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Saving money can be intimidating and stressful, but it doesn’t have to be hard.
While it may take time to achieve your savings goals, building responsible habits will get you on the right track.
“Everyone’s situation is unique, but I think there are some things that always stand out,” said Chip Snively, a professor of finance at UNC Kenan-Flager Business School.
Here he shares five solid tips to help you save better in 2021 and beyond.
Save first, spend later
We tend to spend money on things and then save the money we have leftover at the end of the month. The problem with that is we’ll always have something to spend money on. Instead, Snively suggests to save first and then scale your lifestyle and standard of living based on the remainder.