Money Tips You'll Be Thankful For

It’s usually around this time of the year when you take stock of your life, reflect on what you learned, and give thanks for all the good things you’ve experienced. Of course, the year in question also happens to be 2020, so thanksgiving isn’t exactly on everyone’s to-do list.

But, Sheroes everywhere know just how important gratitude can be, especially for your health, happiness, and even your finances. That means that you can always find the silver lining, and in this case, it’s the newfound financial mindset that you gained after all the hard lessons of these past few months. To remind you that being grateful and having financial security can go hand in hand, spell out G-R-A-T-I-T-U-D-E with these money tips and tricks that you’ll definitely be thankful for!

G – et used to writing things down

It might sound obvious, but knowing where your money goes is more than half the battle. Keep a record of your money moves – your budget, income, taxes, savings, and more. Make a habit of writing things down and keeping files of everything.

R – ead the fine print.

A lot of financial transactions come with terms and conditions, so double-checking the fine print can save you a lot of money. You could find anything from hidden fees to surprise discount codes and rewards!

A – void using up your credit limit.

Just because the limit exists doesn’t mean that you have to reach it every month. Cut it down to a more reasonable amount in your mind to keep unnecessary expenses at bay.

T – urn to technology for help.

Explore the features of personal budget apps, or even your local banking app to help you navigate your own finances. For example, automating your bill payments is a great way to avoid debt!

I – nvest in your health.

A healthy body automatically leads to healthier finances. Don’t be afraid to spend a few pesos on your vitamins today – you’ll likely end up avoiding scary medical conditions and bills in the future!

T- ell your family about your money goals and apprehensions.

If your significant other or family members know about your fears and goals about money, it’s easier for them to understand your financial moves, not to mention act accordingly in your everyday life together.

U – se your other talents to generate extra income.   

Generate extra income by exploring side hustles that you can do aside from your day job – you can even use this as an excuse to make time for your hobbies!

D – are to try a money-saving challenge.

It could be anything from a setting coins aside for your piggy bank, to committing to the 52-week money challenge!⁽¹⁾ Any extra savings could also be set aside in an emergency fund for a rainy day.

E – ducate yourself and be financially literate.

This one is very easy to do, thanks to the financial literacy resources provided by Sheroes. When it comes to your finances, don’t hesitate to ask for advice – your friendly community is always here to help!

REFERENCES:

(1) The 52-Week Money Challenge Is an Easy Way to Save Almost $1,400 (2019).