Personal Finance Tips

Use these money saving tips to brainstorm the best ways to save in your everyday life. 1. Eliminate your debt If you are trying to save money through a budget but still carry a lot of debt, start with debt. Not convinced? Add up how much you spend per month on debt support and you'll quickly find out. Once you are free to pay interest on your debt, that money can easily be saved. A personal line of credit is only an option to consolidate the debt, to be able to pay it better. 2. Set savings goals One of the best ways to save money is by visualizing what you are saving for. If you need motivation, set savings goals with a timeline to facilitate savings. Want to buy a home in three years with a 20 percent down payment? You now have a goal and you know how much you will have to save to reach your goal.Use Regions Savings Calculators To reach your goal! Here 3. Pay yourself first Set up an automatic debit from your checking account to your savings account each payday. Whether it's $ 50 every two weeks or $ 500, don't be fooled by a healthy long-term savings plan. Savebly 4. Stop smoking No, it's not really easy to quit smoking, but if you smoke a pack and a half a day, it means about $ 3,000 a year that you could save if you quit. According to the Centers for Disease Control and Prevention, the percentage of Americans who smoke cigarettes is now below 20 percent for the first time since at least the mid-1960s - join the club! 5. Take a vacation at home Although it may sound biased, the idea behind it is solid: Instead of spending several thousand on plane tickets, look at your own backyard for a fun vacation close to home. If you can't drive, look for cheap flights in your region. 6. Spend to save Let's face it, it is unusual for electricity costs to drop over time, so take charge now and heat your home. Call your electric company and request an energy audit or find a certified contractor who can perform an energy use review for your entire home. This can range from simple upgrades like sealing windows and doors to installing new insulation, siding, or high-efficiency appliances and products.ENERGY STAR. You can save a lot of money on electricity costs over time. source 7. Savings in electricity By lowering the thermostat on your water heater by 10 ° F, you can save 3 to 5 percent on energy costs. And installing an on-demand or tankless water heater can save up to 30 percent compared to a standard storage tank water heater. here 8. Pack your lunch An obvious tip for saving money is to find everyday savings. If buying lunch at work costs $ 7, but taking it from home costs only $ 2, over the course of a year you can create an emergency fund of $ 1,250 or make a significant contribution to a college or retirement fund click here 9. Create an interest-bearing account For most of us, having savings separate from our checking account can help reduce the tendency to withdraw funds from those savings from time to time. If your goals are longer term, consider products with higher rates of return, such as a Regions CD or one Regions Money Market account to enjoy even greater savings. 10. Annualize your expenses Do you spend $ 20 a week on snacks at the vending machine in your office? That means $ 1,000 you're taking out of your soda and snack budget each year. Suddenly, that habit turns into a hefty sum. Open a checking account onlinetoday. Do you need help deciding? We can help youto find the appropriate account for you.