealth.
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