Tag Archive for saving money

How Cutting Corners Can Cost You More Money

How Cutting Corners Can Cost You More Money

How Cutting Corners Can Cost You More MoneyBetween your everyday expenses, savings and even some items you want, the cost of living is anything but cheap. You can often times feel as though you stretching your paycheck even at the best of times.

Hence, when you have additional costs and expenses added to your monthly list, the idea of spending more can sometimes make you cringe. In turn, you might look for ways to save money.

You might do-it-yourself, purchase used, or find other creative ways to save a buck. Although that might be ok in some circumstances, there are simply times when you should pay full price.

Here are four times you shouldn?t try cutting corners and how it could cost you if you do.

1. Opting for the Convenience

Fast food and processed food is popular for its convenience. After all, after a long day, cooking is sometimes the last thing you want to do.

That being said, while processed food might seem inexpensive and easy, those one-time meal costs will rack up far quicker than if you?d purchased fresh items and cooked for yourself.

Moreover, opting for the healthier choice will be better for your health in the long-run and will in turn, save you money on medical costs as well.

2. Skimping on Electronics

Electronics come at a high price, often to the point that purchasing one seems almost out of reach. Nonetheless, opting for the cheapest option available will save you in the short-term but will cost you in the end.

Unfortunately, the cheapest options usually aren?t the best quality, which means they won?t last long. That being the case, you?ll end up turning around and spending even more for a replacement.

3. Forgoing Routine Maintenance

It might feel like your car or home?s constant maintenance is expensive and unnecessary, however, it?s a cost you shouldn?t cut corners on. By spending a little every so often now, you?ll keep yourself from spending a hefty amount later.

Those routine maintenance calls and checks keep your home and car running and provide you with an opportunity to catch a small problem now, before it becomes a costly major problem later.

4. DIYing It When You Really Shouldn?t

Doing projects yourself always seems like the inexpensive option, but that?s not always the case. When it comes to certain home repairs or projects, unless you?re an expert yourself, doing something on your own could cost you more.

Electric, plumbing, and other major projects could cost you more on your own from lack of knowledge or a potential error, than if you?d merely hired it done. That being said, unless you know exactly what you?re doing, save and hire a professional.

Cut corners where you can, but in doing so, ensure you?re not cutting corners on the important things. While it?s almost first instinct to want to save when you can, there are simply times when spending a little extra will benefit you in the end.


What are some ways you can cut corners and save money? Have you ever regretted cutting corners?


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5 Cost Cutting Tactics That Save You Money All Year

5 Cost Cutting Tactics That Save You Money All Year

5 Cost Cutting Tactics That Save You Money All YearIt is hard to earn enough money to make up for bad spending habits. Even if you have a great job with a comfortable salary, it?s still going to be tough to make ends meet if you are wasting money on pointless purchases.

With that in mind, finding ways to cut costs is always a valuable topic to discuss. In this article, we are going to highlight five cost cutting tactics that may be able to help you save money all year long.

Review Your Cable Bill

This is a big topic of conversation these days, as many people have been ?cutting the cord? with great results. There are many other entertainment options outside of cable, such as streaming subscription services.

Since the cable bill is something that keeps coming in month after month, cutting back ? or eliminating it altogether ? has the potential to save you significant amounts of money.

Quit the Gym

On this point, you need to think specifically about your personal habits. If you have a gym membership currently, do you use it? If you do, it is probably a wise investment, as it can help you maintain a level of physical fitness.

However, many people don?t use their gym memberships, and the money goes wasted. Again, this is another monthly charge that will just keep coming all year long.

Try keeping track of how many trips you make to the gym in an average month to decide whether or not you should keep this membership.

One Meal a Month

No ? we don?t mean you should eat only one meal a month. Rather, we mean that you should switch one monthly meal from a dining out experience to a stay-at-home dinner.

For a family of four, it is easy to spend around $75 when going out for dinner, if not more. You can probably make a nice dinner at home for around $25. So, if you make this swap just once per month, that?s $50 a month ? or $600 a year in savings.

Pay No Late Fees

Sometimes, it is the small leaks in your budget that wind up sinking the ship. One of the leaks you may not notice is the paying of late fees on bills that slipped through the cracks. By paying everything on time, month after month, you can avoid paying fees.

Since fees don?t get you anything in return, they truly are nothing more than a waste. The key to avoiding fees is staying organized, so you don?t miss paying a bill that you simply forgot to take care of in time.

If you do miss paying a bill, call the company and ask about having the fee waived ? this is often a lot easier than you might expect.

Be Energy Efficient

The amount of money you spend on utilities is going to vary throughout the year. Depending on where you live, you may spend more money during the winter on heating costs ? or you may spend a significant amount on energy during the summer as a result of running the air conditioner.

By improving your habits to become more energy efficient ? simple things like keeping doors and windows closed (or open, depending on the situation) can go a long way toward savings.

Cost cutting doesn’t have to be drastic to add up to significant savings over the course of the year. Just find one or two ways to start saving.


Have you used any of these cost cutting ideas? How do you save money every month?


Photo courtesy of: JESHOOTS

4 Ways to Make Saving Money Easy

4 Ways to Make Saving Money Easy

4 Ways to Make Saving Money Easy?Saving for a rainy day? is a phrase you?ll often hear when people refer?to the importance of saving money.

Though saving for a rainy day sounds easy, saving money can be a challenge.

With high consumer and student loan debt plaguing many in the United States, saving those extra cents becomes an all too rare event.

But, the truth is, saving money doesn?t have to be dramatic or difficult. It can even become automatic.

Here are a few ways to make saving money?easy, or at least easier than you think.

Set up an Automatic Transfer to Savings

Pay yourself first and you?ll thank yourself later. By setting up an automatic transfer you won?t notice that the money’s not there. Create your budget based off the amount of money you have after the automatic savings transfer.

The same goes for your retirement?contributions. Set those up automatically so you even see the money coming into, or coming out of, your account.

Move Your Savings Account to a Different Bank

Having two banks may seem a tad complicated, but it does help if you find yourself often tempted to dip into your savings.

With your savings account being held?at another bank it makes it harder for you to float by moving savings to checking and spending it.

You can still set up an automatic deposit to savings and not mess with physically going to two separate banks to make deposits. You may also be able to switch to a bank with a higher interest rate on savings, like Discover Bank, or at least move away from a bank that charges high fees.

Start a Retirement Savings Account

The numbers are staggering for how many Americans don?t have a savings account, let alone savings for retirement. If you are self-employed, a Roth IRA is a good option for a retirement account. Setting up an automatic deposit to your retirement account makes it easy to save for the future.

Set up a Savings Transfer on all Purchases

Does your bank offer an automatic savings program that puts your “spare change” into your savings account? Mine does! It means every time I swipe my debit card, the change is put into my saving account.

For example, if I spend $3.01 on coffee, $0.99 is automatically put into my savings account.

It?s like putting your spare change in a jar. It’s only a few cents here and there. But, over time, that amount adds up.

Cash Back Rewards on Credit Cards

Now don?t get it into your mind that a credit card can solve your money problems. Cash back rewards only work if you don?t carry a balance on your card and pay your bill in full every month.

But, if you use cash back credit cards responsibly, they can be a good way to save money. Instead of putting your rewards toward your monthly bill, have it transferred directly into your saving account.

Saving your money is easy, especially with the ease of online banking and automation. Whether you are saving a little, or a lot, it all adds up over time.

You don’t have to start big. Set small goals and work your up from there.?You can make saving money easy and hassle free with these tips.


What easy methods do you use to save money? How do you make saving money easy?


Photo courtesy of: Ramberto Cumagun

5 Ways New Parents Can Save Money

5 Ways New Parents Can Save Money

5 Ways New Parents Can Save MoneyThe excitement of having a child is unlike anything else that you will experience in your life. Of course, there is a practical side to that excitement. There’s the concern about how you are going to pay for everything that your new child needs.

It doesn?t take long after you get home from the hospital to realize just how many expenses are related to having your own children. If you are new parents?and would like to save money where possible ? check out the tips below.

Buy in Bulk

You are going to need a large quantity of certain items when you have young children ? things like diapers, wipes, and more. To save money on those purchases, do your best to buy in bulk where possible.

For instance, a box of diapers isn?t going to go bad anytime soon. So, you can buy a big box and save money in the process. New parents?won?t be able to buy in bulk for everything a child needs. But, this strategy can save you a significant amount of money.

Accept Hand-Me-Downs

Other parents will likely be lining up to give you items that they no longer need to use for their kids. Take them up on these offers. Yes, it is fun to buy new items for your own children ? and you can certainly purchase them some new items of their own ? but you can also fill in the gaps by taking hand-me-downs from other people.

Register for Rewards

Most of the children?s stores have rewards programs which offer you points for purchases that you make. New parents should sign up for these free programs and make sure to use your card each time you buy something. While those points might not seem significant at the time, they do make a difference over the long run when you are able to cash them in for free goods.

Watch Your Own Children

Paying for babysitting is one of the most-expensive things you can do as new parents. For instance, the cost of going out to dinner with your significant other can quickly double when you have to pay for a few hours of babysitting as well.

Do yourself a favor ? watch your own kids, and take them with you most of the time. You will have fun as a family, make good memories, and you will save money in the process.

Take Your Tax Breaks

There are tax breaks available for new parents in the form of deductions. New parents should make sure not to miss out on any of these advantages. If you aren?t sure how to make sure that you have done your taxes properly as a new parent, talk to a professional and have assistance with the filing process.

The money that you spend on tax preparation will be a wise investment. You will have peace of mind in knowing that you have taken all of the deductions you deserve under the tax rules.


Have you done any of these things to save? Can you think of other ways new parents can save money?


Photo courtesy of: InspiredImages

6 Savvy Ways to Save This Spring

6 Savvy Ways to Save This Spring

6 Savvy Ways to Save This SpringFor many people, it is relatively easy to stay on budget during the winter months. You might not be particularly active during the winter ? depending on where you live ? meaning you probably won?t be spending as much money.

However, the story changes during the spring, as the weather starts to improve and you begin to think about doing things outdoors once again. So how do you save money while enjoying everything that spring has to offer? Check out the following six savvy ways to save this spring.

Spend Money for Next Winter

Okay ? so this isn?t a tip that will technically save you money in the short term, but it can pay off nicely in the long run. When spring arrives, many brands and retailers will discount their winter gear in order to move it out. If you are willing to buy things you need, like winter coats and other garments, for instance, you could get great deals on your purchases. When next winter comes around, you will already be prepared and you won?t have to pay full price.

Make Money on Spring Cleaning

Many people like to go through a spring cleaning process, which is a great idea for clearing out your house after a long winter. Fortunately, this is a process that can make you some money, as you may want to sell some of your old things online. Using sites like eBay is an easy way to sell your unwanted items without much trouble.

Use Natural Heating

If the weather in your area is warm during the day in the spring, consider opening up your windows during the daylight hours to warm the inside of your house. This technique may help you avoid running the furnace at night, which will save you on heating costs. As spring turns into summer, you can alter this plan to having some windows open at night for natural air conditioning.

Take an Affordable Trip

Spring break is a great time to go on vacation ? but such a vacation can be a big drain on your budget. So, instead of breaking the bank by taking a long trip to a tropical destination, stay closer to home and save this spring?in the process. With a bit of creativity and flexibility, it is a good bet that you can have fun without flying thousands of miles away.

Free Entertainment

The improving weather that you find in the spring means you can head outdoors for free entertainment instead of having to stay inside while doing something like going to a movie theater. Local parks are great options for this kind of free activity time, as are hiking trails, bike paths, and more.

Stay Focused on Your Budget

Sometimes, all it takes to save money is simply remaining focused on your budget goals. It is easy to be distracted by the optimism and excitement of spring, but remember how important it is to remain committed to your budget over the long run.


Do you have trouble with overspending during spring? How do you plan to save this spring?


Photo courtesy of: andibreit