Use These Tips To Maximize Your Savings In 2015
Many Americans set finance-related resolutions as a top priority in the New Year, and one in six of them report that building or bolstering their savings is their top financial goal in the coming year. To help you grow your savings account in 2015, use these tips:
- Strengthen Your Emergency Account: Building an emergency account is key to staying financially healthy no matter what life brings, yet the majority of Americans do not have sufficient savings for an emergency account. Start setting aside a small amount each month to create an emergency account that totals at least three month’s expenses.
- Avoid Unnecessary Fees, And Find Perks: If you have been using the same savings and checking accounts and credit cards for years, you may be missing out on savings or—worse yet—paying unnecessary fees. Shop around for free checking accounts, and look for credit cards that will offer cash back or other perks.
- Get A Clear Picture: If you have not yet tried tracking your spending to get an idea of where your money is going and where you can cut costs to bolster your savings, start now. You can use free online software to easily keep an eye on where your money goes. Just a couple of months of tracking your spending should give you a clear picture of your spending habits and where you can make changes to boost your financial health.
If you have been saving for a down payment to get into your dream home, contact Andraya Coulter for all of your Bay Area home buying needs. As a home lending expert in Northern California, I am here to help guide you through the mortgage process. Call me today!