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We’re all looking for ways to save money, especially as the holiday season draws near.
So, here’s our list of 8 ways to cut costs and save money as you try to reduce monthly expenses in your household:
Make and stick to a budget! Putting your numbers on paper instead of winging monthly expenses help s you to become more organized and prepares you better for unexpected expenses.
Balance your checkbook. Overdraft fees are expensive. Keep track of what is going in and out of your bank account. It’s easy to forget to deduct an automatic payment or write down an ATM charge. Reviewing your bank transactions on a daily basis helps to prevent overdrawing your account.
Use cash instead of credit. Unless you are paying your credit cards off in full every month, you may be spending more on interest than you actual did on the original purchase. Is the cost really worth it?
Cut energy costs at home. Some easy ways to cut energy costs at home are to turn off small appliances and lights and disconnect chargers when not in use.
Eat at home. Everyone eats out from time to time. But if you are doing it on a regular basis, it’s probably costing you quite a bit of your hard-earned money. Try taking your lunch to work, eating lunch out with your friends instead of dinner (dining establishments usually offer lunch specials that are less expensive than dinner meals), or preparing “themed” dinner nights for your family.
Buy certain items in bulk. Statistics show that buying paper and plastic products like toilet paper, napkins, paper plates, plastic utensils, freezer bags and plastic storage food containers saves you money in the long run. Other items that can save in bulk are personal care items like laundry and dishwashing/dishwasher detergent, soap, deodorant, shampoo and toothpaste. Pet food and treats can be an area of savings when you buy in bulk as well.
Review your phone plans. If you have a landline and a cell phone, review the cost and usage of each. Most cell phone providers offer your phone usage statistics to allow you to see just how you are using your phone. Keep in mind that if you are changing a plan, you may incur som e fees, so make sure to take that into consideration.
Look at ways to save money on your automotive costs. Save gas. Stay within the speed limit. The faster you drive your car, the more gas it takes. You can also save gas by keeping your stride steady. Constant stops and starts use more gas than keeping a consistent flow to your travel. Using the cruise control helps with this.