Many people look at the New Year as a good time to begin making changes in their life. Getting healthy and losing weight is at the top of the list, but what about your finances?
The Savings Bank of Danbury has some Smart Money Tips to help you start the year off on the right financial note.
1) Set a budget and a saving plan.
2) Look for ways to realistically cut back on spending.
3) Be realistic. If you are a spender, you have a better chance of success if you give yourself a generous spending budget.
4) Remember, a budget can be as simple or complex as you want it to be.
5) Start an emergency fund to cover 3 – 6 months of expenses.
6) Pay debt off early and make extra payments when you can.
7) The most important part of a budget is to save. $5 – $10 or more per paycheck can add up quickly.
Check back here each month, the Savings Bank of Danbury will have a new Smart Money Tip that can give you peace of mind and hopefully more money in your pocket! For more expert advice stop by any of their 14 locations.