Presently our country is in an economic recession, many people have lost their jobs and many businesses are closing. Below are a few easy tips to help you reduce your expenses and trim your budget during this difficult time.
Tip 1: Create a monthly budget! Prepare a list of your expenses against the amount of money you have coming in. Take a look at what expenses are a "need" and what expenses are a "want". Set a specific dollar amount for each expense such as groceries or entertainment and stick to that specified amount.
Tip 2: Turn down your thermostat! During the cold months keep your home a few degrees cooler than normal and wrap up in a robe or your favorite blank with a cup of coffee. By adjusting your thermostat just a few degrees you will save money on your heating bill.
Tip 3: Shop around for the best deal on automobile insurance! Many insurance companies offer discounted rates if you purchase multiple policies through their company. For example someone who has an automobile policy and a homeowner's insurance policy would be given a cheaper rate than someone who had just an automobile only.
Tip 4: Dine in! Eating out is expensive and a lot of the times we don't realize just how much we spend eating out until we stop and add it all up. At the beginning of the month, plan your menu for the entire month and shop accordingly. Cook dinner with your family and make it a fun night in the kitchen!
Tip 5: Take advantage of office perks! Most offices have a coffee maker and/or water cooler. Skip your Starbucks run in the morning and opt to have FREE coffee at work or if you're not a coffee drinker purchase a reusable water bottle and refill at the water cooler versus purchasing bottled water.
Tip 6: Clip coupons! Coupons can be found in your Sunday newspaper, at the grocery store and even online. Start a coupon organizer and compile coupons for the items that your family uses. Pair those coupons with store sales to maximize your savings. Many grocery stores double manufacturer coupons and occasionally triple them. Take advantage of these store promotions to reduce your grocery bill and put more money in your pocket. Click here to print coupons from your computer!