The spending trend of the country is changing to a saving trend. It is a core reaction to tough economic times. Cutting back is now all the rage.

 A large group of families and individuals do not understand where they spend money. With juggling family responsibilities who has the time? The people that make progress on savings goals and establish wealth, they make the time. 

It is all about choices

When helping clients understand expenses the discussion often starts with “We don’t know where the money goes or where we can find more to save?”  When they really assess how money is spent, opportunities for savings appear.  This enables progress on financial goals or a bridge through a tough financial time.  

 Making better choices  – It is not about giving up everything. Choices are daily decisions and compromises on where to spend money. Changing your language to “making choices” will help change your attitude towards reducing expenses.

Reducing expenses is choosing to keep your morning Dunkin Donuts coffee, but bringing your lunch. It is the choice between keeping snacks in the car or emergency stops at McDonald’s.

  •  Eating out – Make better choices of when and where you eat. Bistros to chain restaurants are offering deals, especially during the week.
  • Google  – Search for coupons codes before online shopping. www.retailmenot.com or www.momsview.com.
  • Mortgage– If you haven’t taken advantage of low mortgage rates, check out refinancing to save each month and thousands over the life of the mortgage.
  • Cars – Keep your car 1, 2 or 3 more years than planned.
  • Insurance – Shop around for auto, home and umbrella insurance with a broker. Brokers work with multiple companies and are paid to shop around for you.
  • Entertainment, Memberships, Subscriptions & Lessons – These small items add up. Select what your family really enjoys.

Advisory Services offered through Axiom Advisors, LLC. A registered Investment Advisor Securities offered through Cambridge Investment Research, Inc. a Broker/Dealer member FINRA/SIPC Axiom Advisors, LLC and Cambridge Investment Research, Inc. are not affiliated. 

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