Many of us are getting ready whine down for the end of year and start planning some new goals for next year. Many of us say what should our goals be. The top three are usually getting healthy, getting out debt and the third is to quit smoking.
We pick these goals every year and do we succeed at them? Majority of the time we do not! Ever wonder why not! Stress factors, time and lack commitment we lack in or understanding how to implement the process. Lack of determination and last but most important is boredom sets in. The average American savings account is at the bottom of the to do list and it really should be towards the top. Good financial planning helps keep strong mind, good mental outlook, a lot less worry and overall better health. Majority of us want to skip to steps to get the bigger payout but by doing this we hit pot roads and bumps along the way which take more of our hard earn money than we think.
First of all think of all bank overdraft fees per year we give the bank. Majority of people usually over dip there account at least three times per year. Yes, banks have over draft protection for there customers but what happens when saving account get depleted. Do the banks let the customer know they are getting low in there account only if you have a computer and can get online. What about those folks who do not have a computer do the banks send out a note saying they are getting low? No they get letter in mail that there check bounced and charged on average $30.00 fee if not more that is per each that bounces. yes, people get bank statement’s at then end of month and how many actually look at it at the end of the month? Probably not too many or even keep a bank statement book where you write down each you send out and how much and how much is your checking account or savings account.
Here are top three resolutions with this money saving plan that will help you realize it for less!
Resolution Number One:Getting healthy!Thinking of joining a gym? Before you sign up check with your employer or health plan because many have negotiated special discount rates at selected gyms which will therefore help score instant savings. While it may sound counter intuitive paying as you go (an option available at many gyms) can be more money wise than signing up for the full membership especially if you find you do like machines or how the gym is operated or the people. Proof is based on the number of trips to the gym folks pay more per visit under a contract than they would if they paid for each session individually. Here is another way thinking about it do you wish you get your money back if you are sick and had family emergency where you could not get to that gym!
Resolution number two: Getting out of Debt! You already know the first step is getting an idea of current spending. But if tracking every nickel and dime seems too daunting then try this solution. Ask your credit card company for a free end of year statement it will show or breakdown of where most of your money goes. The next step is building a budget, which, thanks to free and secure websites it is easier than ever. Here are few websites you sign up for Mint.com, Wesabe.com to make a money plan. Prefer in person advice? Check your library fro free seminars or contact the Financial Planning Association (FPANET.org). The group local chapters offer community outreach programs.
Resolutions number three: You guess it quit smoking! Want to put out those cigarettes for good? You can find help for free! Simply contact your local health department (find yours CDC.gov/mmwr/international/reres.html). Many gladly supply stop smoking plans and advice and some even provide nicotine patches for free! You can also get free advice from the American Cancer Society at Cancer.org and sign up for the Quitline which provides coaching over the phone. Need a little extra motivation? see how much money you will save from not smoking by placing the money you used normally spend on cigarettes in a glass jar. The visible reminder will keep you going!