Money Saving Tips
It is important that we make wise decisions when spending our money. Especially if we are buying something that does not increase in value. This page contains just a few tips on way that you can save money and cut costs. We are continually adding to the list so please stop back to see what's new!
Quick Tips
1. Avoid Snack Attacks - Do you buy food from the vending machine each day? I am guilty of this one. To cut the expenses, I buy food from the grocery store and stock up my cabinets at work. I just bought a huge bag of puffed wheat for $1.50 and it has been a healthy snack alternative for several days.
2. Skip the Upgrades - Do you get a grande coffee with all of the fixings each morning or perhaps a supersize meal at lunch? Do you pay extra for mushrooms, cheese, onions, etc. on your steak at dinner? Cut costs by skipping the "upgrades" and stick with the basics. You still get to enjoy a meal out while saving a few dollars each week.
3. Pass on the Java - Do you stop each morning for a specialty drink at a coffeehouse chain? Skip the fancy coffee at least one day a week and watch the dollars add up.
4. Buy Online - I used to think it was a waste of money to buy things online because I would have to pay for shipping. However, with gas prices so high and time at a minimum, I find it is actually cheaper for me to buy online and ship it. Even better, many stores are now offering free shipping online which is a bonus.
5. Consolidate Errands - Are you constantly driving all over town doing errands? Organize your errands so that you can hit all of your stops in one trip. This will not only save you money on gas but also save you time!
6. Turn it off if you aren't using it. - Yes, this goes back to what mom always told us but it is very true. Turn off the lights in rooms you aren't occupying.
7. Load It Up! - From what I understand, it is cheaper to run a full load of laundry instead of a small load. So go ahead, dump it all in!
8. Take Advantage of Gift Cards - If you're like me, you have tried the coupon thing and realized it can be more work than it is worth. However, don't throw the baby out with the bathwater. There are still easy ways to get discounts without taking a lot of time. For example, many restaurants offer deals where you buy a gift card and get a "free" one for yourself to use. The place I go to get my hair done had a similar deal and I took advantage of it for myself. I bought a $100 gift card and got an extra gift card for $15 free. I will spend the $100 there this year anyways so I might as well pay for it now and save $15. Often we don't think about buying ourselves gift cards but it is one of the easiest ways to save money at a place you go to quite often.
9. Sell Unwanted Gifts - Did you receive a gift this past Christmas that you won't use? Sell it on craigslist and get some cash that you can use towards something you really need.
10. Return to Homestyle Lunches - Take a few extra minutes when you are putting leftovers away to make a lunch for the next day. This will help to pick away at your eating out expenses.
11. Eat Before Grocery Shopping - Items in the grocery store look so much more appealing when you are hungry. I can't tell you how many "healthy" items I purchased and never ate them when I got home. Be sure to shop on a full stomach to avoid unnecessary "hunger" purchases.
12. Use a Grocery List - Get in the habit of making a list before doing your shopping and then stick to it. This will again help to shave away the extra costs that add up at the grocery store.
13. Generics Are Our Friends! - A nurse friend of mine finally convinced me that I don't need to buy brand name medicine. Store brand meds work just the same and cost a lot less. The same of course goes for food but there are a few limits there. For example, nothing tastes as good as Campbell's Cream of Mushroom soup. You can't skimp on that. Peanut butter also falls in that category. It's gotta be Jiff. However, there are many other products that taste just the same for a lot less. I challenge you to explore the world of store brand products and watch the savings add up!
14. Cancel the Fancy Cable and Rent Movies Instead - Do you really get your money's worth with those expensive cable packages? You may find that it is less expensive to rent a few movies a month for entertainment instead of paying $50 a month on cable.
15. Borrow Instead of Buying - This could hold true for many things but one in particular would be books. I am amazed at what a good selection of Christian books are at my local library. I saved tons of money when reading the Left Behind series by just checking them out of the library.
16.Only Charge What You Can Pay Each Month - This really should have been number 1. Credit cards should be viewed as a convenience not as a
crutch. If you don't have the money in your bank account to pay for the purchase, do not charge it to your credit card. The key to living debt free is to learn how to spend less than you make. Credit cards give you the false feeling of having more money than you really have and encourage impulse buying. If you don't have self control with credit cards, I strongly recommend you cut them up or freeze them for a later time.
17. Pay Off Credit Cards In Full Each Month - If you don't pay off your balance, the banks are going to charge you 25% or more in interest. That means
that the dress you just had to have which was on sale for 10% off wasn't really a deal. The reason is that you are going to have to pay 25% of the purchase price every month until you pay it off. Here's an example. Let's say the dress was $50. You got it on sale at 10% off so it was $45. However, you are going to have to pay the credit card company $56.25 the next month if you don't pay it off completely. After one month you are now paying more than the dress was worth. However, it gets worse. You don't pay off the balance the next month either. Now you have to pay 25% interest on the $56.25 which will be $70.31. After just two months the dress isn't looking as critical is it? I know this may sound harsh but if you want to stay out of debt, this is the only way you will be able to succeed.
18. Avoid the Malls - It's hard to turn down a great deal on a new purse when it's staring you in the face. Rather than dragging yourself away, or
worse yet purchasing it, try to skip the mall altogether. Think of it like the grocery store. Go with a list and stick to the list. If shopping is a relaxing pastime for you, consider new alternatives such as volunteering. You will be giving back to your community, saving money and will feel so much better about how you spent your time.
19. Donate - Take advantage of tax breaks by donating unused items. Did you know that your travel time to and from a volunteer activity is even
tax deductible? How great is that? Plus, the Bible says give and it shall be given unto you. When you are a blessing to others, God bestows a blessing on you!
20. Reuse and Re-purpose - Find alternative purposes for things around the house. For example, I use plastic grocery bags as trash bags. We always have
a ton of them and they just get in the way. Why spend money on a trash bag that you are just throwing in the trash? Perhaps you have some old towels that have seen their last visit to your bathroom. Can they be used as a car towel or dust rag? Men's t-shirts are also great dust rags. Take a look around your house with a new perspective and see how creative you can get.
21. Toilet Paper and Kleenex - This goes back to store brands. I finally broke down and started buying unbranded toilet paper and "facial tissues."
I just couldn't justify spending extra money for something that does some dirty work and gets flushed away. The extra perk was that I was pleasantly surprised to find that they feel just the same. Bonus!
22. Consider Your Priorities - Contrary to popular belief, we aren't entitled to the "American dream." The American dream is earned through hard
work and wise choices. A way to get on the road toward fulfilling that dream is to take time and set your priorities. Since you don't have enough money to
buy everything you want, decide what is most important and focus on that first. Perhaps you don't have money to buy a new SUV, a bigger big screen tv,
and the latest cell phone so you have to decide where your money will go. It will be difficult saying no but the long term benefits of living free from debt
will make it worth the effort.
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