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How to Save (on a tight budget)
In today’s economic uncertainty, many feel there isn’t enough left over from your paycheck to adequately save. CAPTRUST stresses that making small changes over time is ideal as to not get overwhelmed with the process.
- Identify Discretionary Areas to Cut Costs such as dining out and take out, entertainment and hobbies
- Make Small Changes That Add Up- Shop sales and use coupons, cancel unused subscriptions, pack your lunch, exercise at home or outside.
- Prioritize Savings on a Limited Budget by Building a Strong Foundation, set Smart Spending Strategies, and Maximize Resources
For more details, view the recorded webinar by CAPTRUST, click here.
To schedule your one-on-one appointment with CAPTRUST, click here.
How to Make a budget
In the theme of our mid-year check up, TIAA walks us through how to manage bill and expenses by making a budget
One budgeting technique is the fixed and flex budget. This involves grouping your expenses into two categories:
- Fixed Expenses- the must haves like food and utilities
- Flex Expenses- the nice-to-haves like a new watch or a spa day
The 50/30/20 Rule is another technique which divides your month income into 3 buckets:
- 50% or less: Includes necessities like housing, utilities and student loans
- 30% goes to nice to haves such as entertainment, hobbies and travel
- 20% or more if possible goes to savings and paying down debit.
For more information on How to Make a Budget read TIAA’s full article by clicking here.
Engagement Corner
TIAA: Help boost your financial know-how with TIAA’s live webinars — see the flyer below for topics and dates. To see currently scheduled live webinars or previously recorded on-demand webinars, visit www.tiaa.org/webinars2025.
