It is not news to anyone that we are in the middle of a economic slump and for many of us that leaves us looking for ways to trim costs. While things look like we are recovering and we eventually will have times of prosperity again, this doesn’t mean we shouldn’t forget the lessons we have learned from our recent hardships.
Being smart about how you spend your money and looking for ways to make your dollar stretch further are always good things. The problem is that while everyone knows making the most of your money is important, a lot of us don’t know how. The following five tips will benefit anyone no matter what their budget or lifestyle looks like.
Take Advantage of Coupons
Most of us can probably remember our parents opening up the Sunday paper and clipping out coupons in order to make the budget stretch a bit further. For some reason a lot of people have stopped doing this and honestly, if you are serious about slashing your costs, this is a great place to start. Coupons still exist, and they really can save you quite a bit of money. Yes, it takes a bit of time to clip the coupons out that you will actually use, but spending this time will result in saving money.
Combine Trips Whenever Possible
One of the biggest costs for everyone is the price of gasoline and it’s only going to get more expensive. For many people this means cutting down on the amount they drive and while that is a start, another thing you can do to cut costs is combine trips.
For example if you have to be at the doctor’s around the same time one of the kids has to be at soccer practice, instead of driving yourself to the doctor and having the other parent take the kid, put everyone in the same car and arrange a drop off and pick up for whoever will be done later. Doing this means having to plan ahead a bit more, but if you stick to it you will see that you have saved yourself a lot of money.
Quit Using the Dollar Menu
While it is no secret that eating out is expensive, most people don’t realize that the two or three bucks you spend on the dollar menu at the drive thru add up pretty quickly. While the food is convenient it is a lot more expensive than you might realize.
You can feed yourself more food for less money simply by switching over to frozen meals. These are still convenient but a lot less expensive over time. A lot of people know this but insist that frozen meals don’t taste as good, in this case prepare food at home and take it with you.
Get rid of Unnecessary Monthly Payments
Whether it is the credit card you keep using or the extra fifty channels from your satellite provider chances are you can find monthly payments in your budget that you don’t need to be paying. By taking time to comb through your expenses you can save a lot of money.
Cut Down on Bank Fees
Believe it or not bank fees can add up really fast. Take some time to find ways you can reduce your bank fees and you will start saving money, a lot of money.
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Mark Connor lives with his wife and daughter while he researches topics like What is PPI, How can you make money on interest, and where are the best places to invest your money. He writes about these topics all around the web.