Top 10 Ways To Cut Spending, Reducing Expenses and Save Big Money
Do you run out of money before the start of the next month? Do you worry about where your money goes every month? Do you struggle to find money to invest in retirement, emergencies and other financial purposes? Here are 10 tips to reduce your costs and maximize your dollar
1. Consider leaving your home telephone line. Your cell phone is probably all you need, and probably not. There is a long way to go. You can save $ 30 or more per month by dropping your "landline"
2. Return to Starbucks or other premium coffee shops. Often called the "late factor", spending several dollars a day on luxuries such as premium coffee can really increase. For example, if you spend 50 weeks a year in a week(Five times spend 4 for cappuccino (You are on vacation for the other two weeks) So you will spend 1,000 a year. Try to treat your Starbucks trip instead of getting used to it. You will save money and maybe even lose weight!
3. Pay your mortgage twice a week instead of monthly. You will pay less interest and pay your mortgage faster
4. Take cash instead of credit cards. Psychologically, spending cash is much more difficult than using a credit card. You will spend less and save on interest charges
5. Use the "envelope system" for the categories of groceries, food, entertainment, and other discretionary expenses. This will let you know how much you spend in these categories and at the same time prioritize your expenses
6. Increase deductions on your homeowners and auto insurance policies. It is not wise to file claims for small losses anyway (Insurance companies like to raise prices after filing a claim) , So more deductions will save you money now and in the future
7. Buy regular gas instead of premium. Most cars do not need premium petrol. Also, take public transport if it is available in your area. Take advantage of "park and ride" and carpooling options
8. Plan your purchase to avoid continuity purchases. Keep a list with you at the grocery store and stick with it. Studies show that continuity purchases are 10-50 in your grocery bill! Can add
9. Go to the library instead of the paid materials or bookstore. If you are an enthusiastic reader, give yourself a budget for the books you would like to keep, and go to the library for everything
10. Take a vacation at home. Check out all local sites and events. You will rediscover your hometown and save on travel and hotel expenses
These are just a handful of ways you can cut costs and raise your dollars, but if you follow these points you will know that other financial goals, such as college savings, apply for retirement. You will have more money to pay. Or just for a rainy day
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