Articles - Archived Money Matters

Summer Financial Fitness

Summer not only comes with a rise in temperature—it also comes with rising prices on just about everything. That means now is a great time to consider possible ways you can curtail spending. Here's an interesting scenario to get you thinking.

In 2008, Americans spent roughly $25 billion on diet supplements and $16 billion on bottled water. For many, diet supplements did not work in the long run, and people found themselves right back to square one. Instead of buying supplements, try losing weight by eating smart and getting some exercise. Most nutritionist suggests you eat five to six smaller, highly nutritious meals to keep your metabolism running efficiently. This provides the body with an ongoing supply of essential nutrients and energy to burn calories, fat and shed pounds.

Now, let's look at the expense of bottled water. You can save hundreds of dollars a year simply by drinking tap water. You can even enhance its quality by installing an inexpensive filter. If you do get bottled water, be kinder on the environment by purchasing reusable bottles that have 30 percent less plastic.

To cut spending further, think about how much it costs to live monthly. Be honest with yourself! Take the time to track spending to the penny. If you're still coming up short and can't pinpoint where all the money is going, it may be a good time to contact Local Government Federal Credit Union's Financial Wellness staff for help with a spending plan and personal financial goals. And remember: This service is free of charge to members. Give them a call at 877.367.5428. They're always happy to help!