Four Easy Ways to Save Money – Right Now

Thanks photosteve101 @flickr http://www.flickr.com/photos/42931449@N07/5299199423/ The following is a guest post.

To be a guru with your money, you have to know how to save it.  With the wealth of ways to do this, we’re going to look at some easy yet powerful ways to save. 

1.      Compare What You Are Paying for Insurance

They’re not just annoying commercials.  Insurance offers a powerful way to save money, and  it’s not that difficult.

While we can’t condense everything into this small space, there are a few tips to get you on your way.  Compare insurance policies to see if you’re getting a competitive price.  You can certainly talk to companies to see what a similar policy would be in premiums.  Also, look towards bundling (i.e. home, car, and life insurance with one company) to save.  Don’t be afraid to talk to a professional for help.  [Mrs. Accountability: We do this and in 2010 we saved over $300 in auto insurance for a six month period!]

2.      Stop Eating Out

Restaurants can add up very quickly.  Reducing or eliminating such costs can have a profound effect on your budget.

Making the switch to eating in from eating out – even if only a few times a month – can instantly add a few digits to your budget.  Take a look at yours to see how much you are spending in this area.  It is no wonder that eating out is one of two (the other follows, naturally) most recognizable ways to cut your spending.

3.      Watch Entertainment Expenses

Once every few months you might go to a concert.  Possibly a sports game might be a fun idea as well.  The expensive movie theaters could turn out to be a bad habit.

This list can go on for some time.  However, if you’ve been noticing that the movie/music costs, along with others, have been increasing lately, then that could be an obvious choice.  Improving in this area can allow you to meet savings goals, invest in a retirement plan, and other items that will pay off in the long term.

4.      Commitment and Discipline

Just about anything in your budget can be cured by these two elements – commitment and discipline.  It is the framework by which you improve your budget.

This is especially the case when it comes to spending.  In other words, the items that you purchase that aren’t necessarily needs in your household.  For instance, renting a movie instead of the movie theater, staying in for dinner instead of going out, and heading to the library instead of the bookstore can help you realize the frugal lifestyle.

The best way to apply these elements to your finances is with your budget.  Perhaps you can afford to splurge a little bit in certain areas.  However, with commitment and discipline, approach the quantitative limits of these areas.  Then you can allow yourself to stay focused on your goals, meet your needs, and spend a little bit as your budget allows.

With a few steps, you can start saving money right now on your budget.  From these examples and many more, start applying money-saving tips to your household budget – it can make a drastic impact.

 

 

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