15 Tips for, “Cutting Back—Saving Money and Reducing Personal Spending”
I put together these 15 tips to help you save money and grow your personal savings.
- Create a budget and know your spending limits.
- Get a budget App for your smart phone. Your budget will be with you wherever you go.
- Research online for the best quality and the best price on all of your purchases.
- Check to see if there are rebates or promotional codes available and use them.
- Before you buy always ask, “Do I really need this purchase?”
- Know the difference between NEEDs and WANTs
- Needs are essential for living such as:
- Food
- Paying Bills
- Rent/Mortgage
- Utilities
- Car Payment
- Student Loans/Tuition
- Medical Care
- Wants: I can live without it…but I want it
- Needs are essential for living such as:
- Remember, material things do not make us happy.
- Shop within you closet, drawer and/or cabinet before you decide to buy something new.
- Make a shopping list before you shop, and stick to it:
- Grocery Shopping
- Drug Store Shopping
- Costco
- Home Depot
- Online Shopping
- Take a 30-Day Retreat from shopping.
- Only buy the essentials
- Take time to evaluate your past shopping habits
- Journal your experience—learn
- Do not throw away change! Get a change jar, and when it is full, take it to the grocery store or the bank; exchange it for cash.
- Make a list of 10 ways you can cut back or cut out non-essential wants like coffee on the go. Make your own.
- Condense all ½ and ¼ used bottles of cosmetics to create a full container
- Buy one and give one away. If your closet is bursting at the seams, when you purchase a new item of clothing give one away.
- Be grateful for everything you have and you will always have enough.