Have A
Little More In The Bank
6 Easy Ways to
Manage Your Money
FACT: Many Americans would like to have a little more money in the bank at the end of each month. REAL-LIFE APPLICATION: On the next few pages, you’ll learn six easy tips that you can start applying to your money management routine right away.
Be A Coupon Betty FACT: Americans saved nearly 5 billion dollars in 2013 by using coupons.1
REAL-LIFE APPLICATION: An easy way to get a piece of that 5-billion-dollar pie is to sign up for savings programs that will automatically send coupons relevant to you straight to your email or cell phone.
Always Have A List FACT: The average American spends $281 a month on food and $35 on personal care.2 REAL-LIFE APPLICATION: Always make a list when heading to a store – and never go grocery shopping hungry!
Sound Investing FACT: The average American family has $35,000 saved for retirement.3
REAL-LIFE APPLICATION: Talk to a financial advisor if you do not currently have a diversified investment portfolio that could include: stocks, commodities, bonds, and mutual funds.
Track Your Spending FACT: The average American spends $121 a month on clothing and $191 on recreation.2 REAL-LIFE APPLICATION: Write down everything you purchase – a simple way to keep track is by carrying a checkbook register.
Have A Set Budget FACT: The average American household carries $15,799 in card credit debt.4
REAL-LIFE APPLICATION: Avoid a balance by limiting your credit card spending to emergencies only. Fancy dinners, luxury goods, and entertainment should be paid for with cash or check.
Pay With A Check FACT: In 2012 only, it’s estimated nearly 20 billion checks were paid.5 REAL-LIFE APPLICATION: Paying your bills by check helps you better keep track of your expenses and avoid costly interest rates associated with credit card spending.
Seek Sound Advice
And for good measure, ask your financially fit friends for their top money management tips.
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Statistics Sources 1. Coupon Statistics http://www.statisticbrain.com/coupon-statistics/ 2. Spending Statistics http://www.statisticbrain.com/what-consumers-spend-each-month/ 3. Savings Statistics http://www.statisticbrain.com/american-family-financial-statistics/ 4. Card Card Debt Statistics http://www.statisticbrain.com/credit-card-debt-statistics/ 5. Checks Paid Statistics http://www.frbservices.org/files/communications/pdf/research/2013_payments_study_summary.pdf