Financial
Keys

The #1 Secret to Savings is: Spend less than you make

A simple concept that is so difficult to follow.

Where is all of our money going? Where can we cut back? A detailed budget will help you determine that. In the meantime, here are a few ways that we nickle and dime or five and ten dollar ourselves into debt. Knowlege is power...now that you know, you can do something about it.

-The daily coffee (Does it really have to be gourmet? Do we even have to have it at all? Cut this from your diet and save $ and your health)
-The-special-treat-for-filling-up-your-gas-tank (Do you really have to give yourself a reward each time you go to the gas station? It is a convienience store that is attached and you pay dearly for convienience)(If your kids have come to expect a gas station treat it is your new job to untrain them...just think, now you can start saving for college)
-Eating Out (Sure it tastes good, is fun, and you don't have to make it yourself. But...major $$$ can be saved if you brown bag it. You can even afford to eat better quality food for less if you make it yourself - high five for loving your health)
-Making only minimum payments on credit cards (Keep doing this if you want to stay in debt forever. If you can't clear your monthly statement, pay the minimum PLUS...what ever you can afford. This is high interest debt we're talking about here. Take your daily double latte money and pay down that debt!)
-Mall shopping (Impluse shoppers beware! Do you really need to even go in there? Is this actually a NEED or do you just want something. If you are in debt, this is one place that is great to avoid?
-Have to buy new (Check out the buy and sell, second hand stores, community bulletins, classified adds, etc. before you buy new)
-Have to have it now (If it can wait...make it wait. Don't let that new purchase bully its way into your life. You are in control of when you buy, where you buy, and how much you'll spend. Think on it, sleep on it, do a little research...maybe tomorrow you won't want it. Put an end to comsumer's remorse.
-It's broke so I chucked it and bought a new one (Can it be fixed? Do you need to replace it?)
-TV (1 hr of tv a night = 30 hrs tv. a month...that's more than 1 whole day's worth of wasted time!!! 3 hrs tv a night = 90 hrs. tv. a month. I could have been: walking, reading, cooking, sleeping, playing with my kids, cleaning, fixing my house, building, creating, visiting....)(cut off cable/satellite and save more than just money...you can start living your life!)
-cell phone (Do you really need to be that accessible? Can you sell your plan to someone else? Can you change it in for a pre-paid plan and use it just for emergencies?)
-Long Distance Phone Bills (Block long distance capabilities - no sense in paying the monthly fee if you don't use it...by pre-paid phone cards)
-Pop/slush/juice (we know these are terrible for our teeth...how about drinking water?)
-Trendy clothes (go out of style...start replacing with timeless pieces)
-Driving Everywhere (Bike, walk, run, skate if you can. Save gas, save environment, save heart)(Carpool, take public transit)
-Lights on
-Long hot showers (They aren't even good for your skin. Make them short and cooler)
-Hot house (Turn down the thermostat a degree or two...you can always put on socks and a sweater)
-Drying Towels (A HUGE ENERGY SUCKER.Hang drying makes them crisp and fresh)
-High Rent/Mortgage (can you downsize?)
-Hair cutting salons (Check out beauty schools, find a friend that can cut, learn to cut your kids hair)
-Babysitting (Trade services with another parent/couple)
-Magazines and Books (Borrow from library)
-ATM fees (Another convenience you pay for -find another way to pay or don't make the purchase)

Take a close look at your monthly budget. Enlist the help of another to try to find areas where you can reduce your expenses. A fresh perspective can help you find ways to cut costs that you may have overlooked.

Check out our "Shopping Tips" and "Hints from the Banker" for more money saving ideas.

Saving Money At Home

Spend Smart, Save Smart

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