Need a financial boost to your bank account? It might be time to save money without feeling like you’re saving money.
For many people, cutting back is hard to do because we don’t want to give up certain things. But if it’s becoming more apparent you’re living above your means, USA Today has ten ways to live below your means without feeling deprived.
For example, be the boss of your money instead of the other way around. The act of assigning where every dollar goes can be very empowering and experts say the fifty, thirty, twenty strategy is one of the more popular ways to divide your money into needs, savings and debt repayment. Financial planners suggest doing this at the beginning of the month and not on pay day.
Another idea is to save off the top. Divert money from each paycheck before you have a chance to spend it. After a few months you won’t even notice the automatic transfers to your 401-K or savings account. For more ways to cut back, check out the full article on USA Today.
About Brian
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
