It’s hard to save when you don’t have any money. That is why many people turn to credit cards, which are often far more expensive than they need be. Here are ten ways to make your paycheck go further in 2018 and beyond so that you can stick around for future savings.,

The “how to get the most out of your paycheck without owing taxes” is a great way to save money. The 10 ways are as follows: have a budget, take advantage of sales, don’t spend more than you can afford, make smart purchases, shop for deals, donate items that you don’t need, use coupons and store rewards cards, pay off your credit card in full each month, and watch what you eat.

Many Americans are prevented from attaining their life and professional objectives by financial hardship. But there are several often disregarded ways businesses might assist.

Many American employees forget the perks their HR director offered during the onboarding process after a probationary time at work. Surprisingly, the majority of American employees say they would want financial assistance from their employers.

According to a recent study titled “Future of Money,” 77 percent of respondents believe it’s crucial when businesses provide financial planning assistance.

Discover the 10 techniques listed below to maximize your pay and perks at work to more effectively meet your financial objectives.

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1. Divide your income in half to make saving money automatic


Nowadays, the majority of jobs pay by direct deposit, and you may transfer the money wherever you choose. This allows you to divide the funds across two accounts, which is quite advantageous for saving.

Request that a portion of each paycheck be Direct Deposited into your savings account from your HR department. Separate your Direct Deposit after deciding how much you want to save each month (preferably 5 to 10 percent of your income). Savings are kept from becoming a habitual afterthought since it’s free to do so.

Discover: 20 Practical Personal Budgeting Advice

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2. Be familiar with the 401(k) plan offered by your employer.


At the conclusion of their probationary term, some businesses automatically enroll their workers; other businesses ask you to sign up. Some employers may match a particular percentage of your contributions, such as 50% of your contributions up to 7% of your income. Others, however, do not provide this “free money for retirement.”

This means it’s up to you to understand how the 401(k) plan at your business operates. Learn how enrollment works and whether any incentives, such as matching, are provided. Utilize this instrument as soon as you gain access to it and take advantage of it. Your future self will be grateful.

Discover the 7 Benefits and Drawbacks of Contributing to a Work 401(k) Retirement Plan.

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3. Examine your savings or flexible spending accounts.


Savings accounts for unforeseen medical expenses, child care expenses, and travel for business are a few examples. Flex accounts offered by your organization may vary, but most provide at least one.

These accounts have the advantage that any contributions you make are tax-free. Before taxes, they deduct the money from your paycheck. After that, you may use them tax-free all year round. Simply understand how the accounts function. Use it or lose it is a common phrase. In other words, you have until the end of the year to spend every penny you contributed. If so, do your math carefully to prevent squandering money or rushing to put it to use at the end of the year.

Learn more about Flexible Spending Accounts, a Workplace Perk You Should Know About.

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4. Despite being in good health, don’t disregard insurance.


One of the largest errors individuals make that causes serious financial hardship is this. Because you are healthy, you are not eligible for health insurance. Because you’re in your 20s or 30s, you don’t bother with group term life insurance or disability insurance.

However, mishaps can occur, and your health might swiftly alter. So, while you’re in good health is the ideal time to get insurance. Always choose employer insurance; it’s often the least expensive and hassle-free choice.

Also take into account disability, life, and accidental death insurance. Your family may not be able to bear the loss of your income if anything were to happen to you. The burden is lessened in part by insurance benefits. Any life insurance policy you buy should ideally provide 1.5 times your yearly earnings in coverage.

Discover How What Young People Don’t Know About Money Hurts Them.

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5. Find out whether they have a program for financial wellbeing.


Nowadays, many businesses include complimentary financial wellness programs in their benefit packages. You can essentially learn how to budget, save money, manage debt, prepare for retirement, and improve your credit score with this free website. These are all vital abilities, and you should always take advantage of free resources.

Check to discover whether the program your firm provides includes free financial advice if it does. In essence, you have access to a professional financial planner who can assist you in making the correct decisions in life.

Learn: The Majority of Americans Want Financial Wellness Programs

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6. Benefit from HR spam from free or discounted items


When your HR or administrative personnel sends out emails that look to be spam, don’t simply disregard them. They often provide useful discounts and freebies that you may take advantage of. Companies often get in touch with HR departments to arrange these arrangements and advertise to workers just like you. Before forwarding the offers, your HR staff probably verifies that they are valid and worthwhile. You may thus be somewhat certain that the offerings are worthwhile.

Additionally, you may have access to practical financial tools that you would not otherwise have. With your work, you could be able to join a credit union, which might provide better accounts and excellent financing rates. Otherwise, your company’s bank may provide unique accounts and discounted rates for staff members.

Learn more about: Office Workers’ Post-Pandemic Debt Relief Guide

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7. Take into account lowering your tax withholding


Although the majority of individuals like receiving a tax return, doing so really indicates poor money management. The government is not compensating you for your efforts throughout the year with a tax refund. They are refunding the money you overpaid in income taxes for the whole year. They essentially store the money you pay them throughout the year and reimburse you for any amounts you may have overpaid. However, that money remained idle and unproductive in that account throughout that period.

Discuss reducing your tax withholding with your HR department if you consistently get a sizable return. As a result, you will get more money in each paycheck as opposed to a yearly “huge windfall” that appears in the spring.

Learn about these 8 significant life events that will impact your tax burden.

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8. Request raises instead than waiting for them!


Around the time of your work anniversary, you should request an annual evaluation. Reviewing all you’ve done for the business over the last year is the ideal moment to request a raise. The average valuation increase for a company is less than 5%. A 5% increase is insufficient if you get a promotion and are assigned to a position that demands twice as much effort.

To find out the wage range for your position, visit employment websites. You may then negotiate wage increases in accordance with this. At the very least, you should get raises every few years if you’re a good employee. If you put in a lot of effort but don’t often see income or compensation rises, it could be time to look for a new job.

Learn how to handle your finances after receiving a raise.

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9. Increase your funds to provide income in the event of unemployment.


The majority of experts advise that you should have 3-5 months’ worth of income set up for emergencies. Therefore, if your monthly income is $2,000, your savings account should be between $6,000 and $10,000. The funds may also be kept in accounts that can be quickly converted into cash if necessary, such as money market accounts or certificates of deposit (CDs).

The theory behind this is that you could live comfortably while looking for work for three to five months if you lost your job. This will assist you in keeping credit card debt to a minimum while out of work.

A brief reminder: You should boost this amount to six months to a year during a recession. This will assist you in avoiding debt when faced with protracted spells of unemployment brought on by a poor job market.

4 Ways to Increase Emergency Savings in 2022

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10. Establish a pay target to attract employment offers.


You could often get job offers if you maintain your CV up on employment sites or just have a very excellent professional social network via LinkedIn or other social platforms. Don’t just reject offers because you enjoy your job. You should determine the wage level that would most likely persuade you to quit.

Set the amount high if you’re happy with your job. Request a raise of between 15 and 20 percent above your current yearly wage. Even if you could be taking a chance by leaving a place where you’re pleased, it would make the decision to leave worthwhile. The danger could be worthwhile for so much more money. Again, make sure you’re not asking for something wholly out of line with wage levels in your community.

Learn how to budget with variable income with these 6 steps.



This article originally appeared on and was syndicated by

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“10 ways to make your paycheck go further” is a blog post about how to save money. It includes 25 things that you should never do with your money. Reference: 25 things you should never do with your money.

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