One of the reasons why many are not able to follow their spending plans is that they make seemingly little purchases that actually add up substantially when calculated on a monthly basis. Take grocery shopping, for example. It’s so convenient to just pick up anything and everything from the shelves! Or that cup of coffee you get on the way to work each morning? Try adding how much that costs you a month and you’ll surely be encouraged to drink one at home before going to work.
There are many ways to save so you can stick to your budget. Here are some suggestions:
1. Make reading the labels of packaged food items a habit. Most of the time, you will find cheaper versions of more popular and expensive brands which have the same (if not richer) nutritional content. This can be tedious at first but when you get used to it, you’ll really save a lot on groceries.
2. Use coupons. Clip coupons from magazines or print them out from online sites. You might only save a few cents to a dollar on each item but when you add them up on a monthly basis, the amount will be substantial. And while you’re at it, make it a point to buy in bulk the things or food items that you will use regularly. However, when buying canned goods and other processed foods, make sure that you purchase those that won’t expire very soon. Otherwise, they will just end up in the trash and you will just have wasted your money.
3. Eat at home. Dining out is one of the reasons why so many people get derailed in their budgeting. Remember that each time you eat out, you’re not only paying for the food but for the labor and expertise of the chefs (and the waiters and dishwashers who will clean up your plate afterwards) as well as the ambiance of the place. Learn how to cook your own meals and you will see just how much you have saved in a month’s time if you minimize restaurant-hopping. While we’re on the subject of making your own meals, consider bringing your own lunch to work (and packing the kids’ lunches at school) as well.
4. Review your insurance. Take a look at your auto insurance, for example. Perhaps you’re driving a 10-year old car and haven’t had an accident from the time you started driving it, consider just keeping the liability coverage and opting out on collision coverage. Look at your other insurance policies and see if there are ways that you can cut costs and save.
5. Scrutinize your subscriptions. Do you go to the gym regularly? If you don’t take advantage of your gym membership, cancel it and exercise at home instead. What about your cable and Internet subscription? If you can’t watch all those channels and don’t need a very fast bandwidth then opt for a lesser channels and slower connection but cheaper subscriptions. What about your phone service? If you already have a mobile phone then you can choose to let go of your landline. After all, both phones serve the same purpose so why should you pay for redundancy?
Other related info you might be interested in:
No comments:
Post a Comment