WCHY
WMMM
WOLX
Balance Madison
CareersFinance_03_617x130.jpg

Poll

Save More Money Every Month

Effortless ways to keep cash in your account.


Saving a little extra money every month can really add up over the course of a year.  Go ahead and choose one (or get ambitious and choose a couple) of these tactics to get yourself started.  Sometimes it’s just a matter of breaking habits, other times you may be overlooking a strategy that already makes sense in your financial life. 

Eat out one less time a month.  The art of cooking may not be your preferred hobby, but restaurant visits for the entire family really add up.  Statistically, the average US Household spends 5.5% of their money on eating out at restaurants, not groceries, restaurants.  Since everything spent on eating out is discretionary, this could potentially be a huge area for savings!  If you can start with just one less outing each month...that's an extra $35 a month (on average).  You could also begin bringing your lunch to work.  Food costs can also be curbed by making a list and sticking to it when you go to the store.  There are all kinds of ways to be frugal without missing a meal.  By sticking to your list, you will have less "impulsive" buys and will be able to shop around for deals on the items that you need. In addition, USE COUPONS...they are free money!

You can also try to lower your energy bills.  Ask your local utility company how you can lower your energy bills. They will have lots of suggestions such as weatherproofing your home and using window coverings. In addition, if you for every 1 degree you turn down your heat, you will save about 3% on your heating bill each month. (Also, consider using less A/C during the summer months).  You can also turn down the temperature on your water heater to 115-120 degrees without any noticeable difference. This will save money as your water heater will use less energy. For the conscious utility user, these steps could easily translate into savings of $20 per month.  Remember, every small thing adds up.

 

Source: ezinarticles.com