Sunday, January 8, 2012

Make 2012 Your Year to Save Money

It’s hard to believe another holiday season has come and gone; and a new year begun. According to Dr. Rebecca J. Travnichek, Family Financial Education Specialist with University of Missouri Extension, a new year often brings new resolutions to improve your health and your wealth. The new year also tends to highlight diminished bank accounts and larger than anticipated credit card statements. Are you determined to take care of your finances and save money in 2012? Not sure how to go about changing your financial situation? The website, Publications.USA.gov, has numerous publications to help you KEEP your hard-earned money and become more financially stable is 2012.
Here are four such resources to get you started:
Whether you’re just starting out, or considering retirement, “Money Tips for all Ages” provides great guidance. It is designed to meet you where you currently are in life, be it a teenager learning about income; running your own household in your 30s, 40s, and 50s; or wondering how to best manage your golden years.
Regardless of your age or how much money you have, it’s important to know about your credit report–how to access it, and what it means. “Credit Reporting 101” will guide you through obtaining your free credit report, and making changes, should you find any errors.
Normally, you choose a bank to help keep your money safe and to build savings faster. But make sure you’re alert for hidden fees and penalties, as “Bank Accounts are Changing.” A good place to start looking for costs you can avoid is to find out if there is a limit on the number of checks you may write each month or on debit card transactions.
There are lots of ways to save when using your credit card or getting a bank loan. “51 Ways to Save Hundreds on Loans and Credit Cards” encourages you to set up automatic payments from your checking account to help avoid accidental late fees on a credit card, or to consolidate multiple student loans into one with a lower interest rate.
University of Missouri Extension also has numerous resources and workshops to help you manage your money, save for retirement, recognize scams, identify predatory lending practices, protect your identity, and much more. For more information, contact your local University of Missouri Extension office or email me at TravnichekR@missouri.edu.

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