All of us have one new year’s resolution or other. You may want to travel or lose weight or finish writing that novel. But almost all of us share a particular resolution: we’ve just got to make our money stretch farther. No matter who you are, you probably have some financial goal that’s just a little bit out of reach. If you’ve been feeling like this for awhile, maybe it’s time to actually achieve that goal. Here are some important ways you can stretch your money farther in 2017 even if you don’t earn anything extra.
Pay the Boring Stuff First
One of the best ways to make sure you have enough money at the end of the month (or whenever your pay cycle demands) is to always pay the boring stuff as soon as you are paid. This means your mortgage, your home equity loan, your bills, and especially your savings and investment allocations. If you wait to pay for these until after you’ve skimmed off the top of your paycheck for fun and frolic, you’ll almost certainly not be able to meet all of your financial obligations. It can take some discipline, but learning to always focus on what absolutely has to be paid first usually results in a much less stressful life.
Watch Out for Unnecessary Payments
Most people are paying for things they don’t realize they’re paying for. If this seems like a strange statement to you, here are some everyday examples. Payment protection insurance is a form of insurance that was fraudulently sold to consumers all over Great Britain. It happened because the agreements were buried deep within complex loan documents, and the borrowers didn’t even notice they were signing up for expensive insurance. There are other examples, such as the entertainment and delivery subscriptions so many of us have started to enjoy from Amazon and internet media providers. They’re fun, but if you forget about them, you’ll be paying for them forever without getting any benefit. Take a careful look at your financial statements and find these unnecessary payments.
Another item that many folks sign up for but can be unnecessary is short term disability insurance. Check out this article here about do I really need short term disability insurance to learn if you can eliminate this monthly expense.
Learn Expensive Skills
Look at the things that cost you the most money. Can you learn skills that could save you money in this way? If you love great food, don’t deprive yourself of it. Everybody needs a trip to a nice restaurant every now and again. But if you can learn to make amazing food at home, you can save a lot of money and have a great new skill at your fingertips. The same holds true for motorheads, beer lovers, and anyone else who has a hobby that could be performed in the comfort of your own house. Learn the ropes and save yourself a lot of money without having to sacrifice the thing you enjoy most.
3 Ways to Make Your Money Stretch Farther in 2017 – Final Thoughts
There are loads of ways to save money without having to earn more or change the way you live too much. Try these 3 ways to make your money stretch farther in 2017 out. We hope that you save lots of money this year for your life and your financial goals!