Now that some of us have already broken our New Year’s resolutions and enjoyed the forbidden cigarette, chocolate cake or what- ever the yearly pledge may be, let’s change our usual purpose to an easier answer and make our financial lives healthier in 2017. Savings add up with the simplest of efforts, as created by the following readers of Mary Hunt’s newsletter:
– Save the Lincolns. Put aside each $5 bill you run across. Stick them in an envelope or a hidden desk drawer and periodically deposit the money in a special savings account. One of my friends has saved her Lincolns for years, and most any vacation or unexpected expense that comes around is paid for in advance.
– Use credit cards that earn reward points. For every dollar spent, a number of bank cards offer a minimum of at least one reward point. Just be sure to pay your balance at the end of each month or your earnings won’t offset the interest on the total.
– Pocket your pocket change. Coins can become a quick reward if you pay with bills in order to receive loose change. At the end of the day, place all your change in a jar. It will add up in a flash. (I suggest depositing the amount monthly.)
– Unplug for savings. If not in use, unplug electrical devices. If you have three TV sets but rarely watch more than one, unplug the other two. Do the same with an extra computer. According to Mary Hunt’s blog, unplugging appliances when not in makes for efficient energy savings. And at the end of each month, deduct this savings and deposit into your special account.