Bank of America head of product for consumer, business, and wealth management banking and lending Mary Hines Droesch joins Wealth to share effective budgeting strategies.
Droesch advises individuals to "set specific goals" and "be intentional about how you spend." She advocates creating a "do-not-spend list," explaining these are "small things that really add up to big savings." In today's consumer culture, she emphasizes the importance of establishing safeguards against impulsive spending.
Regarding current spending priorities, Droesch notes that Americans are focusing their budgets on groceries, wellness, and travel.
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This post was written by Angel Smith