There are few things in life that serve as a bigger stressor than money. So in an effort to lessen some of your financial anxiety, we’re sharing some tips we hope will save you some green and afford you a better night’s sleep.
Know Your Limits.
Do you know how much of your paycheck should be allotted to your rent or mortgage? Utilities? Here’s a percentage breakdown of what you should spend where:
25 to 35% – Housing
10 to 15% – Transportation & Gifts
5 to 15% – Utilities, Savings, Food, Medical, Personal, Recreation & Debts
2 to 7 % – Clothing
Be a Smart Shopper.
Does the grocery store always get you? Shop when you’re not hungry and when you’re armed with a plan. Heed these suggestions:
Visit at night. Many stores mark down items in the evenings, so you’re more likely to score deals in the PM hours.
Stock up! Happen upon a great deal for something you love and make often? Buy more than one and store the others for a later date. Trust us, you’ll thank yourself later.
Shop the day-old racks. This will save you money on baked goods like breads, fruits and vegetables, and even meats in some stores. Meats are more inexpensive the closer they are to their expiration date. Get one you plan to cook up in the next day or two or freeze it to be used later.
Ditch name brands where possible. Sometimes the name brand does taste better, but oftentimes, that’s not the case. Give the generic a try. You might be surprised, and you might save money.
See if the store price-matches. This doesn’t just apply to grocery stores. Department stores like Walmart also want to earn your business and will offer this. Know who offers what and at what price and use it to your advantage.
Shrink your Utility Bills.
Water bill running high? Electric bill skyrocketing? Try this:
Turn your water off. It doesn’t need to run while you’re washing dishes, washing your hands or brushing your teeth. If you water your lawn or plants in the summer, invest in a timer or set your phone so you remember to turn the water off in a timely manner.
Unplug. Not using an electric device? Unplug it. Just plugging something in draws on your electric use. In the summer, limit the amount you use your oven. Take advantage of the crockpot and outdoor grill, and you’ll save the electricity you use for the oven, and the electricity used to run your AC to keep your home cool.
Call and ask. Looking for a better rate on your cable or electric bill? Sometimes it really does pay to call and ask. Nicely, of course.
Odds and Ends
There are a bunch of little things you can do here and there to save some spare change. Throw that change into a jar and you’ll be amazed at how quickly it adds up. For example:
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- Pay bills online instead of mailing them. You save 49 cents for each one.
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- Wash your laundry in cold water whenever possible.
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- Find free entertainment. Hiking trails and attending free community events are fun, too!
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- Visit the library. Why buy a book when you can borrow it? And don’t forget – many have films to borrow on DVD too. Not to mention CDs for music lovers.
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- Visit yard sales in the summer to find necessary items at a discounted price. Or if you’re overloaded with “stuff,” hold a yard sale of your own.
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- Consider second-hand stores when buying clothing for rapidly-growing children.
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- Swap babysitting services. Can’t afford the expense of a sitter but want to enjoy a date night with your spouse? Hit up another couple in the same situation and offer to do the same for them in the future.
Jump Start your Savings Account
Is the thought of starting a savings account overwhelming? Check out this new way to save, and give it a try if it suits you for 2015. It’s not that far away, really.
For every week of the new year, put an equivalent amount of money in your savings account. For example, $1 on week one, $2 on week two, and $52 on week 52. If you’d prefer to put more away in January than in December during the holidays, just flip the plan. Do $52 on week one and count down through the year. In the end, you’ll put away $1,378.
Awesome Money-Saving Apps
Nearly everyone has a smartphone – and a cellphone bill – nowadays. Make your phone work for you in saving some money by downloading these apps.
Cartwheel from Target.
The app allows you to select discounts on items you plan on putting in your shopping cart. Just show the cashier the savings barcode on your phone at checkout and – voilá – savings!
Gas Buddy.
Want to find the most affordable fuel in the area where you need to fill up? Download this guy and he’ll tell you where to go.
Shopcick.
Kick traditional store reward programs to the curb after you download this app. Shopkick allows you to rack up rewards called “kicks” by shopping at popular stores like Macy’s, Best Buy, Old Navy, Toys R Us and more, which you can redeem later for gift cards.
Red Laser.
This app helps you find the best prices, coupons and deals for all your favorite products and stores, online and locally. All you need to do is scan the barcode while you’re shopping and search away.
Save by Shopping Online
It is possible to shop from home and get a better deal now and again. If you need to stock up on something, make use of free shipping on minimum order deals and also do some research for promo codes you can use for an additional discount. Retailmenot.com is a good place to start.
Discount sites like Groupon, Living Social and Brad's Deals also offer great deals on items all the time. Keep tabs on them for when something you need shows up. Just be sure not to spend frivolously just because something’s on sale.
Google shopping can also come in handy when you want to research the best price for a product, showing you what a variety of stores are charging for an item.
