Sometimes the difficult thing of money saving habit is just how you can start the habit itself. It is really very difficult to find out easy ways to save money and how you can use your savings to reach your financial goals. So, let’s discuss few basic tips that can help you to develop a realistic money savings habit.
The first step would be figuring out the amount of your spending. Keep track of all your expenses. This may include the cost of newspaper, coffee/snacks, etc. After getting the data, categorize them according to their total amount. You can use your credit card or bank statements as reference.
Once you have the idea of your monthly spending limit, you can execute a budget and try to fit your expenses into it. Apart from your monthly expenses, you must also consider expenses that occur often but not regularly. These may include car maintenance cost, home renovation, etc.
After planning the budget, try to put away 10–15 % of your income as savings. If you save money every day as well as reduce your fixed monthly expenses, very soon you’ll be able to build up a good saving habit.
Try to set a goal. You need a specific target for which you’ll cut off expenses and save money. Figure out how much time you need to save for it. If you need help figuring out a time frame.
These are some examples of short- and long-term goals:
Short-term (1–3 years)
Long-term (4+ years)
If you’re saving money for your child’s higher education and your retirement fund, then you may invest your money in IRA or a 529 plan. These investments might come come with risks but they also give you good, compounded returns if you plan properly.
Almost all banks offer automated transfers between your checking and savings accounts. You should decide the time, the amount , and the account where you’ll transfer the money to. You can also divide your income between your checking and savings accounts. Automated transfers are a great way today to save money as you don’t have to twice about separating money into two accounts manually.
Check your progress every month. Keep eyes on your checking and savings account. This will not only help you to stick to your savings plan but it also helps you identify and fix problems quickly.
These easy tips to save money will be very helpful to you and will inspire you to build a good money saving habit.
You might have finished back-to-school shopping for classroom supplies, uniforms, lunchbox, bedding etc, but have you done your child’s health issue? Your kids must start the new school year in good health.
So, let’s discuss some tips on your child’s eyesight, dental care, sleep, prevention for disease, safety, and other health oriented issue.
In a classroom session, 80% of learning is based on visual elements. So, your kid should have a clear vision before going back to school. An eyesight problem may still arise even if your kid has passed an eye screening test. So, before hitting the new session, you kid must need a comprehensive eye exam so that he or she can contribute the most of them.
The vaccination schedule can protect your kids from the different illness. Kids who suffer from allergies might get into trouble during school where dust mites, mold, and other allergens flourish in the classroom. Contagious illness spread from person to person through different mediums like air, water or from physical contact. Teens and young kids must get their vaccination as early as possible.
3. Dental health
Kids must follow good dental routine just as they do their school routine. Whenever they are, they must brush twice a day for two mins, at early morning and after the meal.
4. Bedtime routine
Kids have a tendency to skip proper sleep during summer. They also wake up late during that time because of the holidays. So, start shaking them up early morning, starting from today. Their school-time sleep routine must become their habit unless they’ll fall asleep during class. Don’t let them back into their summer schedule.
5. Hygiene issues
Seeing any excessive head scratching? Might be head lice. Ask your kids not to share combs, hats, and clothes with any other kids from the class. Do a visual check once a week for ticks. The most easier way to avoid catching germs and maintain hygiene is to encourage your kids to wash hands properly. Hand sanitizers work well if they can’t arrange soaps. Ask them not to use the same clothes every day, especially undergarments.