7 Money Saving Tips

The good financial times are gone and we all need to tighten our belts and save more money. Even if our economy begins to stabilize, it is important that we begin to build on our savings for the uncertain future. We have seven creative ways that you and your family can use to save more money:

1. Save Money By Creating a Budget
You would think this is a logical step for most people and you would be right. Unfortunately, most people do not do it. Seeing in black and white what you have exactly going in and coming out can be a wake up call. Most financial experts will tell you that this is by far the most important first step to take in controlling your finances.

2. Include the Unexpected in Your Budget to Save Money
While building that budget, make sure you include those unforeseen expenditures. Things like car maintenance, vacations, medical, kid’s activities, and such can destroy your bank accounts along with your budget. Make sure you include for them.

3. Save Money by Counting to Five
Remember when we would impose the five-second rule when you dropped food on the floor? Take that same advice and take a breath, count to five, and then decide if making that purchase is necessary. Impulse buying is the biggest culprit to anyone’s budget.

4. Save More Money by Disconnecting the Phone Wire
Unless you are still in the Stone Age, you do not need a wired phone. Nobody is using it anymore, unless you are a telemarketer disturbing someone’s dinner. Save yourself about $50 a month and disconnect it.

5. Learn to Save Money on Your Cable Bill
Remember back when you first signed up for cable they offered you tons of channels for a great “introductory rate.” By now, that introduction has gotten old and your cable bill has taken itself to new heights. Seriously look at what you are paying for and reduce that cable bill. No one and I mean no one needs 24 hours of “Animal Planet.”

6. Save Money by Removing Temptation From Your Sight
We all have been shopping online and many of those online retailers give you the opportunity to store your credit card number with them, just to make it convenient for you. That can be a major security problem so remove them if you have done it. Make sure you have to input those credit card numbers each time you buy something online. Chances are if you need to input it, you will not buy it. It also stops you from buying something on an impulse. See “Count to Five” above.

7. Get Your Family Involved in Saving More Money
The last time you went out for dinner and a movie with your spouse, it probably cost close to a $100 maybe $150 with the babysitter thrown in. Now, a family game like Monopoly and take out pizza will probably set up back about $25. Not only do you get to save some money, you get some great bonding time with the family.