N.C. Cooperative Extension-Alexander County Newsletter January 2023

Are you needing pesticide recertification credits???

N.C. Cooperative Extension-Alexander County will be offering 2 hours of credits on the following days in the following categories:

Private V Training:
February 27, 2023, 6-8 p.m. at the Alexander County Service Center

Private X and Commercial Applicator Training:
(credits to be offered: N,O,D,X)
March 1, 2023, 2-4 p.m. at the Alexander County Service Center

If you need more information regarding these classes please contact Cari Mitchell at cari_mitchell@ncsu.edu

New Year, New Financial You

The beginning of a new year is a good time to examine your finances and put the brakes on bad spending habits. According to one study, the top 5 most common New Year's resolutions for 2023 for consumers were:
1) to exercise more
2) to eat healthier
3) to lose weight
4) to save more money
5) to spend more time with family and friends.

But successful money management takes a little more effort than simply looking at your account once a month.

Here are five baby steps to help you get started:
1) Know your cash flow: Figure out how much money you have coming in each month and how much you pay out for household expenses to help you determine how much you could spend on anything extra, such as: watching a movie, going to a concert and other personal expenses. It might seem a bit burdensome, but knowing your cash flow will help you form a better picture of what your monthly budget is.

2) Pay yourself first: Make saving a priority and automate that amount. The simplest way
to save is through direct deposit where money is placed automatically into a bank
account, investment product (e.g., mutual fund), or employer retirement savings account
(e.g., 401(k) plan) before you have a chance to spend it. It doesn’t have to be any large
amount or percentage but make sure that you have an amount going towards savings to
help you start developing those saving habits. Sometimes, the key to success financially
has nothing to do with the dollar amount but more to do with the successful habits that
you follow and establish.

3) Use Credit Wisely: Ideally, pay credit card bills in full to avoid interest charges. If this is
not possible, pay more than the minimum due or it could take years, even decades, to
pay off an outstanding balance. Only spend what you need to spend with a credit cart. It
can be very easy to swipe without thinking so sometimes keeping cash to pay anything
extra from your monthly expenses can help you manage your credit wisely.

4) Shop Carefully: This advice goes for everything from groceries to clothing to a new car.
One way to shop wisely is to “do your homework” by checking product features and
prices on websites, newspaper ads, and phone apps, and “liking” retailers on Facebook
and/or following them on Twitter. Another is to negotiate with vendors by suggesting a
lower price (e.g., “I’ll give you $10”) or a discount for paying cash. A third strategy is to
find good deals via alternative sources including thrift shops, consignment shops, and
online auctions.

5) Utilize free resources available to you: Check out this 2023 financial calendar by
Alabama A&M and Auburn University that helps you break down your income and
expense throughout the year. If you’re unsure where to start, the “What is your Money
color” tool is a great workshop to help you understand what you value when it comes to
money. If debt is your biggest concern, check out the PowerPay app or visit the
PowerPay to help you learn more about making Power Payments to help you eliminate
your debt.