3 Simple Ways to Start Saving More Money: Tips From a Tucson Finance Professional

February 23, 2021

3 Simple Ways to Start Saving More Money: Tips From a Tucson Finance Professional

If you’re struggling to reach your savings goals, you’re not alone. Many Americans are having a hard time getting ahead right now. However, the good news is that there are some simple, practical, and effective steps you can take to start saving more money today. Of course, an experienced financial advisor Tucson from Greenberg Financial Group, is always here to help.

1. Set Up Automatic Banking Transfers

Many banks now offer free automatic bank transfer services, which allow you to send money directly from your checking account to a linked savings account. Consider putting this feature to use by scheduling automatic money transfers from your checking account to your savings account on payday; even sending $50 to savings bi-weekly can add up to an additional $1,300 (plus interest) in your savings account over a year—and because it’s automatic, you won’t even have to think about it!

2. Revisit Your Subscriptions

If you’re like many American adults, you’re paying for more subscription services than you realize. When was the last time you sat down and evaluated the subscriptions you currently hold and whether they’re actually worth what you’re paying?

By cutting down on subscriptions, you don’t need or use, you can start saving a nice chunk of change each month. For example, do you need three different video-streaming services? Even at just a few bucks per month each, costs add up quickly.

3. Negotiate Better Rates on Essential Services

Of course, there are plenty of subscriptions and services you pay for and do need, such as your monthly phone service and cable Internet (especially if you work from home). Still, this doesn’t mean you need to be paying as much as you currently are.

When was the last time you called your service providers and negotiated your pricing? If it’s been a while, you could be leaving a lot of money on the table. Cable and Internet providers are used to haggling and negotiating costs to keep their customers, so don’t hesitate to give this a try. If you see a similar service advertised for less than what you’re paying, you can also use this as leverage to strike a better deal.

By doing this with all of your monthly services, you might be surprised at how much you can save. Even cutting down on these costs by a total of $50 per month could save you $600 per year. That’s money you can put straight into your savings account to begin accruing interest.

The Bottom Line From Your Tucson Finance Experts

Still feeling like you could use some more help in reaching your savings goals? Working one-on-one with a professional who specializes in finance in Tucson may be your best bet. Our team of financial advisors at Greenberg Financial Group is here to help you develop a realistic savings plan both now and in the long-term. Contact us today to get started!

Sources

https://www.westmonroepartners.com/perspectives/point-of-view/americas-relationship-with-subscription-services

https://greenbergfinancial.com/