All Business Wednesday

December 20, 2017

5 Financial Habits that Will Make You Richer…

You don’t have to win the lottery to get wealthier.  Anyone, on virtually any income, can simply adopt these habits:

  1. Save a little from each paycheck.  Tucking away just 5% of your income can build up your savings substantially over time.
  2. Use coupons.  82% of consumer goods companies issue coupons, yet only 23% of shoppers use them. Coupons can cut a grocery bill by an average of 15%.
  3. Avoid credit card debt.  Interest rates on those are famously high and can cost you a lot of money each year.
  4. Feast at home, not at restaurants.  It’s fun to go out to a nice restaurant occasionally.  Just don’t make it an expensive habit.  Buy a gourmet packaged meal instead.  Combine it with a bottle of wine and you have a feast.
  5. Watch out for automatic renewals.  It’s all too easy to forget to cancel a subscription to a magazine you no longer read – until, of course, you’re charged again!

These simple habits can help you become wealthier in 2018.