Money Management Minute is a financial health public service announcement series airing on KCBX, KVEC, KKJG and KSTT this holiday season. In case you missed it, check out these handy tips:
Look Out for Psychological Tricks
Do you know some sales are designed with psychological tricks to compel us to shop and buy? It is so easy to get caught up in the game of saving a dollar. It’s better to stop and think — is this item something you’re actually going to use? Learn more »
Make Practice Payments
If you’re planning on a major purchase soon, make practice payments to your savings account for a few months. If you can do that comfortably, you can be confident in your purchase. If this strains your budget, you might need to adjust your budget, build up a bigger down payment, or pursue an option in a lower price range. For more tips on planning for major purchases, schedule a phone call with a SESLOC Money Coach.
Maintain a Budget
Maintaining your budget means tracking your expenses and taking an ongoing, honest look at your spending habits. It’s easy to overlook and excuse small purchases, but those can add up quickly. Learn more »
Shop With a List
Trying to save money at the grocery store? Plan ahead with a list and budget and be aware of those impulse buys you weren’t planning for when you went to the store. An extra $10 in your cart every week adds up to $520 each year. Learn more »
Do you know that good, consistent and honest communication is the key to combined finances? Set “money dates” with your partner to regularly check in on the state of your finances. Learn more »
Planning for Retirement
Do you know it’s never too early to start saving for retirement — time is the secret to making your money grow, thanks to compounding interest. For more tips on planning for retirement, schedule a phone call with a SESLOC Money Coach.
Tracking day-to-day spending puts you in control of your money by identifying unsuspected spending leaks that can damage even the most well-planned budget. Learn more »
Planning on buying gift cards for the gift-giving season? Follow these tips: only buy from sources you trust, inspect the packaging for tampering, keep the receipt and treat it like cash. Buying gift cards from second-hand or auction sites might seem like an easy way to catch a bargain, but it’s also very risky. Scammers often sell counterfeit or stolen gift cards on these sites. Instead, buy from sources you trust, like the store it’s intended for. For more tips on planning for the holiday season, schedule a phone call with a SESLOC Money Coach.
Flexible Spending Accounts (FSA)
A flexible spending account, or FSA, is an employer benefit that saves pre-tax dollars to pay for eligible medical expenses. FSA’s expire annually and are use-it-or-lose-it, so check your balance today. There’s still time to schedule an appointment or stock up on eligible medical supplies. For more tips on planning, schedule a phone call with a SESLOC Money Coach.