WhiteFence.com Releases Money-Saving Tips for Consumers

Houston, TX (PRWEB) December 03, 2013

Saving money sounds easy enough just spend less but putting it in practice can be a challenge.

If the consumers goal is to save money for something specific, such as a home, a trip, a new car, or to create an emergency savings fund, then they need to set realistic money goals that they are able to reach. There are steps to take to make saving money a little easier.

Here are WhiteFence.coms money-saving tips to getting the most out of each paycheck:

Create an emergency savings fund

Ideally, a consumers emergency fund should contain enough money for them to survive on for at least six months. Finances may be tight, but theyll be grateful for the financial buffer if they should suddenly lose their job or are unable to work for a length of time. They should start contributing to this emergency fund as soon as possible, even if theyre only able to make small deposits until they pay down their debt.

Eliminate debt

The quickest way to save money is for the consumer to free themselves from any existing debt. Once they pay off their debt, they can direct those funds, along with the interest theyve been paying, directly to their savings account. If they carry a balance on their credit cards, they should call the companies and find out if theyll lower their interest rate or if transferring their balance to a card with a lower interest rate is an option. If the customer service representative wont help, the consumer should ask to speak to a supervisor.

Set your financial goals

If the consumer is planning on purchasing their first home, they should find out how much their down payment would be and set a goal of when they hope to purchase their home. If they are saving for retirement, theyll need to know how much they need to live comfortably when they are no longer working. They need to break these financial goals down to figure how much they need to save each week, month or each paycheck to achieve the goal within their time frame.

Write down all your expenses

To save money, they need to find out where it is going. The consumer should buy a small notebook to keep track of all their expenses, even small purchases. They can also download apps on their smartphone that will make it easy for them to track and categorize expenses.

Curb your spending habits

This may be a tough one. Consumers should look over the last couple of months of expenses and figure out where their money is going. There are probably many obvious cuts they can make, but tough decisions lie ahead. They will need to prioritize how they want to spend their money. One big area to trim meaningful costs is by shopping for the best deals on high-speed Internet, home phone, television, energy, and more.

Sell your stuff

Consumers can clean out their closets and host a garage sale or sell their unwanted stuff on Craigslist. Their clothing can be sold in a consignment shop, or donated to a charity for a tax deduction. Its a great way to eliminate clutter, and make some extra money that can either be used to pay down debt or build their savings.

Make meals at home

By spending a little more time in the kitchen the consumer will save money, rather than buying convenience foods or stopping by a nearby fast food restaurant on their way home from work. Every trip adds up.

Simple lifestyle changes can bring you much closer to your financial goals than you may realize.

About Whitefence.com

Whitefence.com is a free service that helps homeowners and renters compare, connect and save money on phone, internet, television, electricity, natural gas, and other home services. By simply entering a street address onto the secure site, people looking to save money or start new service can find the most comprehensive list of plans available for their specific address from over 300 nationally recognized partners. As a trusted home service shopping source for 20 million people annually, Whitefence.com makes it easy to establish service directly on the site in a few simple steps. WhiteFence is headquartered in Houston, Texas. For more information, please visit WhiteFence.com.

Published at: Articlicious Article Directoryhttp://articlicious.com

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