Consider choosing frozen food items when suitable. Frozen corn, peas, fish and many other items are cheaper than their fresh (non-frozen) counterparts because they have a longer shelf life.
Stores have to consider the losses that can be incurred with anything that is perishable, and build that into their profit margins.
As we wrap up one season, many of our thoughts are toward the next season. But, don’t let great “end of season” deals and clearance items slip by.
Is your lawnmower on it’s last legs? Is that gas grill getting a bit too rsuty for your comfort? Watch for end of summer discounts - sometimes up to 50% to 75% off of the “in season” pricing.
It’s never to early to think about next year.
Most people are familiar with the “10% Savings Rule”. This is the basic rule of thumb that everyone should save 10 percent of their income, at all times.
This is an excellent guideline, but it can be improved upon.
First, remember that it’s 10% of your income, not a static number that never changes. If you get a pay raise, your “10%” should be adjusted accordingly. The same goes if you receive a bonus or other windfall.
Now, once you’ve become comfortable and committed to saving 10%, and you are able to meet your other financial obligations, consider bumping your savings amount up to 15% of your income. Obviously, your savings will grow faster and you’ll enjoy the greater peace of mind as you watch your savings grow.
Comfortable with 15%? Maybe it’s time to save 20%…
What’s the very first step in creating a stable financial future?
Pay your debt.
Seems simple. But, there’s a little more to it than that.
It’s true that paying your debt should be considered an investment with a guaranteed return on investment. After all, if you’re paying down the balance on a credit card with a 15% APR, you’re essentially enjoying a return better than most any common investment would provide – mutual funds and stocks included.
But, there’s one more important part of this equation… Savings.
While paying your current debt should remain at the top of the priority list, you should be adding funds to a savings account concurrently, if even a small amount.
By adding to a savings account, not only are you building upon a good habit, you’re creating a bit of an insurance policy against future debt.
The money allocated to the savings account should be small in comparison to the amount used to pay debt, but it should not be neglected. Increase the amount to savings as the debt owed decreases.