With inflation on the rise, saving money is more important than ever before. People are finding it hard to make ends meet. You can find some real savings by taking a few steps, including checking to make sure you are getting the best car insurance rate. Switching carriers is the number one way you can find the cheapest car insurance. You should also consider setting savings goals, and figuring out ways your own financial priorities will put you on the right track. Paying less for things now will help you save for educational, travel, housing and retirement goals that are necessary.
Save Money on Food
- Everybody needs to eat, so you can’t get around buying food. However, you can choose how prepared you are for every meal. Making a grocery and a weekly meal list will force you to purchase exactly what you need, so when Wednesday evening comes around you won’t have to think, “What am I going to make for dinner?” and then go the expensive route by eating out.
- Not all grocery stores are created equal. There are high-end grocery stores that stock the finest in elegant cooking items and then there are the ones that price items more moderately due to very low overhead.
- Pack your lunch with intention. At 10 AM you glance at the clock and think, “I can’t wait for lunch time.” And then when noon arrives you pull the boring sandwich and apple from your brown bag. Yes, you’re trying to save money but give yourself a little leeway and less opportunity to trash your lunch by exploring quick, easy and delicious sandwiches and soups to take with you to work.
Be Realistic About Your Habits
- Quitting smoking isn’t easy but not only are you degrading your health, if you smoke 1.5 packs every day you’re spending almost $3,000 a year. Think about all of the other things you could spend those thousands of dollars on – a family vacation, to go toward a new or used car or toward yours or your child’s education.
- Ask yourself the hard question, “Do I really go to the gym that often?” If you have to think about it, the answer is likely no. Gym memberships are insidious, they usually aren’t that expensive every month but when you add it up at the end of the year it could run $1,000 or more. And, do you have the pecks to show for it?
- Swap fast food for handy food. If you’re a family on the go and you often find yourself bringing the kids home after soccer practice only to face a cold kitchen with no dinner waiting, take heart. While fast food beckons it isn’t your only option. Pack a cooler for your car with bottled water, bottled chocolate milk, and easy and healthy food grabs like yogurt, fruit, juices, and health bars.
Lower Energy Costs
- You might like the thermostat set at 72 degrees all year round, but the beauty of the human body is that it adapts. Try moving the needle up to 75 in the summer and down to 69 in the winter. Before you know it, you’ll acclimate to the change and see a reduction in your gas and electric bill.
- We don’t think about our water heaters much but they are a source for energy savings, too. Lower the thermostat on the water heater by 10 degrees F and you could reap a 3-5% savings in your bill. Switching to a tankless or on-demand water heater will bring even greater savings (30%) when compared to a standard heater.
- Go dark for a week. If the weather and the kids are agreeable, pitch a tent out back and take a camping staycation. Avoid turning on any of the lights, turn off the wi-fi and play board games, cards, play musical instruments, and talk to each other instead. This may become an annual event if all goes well. And, you’ll save money on appliance and electricity usage.
Take Control of Your Technology
- Social media has its pros and cons. But, when you find yourself scrolling endlessly with no real purpose, you’re wasting valuable time. Plus, you put yourself at risk of encountering targeted ads that (let’s face it) often make their mark. Delete the apps from your phone and vow to only visit from your computer.
- Unsubscribe from marketing emails. Yes, three months ago you did, in fact, want to save 10% on that dog dish but now you’re ready to move on. Unsubscribing from marketing emails will eliminate the temptation to click, browse, convince yourself you need something you don’t, and spend.
Saving money takes time and patience. However, it doesn’t just happen automatically; you must intentionally put yourself in the mindset to cut back. There is “fat” to be trimmed in your budget if you look hard enough for it.
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