A lot of people have set goals to better manage their money in 2015. But it can be difficult to figure out how to get started. Well, we have just the thing! This week, TaxACT hosted a blog tour where experts could share their #HowISave stories. We learned a ton from reading these blogs - everything from cutting costs when traveling to setting up a solid budget! Check out our 5 favorite money-saving posts for how to get your finances in check in the new year!
The College Investor is a definite proponent of front loading during your 20s and 30s, which means keeping your expenses low, increasing your income, and starting to invest. He recommends doing this by living below your means, creating multiple streams of income, and investing any money that doesn’t go into savings. By doing these things, you can start to create a financially comfortable life for yourself!
There are several things you can do to cut costs on your next vacation, according to Planting Money Seeds. You can snag some great deals by taking advantage of credit card rewards, other loyalty programs, and deducting your trip from your taxes if your travel is for business purposes. Just pay attention to ways you can save on flight and hotels through special programs from places like Orbitz or Marriott hotels.
One of the best ways to actually see your savings is by visualizing it - which makes this post from Budgets Are Sexy super helpful. His post includes pictures of some of the ways he saves money, like by driving an older car, buying discounted clothing, using coupon codes (which of course we’re fans of!), and saving spare change. These might seem like small things to try initially, but the savings will definitely add up in the end!
Money Under 30’s David Weliver admits he’s not a natural money-saver - it doesn’t come easy for everyone! So, he suggests a couple of things you can do to save more money. One recommendation is to create a bank account buffer, which is an amount equal to half of your average monthly expenses to include in your checking account. This extra padding helps keep you safe from unexpected expenses so you don’t have to overdraw. He also recommends setting up automatic transfers from your checking to savings account, so there’s constantly some money flow into your savings. These tasks can help you make sure that your accounts are balanced!
There are plenty of little things you can try in order to stick to your budget. Making Sense of Cents is planning on cutting back on clothes shopping, getting rid of cable, earning more credit card rewards, and doing meal planning to help save some more money during the new year. Being aware of exactly where your money is going can be a great tool for better managing your money!