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Financial Accountant Newark

Daylight Savings; It’s the Time to Save

Daylight Savings has now arrived — we’ve jumped ahead an hour in an attempt to save daylight. Yet have you realized that in reality, each day remains 24 hours long? And that fact won’t change no matter how often we change the clocks.

In a similar way, we save money by changing our spending habits. But are you changing your spending habits in a way that actually benefits you?

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Financial Accountant Newark; How to Save Money this Spring

Allow me to illustrate …

Suppose you spend $$ a week on groceries, but you find something — clothes, power tools, exercise equipment, etc. — that costs twice that. You decide that for the next 4 weeks you’ll spend only $ and save the other half. Once you have the right amount, you purchase that item.

So yes, in a way you’re saving. But at the end of the month, you have no profit to show for your savings.

How to Really Save Money

You can save in at least 3 legitimate ways. And trust us — you’ll benefit from these decisions.

1. Pay Yourself

Yes, you save when you pay yourself. Once you get paid, two accounts need money before anything else: your retirement fund and your emergency fund. Don’t make excuses with either of these. Even a trivial amount, like $10 a paycheck, will be something to put toward your retirement, which, thanks to compound interest, will grow over time. For your emergency fund, we suggest keeping at least $1,000 at all times.

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Accountant Newark, NY

2. Avoid Debt (As Much As Possible)

Be nice to yourself, and avoid debt as much as possible. Many individuals spend years paying back their credit card debt because they sought instant gratification. Some debt like a house mortgage is necessary, but wedding debt and student loans (in many cases) are avoidable.

3. Don’t Compare

You don’t have to maintain the same level of wealth as your peers, not even your parents. You don’t need the most expensive car model, designer clothes, or kitchen appliances. Your parents have spent years earning what you see today. Be patient with yourself, and save. If you’re diligent, in a few years you’ll be able to afford bigger and better things.


Now that nicer weather is (slowly) on the way, it’s probably tempting to spend money on new hobbies and outings. If you need an accountability partner, someone who can give you financial advice, give us a call 315-331-7925 and we’ll help you save money the real way.

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