To “live within your means” is to spend less than you make in a given period. For most people, this is easier said than done. Continue reading to discover the warning signs, and learn simple ways you can correct the problem!
You stress about paying bills. No one likes paying bills, but it’s a necessary part of life. Instead of losing sleep over your financial woes, you should take a step back and review your monthly budget and spending habits. Your bills should be fixed into your budget, and you should be able to pay them easily without any stress involved.
In addition, you should cancel subscriptions that you never use, cut down on your impulse purchases, and start bringing your own lunch to work instead of eating out.
You’re carrying a large credit card balance each month. While credit cards are a great way to earn rewards and pay for your emergency purchases, it can be easy to fall into the spending trap. It’s even easier to spend money when all that stands between you and an impulse purchase is a plastic card!
If you have an outstanding balance on one or more credit cards and you’re only paying the minimum payment each month, there’s a chance that you’ll end up carrying this balance for years, while paying hundreds of dollars (or more!) in interest. Meet with a SeaComm representative today, to discuss consolidation options that will best fit your financial lifestyle. Don’t have time to stop by? Give us a call at 800-764-0566 and we would be glad to help you!
You don’t have emergency funds. When the “unexpected” occurs, it’s important to have a pool of money that you can dip into. Ideally, you’ll want to have an emergency fund to cover major unexpected expenses, like a job loss or a family emergency, and a separate fund for small expenses you can anticipate, like home repairs and sending your children to camp. Start building your funds now with a Regular Savings account, and put away as much as you possibly can each month!