Every day, a new story is written about how housing prices are on the rise while wages haven’t budged in over a decade. People still want to buy homes, go on vacation, save for retirement, and leave money to their kids. So, how are you to keep extra funds stowed away for a rainy day if it is hard for you to make ends meet? Well, you could live on a diet of beans and rice or sew all your clothes by hand – or, you can just find more creative ways to stretch your disposable income. Here are some tips for keeping more money in savings.
Go Over Your Existing Budget
Assuming that you do have a budget, you should know how much you are spending on monthly expenses, down to the penny. Are you occasionally going to go over budget because of a one-time expense or emergency? Sure. Realize that the purpose of a budget is for you to more easily keep your finances on track. You can see where you have been spending money, then find ways to cut down. For instance, if you see that you are spending hundreds of dollars on gas every month, you might find that taking public transportation to work is quite a bit more affordable.
Don’t Shop Without Coupons
Almost anything that you buy for your home is going to be listed for sale somewhere. Everything from breakfast cereal, to makeup, to savings on home repair services, a discount can be found on most things imaginable. What you have to do is use online coupons like these to find, analyze, and then compare each online deal. One online retailer might offer a better price on a product, but a different online store could offer an additional incentive such as free expedited shopping. Online coupons can also be used in person, so just remember to get all your deals loaded before you hit checkout.
Share and Barter with Friends
Many years ago, humans wouldn’t have been able to survive if it were not for cooperative communal living communities. A tailor might have bartered his services to the nearby farmer to keep both of their families well fed, warm, and clothed. Nowadays, people are much more independent in the way that they live and think, and while they have a lot of freedom, they also pay for it. Consider sharing extras with a friend, bartering with your neighbors, and following more of a communal living mindset. You will stretch your disposable income if you share cooking responsibilities, go to potlucks, and trade clothes with your dearest friends.
Cut Out Whatever is Unnecessary
Far too many people today are buying what they want and then getting into debt when they need to pay for their necessities. Buying a cup of coffee each morning might make your day go a little smoother because of the convenience, but after you add up the cost, you will literally waste
thousands each year for a single hot beverage. Cable is another convenience that people don’t need, especially with there being a million ways to stream live television over the web. If you have a second car just sitting in your driveway, ask yourself why it is there. If you aren’t using it, you probably don’t need to have it taking up extra space. Get a budget and revamp it at least every few months to accurately track your spending. Use coupons wherever you can and you will be able to tighten up your purse strings a bit more. Instead of eating out, attend a potluck and bring a dish made out of ingredients you grew in your own garden. These are simply a handful of steps that can be taken to stretch your disposable income.
Have you any more suggestions?