New Year’s resolutions? We all have good intentions on making resolutions and trying to stick to them but, somehow, after a few days, weeks or months, we give up on our good intentions.
Generally, the number-one resolution for most is to start being healthy and exercising. Temptation certainly gets in the way of staying on track!
So, why don’t we make resolutions that are obtainable?
Your financial health should be important, as well. Here is a simple list of “Smart Savings” for 2019.
S Save for an unexpected emergency or rainy-day fund. You should save for at least one to three months’ worth of expenses.
M Make weekly meals ahead of time instead of eating out.
A Articulate your needs and wants and make wise decisions.
R Reinvest any unexpected funds like gifts, tax refunds or inheritances.
T Track your daily, weekly and monthly spending to see your spending habits and what you can live without.
S Savings Account – If you haven’t already set up an account, now is the time to do so.
A Advisors – If you need help in investing your money, find a trustworthy advisor to help you in your planning needs.
V Values – Evaluate and determine what is important to you.
I Invest 10 percent or more of your income to your savings account. If 10 percent is not an obtainable goal, then find a goal you’re comfortable with to start saving.
N Negotiate with your cable, phone and internet providers yearly on the best possible payment or bundle plans. These companies are constantly changing plans to save money but won’t tell you unless you ask.
G Give up vices, such as smoking, drinking, gambling, etc. and put the money you would spend on these vices in your savings account.
S Set-up automatic withdrawals from your paycheck to your savings account. As the saying goes, “Out of sight, out of mind.”
If you follow these simple steps, you may be surprised at how much you could save for your future.
For more information on how you can plan your financial goals, contact one of our advisors at Old North State Trust.
Old North State Trust, LLC (ONST) periodically produces publications as a service to clients and friends. The information contained in these publications is intended to provide general information about issues related to trust, investment and estate related topics. Readers should be aware that the facts may vary depending upon individual circumstances. The information contained in these publications is intended solely for informational purposes, is proprietary to ONST and is not guaranteed to be accurate, complete or timely.
As Marketing Director, Alyce works to develop, budget, and implement marketing plans, which include advertising, coordination of conferences, special events, and development and maintenance of marketing materials. She also oversees the company’s website, in-house articles, and fostering community initiatives within the organization. Alyce received a BS degree in Interior Design from East Carolina University with a concentration in Business Administration and obtained her teaching certification from UNCW. Old North State Trust professionals have many years of experience and for over a decade have assisted clients in identifying and reaching their financial goals. For more information, visit www.oldnorthstatetrust.com or call 910-399-5470.
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