What is one thing people could do for their money that takes a relatively small effort but has big results?
Here’s what our planners said:
‘Embracing my inner planner here, but planning ahead for big-ticket items like vacations or new cars. Mapping out the upcoming few years truly brings clarity to how a new car payment might impact college savings, and whether that’s a trade-off I’m willing to make. It’s a small effort that pays off big by helping strike a balance between spending and saving.”
‘Pay yourself first. When your paycheck arrives, peel off a chunk and throw it into savings. This will help prevent you from maybe spending it on something you might not need!’
“A high yield savings account! While it’s convenient to have all your bank accounts in one place, adding a high yield savings account to the mix can really pay off. A high yield savings account should be FDIC insured and free, with the majority being online only. While you can’t visit a local branch, you can enjoy the significantly higher interest rates that really add up.”
There you have it. Is understanding how to leverage your financial situation more effectively a priority this year? Then I recommend you chat with us sooner than later… you can find out more about that here.
