When we think of saving money what’s the first thing that comes to mind? Probably a boring life where you give up everything you love only to stare at the wall right? Well, not really…nobody said budgeting had to be boring, in fact it can be fun and often times eye opening.
Unless you’re in a total world of financial hurt, you probably don’t have to save thousands of dollars, so the little things add up. The important thing is to try to do the things you love, but make it a game. Have a competition with you and your husband/wife/friend/family to see who can get the most for the least.
Try to think of creative ways to buy the same products or do the same things you always do. Here are some ideas to get you started…
- Want new clothes or shoes? Find styles you like and try them on in a store but don’t buy them… instead get the item number and buy them on EBay or Amazon instead.
- Look around for free coupons online. Most major retailers have online only deals and coupon codes you can use for significant savings. Just a quick search for your product followed by “coupon code” will give you surprising discounts.
- Try other brands. In my last post about my bad spending habits I talked about how I spend too much for my coffee at Dunkin. Well I started paying more attention and saw that not only did McDonalds have the same coffee for less than 1/2 the price ($1.07 vs. $2.47) but it turns out that I like the McDonalds coffee better. Keep your eyes open for cheaper alternatives and you may find something you like even better.
- Refinance your debt. Any credit cards or loans that you have that can be re-financed… do it! When you refinance to a lower interest rate one of two things will happen… 1) you will have a lower payment or 2) you will have the same payment but pay your debt off faster. Which of these is a bad thing? Yep, neither. And the refinance process is a lot simpler than you assume.
- Lastly and perhaps most importantly reward yourself for saving. Set a goal for yourself and when you meet it find a way to reward yourself. Find a way to save $1,000 you buy concert tickets, a new pair of shoes, go out to dinner… you get the idea. Obviously don’t overdo it or you will defeat the purpose but having a defined goal and a reward when you get there will go a very long way.
The bottom line is that saving money doesn’t have to be impossible, you can find ways to spend less money and make easy cuts by being creative you will find ways to save money you never knew existed.
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