Do you find it tough to stick to a personal budget? Are you able to pay your bills, but find it difficult to set aside money? Of course, bills are important, but you have to enjoy life and save too.  Here are a few tips to help you save.
 
HOW TO SAVE MONEY AND REDUCE DEBT

• First, start by keeping a log of your spending for a month. To be able do more with your money, it helps to understand what you’re doing with it now. You might be surprised to see how much slips away in unplanned purchases. By creating a budget, and sticking to it, you may find you have more money than you thought to put towards your long-term goals.


• Many financial experts suggest that you put aside 10% of your income for your long-term savings. Treat it like any other bill-it’s a payment you absolutely have to make.


• Reduce your debt by starting with those that cost you the most. Eliminate high-interest debts like credit cards first-they usually carry a higher rate on unpaid balances than a bank loan or a mortgage.


• Put the extra money you save towards paying off your other debts.

View our Guide To Personal Budgeting or contact your Sagicor Advisor today to learn more and start saving!