Saving Tips


Reduce Expenses

What monthly bill worries you the most?  Identify it.  How could you reduce it if it meant the difference between putting food on the table and that expense?  Throw out your current perceptions about your expenses and look at them from a new light.  You will save each month.

Use credit card wisely

What purchases did you make on your credit card last month?  If you have trouble paying off the balance each month or paying down the balance, try not using the card for a month.  This should help you control the expenditures and allow you to pay down the balance faster.

Family conversation

When was the last time you held a family meeting to talk about the family finances?  This is a great way for everyone to be involved with proactively managing the household.  Talk about the cost of electricity, the use of text messages, the length of showers and use of hot water, the use of cable TV and going to the movies.  Consider all suggestions and track the progress of the idea. 

Buying in Bulk

Does buying in bulk really save money?  It may, but there are certain things you should probably avoid buying in bulk.  For example, nuts start going stale after a couple of months – will you have eaten that huge buckets by then?  Cooking oil is another example, if you don’t use it often.  Frozen foods can get freezer burn after a time in the freezer.  When buying in bulk be sure the price per unit is better than you can get elsewhere and that you will consume what you by before it goes bad.

When is a sale a sale?

We are continuously enticed to go to stores to take advantage of the special prices, the sales.  But when is a sale really a sale?  How do I know that the price is a good price?  The bottom line is, is that it does not matter.  I should purchase things when I need them.  If I find an article I like, but I say to myself it is too expensive, then, frankly, I don’t need it!  Understand what you need, not what you want.  Simple.  Difficult!  Practice and you will get better over time.