As we close out 2017 and move into the New Year, it's as important as ever to know how to save money. It's in our best interest to keep our finances intact so that we can pay bills, cover debts, and perhaps make even more money from our jobs. There are many ways to accomplish these goals and many others. Here are 4 of the most useful financial pointers for 2018, courtesy of Robert Jain and other financial minds.
When it comes to saving money - and names in finance such as Bob Jain will agree - your budget plays a major role. Look at what your paycheck is going to and see if costs can be adjusted. Are you spending too much on electricity, for example? Do you feel like more money can be allocated to other utilities? These are just a few questions to ask when evaluating your budget, but understand that this is a great opportunity to save money in 2018.
What about insurance, whether in terms of life, health, or what have you? While you might be happy with your current plan, there's a possibility that other plans exist that offer the same service at lower costs. Given the premiums associated with insurance, it's no wonder why employers and employees alike will keep their eyes open for other opportunities. The better your insurance is, from a financial standpoint, the more money you can save in 2018.
You should also think about developing an emergency fund that can be used if a serious situation arises. Let's say that, for the sake of argument, that you have to take an extended leave of absence from work due to a family crisis. Chances are that it will cost you money, which is where an emergency fund can be used. You can use the money you've saved over the course of several months, if not years, instead of having to rely solely on your checking account. Needless to say, this will help in the financial sense.
Finally, if you're serious about getting a hold of your financial situation in 2018, consider shopping with care. There are many ways that you can save money, even beyond the coupons that one finds in a circular. For example, if you use a retailer's mobile app, you might be able to use exclusive deals that you wouldn't have otherwise. While the money saved from these deals may not seem like much, they make a considerable difference in the long run.
When it comes to saving money - and names in finance such as Bob Jain will agree - your budget plays a major role. Look at what your paycheck is going to and see if costs can be adjusted. Are you spending too much on electricity, for example? Do you feel like more money can be allocated to other utilities? These are just a few questions to ask when evaluating your budget, but understand that this is a great opportunity to save money in 2018.
What about insurance, whether in terms of life, health, or what have you? While you might be happy with your current plan, there's a possibility that other plans exist that offer the same service at lower costs. Given the premiums associated with insurance, it's no wonder why employers and employees alike will keep their eyes open for other opportunities. The better your insurance is, from a financial standpoint, the more money you can save in 2018.
You should also think about developing an emergency fund that can be used if a serious situation arises. Let's say that, for the sake of argument, that you have to take an extended leave of absence from work due to a family crisis. Chances are that it will cost you money, which is where an emergency fund can be used. You can use the money you've saved over the course of several months, if not years, instead of having to rely solely on your checking account. Needless to say, this will help in the financial sense.
Finally, if you're serious about getting a hold of your financial situation in 2018, consider shopping with care. There are many ways that you can save money, even beyond the coupons that one finds in a circular. For example, if you use a retailer's mobile app, you might be able to use exclusive deals that you wouldn't have otherwise. While the money saved from these deals may not seem like much, they make a considerable difference in the long run.
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