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12 Months to a Better Financial Foundation—Step 9: Spend Smarter

When you’re spending, get the most out of your money

We all use money in one form or another every day so what can you do to get the most out of the money you already have? Here are some tips to help you stretch your dollars and spend smarter.

Get paid sooner

When you have your paycheck direct deposited into a 3Point Checking Account, you can get paid up to 2 days earlier.* Get paid sooner to better manage those gaps between paychecks. Learn more at myGECreditUnion.com/DirectDeposit.

* Please note that if your employer does not deposit funds in advance, you will get paid on the scheduled pay day.

Get rewarded when you spend

Use your Mastercard Credit Card for everyday spending to earn ScoreCard Rewards, including Cash Back, for every dollar spent. Pay off your card in full every month and reap the rewards without paying interest! Enroll at www.ScoreCardRewards.com.

Check your subscriptions

Are you paying $20, $50, or $100 a month for a gym membership or streaming service you don’t use that often? See if you can negotiate a lower monthly rate or plan or ditch it altogether and put the monthly savings toward something else that’s more worthwhile.

Automate your bills

With bills you pay every month—think car loan, utilities, mortgage—set them to auto pay so you’re not tempted to spend that money on other things. By ensuring that you pay your bills on time every month, you’ll avoid paying any late charges AND boost your credit score over time.

Enroll in loyalty programs

When a business you frequent has a reward or loyalty program, sign up. Over time the savings can really add up whether it’s at your local grocery or hardware store, hotel rewards, or frequent flier miles. Plus, you’ll get notices when sales or special offers are coming up so that you can maximize the value of your dollar.

Shop resale or better yet, Buy Nothing

Local consignment stores and online services like CraigsList sell gently used goods at a fraction of the cost of the new versions. Or try BuyNothing—a program born out of concerns for waste being deposited in landfills. Find a local group to barter and trade items with your neighbors at https://buynothingproject.org/find-a-group

Use your money to make money

If you have money in a savings account or excess money in your checking account, consider moving it to a Money Market or a Certificate where it will earn more interest over time.