Savings habits, spending smarter, money talk, financial dieting and more.
The Penny Hoarder — Lisa reports on a new survey that shows “thirty-one percent of respondents reported having six months or more of expenses tucked into an emergency fund.” While the number seems low, it certainly shows improvement from last year’s 28 percent.
Besides touting positive numbers, this post also provides tips on boosting your emergency fund. I like the first tip: “trick yourself into saving.” Read her post, find out how the trick works and discover more tips.
Money Manifesto — Lance’s wife graduated college $80,000 in student loan debt. He says the “debt was one of the best things that happened to us.” Sounds strange but makes sense. That $80,000 scared them senseless. They payed it off and, at the same time, learned how to spend smarter.
He breaks this blog into eight sections. The first section, “the basics of spending smarter,” teaches you how to track your spending. He explains in the last section why spending smarter isn’t difficult. I like this post. I can tell how seriously Lance takes this advice.
Making Sense of Cents — On a recent Facebook chat, Michelle’s friend asked other friends about how much money they saved each month. She wanted “real numbers” because she had just started saving herself. That didn’t go over very well.
Many friends became angry. One even commented that “sharing actual numbers is disgusting.” Michelle disagrees and convincingly argues why discussing money actually helps people with their finances. Read her post and let me know if you agree — then read this post about parents talking money instead of sex.
My Fab Finance — Tonya says that our daily lives are “already strapped for time” and adding on another goal isn’t appealing for most people. So she made this goal, reducing expenses, easy. The first way couldn’t get any easier, simply “unplug electronic devices that aren’t being used.”
The seventh way, making a grocery list, doesn’t take much effort either, but it sure helps cut your food bill. Once you combine all, or even half of these money-saving tips, you’ll notice the savings piling up. Then you can create an emergency fund or reduce credit card debt with the money.
The Dollar Stretcher — Cutting expenses and cutting pounds share many things. For example, Veronica says both require careful planning — but it’s “not the type of plan you choose, but rather, how committed you are to the plan that will determine your rate of success.”
I like the second one: “Educate Yourself.” Dieters must start learning about caloric intake, carbs, fats, new recipes and more. Financial dieters must learn about budgeting, money management, savings and debt relief strategies. Check out this post and then read more about saving money and losing weight.
Article last modified on July 11, 2017. Published by Debt.com, LLC .