Reboot Your Finances

Life is constantly evolving, and financial stability can feel just out of reach. Whether you’re adjusting to new routines, managing rising costs, or just trying to make ends meet, this is the perfect time to reassess your financial picture and explore some money-saving strategies. At MSA, we’re here to help you craft your own financial reboot. A great place to start is reviewing your debt and identifying ways to boost savings.

Getting a Handle on Your Debt

Begin with a realistic tally of all your debt. List your credit card balances, student loans, and mortgage payments. Include each lender, interest rate, and payment terms. This can give you a clear view of your financial landscape and help you figure out how to fit debt payments into your budget.

Feeling overwhelmed? You’re not alone. Many people respond to debt emotionally, often paying whichever bill shows up first, which isn’t always the most strategic option. A Money Coach can walk you through your options and help you create a realistic action plan tailored to your situation.

Tips on Saving Money When You Shop In-Store

Two main actions that can improve your finances are to earn more or spend less. While boosting income may take time, spending less can start now with a few smart shopping habits:

• Cut out the cuts: Choose less expensive cuts of meat and poultry that still offer great nutrition—chuck roast instead of sirloin, chicken legs instead of breasts. 
• Buy basics in bulk: Get discounts at big box stores on paper products, dry goods, and toiletries. Share the cost with neighbors or friends if you don’t have storage space. 
• Use coupons and generics: Have the kids help find coupons online. Consider generic brands—they’re often just as good as name brands but cost much less. 
• Track the savings: Small savings on each trip can add up. Saving $25/month on gas and groceries equals $300/year or more. 

Tips on Saving Money in the Digital World

Online shopping can be convenient—but also tempting. Use these habits to help you stay on track:

• Follow the 3-Day Rule: Before clicking “buy,” wait three days. Ask yourself: 
  • Do I really need this? 
  • Is this impulse or planned? 
  • Can I afford it? 
• Watch for shipping costs: Some websites offer free shipping with a minimum purchase, but be sure your total spending still fits your budget. 

Now what? Make it count.

Even modest savings add up. Let’s say:

• You save $6/week using shopping tips = $312/year 
• You skip one $25 impulse purchase per week = $1,300/year 

That’s $1,612/year you could put toward paying off debt or boosting your emergency fund.

Over 10 years, investing that $1,600/year at 5% interest could grow to over $20,000. Not bad for simple habit changes!

Need help getting started?

Talk to an MSA Money Coach. They can help you:

• Review your debt and prioritize repayment strategies 
• Build a realistic and sustainable budget 
• Establish an emergency fund 
• Balance multiple savings goals 

Schedule a session with a Money Coach and reboot your financial life today!

Past performance does not guarantee or predict future performance. Investing involves risk. Your investments may gain or lose money over time. Potential investment outcomes listed do not reflect actual investment results and are not a performance guarantee. Individual investment results will vary.