Until the economy crashed this last year, we have forgotten what it means to save and why we do it. In previous years, we've referred to our investments in the stock market as our giant piggy bank, selling a few shares when you need a few extra bucks. With the plummeting stocks and our home values falling, we have little else to turn to if we don't have the hard cash in the bank. Let's learn how to reconnect with the art of saving, one penny at a time. It's extremely important to know where every little penny goes and why. If you're spending your cash, are you spending it wisely while also saving some for future use? We can save in the most simplest of daily tasks, many of which we wouldn't even think of.
Save money on fuel by riding steady at 55 MPH rather than 75. Your tank of gas will take you a lot further if you just slow down a tad bit, adding 70 cents per gallon back to your pocket! Do you start your car and then buckle up the kids, adjust your mirrors, move your seat? Starting your engine before you're actually ready to drive off does little for you except waste your gas.
Save a few pennies everyday but keeping your thermostat a few degrees cooler in the winter and a few degrees warmer in the summer. For the winter, keep your home at 65 during the day and just layer on an extra sweater. At night, drop it down to 60 and crawl under a second blanket for added warmth. Since the cooler weather has just hit, it's the perfect time to try out this alternative method and start saving today!
Is it feasible for you to walk or bike to work rather than taking a car, bus or train? Walking or biking can save up to $5 per day, which totals over $1200 a year! Also, if you don't eat out every day at lunch you're saving additional fuel plus the cost of having to buy a meal at a restaurant. Speaking of eating, start looking online for delicious recipes you can make at home rather than taking your entire family out for dinner a few times a week and watch the savings rack up!
Are you a smoker? If you're not going to quit for your health, at least quit for the sake of your wallet. With a pack of cigarettes toppling over the $5 mark, for an intense smoker that consumes two packs a day, that's $70 a week and over $3000 a year. Think of someone who has smoked for 20 years, that cost is nearly $75,000, that is if you're still alive after 20 years of smoking!
Big movie buff? Did you know that you can rent movies for FREE from your local community library? The last time I rented a DVD from Blockbuster, I paid close to $5. Who knew I could have saved that money for a rainy day and visited the library instead.
Although it's tempting for those ‘just in case' emergencies, refrain from adding additional insurance, extended warranties and service contracts on appliances, gadgets and cars. Typically, you won't ever get the chance to even use what you're paying for.
Finally, manage your credit cards better. If you can use cash, check or debit card on a purchase, do it! In the old days, credit cards were for large purchases such as airline tickets, car rentals and large appliances. Today, we whip out the trusty ‘ole credit card for just about anything, with the mindset of paying it off later when we just happen to run into the money to cover the expense. Also, when you get a credit card statement, don't just do the minimum payment - you'll never catch up that way. Pay at least 10 perfect of your balance, and if you can do more, do it!
Take these methods of economizing, and any other ideas you may have, and start using them as soon as you can. It won't be long before you notice the savings stack grow higher and higher!
Contact us today: 214.923.0261 or email us: info@archwoodproperties.com
Comments(1)