It’s hard enough to make sure that the amount of money coming in exceeds what’s going out. By the time you pay your monthly bills, not to mention food, gas, spending, plus hopefully creating an emergency fund and saving for the future, the money is spread pretty thin. While, sure, you could get a second job to make a little more money, but who has time for that, so the next step is to try and free up money on monthly expenses wherever you can find a spot.
Try a Spending Budget
While clearly not for everyone since experts have said that two-thirds of the population doesn’t follow a budget, but that is probably not a good thing. If you are having trouble freeing up extra money you can try allocating where funds are going in the month, and once the money is gone, it’s gone until next paycheck. Sure, you will probably have to tweak how much you are allotting for, but that is part of the process in having a successful budget. Maybe it will at least curb spending a bit and you can open up extra money each month.
Make the Tough Cuts
No one ever said saving money is easy, probably the reason why lots of people don’t. If you are really having trouble freeing up extra money and you have exhausted all attempts, then it is time to make the tough cuts. For starters, look to cutting the cable cord. You probably don’t watch enough TV to necessitate spending a couple hundred dollars a month. With the best shows on streaming services these days anyways, you can get an HD antenna for $20 to get local channels, and then get a streaming service or two like Netflix and HBO, and you’re probably good to go, without paying to flip around with nothing on.
Compare Prices
It used to be that comparing prices would mean you would see the product and then go store to store to find the lowest. While it may have made sense before, with online shopping now there really is no need to waste gas and time on driving around town when you can click from website to website in a matter of seconds to see what the best price is. The best part too is the free shipping, so you can shop for the best price and then have it shipped for free, arriving a couple days later.
Discounts are Key
Whether it is clipping coupons to go growing shopping, using Groupon, or mail ads that you receive probably daily, there is still no reason to pay full price on anything that you can help. Sure, it takes a little legwork, but saving money is the goal in the end. In addition to coupons, if you can get a good rewards credit card you can money back on the purchases that you were going to make anyways, whether it’s in the form of miles, points, or even rewards dollars. There are plenty of discounts out there, if you are willing to put in the time to save money.
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