I lost my job just as the economy was failing and life as we knew it took on a new financial aspect. The days of not keeping a budget were replaced by well thought out purchases. Every dollar was allocated and every expense became a process on how to save. I devised ways to save money so my family could still live well on less. Here are some of my favorite ways to save money.
- I stopped impulse buying. Those dollars spent at the checkout counter and on unnecessary sale items add up quickly. If I do not need an item, I do not buy it even if the price is great. Average Yearly Savings-$300.00
- I compare prices. Rather than buy all my groceries at one store, I frequent several and take advantage of items on sale that are on my list. I use the flyers that come in the mail and also check online sites such as www.mygrocerydeals.com. This saves time and money though I must balance the gasoline used against the money saved and decide which is a wiser choice. Average Yearly Savings-$432.00
- I use coupons. I am not like those people on the television shows and do not stockpile coupons, food and merchandise. But using coupons can save thousands of dollars a year. Local newspapers, free local magazines and the internet offer coupons. Every grocery store purchase is combined with a coupon. Average Yearly Savings-$576.00
- I do not purchase books anymore. This was very difficult for me to do as I love to read. The local library offers physical and electronic books so I never need spend a penny on reading material. Average Yearly Savings-$600.00
- I pay with cash. Research has shown people spend more when using a debit or credit card. By keeping cash as my only payment option, I spend less and am able to keep my bank account balanced easier. Average Yearly Savings-$276.00
- I trade in old electronics. When I need a new phone, I locate a store or provider than gives me trade in credit. Another bonus is they recycle those used electronics in some manner. Average Yearly Savings-$125.00
- I ask for a discount. Many places will indeed give a monetary or other discount when asked nicely. Places such as insurance companies, cell phone carriers, automotive repair shops, etc. sometimes off free perks. I recently received a free year of OnStar service by asking my insurance agent if he had any perks available. Average Yearly Savings-$342.00
- I eat at home and seldom dine out. On the rare occasion we eat at a restaurant I have a coupon for that particular restaurant. Many will even give a coupon or discount when asked. Many locally owned restaurants offer discount coupons in the Sunday paper. However calories are reduced and money is saved by eating at home. Average Yearly Savings-$480.00
- I live with less. Many purchases were unnecessary and unused. I now know I do not need two closets full of clothing nor do I need 50 pairs of shoes. Kitchen gadgets take up space and are expensive. My old towels are just fine; I do not need the newest trendy color. Our house has been purged of unused items and my entire family feels great about living with less. I use what I have and find it worthwhile. Average Yearly Savings-$1,250.00
Grand Total Savings for the Year Are: $4,281.00 just by making a few small changes. These savings will pay for our family vacation to the North Carolina Outer Banks this year.
**Averages were complied by reviewing my budget(s) and balancing money spent after making these changes compared to prior years before adopting this program.**
