Are you ready to start saving money in 2017? As a recovering addict, this is a great way to get back to normal after rehab. It's also a good idea to save money because chances are, you spent more than you realized during your struggle with addiction.
Below, you'll find tips that can help you with saving this year. If have a loved one in need of drug treatment in Greensboro NC, please consider calling Legacy Freedom in the new year. Ask about our 2017 outpatient rehab programs.
Want To Save Money? Use These Tips!
Set a Budget
When you choose to work on a budget, you're setting a goal of how much you can spend. It's a great way to hold yourself accountable and save money. Be sure to budget various types of bills including groceries, money spent on clothing, going out, dining out and entertainment. You might even choose to budget yourself when it comes to a car payment. This can be quite an expense and it isn't always necessary. If it's time to purchase a new vehicle or you're thinking about selling yours and scaling back, do so now. Stay focused on saving money during this time. It will help you not to overspend. It will also set the tone for your entire budget and year of saving.
According to rd.com, it's important to keep the following in mind when setting your budget:
- 30 percent: Housing and debt (mortgage/rent, credit cards, auto loans, student loans, etc.)
- 26 percent: Living expenses (food, clothing, utilities, transportation, medical, entertainment)
- 25 percent: Taxes (federal, state, local, and property; FICA and Medicare)
- 15 percent: Savings and retirement (401(k), stocks, mutual funds, college savings, etc.)
- 4 percent: Insurance (life, health, disability, auto, homeowners, etc.)
- The price of your home should not be more than 2.5 times your annual gross household income.
- Your total monthly debt payments (including mortgage, student loans, car, and credit card payments) should not be more than 35 percent of your monthly gross income.
- To retire comfortably, your nest egg should be about 20 times what you want your annual income to be.
Cut Up Credit Cards
You might enjoy spending on credit in the moment but eventually it has to be paid back. It sounds like a great idea at the time. Then, the bill comes and you own the company for your purchases. Credit cards can encourage us to purchase things we don't need or spend beyond our means because we don't see it come out of our account automatically. Make a goal to stop using credit cards in 2017 and see how much money you can save. You'll be surprised at the amount.
Are you ready to start saving in 2017? If so, good luck! It can be a challenge, but very rewarding in the end. If you need more tips, be sure to visit back with previous blogs, below:
- Ways Recovering Addicts Can Save More Money in 2017
- Ways Recovering Addicts Can Save More Money in 2017, Continued
Dependable Drug Treatment in Greensboro NC In 2017 Starts With Legacy Freedom
If you’re suffering from an addiction and need help in the new year, consider Legacy Freedom’s alternative therapy for drug treatment. Our success rate for drug treatment in Greensboro NC is higher than traditional rehab facilities that require you to stay in-house until the program is complete. We know how hard it is to beat addiction. That’s why we’ve come up with a better, more successful program that will help. Addiction can leave you feeling sad, lonely, and angry. You are not alone. Legacy Freedom of Greensboro is here to help you get back on track to a happier, healthy, drug free life in 2017.