Roseland Associates Teaches Tips to Save Money in Your 30’s
We have all been there; stuck in a financial rut with absolutely no idea how to make any big life changes because you feel like your wheels are spinning. I know this has been an issue for not only myself but many relatives and friends as well. Finances are not things we like to talk about with people because often they bring embarrassment and feelings of shame and even guilt but we hope this post eases the topic some for many people. Companies like Roseland
Associates offer great tips and helpful advice for those of us who need the extra push.
Money Saving Tips from Roseland Associates:
In the past many people have gone to the internet to look for ways to save money. These methods are often not the best and bring more feelings of shame because it is hard to compare lives with other people who may have found ways to be more lucrative. Here are some fool-proof ways to save money:
- Create a Budget- this is often hard but I have found that old fashioned paper and pen have worked best for us. We write out all of our bills, put in a food budget and don’t forget gas money. This keeps us on track for the entire month especially as a family who gets a lump sum at the first part of the month and we have to make it last. This does take some restraint and knowing that you have to stick to the budget. I feel that doing this in our 30’s is a lot more successful than in younger days, especially now that we have children.
- “Keep the Change” may sound like something you say to a store associate or a waitress, but in this post we are talking about literally keeping your own change. Many times we break up money and receive coins and we toss the change into a jar. When the jar is full we utilize the Coinstar machine, but here is the catch: to avoid the fees of the machine, we get the coins converted into store gift cards such as Amazon and use them for things we need. You can even buy groceries on Amazon these days, so we find this to be a win-win situation. Banks often have a keep the change program that directs the “change” from a dollar into a savings account which will in turn yield interest and make you even more money.
- Bank Your Refund- When we receive work bonus’ or tax refunds it is important to save part. This makes for an easy way to save money that you were not expecting or money outside of your regular pay checks. A percentage of these windfalls adds up and makes for a nice little chunk in the savings account in case of emergencies and again
I reiterate that any money in most savings accounts will garner interest.
Banking Tips to Save You Money from Roseland Associates
America Saves gives us a lot of money saving tips that are great to know and learn but also serve as reminders as well. These tips are helpful for all ages, but again I have found that since entering my 30’s they are even more helpful because I am willing to listen and follow through.
- Pay off credit card balances in full every month or divide into several large manageable payments. The longer you drag the payments out the more interest you will pay and that is just money down the drain.
- Use ATM machines associated with your bank to avoid hideous fees associated with using a non-branch ATM. Those fees can often result in up to $5 of lost money that you will never see again.
- Make a plan to reduce your debt and “freeze your credit”. This may sound crazy but people are literally putting their credit cards into water and freezing them. This stops unnecessary spending and allows the thought process to take over before you act irrationally.
- Many banks and financial branches such as Roseland Associates offer free money management and savings programs. They are worth checking in to because often we can learn something from having someone on the outside look at our spending and savings habits.
Roseland Associates teaches Family Planning Savings Tips
- Start saving for college at the baby shower. Here in Virginia there is a 529 program that allows for great college savings. There are tax advantages for these programs as well.
- Attend yard sales and swap meets for huge savings on barely used items that you need for your home. We have been very fortunate in the past to get items that were hardly used for a fraction of the retail value. Goodwill and Salvation Army have store fronts as well that focus on giving great deals to others while putting some money back into the hands of the less fortunate and also offer programs to help others get jobs.
- Have no-spend days/weeks- We often set a few days of the month or even an entire week as no-spend times. These times we spend very little or even no money.
Miscellaneous Money Saving Tips:
Don’t skimp on preventive healthcare. Routine dental checkups, for example, help prevent fillings, root canals, and dental crowns, which are expensive and no fun.
Go generic. Ask your physician if generic prescription drugs are a good option for you. Generic drugs can cost several hundred dollars less to purchase annually than brand-name drugs. And since physicians often don’t know the costs you incur for a particular drug, you often have to ask.
Comparison shop for prescription drugs. Don’t just rely on the closest drugstore because the cost to you can vary significantly from pharmacy to pharmacy. Make sure to check out your local pharmacist, supermarkets, wholesale clubs, and mail-order pharmacies.
Purchase store brand over-the-counter medications. Store brand medications often cost 20-40 percent less than nationally advertised brands, but are the exact same formula. The premium you’re paying on brand names is for nothing but the marketing.