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, a financial services industry leader, 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 clients get into the mindset of making better money choices, Primerica presents three easy ways to curb spending.
- Track purchases.
Little purchases made every day can add up to big money at the end of the month. Clients are encouraged to keep track of expenditures by either writing them down in a notebook or purchasing budgeting software. Families might be surprised at just how much they didn’t realize they were spending. - Minimize ATM visits.
ATM withdrawals can add up quickly if the client isn’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. - Cut spending by small amounts first.
Breaking the over spending habit isn’t likely to happen overnight. Primerica urges clients to start small, say reducing spending by 10%. Once a family gets used to that adjustment, they can work their 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 families into a precarious position if debt becomes too high or if the breadwinner is laid off.
As families 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 a family’s finances and presents clear strategies for getting out of debt, becoming properly protected, saving more and getting on track for a great future.
[…] Three Ways to Curb Spending […]
I am glad to see that PRIMERICA is getting PRO-ACTIVE and telling the PRIMERICA story.
WE have a great history of doing what is right based on sound financial principles and fundamentals that have never changed since the birth of ALW.
Keep tell the good story!
Wayne
Imagine I have not taken the time to come and see what great things that our company is constanly doing to benefit the families of North America. As I look at this website and the information that is here, I am thinking that I need to do more to help people become Properly Protected and Financially Independent and most of all Debt Free and here is a great tool that will instill the information that we talk to our clients about.
Great job in the producing of this website I know just as the comapny has always beoome better so will this site.
Randy Bourque RVP Primerica
I am so glad to be a Representative with Primerica. In 1986 I turned down Primerica because our banker of whom we banked with for years said that they can help us with our farm. We were going through some challenges. Prices hit rock bottom and I lost my job. We had a family farm for over four generations. All of a sudden the bank said they had to foreclose on us. Here was my family farm going bye-bye. Not only that, we had money missing. That’s when we got a lawyer. The minute the banker found out we were getting a lawyer, he fled to Florida of where he got arrested for embezzling money. Ten years later Primerica came to our house and we sat down with them. I was totally blown away with what they could do for us. And not only that, we’ve got the same person that tried to save us the first time. Now I call him HERO. He saved us again. Thank-you Primerica. You are a blessing. People need to read this because we went through a foreclosure and its not fun. With Primerica, we don’t have to worrry with that. I am very thankful every day.
Marjorie Bandas
Glencoe, Minnesota 55336