We are always looking for ways to save a little money. Over time, saving five dollars here and ten dollars there turns into a nice amount of savings. If you go out to lunch every day during the work week and the average meal is $8, then at the end of the week you will have spent $40, at the end of the month that $40 is now $160. With that $160 that you saved from making your lunch, you could easily use it to pay off any loan or credit cards that you have.
1) Go to the Public Library
Many public libraries have all the latest books, movies, and music available for free. All you need is your library card and you can save the cost of buying the books, movies and music. Even the late fees are nominal.
2) Do Not Make the Impulse Buy
Use the envelope method. If there is a high priced item that you want, like a new TV or a long vacation, then save money each week and put it in an envelope. Mark the total you have on the left and the amount you need on the right. Put in as much as you can afford until you the total on the left matches the total on the right.
3) Use Cash Over Credit
Using cash over your high rate credit card is a simple way to curb over spending. Walking around with a set amount for the day or week will help keep your budget in check.
4) Have a Change Jar
Hopefully you are now using cash over credit. Take all the change you get during the day and place it in a jar. You can throw more than change in the jar as well. After a little while you could have a few hundred dollars in the jar. If you have a 5 gallon water jug and fill it all the way, you could have close to $1500 or $2000.
5) Debt Consolidation
Most people do not think of this as a money saving tip, yet if you have multiple high interest rate credit cards and you have gotten close to the limit on all of them, then debt consolidation might work for you. These types of loans consolidate multiple debts into one easy, monthly payment.
Review the way you spend your money every day, save your receipts. At the end of the week, see what your weekly expenditures are and where you can cut some corners. Did you really need that shirt, or those shoes? Did you need to go out to dinner three times during the week? There are small but simple ways to curb your spending habits, start small and end big.