New Ways to Save Money Every Day
In these tough economic times, it is tough to get ahead. It is even harder to get raises or get better-paying jobs. Many people are turning to saving more money as a way to get ahead. When regular ways to save money are implemented, the savings will pile up without much effort. After a while, it will seem second nature.
Carpool or Bus
Many people spend a lot of money commuting, not only the car cost but insurance and gas. If you can eliminate, or at least downsize the car you can save hundreds a month. A typical payment is a few hundred dollars a month, plus insurance, and gas can leave anyone struggling to save. Buying a simple compact car and taking public transportation will be a stress-free way to save a lot of money. If not available, at least doing a ride-share with co-workers should be done. Not only that but taking the carpool lane can speed up the commute.
A lot of money is wasted by eating out. Of course, it is nice to enjoy a meal cooked by someone who is more qualified than you. But in reality, good, healthy and delicious meals can be had at home. Not only that, but it can be an enjoyable, or even a romantic experience. Once you have a kitchen set up for cooking, with the proper equipment and ingredients it will become very easy.
Ideally, other than maybe a house payment and student loans, you should be debt free. It is very hard to get ahead with payments to credit card companies always looming. If you are in debt, having a plan to pay them off would be a great start. This will help your budget and free up money greatly.
Many people go to expensive concerts or sporting events. Many times, you can go to a free concert in the area. Or play tennis for free at the park, or go on a hike. Spending hundreds of dollars as a family at a half day event should be avoided. Enjoying nature with friends and family would be better financially and more enjoyable.
It is a good idea to analyze your recurring bills every 6 months or so. Checking insurance rates, inquiring about the cheaper internet or television service, or even your cell phone. Many will lower a rate if you just ask, or threaten to cancel. Be careful though, if you threaten to cancel, be prepared to go through with it.
Drinking can be a relaxing and fun thing to do. Especially with family and friends, or over a good dinner with a spouse. But many people spend much of their budget on drinking at bars, or just drinking too much. Nothing is wrong with buying a six-pack and splitting with a friend at the house. But going to bars can be an expensive proposition. Not only the cost to get in a bar, but also sometimes a cover charge, or even missing work if you drink excessively. In the end, everyone will have to decide what they want to do to save money.
Not every option will work for everyone. But just instituting a basic savings plan and sticking to it should be beneficial. Remember, even a little bit here and there goes a long way. Once savings grow, your confidence in doing it will grow and it will become second nature. Not only that, but you will notice that you do not miss the things that you bought with the money that is now being saved.