The following is a list of some of my favorite money saving tips. Generally speaking, cutting back your expenses can actually increase your “income.” Most businesses know this trick, which is often why mass layoffs occur when sales are down. If you are struggling to make ends meet, before you take on another job or sell all your stuff on eBay, consider this list of favorite money saving tips!
5 Favorite Money Saving Tips
1. Utilities: If it is wintertime, turn your heat down to 68 degrees during the day and 63 at night. Use extra blankets, footie sleepers for the kids, and a sweater around the house. If it is summertime, turn the thermostat for the air conditioner up to 78 degrees and try not to run it at night at all. At night, leave upstairs windows open and utilize window fans. During the day, close all the curtains and keep the lights and oven off as much as possible.
2. Groceries: Food is often a large expenditure for any family. While some frugal methods like coupon cutting can help, to really cut the cost of meals, you need to rethink how you eat. Often the healthiest foods are the unprocessed ones. Luckily they also tend to be cheapest. Have at least one meal of beans and rice each week – it is inexpensive and good for you. Buy generic and as raw as possible. Avoiding overly packaged food and making most of your meals from scratch can made a world of difference. Also, try and shop at the store who offers the best prices all the time, not the ones with the best “sales.”
3. Gas: With the skyrocketing price of gas, it is time for all of us to keep the cost in mind. To save the most gas, do the following:
• Avoid driving as much as possible – walk, bike, use mass-transit.
• Clump short trips together. Too much back and forth, stop and start, burns gas.
• Always take the freeway when possible and stick to the best gas saving speed of 55 mph.
• Keep your car tuned up and well maintained.
• Buy the lowest grade gas your car can take.
• Keep your tires inflated.
• Unload unnecessary gear from your car.
4. Insurance: The best way to lower insurance costs is to shop around, increase your deductibles, and negotiate with your insurance company. Often a quick call is all it takes to discuss different options to cut your costs.
5. Miscellaneous: Do you wonder where most of your money goes? Many of us do. Start today by thinking about each dollar you spend. Ask yourself this question each time: is this absolutely necessary or is there a cheaper way to accomplish this purchase? Often to save money it takes a little extra time on your part. Research prices. Start a budget and keep track of your expenses for a month or two. Save all your receipts in an envelope. Start tracking exactly where your money goes and ask yourself, does it make sense?
Related Articles:
How to Save Money on Groceries
Saving Money with Meal Planning