Simple Money-Saving Tips

July 1, 2016 | Mission Fed

Not all activities are simple, but saving money by examining your expenses can be. Many successful people will tell you, it’s not how much money you make, but how much money you spend that affects your short-term and long-term financial health. By making a few simple adjustments to your daily routine, you could cut costs allowing you to save more for retirement, your next great vacation or maybe even for those solar panels you’ve been considering. Mission Fed Online Banking includes a feature that lets you add and customize specific savings goals to your Savings Account, monitor your balance and transfer funds easily. Check out these simple money-saving tips and get started today:

Develop a monthly budget

A budget helps keep track of your incoming funds and your outgoing expenses, allowing you to see where you spent your money and perhaps where you can cut back. Once you know how much your daily gourmet coffee costs you, you might consider making it a treat instead of a regular occurrence. It is important to review and update your budget regularly and make sure you follow it!

Use your credit cards wisely

To start, shop around for a card with no annual fee and low rates. A Mission Fed Credit Card can help you make larger purchases, like a new laptop, or help in case of an emergency or unforeseen expense, like a car repair or new washing machine. Be careful not to purchase more than you can afford, and pay it back promptly.

Conserve resources

Every little bit counts. To save energy, turn off and unplug lights and try hanging some of your clothes out to dry instead of using the dryer. Limiting the amount of water you use is another great way to save money, too. Have you family take shorter and fewer showers, turn off the water while brushing your teeth or lathering your hands, and only run the dishwasher and clothes washer when they’re full.

Keep your car in check!

With scheduled oil and filter changes and other routine checkups, you could avoid major repair problems down the road. Treat your car to regular maintenance for smooth driving. Or, if you’re in the market for a new or pre-owned car, check out Mission Fed’s low Auto Loan rates and car buying service, Autoland.

Sign up for rewards programs

Some credit cards offer an incentive program that lets you redeem points earned when using your credit card. Check out free Mission Rewards to see how Mission Fed thanks their members. With options like cash back, airline tickets and donating your points to a local school, there’s an option for everyone.

Pack your lunch

Eating lunch at a restaurant might be a timesaver, but lunch out regularly can be a budget buster! With some planning, you can save money by bringing a brown bag lunch and snacks to work daily with the occasional splurge meal out.

Examine your phone, cable and internet bills

With so many options available today, a little research into other providers and their plans could help you reap a financial reward and maybe even get more data or better service. Compare providers in your area and pick a plan that best fits your needs and wallet.

Use coupons

Coupons can significantly reduce your shopping total. Check out your grocery store’s website for local deals and find discounts for restaurants, fun outings and local businesses using apps like Groupon and Living Social.

Another simple way to save is to make sure you’re banking with the right financial institution. Mission Fed members enjoy lower rates on loans and fewer fees because we’re not for profit, but for service. We don’t have stockholders controlling what happens. Any profits we do make get reinvested right back into Mission Fed, so we can keep saving people money and enhancing our services. We also give back to educational and other nonprofit organizations in the communities where our members live and work.

Make 2020 your year to cut costs and increase your savings—contact Mission Fed today to learn more about opening a credit union savings account!

The content provided in this blog consists of the opinions and ideas of the author alone and should be used for informational purposes only. Mission Federal Credit Union disclaims any liability for decisions you make based on the information provided.

Mission Fed

Mission Fed

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