Investing and Global Finance News

Savings Advice for the Uncertain Future

Endless economic turmoil, deepening employment concerns and inconsistent outlooks have left the masses scrambling for saving solutions and smart investment ideas.

Though there is no single answer, many finance-focused companies have begun offering advice and information both on personal and public levels. For example, Primerica, a financial services marketing organization, recently released a list of ways to ‘find money to save’ during these rough times.

They suggest several parallel approaches:

  1. Put aside your loose change each day. Saving just $1 a day will yield you $365 in a year!
  2. Cut your phone bills. For less than $10, you can buy a prepaid cell phone and pay only by the minute. Cancel your land line (unless you have medical issues that may require emergency calls).
  3. Dodge unnecessary fees. Avoid bouncing checks, overdraft and ATM fees. The $20-$40 you normally spend each month could save you $240 to $480 each year!
  4. Bring lunch to work. Spend $2 a day on making lunch at home instead of eating out for $5 a day, and you’ve saved $780 in one year.
  5. Track your spending. You might not realize where your money is going. Keep a receipt for everything you spend in one month. At the end of the month, separate them into categories. Where can you trim excess spending? Usual suspects: entertainment and dining out.

-Amy Wilson, AskPrimerica.com

 

 

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