Top Ten Ways to Save Money this New Year
With expenses rising and incomes shrinking most of us are looking for ways to cut spending. As our wallets get smaller, it’s necessary to look for easy and creative ways to stay within our budgets. The following suggestions are top ten ways to save money in the coming year.
One: Organize your closets and drawers and weed out items that you no longer need. List them for sale on websites designed for this purpose and in your local paper. Hold a yard sale. Exchange no longer used items with family and friends.
You are less likely to buy items that you already have on hand if you check your cabinets before shopping. Remember that space is valuable and clearing out not only restores energy, it creates the potential for positive change!
Two: Save by using coupons and discount certificates on food items and supplies that you would normally use. Save on services such as oil changes and carpet cleaning. Buy items second hand and exchange services when possible.
Three: Eat out less and prepare more meals at home. Pack your own lunches. Plan ahead and buy food items in bulk. Focus on fruits and vegetables that are in season. Fresh foods are not only less expensive, they are usually healthier. Try not to shop for groceries when you are hungry and avoid processed foods as much as possible. Steam and stir-fry foods for better flavor and greater nutritional value. Cut sugary soft drinks and sodas and make sun-tea, fresh squeezed fruit smoothies, and drink water!
When you do eat out, look for “early-bird specials”, share entrees, or ask your server to divide your portion in half (before serving) so that half the meal can be taken home for later.
Four: Travel within your home town. Make a list of low cost or free entertainment in your area. Watch for special deals and family values. Take your family to a local park and have a pot-luck picnic. Remember it’s not about the thrill and expense, but about being together and valuing each other’s company!
Five: Entertain at home. Watch movies at home, exchange DVD’s with friends, and check out great movies and books on CD at your local library! Invite friends over for a movie night. Host a weekly game night with friends and family.
Six: Save on housekeeping and yard care by doing the work yourself, exchanging services, hiring a teenaged neighbor, or simply by cutting back. A “zero scape” garden can save you hundreds, even thousands of dollars, on your water bill.
Seven: Consider keeping your savings in money market and mutual funds where the long term yield can be three to five percent higher for longer term investments. Review the interest that you are paying on credit cards, check and compare current rates for utilities, look for special travel fares, and speak to representatives about lower rates and the “best prices”.
Eight: Review all bills carefully, especially medical bills. Check over details, ask for clarification, and make certain that you are not receiving duplicate billings. Check to make sure that you are not being charged for items or services that you have not used or purchased!
Nine: Make your own beauty and cleaning products. A wonderful face wash can be made from honey, liquid soap, lemon, and water. Vinegar and newspaper are excellent for cleaning windows. Check out the many homemade product ideas on-line. It’s possible to save hundreds of dollars and avoid unnecessary and harmful chemicals by carefully making your own cleansers.
Ten: Save on gift giving throughout the year by buying items on sale, sending e-cards, and making your own gifts, cards, and gift wrap.
As the New Year begins, it’s the perfect time to start a gift cabinet, clear out the old, make subtle but significant financial changes, and prepare to save money!