Easy money saving tips from financial expert
Lynnette Khalfani-Cox is known as The Money Coach, and her expertise shows. She has many easy and convenient tips that can help individuals and families save.
JP Morgan Chase recently released some statistics on how a typical middle-income household needs $4,800 in cash savings for an emergency fund such as a job loss or a medical crisis and 57 percent of families have less than $1000 and 40 percent of adults have no money in savings at all.
Saving money is typically high on people’s list of New Year’s resolutions, but it doesn’t always happen as planned. So people think it is too hard to build up some savings, but it doesn’t have to be a tedious or traumatic process. There are some easy things everyone can do to get on the path of good financial health.
Some of the helpful tips Lynnette Khalfani-Cox offered include:
- Auditing your subscription services such as gym memberships, magazines or TV streaming and get rid of those that you no longer use
- Paying down credit card debt
- Contribute to employer-sponsored savings options such as a 401 K especially when you get
- Use windfalls wisely, such as tax refunds
- Automate banking as much as possible to have electronic transfers go directly into savings, so it happens without thinking about
Financial expert and busy mom of three, Lynnette Khalfani-Cox, The Money Coach and author of 12 books, including the New York Times bestseller Zero Debt: The Ultimate Guide to Financial Freedom spoke with Michelle Tompkins for TheCelebrityCafe.com about her life and career, offered savings tips, explained JP Morgan Chase’s survey, what is #SavingIt, and more.
See the full interview here: