SAVING

MADE SIMPLE

Now is the perfect time to review your finances and set a course for the new year. If your resolutions include improving your saving and spending habits, here are some ideas for small changes you can make that really add up.

Many Americans don’t realize just how much we’re spending each month on our favorite meal delivery services, TV, and other subscriptions. When asked to estimate, most people think they’re spending under $100 in total. But surprise! The average American spends $219 every month on subscription fees. Tip: Comb through your bank statements every few months to locate any unnecessary subscription plans you should cancel or pause.

When buying anything, especially more expensive items like furniture, do your homework. Tip: Use a free tool like Honey or ShopSavvy - free, online tools, that track the cost of products over time and even alert you when there is a price drop, so you know when you're getting a good deal on that sofa

Resist the urge to purchase the first thing you see. Instead, consider if you actually NEED the product, or just want it. Tip: When you're shopping online, add the products to your cart but come back to them in a couple of days to determine if you still want the items. The price drop trackers, mentioned above, are also helpful for this!

The average American family spends $800 - $900 on groceries a month. Limit your spending by planning your meals before you shop and avoiding the "extra" items thrown into the cart each trip. Tip: Ordering your groceries ahead for curbside pickup makes it even easier to stick to your budget and avoid impulse buys.