Quantcast
Viewing all articles
Browse latest Browse all 6707

New Year's Resolutions for Your Wallet

Here are some New Year's Resolutions for your wallet that may help you have a financially better 2013.

According to the results of a new study by the Franklin & Marshall College Center for Opinion Research, CPAs in Pennsylvania share widespread pessimism about the state's economic condition next year.

So what can a family on a tight budget do to stay afloat and stay ahead of the financial trends in the state?

According to Lancaster-based financial expert, Rick Rodgers, it's simple: Plan for better health and fitness, better relationships and professional productivity, but also for a stronger and more organized financial life in 2013.

Rodgers says downsizing or eliminating hidden or unused benefits of cable, phone, insurance policies, club memberships and other fixed expenses can save you money each month.

He advises you look at every fixed expenses bill you have and eliminate whoever possible; HD cable boxes in rarely used rooms, land line phones services that are not necessary such as long distance packages where that service may be free on your cell phone, your car insurance may provide emergency road service for a fraction of the cost of AAA and you may be over insured for one or all of your vehicles.

Rodgers also says it's important for both spouses to be involved in the budget and bill-paying process, because both parties then have a complete understanding of the monthly expenses and are better equipped to keep them down and reduce spending as a result.

He also breaks down five eye-opening facts about saving and spending: 261 work days in 2012.

Eating out each workday:

At just $5 per day = $1,305 a year - or at $10 per day = $2,610 a year not including tax and tip.

Average cost of a specialty breakfast drink at a nationally recognized coffee chain daily for five days a week is $3.25 a day, $3.25 per day - $16.25 per week - $845 per year

Also, according to Yahoo Finance, reducing your thermostat from 140 to 120 degrees can save you more than $400 a year.

Eating out just one a week, family of four:

Average meal price of just $7.00 = $28 per week or $1,400 per year.

Add %15 for tips at $210 and it's a total of $1610

Average meal price of $10 = $40 per week and $2,060 per year.

Add %15 for tips at $309 and it's a total of $1369 or a nice family vacation.

Rodgers also suggests: dump the gym for a home workout.

According to dedicatetofitness.com the average cost of a gym membership is about $45 per month. Or $540 annually, considering transportation, parking, initiation fee's and it could be costing you much more.


Viewing all articles
Browse latest Browse all 6707

Trending Articles



<script src="https://jsc.adskeeper.com/r/s/rssing.com.1596347.js" async> </script>