Most of us get paid bi-weekly and by the middle of that second week, our checks are almost gone. Forget about putting money into our savings accounts! The experts at HCR Personnel want to help you stop this cycle and provide education on how to stretch your paychecks … and maybe even save a little.

Make a Budget and Stick to It

Making a budget works, but only if you stick to it. Watching how you spend your paycheck will help you understand the choices you have when it comes to money. Start tracking your expenses for one whole month. Begin by setting aside your base expenses first: Things like your rent and transportation. Then take note of how much you spend on food, including how often you eat out, and what you spend on other purchases like clothing and toiletries. Finally, write down everything else you buy for the rest of the month. At the end of that period, you will have a good idea about how much you spend and where you might have made better choices.

Seek Out Deals

Smart shoppers look for deals on everything they purchase. Review all your existing contracts for electronics and services. Then, start shopping around for a better deal on almost everything. This includes things like insurance, cable TV, cell phone and internet services. Take a look at all the supermarket specials and buy in bulk whenever possible. You might be able to shave a few dollars off almost every item you buy, rent or lease.

Reduce your Debt

Interest is what you pay to the bank or credit card company for any money that you borrow. Start by trying to reduce your overall credit card debt. This might mean seeing fewer movies, or eating meals at a restaurant, but that short-term pain will be your long-term gain. Less debt means less interest. Then, think about switching to a no-fee, low-interest credit card. There are several options for this type of credit card on the market. Once you’ve got your debt and interest under control, you can move to using your bank debit card, which carries no interest at all. In a couple of months, you’ll be able to pocket all that interest you were once paying.

Look for Free Entertainment and Use Extras Wisely

There are several ways to have fun that don’t cost money. These include going to the library, skating at the community centre or going to the beach. Hiking, fishing, swimming in the lake are not just free, but good for you as well. There are also free concerts in almost every town or city, and many places offer free outdoor movies on summer evenings. Also, if you have a job that requires overtime or you get regular bonuses, use them wisely. Don’t rush out to buy a new toy with your extra money. Treat it as something special and put it towards your own financial goals, like reducing your debt, or saving for a new vehicle.

With the money you saved by following these tips, treat yourself to something nice. You worked hard for it!

If you are looking for a job in the manufacturing or auto industries, talk to the experts at HCR Personnel Solutions. They don’t just make promises. They deliver results.

 



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