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Money saving tipsThe following ideas are courtesy of americasaves.org Start saving money every day by paying attention to your finances. Money can be an ugly word, so stay on top of your funds and where they are being spent and saved. Find ways to eliminate unnecessary spending and reduce monthly bills. Balancing your household budget and living within your means is an essential step to living a life without worrying about money. Below are some helpful money saving tips.
Cook and eat in more. Instead of eating out for lunch and/or dinner, save huge amounts of money by creating a simple menu, buying the groceries and cooking at home. You can create very easy dinners in 15 minutes or less and the cost is a fraction of what it costs to eat out. Prepare a sandwich or leftovers the night before and bring your lunch to work.
Bike, walk, carpool and save gas money. If you even replace a few trips a week with a bike ride or walking you will save money on gas and you will also increase your exercise!
”Get rid of it!” Live this motto and start counting your savings. Anything you don’t use such as club memberships, magazine subscriptions, credit cards with monthly fees, etc., cancel them. If you don’t use them it’s like throwing money out the window. Pay yourself. Can’t figure out where your money goes every month? Feel like you should have extra but it gets spent on meaningless goods or impulse buys? Start saving those extra dollars and treat it like you are paying a bill, but instead are actually depositing a ‘paycheck’ into a savings account, mutual fund, 401k, etc.
Eliminate credit-card debt. Of course this is easier said than done, so here are some tips to help you. Start by making a spreadsheet of your credit card bills, their interest rates and what you owe. Pay off the higher interest rate cards first, once paid off, cancel them. Once your debt is paid off completely, look for credit cards with low interest rates and no monthly fee. From there on out pay off the entire balance every month and use credit cards sparingly. If you have high credit card debt, transfer your credit card balances to a card with a lower interest rate ASAP. You’ll save $730 if you transfer a $2,000 balance from an 18% card to an 8.25% card and then pay off your balance at a rate of $50 a month. Avoid late fees by contacting your credit card company and changing your due dates so you have the funds to pay your bill on time. Kick the habit. Quit smoking and save more than$2,000 a year if you go from being a pack-a-day smoker to a non-smoker. You’ll also qualify for significantly cheaper life insurance rates after you quit.
Monthly Money Savings
Save $.50 a day in loose change . . .$15
Cut soda/pop consumption by 1 liter a week . . .$6
At work, substitute 1 coffee for 1 cappuccino $40 Bring lunch to work (saving estimated $3/day) . . .$60
Eat out 2 fewer times a month . . .$30 Borrow, rather than buying, one book a month . . .$15
Bounce one less check a month . . .$20 Maintain checking account minimum to avoid fees . . .$7
Pay credit card bill on time to avoid late fee . . .$25 Pay off $1000 of credit card debt, reducing interest . . . $15
Save up to $233 a month! 6:34 PM - Jan. 8, 2009 - comments {0} - post comment |
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