It’s a Sunday and the last day to rest before the week starts. Before the work weeks starts just pause and think about how much you can save during the week, especially if you have a family. Chances are that you have huge bills and not enough savings.
Here are a couple of tips and tricks that we are trying to adapt in our daily lives that I would like to share with you:
- Budget, Budget, Budget! I know a lot of people including me (yes me I am guilty of this as well), do not have a monthly budget of what our income and expenses are. Leave it to karma and who knows how much we are saving. Well, a simple solution is to look through a couple of youtube videos on Monthly family budget excel, and you will find quite a few DIY videos. If you are not good at excel then just use a simple pen and paper to write down how much you make, versus how much you spend. If you are interested I can break this down even further in another blog.
- Quit buying coffee. So here is the run down. I know people are creatures of habit. They wake up in the morning and buy that cup of coffee that could range anywhere from 2 to 3 dollars. If you are lucky McDonalds has them for 99 cents at times. If you do the math even at a dollar, you are spending 30 dollars a month times 12 months a year and that could be 360 dollars extra money that you could have invested or paid down your debt with.
- If you have a bike ride your bike to get the groceries. This will save money on gas.
- Cut down on cell phone bills. This is a big one. Think about how often do you use your cell phone and move in a direction of no contract phone plans. Try to use the wifi zones as much as possible. There are apps that let you make calls in wifi zones.
- Internet and TV: I still need to figure this one out since we have the monopoly of comcast where we live.
The underlying concept behind saving is shifting habits that we are so used to accomodate the concept of saving in our daily lives. I am sure there are a lot more stories out there of how people have saved. I would love to hear from you all.