Well, it's a new year and a new decade. Thanksgiving has come and gone. And so has Christmas. Hopefully, those of us who celebrate Christmas didn't "break the bank" and do too much damage this year with shopping.
I don't know about you, but one of my main goals for the new year is to tighten up on the budgeting and management of my finances.
Since the decline in the real estate market, and the economy as a whole, we have had to make some adjustments in the way we handle money and financial matters.
Here are some practical, yet proven ways to save money in 2011. Some of these are so simple but not executed on a daily, weekly, or shoot--even a monthly basis.
Turn off the water. When you brush your teeth in the morning, turn the water off in between brushing and rinsing. I must admit, I was a notorious "water runner" when tackling daily tasks that involve water. Also, turn off the water when doing other daily tasks like washing the car, doing the dishes, and the morning shave. You will see a difference in your monthly or quarterly water bill.
Keep your car serviced. A simple oil change goes a long way when it comes to saving money on repair costs. Not only does it prevent costly repairs, but it improves on the gas mileage that your car gets. The same thing goes for tire pressure. A tire low on air decreases the miles per gallon that a car performs at.
Pay cash. The old saying that "cash is king" is not just a saying, it is actually true! Many companies offer discounts to customers paying cash because of the cost of accepting credit card payments. Some credit card processing companies charge up to 5% to process credit card transactions, plus a monthly fee. Also, it is much easier to negotiate with cash. From everything from buying a house, to that "must have" handbag while on vacation, that cash money that "talks" can land you a deal.
Pay bills on time. The average late fee on a cell phone or utility bill is $5.00 every time you go past the due date. This may not seem like much, but with multiple bills spread out over the course of one year, you can nickel and dime yourself into the "poor house". Putting this money saving tip into practice can save you hundreds of dollars. Also, if you pay cash for purchases, you won't forget to pay credit card bills on time, which will cost you on average $29.00 per late fee.
Drink water. The romantic evening at a nice restaurant will be even better with a lower bill. The average cost of drink at a restaurant is about $2.30 per drink. Order you a nice dinner, and the water (with lemon) is free! You'll actually feel better about going out to eat because you are spending less money while still doing what you want to do.
Hit the switch. Turn off the lights in rooms that you are not sitting in or going to any time soon. I started doing this about two years ago and I must say I am happy with the results. Gas and electricity is something that we can't do without, but that doesn't mean that we have to waste it. Utility bills are an ongoing expense that you can lower with some minor adjustments.
Keep the change. When you go to the gas station for a pack of gum, put your change in your pocket instead of the change plate laying on the counter. Also, pick up pennies and any other coins that you find laying on the ground. Everybody is using plastic, but believe it or not, pennies still make dollars. Before I go to sleep at night, I empty my pockets and put all my change in a jar on my dresser. When the jar is full, I take it to the grocery store, put it in the counting machine, and it is usually enough money to go grocery shopping with.
Put these simple ways to save money into practice, and you will be well on your way to a better financial year in 2011!
