Six Mindful Spending Habits That Will Help You Save Big
You’ve probably heard time and time again that you should be spending less and saving more for that proverbial “rainy day.” There’s also a pretty good chance that you’ve told yourself you will start spending less and saving more today, next week, next month or even next year. If this sounds familiar, you’re in good company. According to FNBO’s 2019 Savings Survey, 53 percent of respondents indicated they are living paycheck to paycheck and 26 percent attribute the high cost of living as to why they can’t save as much as they would like. Additionally, FNBO’s recent Millennials and Money Survey indicated that 72 percent of millennials admit they spend more money per month than they should.
Regardless of your age or financial situation, there is no time like the present to cut spending and start saving more. The good news is it can be done without feeling like you’re depriving yourself of all of the things you enjoy. In fact, following these six easy and mindful spending habits can lead you to big savings in no time.
Reducing spending to increase your savings potential doesn’t have to be painful. Setting a budget, being mindful of how you spend your money, and taking advantage of financial windfalls can really help you increase your savings in no time. We’re here to help! A Personal Banker from FNBO can help you set up a savings account and assist you in tracking your savings along the way.
The articles in this blog are for informational purposes only and not intended to provide specific advice or recommendations. When making decisions about your financial situation, consult a financial professional for advice. Articles are not regularly updated, and information may become outdated.