There are some things on this planet, and in this life, that are finite. You know what I mean…they have a shelf-life; they have a use and then are gone.
Money is one of those things. Even the most rich of us as humans still has that cap onto their wealth. This means that they can always get more, and it also means that there is always more to use or lose.
I have a question for you…
Do you run out of money before you run out of month?
We know how like can be. It’s often very difficult to balance a budget and have anything left over. Saving money sometimes can seem impossible.
But we have an answer to this problem.
Now, just thinking about the problem gives us two basic ways out of this dilemma. We can earn more, or we ca spend less. For most of us, while we probably deserve to be paid more, we’re forced to cut our spending.
Money saving tips, strategies and you!
We’ve compiled 20 very basic tips to getting the most of your money possible. Not every tip or money strategy is ideal. But, each is based on a sound principle to will see your wallet or purse in a much better shape.
1 – Use the library
You can borrow not only books from your library. You can also borrow movies, video games and music.
2 – Cut the Cord
There are so many options now with Netflix, Amazon Prime, Slingbox, Hulu and many others. Cable is wonderful, but it can be expensive.
3 – Annual Fees
What advantage are you getting by paying an annual fee? Are you taking advantage of all of those services?
4 – Lower Interest
Find a credit card with the lowest interest rate. However, be careful of “teaser rates” that promise you lower interest. They promise and give the lower rate, and then increase it dramatically after an introductory period.
5 – Don’t pay interest on credit cards
Pay your entire credit card balance monthly whenever possible and save the interest expense. In fact, this can help you to rebuild and strengthen your credit rating in the long term.
6 – ATM Fees
Use the ATM machine at your credit union to avoid paying a service charge. Don’t forget you can use any PNC Network ATM or any ATM at Sheetz for free.
7 – Choose off-brands
Buy generic brands at the supermarket. And if you need the name brand, clip coupons to slash those grocery bills.
8 – Turn Down the Heat / Air
Turn the heat or air conditioning down when you’re out of the house all day. Digital thermostats are great ways to accomplish this. Set it and forget it.
9 – Insulate (everything)
Want a new pool? How about a new car? Luxurious exotic vacation? Yeah, me too. But sometimes the best decisions are not the flashiest ones – new windows, new insulation, new wiring. While they won’t wow the neighbors, they can be very wise decisions to save money in the long run.
10 – Check those rates
Shop around periodically to check comparable rates on your auto, home and life insurance. You might even find discounts by combining for lower prices.
11 – Brown Bag It
You can probably save $1,000 a year by taking your lunch to work. Think about how much it could cost to eat, on average, at work; maybe $5.00 a day, or about $25 a week, or around $1,250 a year.
12 – Maximize Your Interest
The IRS doesn’t pay interest on your money, so don’t use big refunds as a way to ‘save.’
13 – “Kicking the habit”
If you smoke, chew gum, are addicted to coffee, etc., keep a running total of how much your vice costs you this week. Multiply that by 52 weeks and see how much you are spending. It may depress you, but just think of the money in your pocket if you just cut that figure in half.
14 – Save your receipts
If you itemize deductions on your tax return, be very diligent about saving receipts on everything that may be tax-deductible. Even little expenses add up to a savings on your tax bill.
15 – Get that off-fashion
Buy items out of season, when they are on sale and keep them for next year. This just isn’t for clothes – think holiday decorations, yard equipment, etc.
16 – Debit It
Use a debit card from your credit union if you have a problem controlling your urge to overspend on your credit card. It’s the same as if you were writing a check, so be sure to enter each use in your check register in order to keep track of your balance.
17 – Let your fingers do the walking
Use the internet to find the best possible deals. Use your phone apps to unlock “hidden” coupons.
18 – Buy in bulk
Sometimes it makes sense to buy a bigger quantity of non-perishable items and spend more up front. The savings isn’t felt until later, but it can be meaningful in the future. Getting a drink at the local gas station is easy, but it comes at a much higher unit cost than if you bought in bulk and brought from home.
19 – Buy quality
Not everything has to be of the best quality, but there are items that we use regularly. These are the “I can’t imagine my life without…” items. If you find yourself replacing these items regularly, perhaps investing a little more upfront will cut back on the replacement cost in the future.
20 – Sacrifice convenience & take your time
In our busy world, we want it, and we want it now. Convenience is a premium and you often have to pay for it. Often times there are great deals to be had at dollar stores, but sometimes not every purchase from there is at as low of a cost as you could find.
Where can you go from here?
Today we looked at some simple tips that can help to relieve the financial costs you see each month. The end goal is to have more money, and to be as comfortable as possible. With these tips, we hope you start down to the road to becoming that more comfortable you.