This month LSS employees are taking part in a financial challenge to improve our own financial wellness. We are supposed to do something at least 4 times each week that will contribute to improving our financial situation and/or knowledge.
Take a look at this list below for ideas to incorporate into your life:
Review your beneficiaries on retirement accounts
Skip morning coffee and save the money
Get a free copy of your credit report at AnnualCreditReport.com
Increase your 403B contribution
Review your health insurance plan to understand your out of pocket expenses
Pack your lunch instead of dining out
Open a savings account for you or your child
Review your interest rate on your credit card statements
Read a blog post about personal finance on Sense and Centsibility
Start saving for a planned event in the future
Take steps to create a will or review your will
Review your potential future Social Security Benefits
Start tracking expenses
Try a generic item instead of a ‘name brand’ of a product you typically purchase
Go a week with charging anything on a credit card or if you do charge something, pay it off right away
Review your cell phone bill
Pay extra on a loan or credit card
Start using coupons
Plan a garage sale or sell extra items online
While eating out, drink water instead of purchasing a beverage and save the money
Contact your utility company or visit their website for money saving energy tips
Start saving money in a jar
Look for free classes through your local community education program
Take a walk instead of a drive
Setup auto-payments for recurring bills
Attend a free financial counseling session to set up a budget and create a plan to pay off debt
Open a savings account to cover potential future medical expenses
Go one day without spending any money
If you are carrying a balance on your credit card review the box on your statement that shows how long it will take to pay off if you are only paying the minimum payment.
Review your insurance policies
Enjoy a day with the family or date on the cheap
Many of these are things you could do almost every day to help save money or to stop charging/spending money.
Are YOU up for the challenge? Try it and track it for a month. You’ll be surprised what you learn and how much money you can save by making a couple small changes in your spending habits. And think about someone you could share the experience with. Challenge a friend or co-worker to skip the coffee shop or eating out for lunch and bring your coffee and lunches from home. Then see how much money you can both save!
Since 1987, LSS Financial Counseling has been helping people achieve financial goals and conquer debt.