Tag Archives: Money Saving Tips

7 Daily Habits That Will Save You Money

Saving money doesn’t have to be complicated – there are habits to incorporate into your daily routine that will save you money in the long run. These tips are simple and easy to start but also very effective. It’s time to take control of your finances and make some healthy changes!

1. Pay with cash

Using a credit card for everyday purchases can be tempting and often lead to impulse buying. A good way to stick to your budget is to have a certain amount of cash for the week and use only that cash. This is also great because you can’t spend money that you don’t have.

2. Do more things at home

Too often we rely on other places to do tasks that can easily be done at home. For example, many people spend lots of money going out to eat, getting their car washed, stopping for coffee, getting their hair trimmed and more. These are all things that can be done for a much lower cost in the comfort of your own home!

3. Check the secondhand shop first

You never know what secondhand gems you can find until you try! Before making a purchase, check garage sales, thrift stores, the Facebook Marketplace or more to see what deals you can find.

4. Schedule when to track your spending

To hold yourself accountable for what you’re spending, it’s a good idea to track your spending. Plan a day you’ll do this each week, so it becomes a habit. It’s a great way to reflect on what purchases were necessary and which ones weren’t. There are lots of apps you can download to help with this.

5. Be careful with your utilities

Even though utilities are a recurring cost, there are still many ways to reduce how much you must pay. Try cutting costs by keeping lights off, taking shorter showers, opening your windows rather than cranking the AC, etc. These costs can add up so this is a great habit to start!

6. Reevaluate memberships and subscriptions

Go through all the subscriptions and memberships you pay for. Which ones are necessary and which ones aren’t? Save yourself some unneeded costs by getting rid of some monthly payments.

7. Take time to think before you buy

Before making a non-essential purchase, give yourself a few days to think about it. Only follow through with the purchase if after those days you still really want it to help reduce impulse buying.

We hope these tips will make a difference in the way you handle finances in your everyday life. Turning these seven things into habits will certainly pay off in the long run, so give them a shot! Contact us to learn more about the financial services we offer.

How Can My Teenager Start Saving for the Future?

High school years are often tricky when it comes to money. Your teenager might have a part-time job, but how can they start using that money wisely and investing in their future? Keep reading to find out how you can guide your child towards smart financial decisions.

Open a savings account and don’t touch it!

The first step is for your child to open a savings account. Here they can stash a percentage of the money they’re making for future use. Time works wonders on money, so investing what they have will allow it to grow and become much more than it once was. That’s not all, though – make sure their savings account is strictly for saving and that it’s not being tapped into for other reasons.

Record and keep track of purchases.

A great way for your teenager to find out if they’re overspending is to put it on paper. Have them keep a book and write down all the purchases they make. At the end of each week or month, they can look back at what they’ve spent and know what changes to make in their spending habits.

Find a part-time or summer job.

If your child is too busy to work during the school year, a great solution is to help them get a summer job. If weekends are open, they could even find a part-time, weekends-only job during the school year to help rake in some extra money.

Get a jumpstart on an emergency fund.

If you haven’t talked to your teenager about the importance of an emergency fund, now’s a good time to do so. If they start putting money aside for emergencies only, they’ll be way ahead of the game by the time they need one as an adult. It’s never too early for your child to start investing in their future. Odds are, down the road they’ll need that emergency fund and will be more than thankful they started it early.

Plan ahead and set goals.

Once your high schooler graduates, they’ll be paying for things they might not have thought about. One smart move is to think ahead about what they’ll need to pay for so they can set a goal amount to save. For example, maybe they’ll need to buy a car, pay for college, move out and pay for rent, etc. Whatever it may be, having a goal in mind is a good motivator.

There’s nothing better than planning ahead, achieving your goals and getting a jumpstart on the future. Your teenager will thank you later for guiding them towards smart financial decisions, and the best time for them to start implementing these tips into their life is now! To help them start saving, set up a savings account with us today!

Planning Your Spring Garden for the Best Return

Garden ROI

Spring is still just out of sight, but for prospective spring gardeners, the time to start seed germination is almost here! With seeds for some summer produce taking up to three months to prepare for planting, planning ahead of time can truly make or break both personal and commercial growers. Before you start organizing your garden for the season, we offer these helpful tips to help you make the most of your agricultural investment:

Grow Heirloom: Tomatoes are a staple of countless summer gardens, but what will differentiate your juicy produce from other countless selections at the market? Variety! With new strains of tomatoes being discovered each year, blue, striped, and white fruits can offer your family and customers a unique and delicious twist on a summertime classic. The basic large red tomato has an average price point of approximately $3.50 per pound, but smaller heirloom varieties often go for more than $5.00 per pound. With one plant typically producing over 20 pounds of fruit, you could easily make $100 off of one heirloom plant!

Learn to Preserve: Once you’ve harvested the tomatoes grown above, you can continue to tack on the savings by processing those fruits into recipes that can be canned. Packaged goods like salsa and pasta sauce can run about $3.00 a piece, however, you can create a pantry full for the low cost of the plants and reusable mason jars.

Add Some Flavor: Personal herb gardens have continued to grow in popularity over the past several years, and 2017 is no different. With many urban gardeners opting to plant their own seedlings, you’d think the retail need would decrease. However, the opposite may be occurring. With an influx of gardening comes an influx of use. Many home cooks are beginning to learn the benefits of using fresh herbs, and they’re not always cheap. Generally, a small bunch of herbs can run between $1-3. This in mind, most healthy plants are able to produce a consistent amount of bunches throughout the summer, and even into fall. If you have one plant that offers 50 bunches at $2 a piece, that’s a simple $100 earned for just one plant.

With so many incredible plant varieties to choose from, we’re sure your next garden will be a success! Whether you’re planning to sell your crops at the weekend farmer’s market, or stock a pantry your grandmother would be proud of, the practice of gardening has proven to be a money saver for you and your family. If you have any other great gardening tips, be sure to share them with us on Heartland Bank’s Facebook page.