Financial wellness is the ways wealth and income affect our emotional and physical well-being. In this tip, we will be discussing how to produce extra savings.
Are you having trouble with your savings goals? Track your spending.
If you’re having trouble hitting your saving goals, you may need to track your spending for a month to get a good idea of where the problem sits. Look for places to cut back. Have a good credit score? Great! Try reducing your credit card’s interest rate (call the customer service number listed on the back of your credit card. It’s best to know their competitors’ information and what you’re asking for. If they say no, don’t be afraid to be persistent and try again at a later time). Do you find yourself eating out a lot? Always picking up breakfast on the way to work and buying lunch midday? Even coffee adds up every morning. Cutting back on the amount you spend on food can help you save significantly.
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