Make this month your Frugal February. Since it’s the shortest month of the year, it’s a great time to practice being frugal. Here’s how to boost your savings with these four easy hacks.
Remove your card from retail apps
It’s easy to tap and pay – and spend too much — when your credit card is stored in an online retail site’s app. Take a break from easy spending and remove your card this month. You’re less likely to spend when you need to enter your card for each purchase.
Commit to a spending freeze
Pick a category where you spend the most money. Then make a commitment to “freeze” your spending in that category for 28 days. If your biggest expense is books, for example, you can still get the latest read. Visit your library or download their free, e-book app to check out a book on your device. You can also download an audio book app available to the public regardless of location. Remember, data charges may apply so contact your carrier.
Take a monthly saving challenge
February is the perfect time to try a month-long savings challenge. Modify your 52-Week Challenge, turning it into a 28-day challenge where you commit to saving a dollar a day, for example. Use the 52-Week Challenge chart or create your own, specifically for the month.
Set up weekly check-ins
How is your Frugal February going? Hopefully, you’re putting away a few extra dollars here and there. If you’re using an online money manager, log in and compare your expenses between now and this time last year.
February is the shortest month in the year so it’s even easier to hit your goals! At the end of the month, take whatever you’ve put aside and add it to your savings. You’ll earn dividends to boost your savings even more!
Article provided by Local Government Federal Credit Union
The advice provided is for informational purposes only.