Saving Money

Thu, Jan 29, 2015

Bankruptcy

100We’re all supposed to save money. Some reasons are obvious, some not so much. And of course saving money can mean different things. For instance, we can save money on something and have more for something else and we can also save money to have it for a specific purpose. They’re sort of connected in that way—you can save money on items or services so you can add it to the money you are saving for a specific purpose. Kind of obvious, but it turns out that saving money isn’t as easy as you think.

And what does an attorney’s office have to say about saving money? Well, a lot really. For instance, we know that sometimes that nest egg you saved will go towards legal bills. It’s important to have money saved for purposes like that–because you never know when you might have an emergency requiring those funds, right? In addition, attorney Christopher D. Smith, Sr. is designated as Board Certified in Consumer Bankruptcy by the American Board of Certification. This means that he sees a lot of people who are wishing they could have saved money instead of spending so much. Sometimes it’s hard to avoid spending money you don’t readily have, therefore getting into debt. This could happen because of job loss, divorce, death, illness, etc. And sometimes living to excess is something that could have been avoided or mitigated. Thus, this attorney’s office knows the importance of saving money.

There are lots of ways to save money on items and expenses. Sales, coupons, giveaways, deals, bargains, buy one get one sales, etc. We have lots of ideas on how to save money on the budgeting section of our Pinterest site.  Some highlights include:

There are also many ways to save up money for big expenses or events like vacations, retirement, cars, homes, and more. Ways to do this are of course part of the way you can save money on your groceries and more. The more you save on your groceries for instance, the more you would have towards a vacation. But of course, often you end up spending the money you have saved on the groceries on other smaller purchases and things. It doesn’t seem such a big deal to treat yourself to dinner out when you saved $100 on your groceries. Of course, that puts a damper on saving for big things.

So how can you do that? There are lots of ways you can budget for large expenses. For instance, you could have a special savings account funded directly from a paycheck. Or perhaps you have a rewards credit card that automatically puts the savings into a savings account so you don’t have a chance to spend it. You could also manually put away $10 a week into an envelope towards the vacation. Retirement accounts are a great way to save money towards retirement, by auto withdrawal or manually depositing each year.

The bottom line with saving money is that you need to actually do it for a greater purpose. It is fun to coupon and scrimp and save in creative ways…but make sure you put that money to good use—whatever that means for you. For instance, even if you save up that money for a vacation, it still might be better to pay off that credit card with the high interest rate first. It’s key to pay attention to these matters and figure out what might save you more in the long run. Peace of mind is also a great way to relax…could be better than a vacation! But a long week away could be just what you need, too.

Attorney Christopher D. Smith, Sr. is designated a Board Certified Consumer Bankruptcy Lawyer by the American Board of Certification.  SmithLaw is located in Lakewood Ranch, Florida.  Attorney Smith concentrates on bankruptcy, civil litigation, probate, estate planning, and elder exploitation cases in the Sarasota and Bradenton area.  Call 941-202-2222 to learn more.  SmithLaw offers free consultations in certain areas, including consumer bankruptcy, probate, and personal injury matters.

Image: Some rights reserved by 401(K) 2013

Comments are closed.