Being a Smart Saver in 2016:
Tips for Accumulating
Wealth
There are plenty of simple strategies for starting a sensible savings plan in 2016. One need not be wealthy to build wealth, according to Jameson Van Houten, CEO of Stonegate Capital Advisors in Scottsdale, Arizona.
Personal health Long-term health is a smart place to begin a savings plan.
Consider getting a medical checkup early in the year to find
out if there are any serious issues that need attention. In addition, it is wise to do an insurance checkup as well,
making certain that policies are paid up and are able to cover any serious health issues that
might arise.
Keep an eye on food prices
One place where everyone can usually do a bit of budget-tightening is at the
grocery store. Are there items that could be cut? Can some non-nutritious
items be replaced by healthier choices? What non-essential foods and
drinks can be removed without any difficulty? An emphasis on healthier food choices and changing prices of
various food categories can go a long way toward trimming the food budget
significantly.
Credit card debt For consumers who have any card debt, 2016 is a good time to consider getting rid of it. There is no reason to carry a balance if it is not necessary
to do so. Card rates, even for “reasonable” credit cards, are among the first things that smart consumers
should cut out of their budgets. Consider paying off the smaller
balance cards first and then tackle the larger ones, making a priority of the cards with the highest interest
rates.