Are you looking to turn the money ship around in 2017? Who isn't? Even budgeting pros need to develop good habits sometimes. So let's talk about six money habits you can develop now.
1. Do a budget audit
I think this is great to do every year or every few months. Look at your budget and see what is not working for you anymore. Different seasons mean you might need different things.
What are some things that need to be added to your budget? What needs to be taken out? What are some things you can cut? Where are you overspending? Where do you need to allocate more funds?
As these questions and see where changes need to be made.
2. Reconcile your bank statement
Okay, this sounds like I am telling you to balance your checkbook. But I'm not. Yes, you need to balance your checkbook. But reconciling your statement means you go through and look line by line and see where you're spending money. You can see where you're wasting money and look for any mistakes.
3. Reconcile your credit card statement
I know. I am talking about credit cards. GASP. Okay, calm down. It's easy if you have a credit card it can be easy to lose track of how much you're spending. Sit down each week or month and go through your statement line by line. See where you're spending and where you can cut back.
4. Reconsider your loyalty
What is your bank offering you? If they're not offering competitive interest rate or services you need, take your money elsewhere.
Look at other areas where your loyalty lies, like cable and internet providers (if you have a choice, we don't) insurance companies and other service providers. If you can get a better price elsewhere, take your business elsewhere.
5. Shop with a grocery list
Want to save about $25 a week? Hope with a list. If you don't use a list, you will end up buying things you don't need or not buying things you do need and then repeating the process over and over and over again. Just jotting down a simple list you can save at least $25 a week (or $1,300 a year!!).