Get a Savings Plan in Place in 2015

PHOENIX - Jan. 22, 2015 - PRLog -- With the start of the New Year, many people make goals or “resolutions” many are kept, many more are not.  One of the best goals you can make for 2015 is to reduce excess spending and make smarter financial decisions that will position you well for the future, whatever it may bring.  Below are some easy fixes that won’t greatly reduce your lifestyle, but will help you save money and start the year out on a positive financial track.

·         Start an emergency fund, while this doesn’t seem like a money saving tip, having 3-6 months’ worth of living expenses can help you in case of something unforeseen.  It will also alleviate you having to cash out retirement accounts or using high-interest charge cards to make ends meet.

·         Begin paying off debts.  Get rid of high interest rate credit cards.  If you owe $10,000 on a card and are paying around 30% interest, will cost you $3,000 each year.  Don’t make your goals so lofty you can’t attain them, perhaps target 1 low-balance card and pay that off, then go on to the next.  You can also call your credit card companies to see if they will consider lowering your interest rate.  If you have paid on time, they may lower it.

·         Reduce or quit an expensive habit.  We don’t want to jeopardize your lifestyle, but it could benefit you to quit smoking, reduce drinking, going out for dinner and other free-time expenses like golf outings, plays and live music, etc.  Again, moderation is key—turn that weekly dinner and movie into a once a month activity.

·         Buy a programmable thermostat.  If you don’t already have one, invest in a programmable thermostat so you’re not heating and cooling your home when you’re not there.  It can reduce your energy bill from 5-15%.

·         Look at your memberships and get rid of them if you’re not using them.  Do you belong to a country club and rarely use the membership—ask yourself if you’re getting value from it.  Are you using your gym membership?  Don’t quit your gym if you’re using it, but if not, cancel it.

·         Eat at home more.  Cooking at home will not only help your pocketbook, but you can control the ingredients used to reduce sodium, fat, cholesterol, etc.  Not only will you save money, but you will be healthier too.  For those times when you do want to splurge on a dinner out, find money saving coupons in the newspaper, magazines or online with sites like Restaurant.com.

·         Use coupons.  Get the Sunday paper and clip all the coupons you will use.  There are also online sites like www.coupons.com that offer widely used coupons.  Don’t use coupons for items you don’t need, but use them for everyday items used by your family to save money.

·         Unplug items you’re not using.  Leaving appliances and devices that aren’t in use plugged in can cost around $100 a year.  If you only use your toaster on weekend, unplug it!

·         Don’t use out of network ATM’s that end up costing you in extra fees.  That’s all there is to say about that!

·         Get a free home energy audit.  Most utility companies offer free energy audits that can help determine ways to reduce your monthly energy costs.

·         Give up bottled water.  Get a water filter and use refillable bottles.  Save up any plastic bottles you may have from cleaning products or aluminum cans and take them to a recycle center for some extra spending change.

·         Use a financial advisor and accounting firm to help organize your personal and business expenses.  Having a trusted advisor that can help you develop a budget and stay on top of expenses, business expenditures and can advise on tax issues and help plan for them is invaluable.

“Setting financial goals and staying committed to reducing unnecessary costs in the coming year is invaluable,” said Kristina Haskell, founder of Avalon Accounting.  “We urge people to create a budget, plan for tax time and set money aside should unexpected issues arise.  We like to see our clients set themselves up for financial success—and we are here to guide them and help them make sound decisions so they can grow their business and stay financially solvent.”

Avalon Accounting, LLC offers QuickBooks training and is trained in compliance with IRS procedures and state tax agencies, including SBA 8a reporting requirements.  They are experts in advising their clients on budgeting, financial planning and how get the most tax deductions.  Their goal is to help clients position themselves for a financially advantageous 2015.

About Avalon Accounting:

Kristina Haskell is the CEO and founder of Avalon Accounting, LLC which she started in 2002 in order provide a higher level of accounting, consulting and tax services to individuals and small to medium sized business.  The company was founded on the demonstrated ability to deliver mission-critical results using strategic business practices.

In order to better serve their prospective clients, Avalon Accounting offers a free initial consultation.  This is nearly unheard of in the accounting industry.  You can reach Avalon Accounting, LLC at 602-268-9686, info@avalonaccounting.com  or learn more at www.avalonaccounting.com.