Everyone fears the word budget but don't be afraid. A budget is your lifeline to financial peace. A budget helps you know how much money you earn and spend each month. A budget is called many different names but the main goal of a budget is to help you live below your means. Nothing stays the same forever which is especially true today. Here are 10 helpful tips to help you manage your money.
1. Needs vs. Wants – buy more needs vs. wants to help reduce expenses.
2. Reduce spending – buy in bulk, on sale, at discount stores, online or use coupons, buy generic brands. Try websites such as groupon.com, coupons.com, freecycle.org, ebay.com or craigslist.com to find bargains.
3. Groceries – don’t go shopping when you are hungry, buy items on the lower shelves and ask about specials, join store clubs to get alerts on discounts.
4. Banking – open accounts with little to no fees, ask about discounts and specials, and establish a relationship with the branch manager to get alerts about specials and new products and services that could save you money. Don’t use check cashing stores or cash checks at the liquor store.
5. Driving – buy gas in the morning, combine nearby trips on the same day, keep the trunk empty, keep tires at the proper pressure level, get regular maintenance on your car, look for the cheapest gas and buy a gas efficient car, ditch the gas guzzler. Drive the speed limit to also save money on gas.
6. Medical – buy at least basic medical insurance for you and your family, get a prescription card and fill prescriptions at discounts stores such as Wal-Mart or Walgreens to save money, negotiate medical services to save money and ask about programs for uninsured or low-income patients.
7. Insurance – buy insurance for health, life, disability and your home. Buy bundled services to save money, buy homeowners and car insurance with the same company and ask about discounts.
8. AAA – triple AAA offers lots of discounts with partner companies that are not advertised, ask each company you do business with if they give discounts to AAA members.
9. Compare – Comparison shop before making a purchase to get the best deal. Use sites like bizrate.com, nextag.com and pricegrabber.com.
10. Clothing – shop at discount stores, buy clothes in off-season, check out discount racks at stores and ask if stores if they honor competitor coupons. Buy a few jackets and mix and match pieces to stretch your wardrobe.
1 comment:
Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic. If possible, as you gain expertise, would you mind updating your blog with more information? It is extremely helpful for me.
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