CREATE A BUDGET
1. Create a monthly budget for yourself and stick to it! You’d be surprised to know how much you can save when you really plan your expenses out each month!
2. With your monthly budget in place, create an emergency fund that will enable you to use without the need for use credit cards.
KEEP THE LOOSE CHANGE
3. Save your loose change. When returning home from the grocery store, throw your change in a jar and place location that is not often see everyday to become an additional emergency fund.
DITCH CABLE TV
4. Ditch your cable bill. I haven’t paid for cable in nearly two years. Most of my time spent is either online and reading. If I do watch TV, I’ll typically watch the major networks that are over the air. So far, I’ve saved nearly $1,800.
TAKE YOUR LUNCH TO WORK
5. The cost breakdown between eating out and bringing your food from home can quickly add up. If you plan accordingly and financially, you can easily spend at most $4.50 per meal in comparison to on average $9.75 for eating out. That’s a $5.25 difference for a grand whopping $1,365 per year ($5.25x5x52). Over a 30 year period that’s $40,950!
LIMIT YOUR FREQUENCY WHEN EATING OUT
6. Eating out on the weekend will absolutely kill your bank. It’s important to have a balance as well. For the sake of conversation, let’s assume you eliminate eating out to once per week versus twice per week. That’s an instant $15-$30 savings! That equates to: $780 – $1,560 per year. Over a 30 year period, that’s a cost savings of $23,400 – $46,800!
USE GROCERY COUPONS
7. Use several coupons from Coupons.com when shopping. If you can achieve at least $5.00 in savings per week (which is super easy), that’s an extra $260 per year!
ELLIMIATE EXCESSIVE SPENDING ON JUNK FOOD
8. Believe it or not, eating healthier can be significantly less expensive than adding excess junk food to your shopping cart. The less garbage in, the more money you’ll put out and save. Eliminating $15 in chips, sodas and cakes per week is a cost savings of $780 per year.
MEN: CUT YOUR OWN HAIR…LADIES: PAINT YOUR OWN NAILS! WHAT?!
9. Believe it or not, I was so frustrated from a bad haircut by a local barber that I drove nearly an hour away twice per week to get a haircut with my son. After a year of driving back and forth, I was tired of being sick and tired. I watched several tutorials on YouTube on how to trim and fade my own hair. Nearly three years later between my son and I, we’ve saved approximately $3,600.
My wife took the initiative to paint her own nails and reduce her frequency to the nail salon with our daughter. In a give year, she’s saved nearly $480- $840.
DIY AND FIX IT YOURSELF
10. If there is a will, there is a way. If someone can fix it, more than likely you can too. I cannot tell you how many times I’ve researched tutorial videos and online references to fix cars, remodel homes and cook gourmet meals. There is an unlimited amount of resources online that can help you complete just about project. With home renovations and vehicle repairs, I’ve easy saved over $5,000 last year.