FOR YOU
Tip 6: Save Automatically
Want to put your money-saving on autopilot? Set up your bank account to automatically transfer money into savings every time you get paid. It takes the stress out of saving because once it's set up, you don’t have to think about it. Every month, a portion of your paycheck goes straight into your savings account, and before you know it, you've built a nice little nest egg without even trying. It's perfect for those who might have a tendency to spend first and save later. Plus, it helps you reach your financial goals faster, whether that's buying a home, planning a vacation, or just having a solid emergency fund. It’s the ultimate set-it-and-forget-it strategy for financial peace of mind.
Tip 7: Know Your Benefits
From 401(k)s to HSAs, many people skip out on some exciting employee benefits because they are too overwhelmed by the jargon attached to it. But trust me, you want in on these benefits!
Tip 8: Get a Financial BFF
You might think you have to be super wealthy to have a financial professional, but that's not true! Whether you are starting your first job, saving for your dream home, or planning your retirement or kids' college fund, meeting with a personal finance coach can help you bridge the gap between where you are and where you want to be, no matter your age or account balance. There's nothing more reassuring than having clarity about your financial future, and isn't life stressful enough?
Tip 9: Make Simple Swaps
Making simple swaps in your daily routine is a smart way to save money without overhauling your entire life. For example, how many subscriptions are you currently paying for? How many do you actually use? How many did you forget about? Do any of them do similar things? Prioritize and pare down accordingly, just as you would your physical items. Even eating a bagel with scallion cream cheese at home a few days a week rather than stopping at the deli for breakfast on your way to work every morning can go a long way. Okay, I'm definitely talking about myself here!
Tip 10: Download THE Money Guide
Looking for more resources to help you on your financial journey? We worked with our friends at First Horizon Bank to create THE Money Edit—an easy-to-understand guide with helpful tips to get your finances organized and save for the things that matter, including a Q&A with our BFF (Best Finance Friend), Lori Carver at First Horizon, who answers all the questions our team has too been embarrassed to ask, and a glossary to help you understand all the confusing financial jargon, once and for all. Download THE Money Edit here!
Thoughts welcome!