First you need to create a spreadsheet or log of your daily spending habits. (Yes, even that coke or candy bar- we want a bigger booty because of the wallet- ditch the candy bar and make the soda diet!)
Next establish where you can or should cut back on expenditures such as eating out, movies, spa treatments, shopping sprees, etc. (Get with your girlfriends one night... eat popcorn & diet soda, do each others hair and nails, and trade clothes!)
I know, I know... second hand stores are my favorite, I'm always looking for a deal and you can also trade in on consignment your gently used apperal or furnishings. It will help keep your house clean and uncluttered gives you bargaining power and maybe a little income. You can even donate what doesn't sell to charity and have a tax write off, or donate the money or get something for someone else who needs or wants it.
Examine all the extra services you pay for monthly such as cable, internet, home phone line, DVD subscription programs, beauty treatments and gym memberships
Rent movies from the library, establish a wireless network with a neighbor, and go to the park to exercise.
Take a sack lunch to work during the week and just go out with your friends and family once or twice on the weekend, of course, if it's family your going out to dinner with take advantage of the specials offered during the week.
Establish a budget for all expenditures- put your wallet on a diet and watch it grow.
Run errands on foot if possible to save on gas, carpool with friends to work, school, etc. Mow your own lawn and do your own yardwork.
Collect loose change (pick it up off the ground too!) and save it. Once a month, or every three months, divide it and put half in a savings account and the other half use for something you really want.
At the grocery store buy generic- same for drugs- whenever possible. And check out buying somethings in bulk- you can never have too much toilet paper- it won't expire and you will always need it.
2 comments:
This was a very interesting and helpful blog. This is something I am struggling with everyday. It is something about saving money I can not seem to do. I know one problem is eating out. Me and my husband eat out about three times a week, not counting everyday for lunch. I think if I take the time and really stay away from eating out we will save a lot of money. I think we eat out so much because it is so convenient because we both get home late and the time I cook we eat, and get ready for the next day. I really think we need to cut back on eating out.
One of the waitresses I work with saves all of her loose change. She puts it all in a bucket at her house and uses it at the end of the year to go on vacation. This past year she had saved upwards of a thousand dollars and went to Costa Rica for a week with her husband and two friends. I have tried to save my change, but I always end up cashing in when times are tough. I am also very guilty of retail therapy. Its not a good thing that our classroom is so close to the mall.
But, I have found one way to save money. Working as a waitress, I make cash everyday. In order to prevent myself from spending it, I put everything other than ones in a jar in my room, and deposit the money as quickly as possible. So far it has worked pretty good.
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