Josh Elledge - Chief Executive Angel
When you don't use coupons, you spend more. When you don't save money, you have no reserves. When you don't plan, life hits you. Life is busy. That doesn't change. Money is tight. We hope that changes, but it is what it is right now. One thing you can change: habits.
Here are some good habits to develop ““ and save:
(1) Keep a piece of paper on the fridge to jot things down, before you run out of them. This tool will remind you to watch for a good sale, and not pay retail out of desperation.
(2) Create and use a shopping list (the paper mentioned in Tip #1 can help here too). Shopping aimlessly is expensive. You end up buying things you don't really need ““ or worse, already have and forgot you did.
(3) Utilize a 2-pocket folder (the kind with prongs inside) to keep restaurant and non-grocery coupons in your vehicle. Inserting clear paper protectors in the folder offers several more “pockets” to hold multiple coupons. Now you have these coupons with you whenever you're out.
(4) Even if money is so tight it squeaks, set up auto-withdrawal or direct deposit to a savings account. Amounts as small as $5 a week will still add up over time. Automatic methods force it to happen, so you have resources in an emergency.
(5) If you have children, now is the time to plan their clothing for next school year. Thin out their current wardrobe and sell the good condition ones. (Think planning a spring yard sale, selling on consignment or online yard sales.) Recycle that money into clothes in the next size they'll need. Have a fashion-focused young one? Use the money to buy things that are classic, always usable, and always in style. And hit specialized consignment shops that feature the brands your teen wants.
(6) Think about dinner right after breakfast. Knowing what you'll serve early in the day affords time to prepare ““ and avoids eating out or ordering pizza because it's 6:00 p.m., everyone is starving, and nothing is started.
(7) Don't make quick decisions on purchases. Any purchase you do not make on a regular basis should be carefully evaluated, regardless of price. Think over whether or not you really need the item; whether you can truly afford it; and, if yes to the first two, then still research prices to insure you're getting the absolute best deal.
(8) Review your monthly expenses at least once a quarter. You should be thinking about them each time you pay a bill, but this goes deeper. Analyze each to decide if you still need it and if you can't save more with another company.
(9) One week out of every month, execute a pantry challenge. A pantry challenge actually involves your pantry, cupboards, fridge and freezer. Once a month, take a full week and devote it to using any close-dated items in these storage areas. Plan meals with these items, buying only ingredients absolutely necessary to complete the meals. Your family can be adventurous in trying new recipes to incorporate items, having breakfast at dinner or dinner at breakfast, choosing an eclectic approach to what makes a complete meal ““ and, best of all, your shopping list will be tiny that week.
If you can't do it all, at least, do some. Doing just a few of these things, will eventually add up to big savings!
