There is never a bad time to get your finances in check. Today I’ll give you 5 easy tips to help you save and invest! 

Create a budget.

To create an ideal budget, you need to be realistic and give yourself wiggle room. Making a budget that works with you to achieve your goals is important. If the budget is unrealistic, you won’t be able to stick with it and it won’t be sustainable.

Consider making  small changes to your normal spending habits rather than big shifts in your budget. Making small moves toward your goal number over time will work in your favor, whereas drastically cutting your budget is setting yourself up for failure.

Pay Off Debt

Pay off your debt, but do it in a way that saves you the most amount of money in the end. Look at each balance, interest rate, and how long they expect you to be paying on the loan.

Consider looking at different payment methods such as the Snowball method or the Avalanche method. Using a calculator like this one can make it easy to see the numbers and decide which option saves you the most. 

Save for Now and Later

While saving for your goals is important, it can be easy to forget about your future plans. Remember to continue building not only your emergency fund but your retirement as well! 

Does It Bring You Joy?

Do you know where all of your money is being spent? This may be a helpful time to write everything out. You need to know where your money is going. Look at each place and really consider if you want to be spending your money here. If not, great! An easy deduction from your budget. 

It’s easy to cut out spending when you find where money is slipping through the cracks. Then, that money can be intentionally put in areas that do bring us joy. That could mean funding a current goal with the money that used to go to a subscription you don’t even use anymore! 

Bargain Hunting

Compare prices and look for coupons before making purchases – do the research!

I promise you’ll thank yourself later. Look into price match offers, sales, and even consider just putting the item on your wishlist. 

Revisit it in a month, you may have lost interest in the purchase altogether! That’s a huge save in itself.

Living Below Your Means

Saving and investing is short term. You need to be increasing your income so you can live without financial worry. Living below your means will always be the best way to ensure you are setting aside money for your future and setting yourself up for success.

As long as you can keep your spending lower than what you’re bringing in, you will have surplus money to be used accordingly. When you can live this way sustainably, you are living below your means and taking care to follow your budget.