My Forsyth_March 2021

Brilliant Ways You
5Can Save Money
By Chrissy Knepshield
FORGET CLIPPING COUPONS, SHOPPING CLEARANCE BINS, OR EVEN GOING ON A SPENDING
FREEZE. THESE MAY BE FRUGAL WAYS TO SAVE SOME MONEY, BUT IF YOU WANT TO SAVE
SERIOUS CASH, YOU NEED TO CHECK OUT THESE TRIED AND TRUE METHODS.
1. GET ON A BUDGET!
I know, I know, I know. “Who has time to budget?” you ask. And my
question back to you would be, “Who doesn’t have time to budget?”
With the countless apps and budgeting tools available on the internet,
you are bound to find something that works for you.
The thing about a budget is that it shows you how much you earn
and how much you spend weekly, bi-weekly, or monthly. A budget takes
the guesswork out of personal finance. Using a budget will allow you to
give, save, and spend within your means.
2. PAY YOURSELF FIRST
The best way to build wealth is to pay yourself first. Sadly, most people
pay themselves last. When you make a habit out of paying yourself first,
you learn to live on less than you make and place a cushion between
you and life’s emergencies.
One way to determine how much to pay yourself can be percentagebased.
A budget will show you how much you are making, and based
on that number, you can put away 10%,15%, or even 20% of your
monthly net income into savings and Investments. Be sure to figure
out living expenses as well so that you do not go overbudget.
3. AUTOMATE YOUR BILL PAY
Many companies make it easy for you to pay your bills on time and
online. They receive your payment by the due date, and you avoid
a late fee. You can set up automatic bill pay through your service
providers by visiting their company website or calling their business
customer service.
By automating monthly bill payments, you save both time and
money. You avoid paying postage and writing out a check. When you
automate paying your monthly bills, you also free up time to do more
important things.
4. GET RID OF CONSUMER DEBT
For the past several years, my family has been on a journey to debt
freedom. We are almost there. We became tired of living with tens of
thousands of dollars of debt. Due to the high debt to income ratio, we
were living paycheck to paycheck. The only wayto stop the cycle was to
get rid of consumer debt.
According to the U.S. Treasury, the National Debt for 2020 so far
exceeds 21 trillion dollars. The numbers show just how much of a
financial crisis the nation is in. Focusing on eliminating consumer debt
will help you save more money long term.
5. LIVE ON LESS THAN YOU MAKE
By far, this is the simplest way to save money and lots of it. When
you learn to be content with what you have, it does not matter
when the latest and greatest shiny, bright object comes out
to market.
I admire people who live on less than they make. To me, they are
all the wiser for having self-control and valuing what they already own.
When you live on less than you make, you have room to financially
reach other goals. Living this way is a choice and offers way more than
financial returns.
Chrissy is the founder and creator of the personal finance blog a plan to prosper. She is a stay at home Mom of three and
the household CEO. Chrissy has a passion for sharing with other Moms about mindful spending, intentional saving, and
practical debt elimination. As her family journeys towards debt freedom, her goal is to inspire others along the way.
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