It can be very frustrating retraining your brain to learn how to save money every month. We all have daily rituals that we do that could be costing us hundreds of dollars every month. Here are ten easy to do ideas that will help you change your spending habits and put extra money in your pocket every month.
- Create a Spending Journal: Use a spending journal for one week to see what you are spending your money on. At the end of the week break down your spending into categories, example, groceries, bills, snacks etc… When you see what every penny is going towards you will have an easier time of knowing where to cut back and where you will be able to save money.
- Electricity: Turn off all lights in rooms when you are not in them and turn off all electronics when you are not using them, this will ensure a monthly saving on your electric bill and is good for the environment.
- Do Full Loads: You can save money on water and/or gas and electricity by doing full loads of laundry and dishes. Not only will it cut back the cost of utilities, but it will also lower the bill on how much money you spent on dish soaps and laundry detergents.
- Carpool: If you can carpool to work with a friend or co-worker you can spilt the gas money, saving you money every month. Also, if you live some where that offers good public transportation you can cut down the cost of gas by using that every day you go to work, or even a couple of days a week.
- Limit Shopping Trips: Try and make a grocery list that will last you at least a week. If you cut down on how many times you go to the grocery store you will be spending less money and keeping more of it in your pocket. Cut back how many times you go to the mall or shopping centers as well.
- Buy Generic Brands: Grocery stores offer their own unique brands that are often just as tasty and easy to make as the brand names. They are also sold at some times considerably lower prices than the brand name. You will not only save money every month, but every time you go to the grocery store. If you chosen store offers a club card be sure to sign up and get save even more.
- Turn Down the Temperature: Does turning down the temperature on the thermostat a couple of degrees truly make a difference on your monthly bill? Absolutely. Each 1 degree drop in your thermostat for an eight hour period will reduce your fuel bill by that percentage.
- Lower Phone Bills: Many people choose to have only their cell phones in order to save money every month. If you truly do not need to have either a land line or cell phone, have one of them turned off. If you need both phones, check with your carriers to see if you can get a better rate by either changing the plan or bundling up with your television and Internet.
- Pay Off High Interest Cards: It may not seem like a way to save money, but when you pay off your high interest credit cards first, and continue to not use them, you will in the long run be saving that money every month. If you can, don't use credit cards at all, you are not only spending the money on the product, but you are going to pay the interest if you don't send your credit card a payment in full.
- Bring Lunches: On average, if you spend $5 per day on lunch five days a week, you are spending at least $120 per month on eating out. If you bring your lunches to work instead of eating out you will be saving that money every month, less the cost of buying the food to make the lunch.
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