Are you doing what you can in order to maintain financial wellness? For advice on how to budget and save money, read on!

6 Financial Wellness Tips

Make the Most of Your Savings

Learning how to budget and save money can offer you more options and flexibility throughout your life, helping you put an actual dollar figure on your goals and timeline. 

For improved financial wellness, consider making the most of your savings by getting out of debt, automating your savings with automatic withdrawals from every paycheck, adding spending alerts and limits to your credit cards, and auditing your expenses each month. 

Keep an Eye on Spending

To save money, it’s important to learn how to budget so you can save more and spend less. Identifying the areas of spending that are essential and focusing on them (as opposed to essentials you can live without), you can improve your financial wellness just by knowing where your money is going.

For help, keep a running list of your essential expenses, like rent or mortgage, car payments, and groceries. With these costs in mind, you can see what you’re spending and what’s leftover each month. A second list of essentials you can live without can help you cut back and keep frivolous spending in check.

Focus on Energy Efficiency 

Your monthly electric or gas bill can give you some insight into how much you regularly spend on energy. Making sure your appliances are working properly and efficiently can help you maintain financial wellness. ENERGY STAR®-certified appliances like our AprilAire Whole-House Dehumidifiers (Models E080, E100, and E130) perform better, use less energy, and increase overall comfortability. 

In the summertime, dehumidifiers can help you save money and energy during the hot, humid months by reducing the burden on your air conditioning unit.

Compile a Family Savings

The bigger your family gets, the higher your expenses! From a young age, teach family members how to budget and save money by working together to reduce expenses. Cooking meals at home instead of eating out and trimming back on spending in nonessential areas are just some ways to improve financial wellness and save up for your dream family vacation.

Engage in Free Entertainment

No matter how big your family is, entertainment expenses can add up quickly but you can find ways to keep these costs under control.

If you’re wondering how to budget and save money on entertainment, look no further! Look for free or low-cost family activities, like park picnics, hikes, museums, and more. Libraries are a great option for those looking to maintain financial wellness, as they offer a wealth of free books, movies, and kid-friendly events. 

Be Picky With Subscriptions

It seems like every company has a separate steaming service now and that can certainly skyrocket spending. For improved financial wellness, be picky with your subscriptions and share accounts with family and friends when possible to keep costs down.

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