How To Save Some Extra Bucks

I am certainly not the most frugal person in the world, but I have worked on making some changes in my spending habits, and it has resulted in a few extra dollars in my pocket.

  1. Increasing your deductible on insurance policies can save up to 12%.
  2. Throw away catalogs as quickly as they come in – they may be great way to pass time when you have a few extra minutes, but they can also be the cause of you buying something you don’t need. Throw them away.
  3. Shave $50 off your grocery budget.
    • Each time before you visit the grocery store, make a list and stick to it. If it isn’t on the list, DO NOT buy it.
    • Buy generic.
    • Use coupons (be careful and study prices and brand, because coupons may not always save you money).
    • Do not shop while you’re hungry.
  4. Drink more water. Not only is this healthier for you, but if you drink more water you can also save money. If you buy a pop each day during your lunch hour, then that is costing around $1-$2 each day. So by ordering water, you can save $5-$10 each week and $20-$40 each month, which comes to roughly $1040-$2,080 a year!
  5. If you find yourself thinking about buying something over $40 and it is a 'want' rather than a 'need', don’t buy it today. Make yourself walk away, so you can think about it. If you don’t buy it on a whim, chances are you will forget about and never miss it. If, on the other hand, you find yourself coming back to the item, then you might want to research the item and/or borrow it or rent it to try it out. Figure out if it is really worth the money.
  6. Don’t spend the money you save using these tips. Designate a place for the money: Rainy day fund, savings account, etc.
  7. Pay in cash. If you don’t have the cash to pay for something, don’t get it.
  8. Check your bills for errors.
  9. Minimize your options on some of your bills. For instance, I was paying $70 on my cable bill. I decided to see if I could live without the extra channel packages, and ultimately saved myself $38 a month. I also downsized my home phone services to the basic plan and use my cell phone for long distance calls during my allowable times, which saves me about $15 each month.
  10. Wash as many clothes in cold water as you can.
  11. Buy used items instead of new.

 

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