Women Today

Gina Nytes, Kaukauna branch manager for Citizens Bank, brings us this week's financial tip:

Are you looking for some practical tips for simple every day saving? Well, look no further.
• I am sure the saying, “out of sight, out of mind” rings a bell. But have you ever considered that when it comes to money, out of sight suggests in a savings account at your bank and in sight generally means in your wallet? Help yourself by keeping your money out of sight by signing up for an automatic savings plan so that your money is automatically moved from your paycheck to a savings account.
• When it comes to entertainment, be thrifty. Keep in mind that having a good time with family and friends doesn’t mean that you have to spend a lot of money. Instead of going to a pricy restaurant for dinner, consider hosting a pot luck or a backyard cook out. If you’re looking to go to a movie, skip the concession stand or go to the second run theatres.
• Continue to pay off debts until they are paid off and beyond. Many of us have monthly loan payments, whether it is for a car loan, student loan or mortgage. When you’ve finally paid off a loan, consider keeping up with your payments but to yourself by depositing the money into your savings account.
• Know where your money goes. Keep track of all of your spending by writing down all of your purchases for a week to see where every dollar is going. Then evaluate your spending habits and determine where you can spend less and ultimately save more.
• Pay your bills as soon as they arrive in the mail. You may dread when your mail is filled with bills but, instead of putting them aside and waiting to send in a payment until later, consider writing out a check right away. Even if you can’t pay the entire balance, whenever possible pay more than the minimum amount due.