12 Weekly Savings Tips To Live By
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Now, more than ever, as most goods and services seem to keep rising in price, it’s important to strategize a money-saving plan. Saving money by monitoring spending habits and cutting expenses can go a long way. Any person can turn his or her financial life around by simply committing to relearning how to view money. The only way to be successful and purposeful with a new personal financial plan is to be open-minded and willing to make real changes to old habits. Those interested in discovering simple ways to mindfully improve their finances should read the tips below provided by the team at Food-Stamps.org.
The 30-day rule
When making a big purchase, there is no need to rush into anything. After receiving a paycheck it’s easy to quickly blow money when a shiny new thing catches your attention. The team at Food-Stamps.org suggests waiting 30 days before making a big purchase. In those 30 days, you can decide if the purchase really makes sense. You’d be surprised how many purchases you make that would not pass the 30-day rule if you were to implement it into your life.
Don’t spend big money entertaining your kids
Parents often think that kids need the biggest and newest toys in order for them to be happy, but that’s simply not the case. Children often want their parent’s time and dedication, whether spending a day at the park together or drawing indoors and watching a movie.
Write a list before grocery shopping
One of the easiest ways to save money is by making a list before grocery shopping. Without a list, it is easy to make impulse purchases based at what you are craving and what you see. The Food-Stamps.org team suggests creating a shopping list to follow that will ensure you buy the things you actually need and stick to your budget.
Negotiate credit card interest rates
An unpaid balance on a credit card can accumulate a lot of interest over time. It is important to know that if you have been making payments, you still may have power over controlling the situation. The Food-Stamps.org team found that not only do you have the right to negotiate your current interest rate with your credit card issuer, but transferring a balance to an entirely different card with a lower interest rate is also a completely viable option.
Plan your meals
Food can be extremely expensive when you don’t have your meals planned. Blueprinting your meals usually also means healthier meals, compared to unnecessary splurges. Rather than going out for pizza or getting fast food for everyone, planning meals will be exponentially cheaper and will save you money overall.
Most generic products are identical to their brand name competitors. Essentially, customers are paying for a box design and name. Sometimes, consumers do not even realize that they are buying generic brands because of how customary it has become.
Buy in bulk
Buying items in bulk often means a cheaper price tag. Only purchase items in bulk that make sense. Purchasing a pack of 50 cookies may lead to eating more than usual, causing you to spend more by going through it so fast. Toothpaste, soap, toilet paper and cereal are all items that make sense to be bought in bulk.
Plan for those ‘no cooking’ days
Fast food does so well in our society because of how convenient it is, and most people are always in a rush from one place to another. On those days that you’d rather stop at a fast food joint instead of cooking a meal for the family, it’s most tempting. Therefore, the Food-Stamps.org team suggests that families keep healthy meals frozen and ready to pop into an oven at a moment’s notice. On days where you already are cooking, try to make an extra portion to store for a long, tiresome day.
Don’t wait to get gas
Make a habit of filling up your gas tank when feasible. By waiting until you are on empty or close to empty, you indirectly spend more money in the long run. When you are on empty, you have no option to look around for cheaper gas, and usually have to settle with whatever is available, even if it is more expensive.
Get an energy audit
Energy audits explain exactly where energy leaks are, so that residents can focus on improving the most important places to save money. Many utility companies now offer free energy audits for customers, because it allows customers to learn about conservation. It’s important to unplug appliances to conserve energy and not waste money. Keeping your computer, microwave, television and toaster plugged in at all times is a waste of energy and money.
Review your finances weekly
Saving money and being realistic with financial goals is important. Every week, plan out where money is going and commit to reviewing any purchases that were made. Then, you will be able to weed out the most unnecessary purchases to break your bad spending habits.
Set real and tangible goals
It’s crucial to be specific with financial goals. Saving can be exciting at first, but after weeks of putting money away, it’s easy to lose motivation. Hold yourself accountable by checking that you’re meeting certain goals. Creating a visual chart can help keep on track when trying to meet financial goals.