If you’re like most people, the start of a new year is a time for reflection and resolutions to make the new year better than the previous. Of course, all those grand plans for losing weight or exercising more usually fall by the wayside as life gets in the way.
This year, Primerica encourages you to make a resolution that you can keep…a resolution to start preparing for your future! With all the changes of 2009 behind us, right now is the perfect time to start making little changes that could have big benefits in the future.
These four tips will help you get started.
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Create a Budget. Have too much month left at the end of your money? A few dollars here and there don’t seem like much at the time, but when added up can equal a big chunk of money you didn’t realize you were spending! Creating and sticking to a budget is an easy way to identify exactly where your money’s going.
- Trim Expenses. Think about the expenses you have every month. There may be ways to trim costs by foregoing some conveniences – like specialty cable channel subscriptions or movie theater outings.
- Consider the Latte Factor. Getting into the habit of saving isn’t hard, it just takes practice. Start by cutting out small expenses first and put the money you would be spending on those things into a savings account. For example, if you purchase coffee every morning, try making your own brew at home a couple of times a week.
- Become a Bargain Hunter. You could save hundreds or even thousands of dollars a year by shopping around! It takes a little effort, but clipping coupons, purchasing items in bulk at discount stores and holding out for sales for big ticket items can really add up.
You Can Do It!
This year, resolve to take charge of your financial destiny! Your local Primerica representative can show you more ways to free up funds and start saving. Call today for your FREE Financial Needs Analysis and get on the road to a fantastic future.
The holidays are upon us and many families are digging deep to find the cash for gifts and travel costs. According to a recent survey, the average U.S. household plans to spend an average of $683 on holiday related shopping, a slight drop from last year.1 With unemployment close to 10%, and many more families unsure about their financial future for 2010, finding ways of enjoying the season without busting the budget are more important than ever.2
Primerica presents three easy ways to make your money go farther this Christmas.
- Shop Smart. Both traditional retailers and online merchants often run sales or offer incentives like free shipping to encourage consumers to buy. Just shopping around a bit could help you save big.
- Stick to Your Budget. Decide ahead of time how much you want to spend on each person or gift and stick to it.
- Try a “Stay” Cation. Airfare for a family can really stress a budget – especially when the economy is slow. Even gas and other travel expenses could be a big strain on a family’s finances. Consider staying close to home this year. Start a new family tradition like watching a special holiday movie together, going caroling in your neighborhood or taking cookies and homemade crafts to a local senior center.
A few small changes can make a big difference and if you’re smart about your spending, you can still satisfy those wish lists – without breaking the bank!
Changing lives is what Primerica is all about – and that philosophy doesn’t extend just to the families our reps help to get back on track financially. The Primerica Home Office here in Georgia recently donated $10,000 to the Gwinnett County Public Schools Foundation Fund Inc. to help enrich the education of children in Gwinnett.
This donation will support academic and college access programs for low to middle income students across the school district.
“Primerica is proud to be a partner with the Gwinnett County Public Schools Foundation Fund,” says Anne Soutter, Vice President, Primerica Community and Foundation Relations. “Our goal is to make an investment in education for this county, and to be a part of the development of our future community and business leaders – our students.”
Primerica has a long, proud history of community involvement. Since 2000, the Citi Foundation, through Primerica, has contributed more than $300,000 to Gwinnett County Schools and Programs. Additionally, Primerica employees have donated hundreds of volunteer hours each year in service to the Berkmar Cluster Mentoring Program.
Learn more about Primerica.
This article is the second in a series about Primerica’s auto insurance and homeowner’s insurance referral program, Primerica Secure™. Offered through Insurance Answer Center, Primerica Secure allows clients to get multiple quotes from top rated insurance carriers so they can then make an educated decision about their coverage.
As a Staff Writer for Primerica’s in-house publications department, I talk to a lot of people – both our independent contractors and home office employees – who have saved money just by shopping around! Here’s another story from satisfied home office Vice President Mark Beauchamp.
Mark was with the same insurer for more than 15 years. He hadn’t felt the need to switch until he tried to add his 16 year old son to his policy. “My rates went up drastically when I added him,” says Mark.
That’s when Mark gave Primerica Secure a shot. “Not only did I save $600 annually, but the whole process was very easy,” says Mark. “I’ve already recommended it to several of my friends!”
It only takes about 10 minutes to get a comprehensive auto quote and the whole process is very easy. If you haven’t shopped around lately, give Primerica Secure a try. What do you have to lose? You might just save some cash! Talk to your Primerica representative today to get started.
Did you know, the average household “owes 20 percent more than it makes each year?”1 With the current financial crisis, that percentage may even increase as families go deeper into debt just to maintain their lifestyles.
Primerica recognizes that education is the first step toward helping families learn to develop a healthier financial life. We believe a good understanding of how money works is key to long‑term success. These three tips can help you get started.
1. Avoid the revolving consumer debt trap.
Most credit card debt is revolving debt. Because of the way interest is calculated on revolving debt, it’s hard for you to know exactly how long it will take to pay off your balance. All that interest can add up to big bucks along the way!
With fixed debt, you make payments over a set span of time. It’s easy to tell when the principal will be paid off and – even with the same interest rate and monthly payments – the pay off date is usually much sooner than with revolving debt. Consolidating revolving debt into one fixed rate loan can potentially eliminate those debts sooner and reduce your monthly payment.
2. Understand compound interest.
With a revolving debt account, compound interest can eat away at your financial health. But when you use compound interest in your favor, it can really help savings grow. The more you save, the more interest you can potentially earn on that money.
3. Make a lifestyle change.
When it comes to reducing debt, little changes can make a big difference. By separating “wants” from “needs,” and making the “needs” the priority in spending, you can begin saving toward your future.
It’s a good idea to have periodic checkups with a financial services professional to make sure you stay on track for your goals. Primerica offers a FREE Financial Needs Analysis that is designed to highlight problem areas and present strategies to deal with them.
In today’s economy, many families are worried about layoffs, foreclosures and mounting debt. They’re looking for ways to cut costs, save more and make smarter money choices for their future.
Primerica, believes one of the first steps toward getting on track for a bright financial future is to create better spending and saving habits. To help you get into the mindset of making better money choices, Primerica presents three easy ways to curb spending.
1. Track purchases. Little purchases made every day can add up to big money at the end of the month. Keep track of expenditures by either writing them down in a notebook or purchasing budgeting software. You might be surprised at just how much you didn’t realize you were spending.
2. Minimize ATM visits. ATM withdrawals can add up quickly if you aren’t tracking them. It’s easy to keep pressing that withdrawal button and even taking out the minimum $20 at a time can add up quickly. The best plan is to set a limit on withdrawals per week and stick to it.
3. Cut spending by small amounts first. Breaking the over‑spending habit isn’t likely to happen overnight. Start small, say reducing spending by 10%. Once you get used to that adjustment, you can work your way up to a more aggressive cost‑cutting strategy.
Discretionary spending (e.g. eating out, entertainment, movie rentals, etc.) isn’t a bad thing, but over‑spending – particularly in times of economic upheaval – can put you into a precarious position if debt becomes too high or if you are laid off.
As you learn to budget better and spend less, the next step is to start socking away all that extra un‑spent cash. Primerica’s free Financial Needs Analysis offers a comprehensive snapshot of your finances and presents clear strategies for getting out of debt, becoming properly protected, saving more and getting on track for a great future.
