NEW HAVEN, Conn. (WTNH)– We are continuing our week of saving you money. If you are looking to save in the New Year, we’ve got your back with ways to do that. News 8 is helping you stretch your dollar with 3 simple ways to keep more money in your pocket this year.
If saving money is on your list of resolutions this year there are three simple things you can start doing now that will save you more throughout the year.
Matthew Carbray with Ridgeline Financial Partners says, number 1, start with those monthly bills that you’ve gotten into the routine of just paying without looking at them.
“In this day and age, something we often forget is after a one or two year cycle, those bills can go up. So, the consumer can competitively shop around those rates and potentially save some money for the same services they’re already getting,” Carbray said.
Number 2: pay yourself first! Make sure you are matching your employer’s retirement contributions. If not, that’s free money being left on the table. If you already are, increase your contribution to simply save more this year.
Lastly, get serious about budgeting. Take a hard look at where your money goes each month and if you can’t do it, look for an app to help.
“Mint.com happens to be the one that we prefer. You can go on there and tie in your bank accounts and credit cards and it will help you to determine what you’re spending and where you’re spending,” he said.
Cutting just $5 out of your weekly expenditures and putting it into savings will save you an extra $250 this year.