Just changing a few habits in our daily life can make a big difference in how we spend and save our money.
Here are a 10 budget tips to help you get started making your money go a lot further.
1. Shop Less
Only shop for groceries one time a week, instead of anytime you run out. If you can stretch it out, only go every two weeks. The fewer times you go into a store, the less money you’ll spend overall on last-minute purchases.
2. Use a List
No matter what you’re buying, whether groceries, clothing, or supplies, always shop with a list. Don’t buy anything that is not on the list.
To take the list a step farther, only buy things within price ranges you’ve determined are good deals. If you want a new blazer and you’ve set the bar at $50.00, don’t go over it; shop until you find exactly what you want.
4. Save the Difference
If you budgeted X amount of dollars for something, and you found it cheaper, save the difference. Better yet, put that difference you saved into a savings account.
5. Save Your Change
When you buy something, only pay with bills. Collect all the change at the end of each day. At the end of the year, take whatever change you have saved to the bank and add it to your savings account.
6. Automatic Withdrawals
Most banks and employers now offer automatic withdraws for savings accounts or investments. If you get this set up, you’ll never see it. Shoot for 10 percent of your earnings or whatever your company will match as the minimum amount.
7. Cash is King
The more cash you have to offer someone on something they’re selling, the more power you have. It doesn’t matter if it’s a washer and dryer, a bed, or a car – if you have cash to give, you’ll get a better deal.
8. Rental Car
Don’t rent from the airport; instead rent from a nearby location which will bring the car to you. You’ll save money this way.
9. Be Ready
Keep performing needed maintenance on your stuff, you’ll avoid last-minute disasters as you’ll be ready for issues that pop up.
10. Do a Checkup
Periodically, do a financial checkup by calling the phone company, cable company, insurance company, and anyone else you pay monthly to ensure that better deals have not come up recently.