|Important Tips On How To Save Money|
Many financial advisors proclaim that one needs to save a minimum of 10% of your income. However you can really increase your savings buy watching carefully the amount of money you spend on items such as beverages, communications, entertainment, food, housing, transportation and more! To really see how much you are spending the first thing to do is to track your daily, weekly, month and annual expenditures. Below is list of several ideas on how cut back on spending and save money.
The Usual and Important Bills to Cut Every Month
Cell Phone-If you like to talk on your cell phone, you may want to purchase a cell phone plan that provides unlimited talk minutes and texting. Many companies now have a pay as you go unlimited talk plan for a reasonable fee of around $50.00 monthly or less. Using an unlimited calling plan can save you hundreds or even thousands of dollars.
Home Phone-If do most of your communications on your cell phone you may want to consider eliminating you home phone. Doing so will eliminate double spending for telephone communications.
Internet-Today there are many companies providing internet access, dial up, broadband and other high speed access options can be costly. Make sure you choose the options that takes into account the amount of usage and speed required. If you are only going to use the internet to check your emails dialup might work and the monthly cost would be reasonable. However if you need business applications, downloading software and videos ect... you might need broadband or high speed internet. Which ever you select shop around for the best price and value.
TV ? The case is made countless times but I bet many of you still pay way too much for your favorite shows. There are many legal ways to watch TV online like hulu.com and if you are a movie buff, there's always Netflix.
Gym Membership-Gym? Do you actually go? Most people are going after a healthy and fit body instead of becoming a muscle man (or lady). The fittest people are always the ones who go out to jog every day. They run on the road, on the beach and in the parks. You don't need to smell other people's sweat and pay a bunch of money just to stay fit right?
Clubs, Newsletters, Subscriptions-Enough said. Unless they provide real value, stop paying for it!
Electricity-Many tricks we know, but in order to save money every month, we have to change our habits! Turn off the lights and electronics whenever it's not needed, dial down the water heater to 112 degrees, open the windows instead of using A/C are all simple ways to not only save but to put less strain on the overall environment.
Pills-It's easy to switch your subscriptions to generic brands and best of all, it's almost always cheaper. (Stole this tip from Frugal Dad. Check out his list at the bottom of the post)
Cars-Oil changes and regular maintenance may be out of your league but wash your own cars. Please!
Insurance Companies-Call the representatives regularly and see if there is a better deal (remember their competition as well). If everyone does this, it may even create more jobs!
Activities You Should Try
Stop Bringing Your Credit Card Out for a Month-At first, you will feel very restricted but you will slowly realize where you are spending money on. It's amazing that we remember our purchases so much better when we pay in cash!
Try Paying All Your Bills by Check for 3 Months-Stop all the automation for 3 months and see what happens. When you have to spend time to handle payments, you will find a way to cut out the ones that aren't absolutely necessary.
Pretend You are Broke for 2 Months-The ramen days are over but that doesn't mean the hard earned money that we have should go to waste. Try it. It's quite fun (I lived with $34.01 a week once and learned a few things)
Add Up All Your Monthly Recurring Subscription Cost for the Year-It's amazing how pricing strategy works. $37 a month is actually closer to $450 a year. It's not that cheap after all.
Check Your Credit Card Statements-One of the worst money suckers are the ones that automatically charge our credit cards. It's no wonder why my credit card balance is 4 digits every month and I left the card in the freezer!