11/04/2011

New Year's Resolutions Now

New Year's Day may seem distant, but don't let that stop you from making a resolution today to start saving. Your personal wealth is always an important thing to keep striving for. With so many resources, it's easy to find effective ways to save. Find out just how much your assets are worth with our personal wealth estimator, learn about savings and investments, and take control of your debit and credit. Learn how to save for auto purchases, emergencies, or a home. Take control now.
Savvy Savings: Information You Need to Know About Savings Accounts and Resources
Budgeting Resources: What to Remember About Your Budget

Tips for Saving:
  • Make a budget: Visit our Virginia Saves blog for tips here
  • Save your loose change.  Putting aside fifty cents a day over the course of a year will allow you to save nearly $200.
  • Take the amount the item costs and divide it into your hourly wage. If it’s a $50 pair of shoes and you make $10 an hour, ask yourself, are those shoes really worth five long hours of work?
  • Shop for food with a list and stick to it.  People who do food shopping with a list, and buy little else, spend much less money.
  • Communicate by e-mail rather than by phone.  If you're on-line, e-mail communications are virtually free.
  • For more savings tips click here
  • Learn about the four types of savings recommended by financial advisors on our Virginia Saves Blog- Four Golden Rings: The Four Types of Savings
  • Become a Virginia Saver! Enroll now and take your first steps to building long term personal wealth.
  • Learn how to save for emergencies, a home, or automobile- Click here.
Earn More Money Before the Holiday Season:
  • Apply for a seasonal position: A lot of retailers hire on new members to their teams during the holiday season. Not only is it a way to build cash, but also can be an easy way to establish contacts, build your resume, and learn important new job skills.
  • Sell unwanted items like DVDs, video games, or comic books to specialty stores which generally give you a better deal. For collector’s items or items of higher value, list online through auction websites.
  • Hold a garage or yard sale to get rid of your remaining items or things of lower value. If you don’t have much to sell, consider hosting a joint or neighborhood sale to increase traffic.
  • Take advantage of opportunities around the neighborhood.
Controlling Your Credit:
  • Gifts bought on a credit card usually end up costing more in fiance charges
  • Unexpected post-holiday expenses might postpone your credit card payment plan, lengthening your credit card debt.
  • Set a predetermined spending limit
  • Don't apply for new credit cards just because of the discount
  • Visit our blog and learn more about the full cost of holiday credit card spending here: The Cost of Holiday Credit
  • Use our Credit Card Cozy as a reminder to think before you spend.
Tax Tips
  • Get your free Credit Report: The only "free" credit report can be found at http://www.annualcreditreport.com/ you are entitled to one free report from each of the three credit reporting agencies. This website is your portal to get all three reports 
  • Avoid High-Cost Anticipation Loans. These loans actually worth more than you get. They have high interest rates that can sometimes cost even more than your tax credit. By planning ahead, you can save money so that you will not have to take out one of these costly loans, and have more money to put forth towards savings
  • Stockpile Savings: Save as much as you can in preparation for your lean season. Even if there are no unexpected costs during the year, having the extra cash provides a cushion as well as financial security

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