The economic downturn is unfortunately affecting us all. Wouldn’t it be great if we could lessen our routine spending? Well we can.
If you think about it there are lots of ways to save money. Here are just a few suggestions and ideas:
Shop around for a new home loan. If you have a mortgage or home loan and you are not tied in to your bank or finance company you will find that shopping around can get you a better deal. There are some fantastically low interest rates around right now so it makes sense to take advantage and ensure you have the best deal available.
Minimise credit card bills. One crucial way to reduce your monthly outgoings is to pay off your credit card bills. But if you can’t immediately find the money to pay off your credit card bill you should look at transfering to another card that is offering 0% interest for as long as possible then endeavour to pay off your card bill before the 0% period expires.
Reduce your utility bills. It is likely that you are paying more for your gas and electricity than you need to. Like your mortgage, it is worth shopping around for the best deal. It can take a little effort but there are some very helpful websites and the result will be good for your pocket.
Reduce transport costs. Owning and running a car is a necessity for most people. but everyone can all make some savings in this area. Rather than buy your next car why not consider car leasing. Personal car leasing has become immensely popular as people have become aware of the benefits and savings that can be made. Also, why not think about car pooling for your journey to work. At the very least you could offer to give a lift to someone who must do the same daily journey so that you can split the cost of fuel.
Buy your groceries from a cheaper supermarket. Different Supermarkets can charge enormously different prices for the same basket of groceries. Make certain you are not paying too much and get all your regular groceries from the cheapest source in town.
Do it yourself. Where possible why not do as much as you can for yourself. For example, rather than visit the car wash why not wash your car yourself. Rather than take your car to the garage for a service why not do it yourself. Rather than employ a window cleaner, get out your bucket and sponge and do it yourself.
Cut out expensive habits. If you smoke then stop. This is a no-brainer. Smoking is simply bad for your health, bad for your pocket and it makes you smell bad so why do it? If you enjoy a tipple then try cutting down. Maybe limit yourself to drinking only on special occasions.
Holiday at home. A staycation can be a good alternative to that expensive cruise or tropical holiday. Staying at home doesn’t have to be dull or boring. Take a week off work and pack your week with visits to museums, art galleries and free exhibitions. Wrap up in some good outdoor clothing and get out into the countryside or down on the beach for some nice long walks. While you may not be getting a Caribbean tan you will be saving a fortune and still having a great time.
I hope that these simple suggestions and ideas provide some food for thought and maybe save you a few useful bucks. While they may seem a little penny-pinching making savings in this way could make all the difference between hanging onto your home and foreclosure or repossession.