If you’re low on cash at the end of every month and are about to despair of ever getting ahead of the game, it may be time to take a close look at where your money is going every week. Sure, we’ve all heard about how much we can save by skipping that daily latte, but you don’t have to sacrifice your only personal indulgence as the only way to start a savings account. Here are some other ways you can save on your household expenses:
Save all your receipts. With purchases that are made with a mere swipe of a bank or credit card it’s easy to lose track of how much you’ve spent and where. Save all your receipts in one place and itemize them once a week or once a month so you can analyze just where your money is going.
Don’t impulse buy. Just because something is on clearance doesn’t mean you should buy it! If you see a great deal you’re afraid to pass up, stop and do a quick online comparison. You may find the going price isn’t any higher online, and that Amazon has a lower price plus available discounts. If you can’t find the item cheaper, consider whether you’ll really use it or if it’ll just gather dust once the novelty wears off.
Do a line-by-line study of your household expenses. You may find you can easily trim money off your cable bill by downgrading to a lower channel tier or by switching carriers; the same goes for your phone carrier. Often you can find a lower price and the new company will buy out your old contract!
Have an energy audit done. Find out where you use the most energy and ways to cut your usage. Often it’s a simple as insulating your attic or buying new drapes to cut heat loss through your windows, but a big part of your energy consumption can be found by installing a programmable thermostat and getting used to a few degrees difference in the temperature of your home!