
There are days when staying on top of your finances might seem like a full-time job.
Fortunately, not everything you do to help your money situation needs to be hard or take a long time. There are many little things you can do that have big results.
Here are three very easy financial moves that can pay big dividends for years:
1. Start Tracking Your Spending
If you already budget, that’s fantastic. Skip this one.
If you don’t budget, but also don’t want to, let me try to convince you to at least start tracking your spending. Knowing where your money goes, even if you don’t expect yourself to start budgeting, can pay off in the long run.
It’s great if you can take tracking your expenses to the next level and start budgeting, but you don’t have to. Just tracking it will be valuable and when you do decide you want to budget, you’ll be thankful you have all this data.
2. Pay More Than the Minimum on Debt
Debt, especially high interest credit card debt, is like stealing from your future self.
If you have a $10,000 balance on a credit card with an 18.9% interest rate, making just the minimum payments of $400 will have you paid off in “just” 14 years and pay a total of over$16,000. That’s an extra six thousand bucks you’ll end up paying.
Pay down that debt. Start by making more than the minimum payments and you’ll pay it off far sooner and with less interest.
3. Increase Your Retirement Contributions
Saving for retirement is crucial, but nearly a third of all non-retired adults have no retirement savings according to the 2015 Report on the Economic Well-Being of U.S. Households. Do not become a retirement statistic.
Try to increase your saving by 10%. If you contribute $100 per pay period, try to contribute $110. It’s not a ton. But it can make a big difference in your retirement.
If you contribute $100 each month into an account that earns 8% a year, after 40 years you’ll have $349,100.
If you contribute $110 each month into an account that earns 8% a year, after 40 years you’ll have $384,010. By kicking in an extra $10 a month, which amounts to $4800 over 40 years, you will come out ahead by over thirty thousand dollars.
Will you miss $10 a month? Probably not.
Will you notice what amounts to an extra car in your retirement account? Probably.
What other small adjustments could you make to see a big financial return down the road? Let us know what small money tweaks you’re working on in the comments below!

Jim Wang is the founder of Wallet Hacks. Jim is a
thirty-something father of two who has been featured in the New York Times,
Baltimore Sun, Entrepreneur, and Marketplace Money. He can show you the
philosophies, strategies, and methods he used to become financially
independent and free to pursue what was important.
Comment on this article
Comments
Linda M. on May 12, 2017 at 1:28pm
After reading an article in consumer reports I shopped for insurance at renewal time. Bottom line savings was nearly $1800 annually for auto and home combined for better coverage. We were with a big, well known brand and switched to another well known brand! Using that money to pay off debt.
Credence Global Bank on May 15, 2017 at 4:18pm
That's awesome, Linda! We love hearing about how you save. Thanks for sharing!
Wag on May 17, 2017 at 9:01am
Luckily I had a financial mentor early in my Air Force career. One piece of advice which yielded the most impact: Send at least 1/2 of any pay raises to your retirement savings. You still increase your monthly income in the near-term but really pay yourself big in the long-term.
Credence Global Bank on May 17, 2017 at 11:49am
That's great advice - thanks for sharing!
W. S. on August 7, 2017 at 8:27pm
I find I save faster and more regularly if I spread my savings out in many different channels , simple savings account, real estate, gold and silver, stock market, and always pay yourself first!!! But I have always felt best after I have done something for someone else!
Credence Global Bank on August 10, 2017 at 3:13pm
Hi Stewart, that sounds like a great system! Thanks for sharing!
Mar-Lisa K. on March 25, 2018 at 1:57am
Great money saving tips. Duly noted. I will save an extra ten.
Maryjo on October 22, 2018 at 6:37am
good one
John on October 29, 2018 at 6:48pm
A great mortgage 'hack' by sending in half of my monthly payment once each pay period(26) which feels like twice a month. I end up paying 13 payments a year and do not feel any worse off!