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More Money Saving Ideas and Tips

Use these extra tips to start saving money and get more out of your budget

Everywhere you turn today there are advertisements pulling you in every direction. Refinance and save money. Switch phone companies, credit cards, insurance companies, cable companies and save. Many of these techniques work and you should definitely look into them (see money saving tips), but to get more from your budget it will just take a bit of tweaking your spending habits and start to live a frugal lifestyle.

These money saving ideas are especially helpful when you are applying the debt snowball method to get out of debt. That 10% extra you need for the accelerator margin will be relatively easy.

First, take a good look at your expenses using the free household budget worksheet and then see where you can begin to trim off some unnecessary expenses. Next, use a budget form to map out your budget categories and amounts.

Here are some more ways you can save some cash:

Find a less expensive grocery store. Each grocery store has a reputation for their price levels. It's pretty much common knowledge where to go for for cheap groceries. Swallow your pride and save some serious cash by frequenting these stores. The quality level of the food is generally the same as in the "big supermarkets". I've found that Walmart SuperCenter groceries are pretty decent quality at a much lower price.
Stop eating out all the time. Eating out can chip away at your budget, so eat at home more often. Of course, if you eat out due to a lack of cooking skills, this may seem like a a great way to lose weight, too. However, there are some great pre-made meals available at your local grocery store that will not cost you as much as the restaurants around town.
Contain the entertainment. Take a look at some of your entertainment expenses. Do you always wait late night movies? Try seeing a late matinee. It will save you at least $2 each time you go. Want popcorn and a drink? Try getting the kids pack that will give you popcorn and a drink, and even a candy surprise, for almost half the price. I don't advocate this, but you can also bring some of your own snack into the theater. Did I just advocate that?
Go the extra mile for gas. There are a number of websites available like GasBuddy.com and GasPriceWatch.com that allow you to type in your address and find the cheapest gas in your area.
Use the 24-hour rule. Going to the mall can be a lot of fun, but it can also lead to budget-killing impulse purchases. Getting more out of your budget also means having patience in your spending. If you see a really great item in the window, do not buy it for at least 24 hours. Better yet, give yourself 48 hours. This time will allow you to really think about what you are buying and if you really need it.

I use this one quite a bit. I research and wait, research and wait. By the time I'm done, about half the time I realize it was more of an infatuation than a "need".
Learn the brilliance of generic products and store brands. Most generic products are exactly the same as their brand-name counterparts. If you compare ingredients and labels, you'll find that 99% of the time, they are exactly the same. Using generic shampoo, garbage bags, paper towels, and more can end up saving you big time at the checkout.
Enroll in a Keep the Change program, or start a change jar. Some banks are now offering programs (like this one) to use your debit purchases to create an electronic change jar. You can also create a real one at home. Fill up the jar and deposit it in the bank.
Scour the sales. Getting more from your budget also means getting more for your dollar. If you have to make a big purchase, take your time to research the best prices around. With smaller purchases, try to find the times when the things you need go on sale. Buy seasonal fruit and vegetables. Buy your staple t-shirts and tank tops at the end of the season to wear the next year. Look for oil change sales and coupons before you get your car serviced. Get the circular ads out of your Sunday paper and look for great deals on stuff you need.

Frugal living just means changing your perspective a bit. Do you have several debts where you are only paying a minimum payment? Using the debt snowball method can help you get rid of your credit card debt quickly and easily so that you have more money each month to save money.

Most importantly, creating a budget is the first step toward frugal living. Then, take a look at your spending to see how you can get more out of your budget. Make small adjustments in the things you do or spend money on to have big savings overall.

Mvelopes Personal is an online budgeting system that makes it easy to create an effective personal budget and track every aspect of your spending as it happens. It will help you always know exactly how much you have left to spend, instantly know the impact of every spending decision, effectively manage credit card spending, and quickly create an easy to use household budgeting plan. Click here to learn more

The Debt Snowball Method
Create an avalanche of debt relief and get rid of all your debt in about 8 years. Start the snowball going by adding 10% of your income to every payment.

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Budgeting can save your (financial) life!
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Look at the free household budget worksheet
This worksheet will help you analyze your spending and how much money you should allocate to each category. It's free!

Free sample household budget forms and templates
I've included here the one that my wife and I created and use on a daily basis. Its a simple Microsoft Excel document, but it's effective and flexible. Feel free to use it and modify it to your needs.

Basic Budgeting - 5 Tips to Get You Started
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Learn the Benefits of Effective Recordkeeping
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The Importance of Teaching Children to Save Money
By educating children about the value of a dollar and the importance of saving money, you will be giving them a solid platform on which to build their financial future.

Tips on Making a Family Budget Work
Practical tips on keeping a family budget realistic.

The Basics of Saving Money
Get into the habit of saving money NOW. A little saving now will prevent a lot of headaches in the future, so master the basics and get the advantage now.

The Power of Compounding Interest
Learn how to use this powerful force to your advantage and don't let it ruin your life. You'll be amazed at how simple interest can make you wealthy over time.

More Money Saving Ideas and Tips
Making those small adjustments in your life can mean getting more out of your budget each month.

Debt Free Benefits - 5 Great Reasons to Get Out of Debt Now!
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Quicken or Microsoft Money Can Help Keep Your Finances Organized
These easy to use tools can really help keep your checkbook in order and give you an accurate picture of you finances.

Avoid the Monthly Payment Ripoff
Be aware of the total cost of the loan before you sign on the dotted line. Paying cash instead can save you thousands.

The Scoop on Student Loan Refinancing
Student loan refinancing can save you a bundle of money and help to improve your cash flow and your credit.

Student Loan Consolidation - What You Should Know
Making the move to consolidate your student loan debt can reduce your payments and free up cash.

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Sample Household Budget Form

Household Budget Tips

Personal Money Management Basics

Did You Know...

49% of adults, and 66% of US high school students got F's on a national test on their knowledge of basic economic principles.

Food for Thought...

"I'd rather go to bed without supper than rise in debt."
-Ben Franklin.