Money Matters

With a little bit of sweat equity (and a touch of discipline and planning thrown in), you can learn how to make the most out of every dollar you spend.  But in this economic climate, it’s easy to feel overwhelmed and out of control with your finances. So I live by the motto ‘KISS’ or ‘keep it simple smarty’ when it comes to organizing your finances and ‘keep it simply savvy’ when it comes to spending those hard earned dollars.

Here are some tips on how to exercise control and become a savvy spender:
 
Always Stretch
Stretch each dollar by using loyalty program credit cards to buy everyday items. For example, with an Air Miles’ credit card and an Air Miles member card you can earn double rewards on items such as groceries and gas. Pay your balance every month and your credit score will soar while you are building up reward miles. Also, become a master comparison shopper – not only for price but also for specially labeled products that offer extra rewards when using loyalty cards or credit cards. That way you turn the reward double dip into a triple treat.
 
Warm Up
Don’t waste your time and money on things you won’t use, like an expensive gym membership when you can walk, run or bike.  Spend on what you love! Do a daily audit of where your money goes – cutting out just $5.50 a day adds up to over $2,000 in one year which can go to something you really care about.
 
Stabilizing your Core
Don’t spread the wealth too thinly – savvy spenders pick one value-added credit card with loyalty rewards or cash back – and stick with it to maximize every penny.
 
Bulk Up!
Love your lists – don’t grocery shop without one and don’t forget to bulk up on the specials for the non-perishables you buy regularly.

Cool Down
Use the power of the 24-hour rule. Set items aside for a day, cool down and you will take the ‘impulse’ out of buying non-essentials. 
 
Learning how to whip your finances into shape and becoming a savvy spender will pay huge dividends far beyond this difficult economic period. For example, you can consider all those reward miles as an emergency bank account to pay for an unexpected trip or replace a broken appliance - it’s all about strategic spending and stretching your dollars.

And don’t forget good money habits are as easy to learn as bad ones!