Grow With Us: The Future of Financial Wellness

Creating a spending plan is often the first step in managing finances, but have you considered how your spending aligns with your values? In today’s fast-paced world, it’s easy to overlook where your money goes. Forbes notes that people frequently engage in "convenience spending"—purchasing items that make life easier, even if they don’t bring true happiness.

To align your spending with your values, start by identifying what truly matters to you. Reflect on your core values, or search for lists to help you define them. Once you’ve clarified your values, create a list or vision board to keep them top of mind.

Next, evaluate your spending. For instance, if community is a key value, but you frequently shop at large chains instead of local businesses, consider shifting your spending to support the local economy. You might also investigate how companies use the money you spend, empowering you to make informed choices that align with your values. While these changes won’t happen overnight, start with small steps that focus on your most important values. 

Spending in alignment with your values can alleviate negative feelings associated with money. This approach can also shift your focus toward spending that brings joy. You might even rename spending categories to reflect your values—such as viewing student loan payments as investments in your education rather than burdensome bills.

Ultimately, aligning your money with your values helps you feel more in control of your finances and can lead to a more positive outlook. Remember, small changes over time can make a significant impact.

Spending leaks can quietly drain your budget and often vary from person to person. Here are some common areas where money slips away and tips to help you stay on track.

Food Have you ever thrown away spoiled food, ordered pizza but only ate a few slices, or dined out despite having groceries or a meal plan? Food is a significant expense, and it’s easy to overspend. Money wasted on uneaten food or on dining out (plus delivery fees and tips) can quickly exceed your budget expectations.

Tips to manage food spending:

• Skip deliveries by calculating how much extra you’re paying and consider better uses for that money.
• Plan meals before grocery shopping to avoid waste, or share groceries with roommates.
• Identify upcoming events where you’ll eat out, and try to stick to meal plans at other times.

Fees Fees often fly under the radar since they’re typically small but frequent. Costs like parking, ATM withdrawals, and annual fees for credit cards or accounts can add up, eating away at your spending cash more than you realize.

Tips to reduce fees:

• Add up all fees to see their impact on your budget.
• Identify avoidable fees (e.g., late fees, ATM fees) and take steps to prevent them, such as setting up payment reminders or using in-network ATMs.
• Don’t hesitate to ask for fees to be waived—sometimes, just asking works.

Subscriptions Many households subscribe to multiple services, from streaming to self-care products. These recurring costs can pile up, often for things you don’t need or use.

Tips to manage subscriptions:

• Review your recurring payments to identify subscriptions you’re paying for monthly, quarterly, or yearly.
• Evaluate if the cost is worth the use, and consider canceling unnecessary subscriptions.
• When signing up for free trials, check the terms to avoid future charges.

Sales Sales can be tempting, especially with marketing emails and limited-time offers pushing you to buy now. This can lead to spending on things you don’t actually need.

Tips to resist sale temptations:

• Before purchasing, ask yourself if you truly need the item or are just afraid of missing out.
• Turn off email notifications from stores to reduce the temptation of sales and deals.

By identifying and addressing these spending leaks, you can keep your budget on track and make more intentional financial decisions.

Without a grocery budget, it's easy to overspend. To help you save and manage your spending better, here are some tips for creating a grocery budget that works for you and your family.

Be Honest with Yourself The first step in setting a grocery budget is understanding what you’ve been spending. It’s crucial to be completely honest about the actual amount. Track your grocery expenses by keeping receipts for a month or reviewing the last month’s transactions. If the total surprises you, don’t worry—you can adjust from here.

Create Your Budget One effective method is the "hundred-dollar rule." Allocate $100 per person in your household for groceries each month. For example, if you have a family of five, your monthly grocery budget would be $500, broken down into $125 per week. This amount can vary depending on how often you eat at home. If you usually spend more, like $700, but manage to reduce it to $500 without sacrificing family favorites, consider saving the extra $200.

Stretch Your Grocery Budget To maximize your budget, focus on meal planning, making a shopping list, and shopping sales. Start by inventorying your pantry and freezer, then check weekly grocery ads to plan meals around what’s on sale. Having a plan helps you avoid impulse buys and stick to your list. Additionally, consider signing up for digital coupon programs or rewards offered by your favorite stores. Since adopting a grocery budget, you may find that you’re eating more meals at home and wasting less food, all while saving money.

By being mindful and strategic, you can create a grocery budget that meets your needs and helps your savings grow.