If you watch any financial expert on TV or pick up any article about the economy , all they say to households is to spend less and save every single penny we can for rainy days that might be ahead. How do we practically spend less, specially if we are already living paycheck to paycheck? This is when a light bulb went on in my head...why not start a blog where people can share practical ideas that already worked for themselves.
Have the difficult times made you more creative about spending money? If yes, please share.
I have been doing the following myself:
- no longer eating out, I do miss it but it's a very expensive habit
- resist going to the vending machine, it's cheaper to buy in bulk a few snacks from the grocery store
- if I absolutely have to go to a drive through, I only choose from the value menu
- make a list before going shopping, it prevents me from forgetting stuff and having to drive back to the store to get the missing items
- called my Internet/cable company to find out if there was a cheaper way for me to get those services, turned that by reducing my Internet speed I could save 20 bucks a month
What about you, what have you been doing to spend less?
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Well, I have never really been a big spender so am not doing too much differently.
ReplyDeleteBut eating out is a no no, although I have to say, cooking everyday is not good on my BGE bill. I would like to hear what other people doing?
JOKS
I have not kept records on whether the following step saves money, but it does give you a feeling that you are not spending much.
ReplyDelete1. Do not go to a bar, alcohol is more expensive than food, invite friends over at home so it is cheaper for everyone. For eg: Turning Leaf (brand of wine) costs 6 or 7 dollars per bottle at store, you have to pay 6 dollars per glass at the restaurant. So you are paying 400% more
2. Buy at wholesale stores (Sams-club, Costco, etc). I do not recommend buying everything at a wholesale store. I buy cleaning products, soda, snacks, paper towels, tissue papers,coffee, etc at these stores.
3. Do not buy a new car, unless you absolutely have to. You have to finance it so that is a monthly payment, it depreciates in value everyday and the insurance premium is higher than on older cars.
4. If you have to travel, plan in advance. Use websites such as Orbitz and Expedia. My favorite is www.hotwire.com. Example: I had to travel last month, so I decided to rent a car and went to Hotwire. When I looked up the cost it was $26/day, I decided not to book then but later. After a week the price went to $35/day.
5. Do not buy hardcover books if you are a reader. Use the library first, if you have to own a book then use websites such as half.com You can also buy CDs at dirt cheap prices.
6. Do not buy popcorn at the movie theater. that is a big no no
7. Do not go for brand names with everyday household goods. For example: regular Coffee creamer...you can buy coffee mate brand or go with the store brand and save $2.00
8. Do not throw milk if it is past the expiration date...smell it before you throw....I was just kidding!!!
the whole point is to live well below your means. and if you are living paycheck to paycheck, then you have to start small. first, start by transferring $20/month over to a separate bank account. after a few months, steadily increase it until you can reach your comfort level.
ReplyDeleteGood you shared this.. me I gave myself a budjet now so I try to monitor my expenses. I eat at home as much as possible ... that makes a big difference... and take my snacks from home 'cause a dollar here and there add up.
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