5 Tips To Save More Money

Hi There!
I’ve been wanting to provide more resourceful information on my blog (rather than “look at how cute my kids are” kinda posts-lol) so to get things started I thought I would share some tips to save more money.

We all want to save more money, right? Right! And we all know that we could spend less here there and  but what if that’s not enough? If you like eating out and shopping (like I do) and still want to live a certain lifestyle but save money while doing so then these tips are for you, so here we go…(these are in no particular order)

FYI- I will be creating a video soon to add to this post (for those that don’t like to read) 🙂 

  1. Evaluate expenses often- There’s always a time of year where I sit down and start looking through all of our income and outcome (bills, expenses, misc). This is great but must be done more than once a year. You need to keep this information fresh so that when you spend you know how much you can spend and how it will affect your savings
  2. Cut out Bills- Once you’ve evaluated your bills, look at certain items you can cut out and don’t need-those “luxury” items. For instance, we recently bought a new mini van which made our previous car payment go up $35. No, it’s not a lot but it is extra money we didn’t plan for so how did we make it up? Well, we decided that we could cut out cable television. We noticed that we only watch a few shows at night before bed and we already had netflix that had the shows we liked. We got an antenna for $30 and now have basic cable and netflix. Cutting our cable has saved us $100 per month!
  3. Setup Automatic Transfers- I just recently discovered this and I love it! If you do online banking (which most people do) you should have the option to transfer money from one account to another. Instead of transferring money to savings whenever you can, set this up automatically for each time you get paid. I get paid every two weeks and have set this up accordingly. For example, say you get paid $1000, setup your automatic transfers for $200 each pay day and only account for $800 when you do your budgeting. Trick yourself into thinking that money was never available and before you know it you will be saving $400 a month! See example here:
  4. Track Expenses Online– I know there are budgeting tools out there where you can link your bank account to help track your expenses BUT your bank should already have this option available to you for online banking. You can set budget limits for different categories and track your expenses as you go. Here’s an example…
  5. Sell, Sell, Sell!– I bet you that if I walked around your house I could find tons of things you don’t use anymore! We all have them and it’s just money sitting around. I recently had a garage sale and made $350! Woot, woot! It was so nice to have that extra cash on hand to use on misc items such as eating out and buying things rather than tapping into our checking account. There’s two ways to save here- selling your items let’s you have extra cash on hand to spend and not touch your regular income OR you can take that extra cash and deposit it right into your savings account. BAM!

Hope this was helpful! Let me know if you have any other tips 🙂

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