Here’s a collection of insightful money tips our community is thankful for this year.
As Thanksgiving approaches, it’s time to prepare for turkey, festive decorations, and your growing list of Black Friday savings. Amid the hustle and bustle, let’s take a moment to appreciate the financial wisdom that enhances our lives.
We reached out, asking the community, “What financial advice are you grateful for?” The responses were fantastic! Here are some cherished tips:
Make your money work: “Don’t let your cash sit idle!” advises Heather. “Use high-yield savings accounts for funds that need to be accessible.”
Save on payday: Carol shares, “Set aside some cash where you can't easily see it. In the 80s, I saved $50 biweekly in a money market fund, which kickstarted my journey to financial stability.”
Negotiate prices: Beth insists, “Always ask for a discount – there’s usually a coupon, rewards program, or other savings available. If you don’t ask, you won’t know!”
Establish an emergency fund: Kristin recalls, “When I learned about my job loss, my emergency fund really calmed my nerves. I advise everyone to build one for unexpected situations like job changes or medical emergencies.”
Pro-tip: A high-yield savings account is perfect for your emergency fund.
Don’t miss out on free money: Melissa emphasizes, “Always contribute enough to get the full 401(k) match. Don’t leave free money behind!”
Small savings matter: Phyl reminds us, “Always factor in percentages. Saving five cents may seem small, but it's 50% if you save on ten cents.”
Keep credit card balances low: Annie learned from her dad the value of paying off credit cards monthly. “He taught me early on that it’s best to pay off your credit card in full each month,” she shares.
Invest early: Sarah, part of our team, decided to buy a home at 26. “Thanks to diligent saving and making extra mortgage payments, I paid off my house in ten years,” she shares.
Pro-tip: If homeownership is on your mind, now’s a great time to compare mortgage rates.
Have a money tip you’re thankful for? Let us know your advice!
