If you have been trying to save but it’s not working, or you have a hard time sticking to your budget, there may be a few things you need to change. Here are four small expenses that could be draining your accounts without you realizing it.
Snacks
From time to time we all indulge in snacks. You might have a favorite coffee spot you go to each morning before work or a regular place for lunch. Even if you’re not purchasing expensive snacks and treats, the frequency of your spending will add up. Try to limit the amount of times you go out during the week. Bring your lunch to work or have a quick cup of coffee at home. Make this simple change and see how much more you save.
Sales
Discounts get people to the store. Whether it’s through ads online, or on television, when stores have their sales, people jump. The thought that you’re saving money makes it easier to purchase that item you think you need. Now, if this is an item you regularly shop for, like groceries, it’s a different story, but if this is an isolated purchase, think again. Sales happen throughout the year, so instead of buying now, save up and purchase later. Use the money you currently have for necessities.
Spa Day
It is perfectly alright to have a relaxing day at the spa, or salon, and indulge in some self-care once in a while. However, if this is a weekly occurrence, it’s probably chipping away at your budget. If you were to cut back and save these days for a special occasion, or even just once or twice a month, your wallet will definitely thank you.
Free Trial Ends
One of the ways subscription services gain subscribers is through free trials. These promotional periods can last anywhere from a week to a year. It’s the longer ones that can hurt you. You may have forgotten that you signed up during the trial period, and now you’ve got extra charges coming out of your account. Eliminate the services you can’t fit in to your budget, and set reminders if you sign up for a new one.
It’s important to budget for your future, so take the money you would have spent and open an Individual Retirement Account (IRA). An IRA with SeaComm allows you to save for retirement with tax-free growth! There are no monthly fees, no minimum balance requirements, and dividends are paid out on a monthly basis. Call us at (800) 764-0566 or visit your local SeaComm branch to open an IRA. Our goal is to help you reach yours!