While it might feel like we’re still getting used to writing “2019” on important documents, the truth is the new year is already in full swing. If you’re like most people, you probably set some new year’s resolutions or intentions focused on saving money. After all, who doesn’t want to improve their finances? We can always find ways to trim spending, improve our saving, and make strides towards paying off our debt.
But did you put some realistic and measurable goals in place in your effort to improve your finances? Without outlining tangible steps for how you’re going to get your finances on track, it’s easy to get lost in good intentions and ultimately miss out on your savings goals.
Life always throws us some curveballs. Spring cleaning your bank account can help you better prepare for when the unexpected hits. Think about what it might feel like to be living with a tight budget and then dealing with a financial emergency. Luckily there are options out there like short-term online loans that can save the day before your net paycheque — just click here to learn more about that.
Get a better handle on your finances this year and start making your way towards your long-term savings goals. Here are some steps you can take to rejuvenate your bank account this spring.
Review Your Bank Statements
Do you actually take time to go over your bank statement? You don’t have to have the paper version mailed to your door anymore since these days electronic options are an easy option and go straight to your inbox.
By going through your statement, you might notice that the fees you’re being charged mean that the account you have isn’t serving your money best. It might be time to look at another package with different rules for cash withdrawals or overcharge fees.
Cell Phone Use
Like with your bank account, reviewing your cell phone statement can be the right step to making sure you have the right plan and package for your needs. Depending on the terms of your phone contract, you might end up paying extra for certain messages that other people send you like multimedia text messages. A quick talk with your service provider can make sure your account doesn’t receive any unwanted messages that affect your bill total.
Is Auto-Renewal Making a Decision for You?
Especially today, the free trial comes with a caveat: if you don’t cancel it soon enough, you’ll end up paying extra for the renewal fee. This goes for policies like insurance policies and memberships, too. Check your memberships and review to see how many come with auto-renewal.
For established accounts and new ones, too, make it clear that you do not want to set up auto-renewal. While it may seem convenient to not have to worry about renewing manually, sometimes you can even get a better rate when you have to talk to a company representative again to discuss the terms of your account. For memberships like gym memberships or cinema clubs, review your habits and be honest with yourself about how much you use your account. It might be cheaper to pay as you go and forego membership payments altogether.