14 Jul 5 Simple & Effective Ways To Save Money
You’ve decided to pay off your debt but you just can’t seem to come up with any extra funds after bills to do this with. Sound like your situation? There are many ways that you and your family can save money on different activities that you may take part in.
Here are 5 simple, but effective ways to save money on spending you may not even know you were doing.
Groceries & Shopping
The first rule of grocery shopping is to make a list. By writing a list and sticking to it you ensure that you only pick up what you absolutely need and nothing more. Never shopping when your hungry or leaving your spouse and children at home can also help curb unwanted spending.
When at the grocery store, waiting 10 seconds and asking yourself if you really need an item can save you a ton of money. For larger purchases such as furniture, a new computer, or even a car try waiting 30 days.
This will give you plenty of time to weigh the pros and cons of the purchase and you will know for sure whether it makes sense for your family.
Travel & Lodging
Is your family taking a trip? Did you schedule a year in advance so that you get the best deals possible? Sometimes spontaneous trips happen and that’s okay. If you know your family is planning on taking a trip for a longer amount of time planning ahead, and booking a year or even 6 months in advance, can save you tons.
You can also save by not renting the most expensive room in the hotel. Think back on trips you taken in the past. How much time did you actually spend in the hotel room? If the answer is a lot then maybe the fancier room is for you.
Chances are though the answer is you just slept in there and in that case you don’t need a extra fancy room just to sleep in.
This can also work for the type of car you rent. Remember, you have to gas that car up. If a large SUV is going to be way too much space for you and your family go for a smaller more fuel-efficient vehicle.
Avoid Fast Food & Convenience Stores
Fast food is the worst thing to spend your money on. First of all it’s terrible for you and secondly it’s overpriced. By cutting out fast food you won’t just feel it in your wallet you’ll feel it in your body and your health as well.
Convenience store items are also overpriced. The thought of paying $2.50 for a bottle of water when you can buy 24 bottles of the same water for $3.50 at the grocery store is just nuts.
It also helps to cut back on other nasty habits such as smoking and drinking as often. Your health will rise and so will the funds in your bank account.
Cancel Unused Subscriptions
Ever look at your bank account and see small charges that you just don’t know what they are? Or, is there a magazine that’s being delivered to your house every month that you aren’t sure who is paying for. Chances are the funds are being taken from your account in small amounts every month and you haven’t even noticed.
These can include unused services such as magazine subscriptions, newspaper deliveries, Netflix, Hulu Plus, and other random services. Eliminating these reoccurring charges may not free up tons of cash but they can definitely stop these companies from sneaking your funds.
Downsize Your Belongings
Maybe your children have moved out and you and your spouse are left with an oversized home fit for 5 people. Downsizing your real estate can make sense if you are looking to conserve on energy bills because you are paying to heat and cool space that you don’t use.
Getting smaller cars can mean saving money on gas and even maintenance fees in the long run.
You can also do a smaller downsize by simply cleaning out your closets and getting rid of clothing and shoes you don’t wear anymore. These items can be sold in a yard sale or on eBay and can turn a pretty hefty profit, which can be used to pay off debt or buy new items.
There are many ways to save money and these are only a few. If you have a goal in mind you’d like to achieve sit down, review your bank accounts, and see where your money is going.
Chances are you can cut back on everyday spending just by making a small change that won’t even have an impact on your family’s everyday life.
At Bolinske Law, LLC we want to not only help those wanting a fresh start with their finances, but also provide valuable information to help avoid financial disaster.
If you would like to speak to an attorney about your options, call us today at (952) 294-0144 or reach us through our Contact Page.