This document provides 5 financial tips that are timeless: 1. Enroll in an automatic savings plan to save without effort 2. Focus on long-term financial goals for the future in addition to short-term spending 3. Streamline entertainment subscriptions to save money 4. Pay off high-interest debts first to reduce fees 5. Take advantage of compound interest by starting to save for retirement as early as possible. These tips aim to help consumers optimize their finances for both the short and long-term.

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5 Financial Tips That Never Go
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Some nancial advice never goes out of style. Why? Because, although speci c factors change over
time depending on the economy and technology available, the foundational elements of nancial
health remain as solid as ever. The backbone of good money management is spending less and saving
more. The challenge then becomes deciding where to allot your income to reap the most future
bene ts.
These ve tips will help consumers get their priorities straight when it comes to personal nance.
Enroll in Automatic Savings Plan
Saving can seem daunting, especially if nearly all of your paycheck goes toward meeting your day-to-
day needs. But it’s a good rule of thumb to “pay yourself rst.” Setting up automatic payments from

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your checking account to your savings account will help you grow your savings without requiring
any further action from you.
Furthermore, as Re nery29 points out, “If you automate savings, you may not even notice the
difference.” At the very least, you’ll have to withdraw this money out of your savings account
manually if you want to spend it—an extra step that may act like a deterrent for making non-
essential purchases.
Many experts believe it’s healthy to save 20 percent of your take-home pay after taxes. The exact
amount will depend on your income and nancial obligations but saving some is always better than
none.
Focus on the Future
It’s easy to get caught up in your daily routine, including spending money to ful ll immediate needs
and wants. While this habit does keep you a oat in the present, it does little to solidify your nancial
future. It’s important to work on long-term goals, even as you focus on short-term spending.
Andrew Housser, CEO of Freedom Financial Asset Management, asks himself where he wants to be
in 1, 3 and 5 years, then takes actions to move himself closer to making those visions a reality. The
timeline will vary depending on your goals. For instance, you may nd yourself focusing heavily on
paying for a trip abroad in six months. Or, you may be facing retirement in 10 years, meaning you’ll
want to redouble your efforts in that arena. The point is: Never forget to look to the future, even if
you’re living comfortably now.
Streamline Your Entertainment
It’s easy to rack up entertainment costs these days, as more content is available on demand than
ever before. But many are surprised to nd out how much entertainment subscriptions are costing
them when they sit down and really look at the receipts. For example, switching to a streaming
service is typically cheaper than cable. But if you’re subscribed to multiple streaming services at
once, it likely pays to cut down. Think quality over quantity, then trim the fat to free up extra money
in your budget.
Pay Off High-Interest Debts First
Let’s say you have four credit cards, each with an outstanding balance. Which one should you pay off
rst? Well, the debt avalanche method recommends paying the minimum balance on all debts each
month while chipping away at the one with the highest interest rate rst. Once this debt has been
repaid, you can start doing the same with the next highest interest rate. This strategy tends to help
consumers pay down debts faster because fewer fees rack up in the meantime.

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Take Advantage of Compound Interest
Nothing builds a retirement fund like compound interest; this is why it’s so important to start saving
as much as you can as soon as you can. Earmark part of each paycheck for retirement so you
capitalize on the bene ts of compound interest.
These ve nancial tips are timeless because they aim to help consumers optimize their short-term
nancial strategy and set themselves up for the future.
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