Savings, Debt, and Coupons

Aug 26th, 2021

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Category: Behind-The-Scenes News

Savings, Debt, and Coupons

The pandemic affected everyone – and we have all had to find new ways to cut back and save. Over the past several months, we have all looked at our budgets and the monthly bills that we have.

Working to build a savings, or even pay off debt can feel like a daunting task. Stepping through it a little at a time can feel more manageable and help you feel more in control. Here are a few tips to paying off debt and set money aside at the same time.

  • Savings – Begin with setting aside $50.00 in a savings account. You can add more if you want, but this gives you a small amount moving forward as you work to pay off other debt.
  • Pay off debt – As you lay out your bills, find the credit card, student loan, or other bill amount that you are paying on with the lowest balance, and pay a little extra on it. By adding a little more each month, you can concentrate on paying off one bill. When that one is paid off, you can roll that payment into the next one, and so on.
  • Celebrate wins – As you hit milestones that you set, or pay off that one bill that has been stressing you out – celebrate! While you don’t want to run up new debt, you have to celebrate your wins.
  • Strict Budgeting – No one enjoys having a budget. They are often stressful and hard to stick with. By using a strict budget, you can work to achieve your financial goals. Don’t forget to budget for a little fun!
  • Coupons – Don’t be afraid to use coupons! That paper gold can help save you money on every day items that you buy, which means you can use those savings for other things!

Each of the above tips can be adjusted to fit your families needs. If you have any tips you want to share with us, we would love to hear them!

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