It’s a New Year and time to make better choices for your money.
For the past 2 years, we’ve had a payroll tax cut go from 6.2% to 4.2%, which meant we got more money in our paychecks.
But this year, the payroll tax will go back to the normal 6.2%.
What this means is that you’ll get less money in your paychecks!
So it’s time to prepare yourself to spend less and rework your budget.
The beginning of the year is the perfect time to reflect on the past year to see what worked and what didn’t work for your budget.
It’s also a good time to trim the fat and see where you can save. What can you live without or lower the cost of?
Recurring costs like car and life insurance, energy bills, phone, and cable TV should be considered. If you can save even as little as $10 in recurring costs, you’ll save $10 each and every month without having to do anything else. And in a year, you’ll have saved $120.
Check out comparison site Compare the Market, to see where you can save on insurance, energy, phone, broadband, and more.
It’s a good idea to compare the costs for these services every year to see if you’re getting the best deal. And if you can save money just by switching providers, you can use that money you saved on something else, like paying off credit card debt, planning a vacation, or adding it to your savings.
This post was provided by Compare The Market.