Let’s face it: we could all benefit from saving an extra dollar here or there. Whether you are trying to save for retirement, for your family, or simply for your peace of mind, having extra money in the bank is never a bad thing. As the New Year is around the corner, now is a great time to start developing money-saving habits that will serve you and your family well in the long-run. Here are some tips from our currency exchange in Villa Park.

Budget, Budget, Budget

Establishing a realistic budget that you will follow is a crucial step in helping save money. It is ideal to dedicate 50 percent of your income to necessities like food and rent, 30 percent to your wants, and 20 percent to your savings. Sit down and figure out how much money needs to go where depending on how much you make.

Tweak Your Daily Routine

If you always stop for a coffee on your way to work, try to make it at home instead. If you go out to eat five times a week, try to limit it to two. Small changes that you make on a daily basis can add up and have a big impact on your bank account. Figure out small ways that you can cut back to help save more money.

Set Achievable, Measurable Goals

Saying that you want to save more money in 2019 is a good start, but it likely won’t get you very far. Setting specific goals, like I want to save an extra $200 a month, is a more realistic way to approach this goal. Start small and continue to work your way up.

If you are in need of financial services along the way in 2019 and beyond, stop by our currency exchange in Villa Park!