Did you make a 2013 New Year’s resolution to start saving more money? Do you know how to save money? Well, don’t make it too difficult for yourself, begin with making small changes to your budget.
Since the beginning of the recession, like millions of people, I had to learn to “tighten up” on my spending habits. Believe me, it has been difficult. I use to eat out 4-6 times a week, I cut back to 1-2 times and now it’s hardly ever. At $4.00/gallon for gas, I had to learn to reduce my car expenses by running errands to the market, cleaners and bank all in the same vicinity on the same day.
Oh, by the way, make sure you get your family on board with you. Make this a team effort!
If you’re like me and need a little help in determining where to start, here are my suggestions:
- Pay your bills online. You can save postage, bank charges/late fees.
- If you have a universal or whole-life policy, consider purchasing a term life insurance.
- Do you owe 79% or less on your home, did you know that you could eliminate the private mortgage insurance (pmi)?
- Consolidate your credit cards. Transfer the high interest rate cards to cards that have lower rates and balances.
- Recycle your plastic grocery bags by using it for trash can liners. This will eliminate the purchase of trash can liner bags.
- Avoid overdraft and ATM fees. Only use banks where you will not be charged bank fees by your bank.
- Shop “for sale” merchandise on food and clothing. Purchase generic foods, when possible and buy your clothes on the clearance racks first. Price check before purchasing anything.
- If you’re a movie-goer, like we were, learn to buy some candy, ice cream and pop your popcorn at home, rent some movies and relax. However, if you really just like the movie atmosphere, then go for an afternoon matinee.
- Shop the 99 Cents, Dollar Tree and the Family Dollar Stores. These stores have been a life saver to all consumers that are really trying to make ends meet especially throughout the hard times.
- If you buy books, consider purchasing books used, buy online or go to the library.
This is what I had to do. What cut backs have you made? I would really like to know and I’ll add to this list, of course with your permission.
Please share your thoughts