Tips to Save Big This Month
Some experts may be telling us the rescession is ending. But maybe those are the same experts who were a little late to the party when it was beginning. Anyway, most of us still have not recovered the full value of our retirement or savings accouts, cannot really get good returns on bank savings products, and are likely to be paying higher interest when we have to save money. If you haven’t already started being frugal, this is a good time to make some changes.
I am not going to explore the same nickle and dime tactics we have all read so many times, but want to present you with some ways to slash hundreds of dollars out of your expenses this month. I cannot promise everybody will benefit from each of these tips, but most people are bound to find some helpful hints here.
What Are You Spending Money On?
The big 3, according to experts, are housing, transportation, and food. By housing, I am going to assume they mean mortgage or rent, home insurance, and utilities. That’s a big one for most of us, alright. By transportation, it could mean the cost of owning a car, insurance, and gassing it up. Of course, some people may also spend money on public transportation too. Food is the last category, but I would also lump in all the stuff we buy at the grocery store plus eating out. So let us attack these three categories, housing, transportation, and groceries.
Save Money On Housing
It may not be practical to move, though lots of people are downsizing. Imagine moving to a smaller house and getting a smaller mortgage payment plus smaller utility bills. Does that sound radical? Maybe it does, but at some point we all have to ask ourself if we really need a fifth bedroom that only houses your Aunt Martha when she visits once a year, or if is really practical to pay for a room that only stores the exercise equipment you haven’t used since you forgot about your New Year’s resolution sometime in February.
OK, so moving is out. But what about homeowners insurance? Experts tell us to shop around every year or so to make sure we are really getting the best deal on homeowners insurance. The market changes, and our own situations change. You may also be entitled to homeowners insurance discounts that you were not aware of, or that your present company does not offer.
Also look at your utilities. Ceiling fans are a great way to make your home comfortable with the thermostat set up higher. If you don’t want to go to the expense or trouble of installing a ceiline fan, consider an old fashioned fan you set on the floor. They run for pennies a day, and can keep you comfortable with your thermostat set 5 degrees warmer.
Save Money On Cars and Transportation
Do you ever think about how much money you spend on auto loans? Would buying a new car, or even refinancing the one you have, with one of those 0% car loans, save you a lot of money? It would help a lot of people, and if you are current on your payments, getting a better deal is not out of the question.
If you are insuring yourself, and epecially if you are insuring other drivers in your family, it may be time to get some car insurance quotes too. Just as with home insurance, your auto insurance should be shopped once in awhile. An online car insurance comparison is a fast and easy way to see if you can save some money with one of the top insurers who is more competitive than your old company.
Can you just drive less? When auto gas prices are so high that many pumps post limits on the amount you can charge at one filling, it may be time to conserve. If you can cut out one fill up a month, you may be saving $30 – $50. You will also save on vehicle and tire wear.
Food and Groceries
This is actually one expense that is the most variable for most middle income families. I am no big fan of coupons, because they are usually for things I don’t want. I also tend to forget them. But some people do really well with coupo clipping.
I will tell you to go to the grocery store with a general outline of the types of food you need. Be prepared to shop store brands and sales. Also check your pantry before you go shopping. This has really helped me from bringing home my third jar of pickles and forgetting to buy ketchup. It may seem boring to have to shop this way, but you can make it a challenge to keep your grocery bill some amount, say $50, under your normal one.
Eating out tends to be one thing that gets out of hand around my household. We all work hard, and the convenience of prepared meals does seem attractive sometimes. But when you consider that you could eat a roast chicken at home for the price of chicken nuggets out, it makes sense to consider sticking to a budget.
We hope this list of ways to save money helped you look at your own monthly expenses. Sometimes it is very possible to live on less, just by cutting back. We’d love to hear your own ideas too. Simply register for free and comment.
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