Saving Money at Home on your Expenses
I was just meeting with a friend on helping him get out of debt. Do you have any debt? What kind of debt do you have? Some people will say there is good debt and bad debt. I know currently there are some people who have no debt, I know of a business that has no debt and has many millions in reserve. My opinion is the best way to live life is through Financial Freedom. The first step to that is to work towards paying off that bad debt. One is example of bad debt may be Credit Card debt at a high rate of interest. We all have living expenses each month and we all have irregular expenses through out the year that we need to plan for. So here are a few quick ideas to think about to possibly free up some of your money each month with out getting another job.
Cable TV or Satellite TV or a Antenna
Do you currently have Cable TV or Satellite TV? I know I have heard of people spending over $150 a month on Cable or Satellite. If you need to free up some money each month so you can pay down your debt you have this is a good area to start with. Myself I was paying $53.99 a month on my cable bill and a few months ago I went to basic cable of $9.99 each month and saved $44 a month just on this one bill. I haven’t missed the other channels at all. I have basic because I need the Internet service they offer. I do have a friend who has no Cable or Satellite service. They use a Antenna on their TV and they get by fine. They have done it for over four years now and they have three kids. I know when I grew up all we had was basic TV and no Cable or Satellite and we survived.
Cell Phone and Home Phone - Why?
If you have a Cell Phone and a Home Phone why? I saved $30 a month getting rid of my home line and haven’t missed it. I did this over a year ago. Now I know six of my friends that have done this and all of them are doing fine. Some of them have kids and still are surviving. Could you survive? I think so. Another thought is if you are really in a tough situation maybe think about getting rid of your cell phone monthly service and go to a pre-paid plan for your cell phone. Depending on if you can keep your calls down to essential calls only. You can always use the Internet to send messages.
Do you still send Cards and Letters or Bills
Why not save money each month on postage? Each stamp is expensive plus the cost of a Card that may be $3. Why not try using the Internet. There are free sites out there also that offers Free Cards you can send. It will save you the cost of a card and a stamp. Even if it saves you on 5 cards a month that could be $20 a month savings. You still are showing them you care. Send them a e-mail letter instead of mailing a letter. It is still communicating with them and you are saving money on paper, envelopes and on stamps. You can also attach photos to your letters to even make it more personal. Or pay your bills on line is another way to say on postage. Think if you pay 10 bills a month. That could save you another $50 a year just on paying your bills on line. It is safer than ever to pay your bills on line and it is hard. Or setup automated payments to be withdrawn from your bank account to save you not only postage but also time.
Gym Memberships
Do you currently pay for a Gym Membership? If you do why not work out at home. I have friends that pay from $20 a month to $70 a month for a Gym Membership. If you need to free up some money why not cancel your member ship and workout at home, go for walks, jogs or bike rides. Another way to save some money each month.
Food Shopping
Take a look at what you are spending on food each month. I recommend that everyone tracks all their spending each month. I feel you should also track what you spend for your groceries you eat at home and track your expenses for what you each out. It may surprise you how much you are spending on eating out. Why not eat at home more and save money. You can save so many ways on smart shopping at your Grocery Store, some quick hitters are buying Store Brand products, buy Ad items if they are a better deal than Store Brands. Use coupons out of the paper for items if they are a better deal than store brands. Think twice if you need that pop or could you drink more water? I have seen people I work with save over $600 a month just on their monthly spending on Food expenses.
How do you save at Home on your Expenses?
Let me know how you save money. I know the above items are just a few ideas and that every situation is different. When I am helping friends out with their budgets it is a more detailed situation. But I feel the above examples are some quick hitters to get started. Please let me know ways you feel that could also help people out. I enjoy helping people reach Financial Freedom. Also please join my facebook and Linkedin using my e-mail of mills.management@hotmail.com.
Have a great day.
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