Finance Tips to Live By in 2022
Are you looking for ways to improve your personal finances? How much does being frugal mean to you? What makes you feel like a millionaire?
Being frugal or saving money isn’t always the easiest thing to do. In our day and age where every purchase seems to be an impulse buy, many people struggle to cut back on their spending.
So, why don’t you start off by learning some simple ways that you can save money and live within your means. That way, you’ll never run out of cash at home. Below are some finance tips we swear by.
Finance Tips To Live By
1. Cut Back On Cable TV
Cable television has changed quite drastically over time. But one thing hasn’t: watching reruns of your favorite shows. The cost of cable is outrageous nowadays – but it doesn’t have to be. You can still get most of what you want from streaming services such as Hulu or Netflix. Even better? Many local networks offer free live-streaming options online.
2. Get Rid Of Your Credit Card Bill
Credit cards have become commonplace since they were first introduced into society. They make life so easy by letting us rack up points and interest right away, without having to wait until the end of each billing cycle.
The problem is that credit card bills aren’t necessary anymore. We now have debit cards, which let us spend money instantaneously, and cash instead of checks, which can take weeks to clear after we receive them. So, how about getting rid of those monthly statements altogether?
You could opt to use digital wallets such as Apple Pay or Google Wallet instead. Or, you could even rely on a bank to send you a text message once you hit a certain balance.
3. Shop Around For Insurance Prices
Health insurance prices vary massively across different providers. While Blue Cross and Cigna might seem like good value, United Healthcare costs less by comparison.
For this reason, it’s best to shop around for health insurance before making any big purchases. Not only will you find cheaper rates, but you’ll also be able to compare benefits such as copays versus coinsurance ratios and deductibles.
To help you find the lowest rate, try visiting sites such as Compare Health Insurance Rates and Insure.com. Also, keep in mind that these websites won’t tell you exactly what your insurer plans to charge; ask to see the full contract first.
4. Keep A Budget & Track Spending
Tracking expenses is essential if you want to know where all your money goes. It’s important to note that keeping an accurate budget takes discipline and effort. But with a little bit of planning and commitment, creating your accounting system is well worth the trouble.
It’s common knowledge that Americans spend far more than we earn. And sometimes, we end up taking out loans just to pay the bills. However, tracking your spending habits helps you plan in advance rather than react when you’re in debt.
