If you want to save more money, where do you start? What’s’ the first step? If you’re surprised by the answer, you’re not alone. Most people are. Brought to you by FinancialFreedomTool.com. Plenty of money…for life!
Today’s show is a continuation of this topic. If you want to save more money, where do you start? What is the first step? We discuss this on our show today. Most people are surprised by the answer…
https://biggsuccess.com/wp-content/uploads/2019/04/The-First-Step-to-Save-More-Money-blog-post-image.png430448George Krueger & Mary-Lynn Fosterhttps://biggsuccess.com/wp-content/uploads/2015/07/BIGG-Success-Nurturing-Your-Inner-Entreprener.jpgGeorge Krueger & Mary-Lynn Foster2019-04-30 13:34:352019-04-30 13:34:35The First Step to Save More Money
We want to share a tip on how to save money at the store with you today. As we share it, we’re sipping on coffee. It’s because we saw an interesting study about coffee cups. Yes, we can learn an important lesson from coffee cups.
We talked about this on The BIGG Success Show today ( click the player to listen)
Participants were handed a coffee cup. They were told it sold at a local retail store for $4.95. Read more
https://biggsuccess.com/wp-content/uploads/2017/03/save-money-at-the-store-bigg-success-blog-podcast-image.png435650George Krueger & Mary-Lynn Fosterhttps://biggsuccess.com/wp-content/uploads/2015/07/BIGG-Success-Nurturing-Your-Inner-Entreprener.jpgGeorge Krueger & Mary-Lynn Foster2017-03-30 14:14:482017-03-30 14:14:48A Tip to Save Money at the Store
You might think that our title has something to do with the recent behavior of Wall Street and Washington. It probably could, but in this case, it doesn’t.
It does refer to seasons. We’re in the Midwestern United States. We’re heading into fall which, of course, means winter is just around the corner. Squirrels are busy hoarding up nuts so they will have the food they need to sustain them through the winter months.
Hot and cold, boom and bust
Like the seasons, our economy moves through times when things are hot and times when they’re cold. We experience booms and busts.
It’s interesting, though, that our friends in the southern hemisphere are just heading into spring. Things are heating up there while they’re cooling down here! It reminds us that most businesses do best during the boom times, but some actually prosper when times are tough.
Almost every business has products or services that will do better when the economy isn’t doing as well. With your offerings, which ones will save your clients money? Those are the items you should promote now as consumers seek to stretch their budget.
Your cash stash
Speaking of stretching our budgets, just like squirrels hoarding nuts for winter, we should all make sure we have an emergency cash reserve. Financial planners recommend keeping between three to six months of living costs stashed safely away for ready access.
In recent times, some have suggested a Home Equity Line-of-Credit could be substituted for this cash reserve. Only you can decide if that’s the right option for you; however, with what’s going on with banks and the credit markets, it may pay not be your best option for your crucial cash stash.
If you own a business, you should also look at your working capital. Is it adequate to take you through a slow season? If not, look for ways to cut your costs so you can shore up your cash hoard.
Purchasing out of season
The seasons also create opportunities for us when we’re purchasing. For example, if you live where we live, you’ll probably get a better deal right now on a lawn mower than a snow blower. Timing your purchase when demand is down on these bigg ticket items can save you money.
Tougher times also create opportunities for us as consumers. Businesses still have bills to pay. They want to keep the doors open. So they may cut deals now that they would never consider in good times.
Purchasing in season
With other items, you’re better off buying in season. Retailers will often lure you to their stores by drastically discounting these items. For example, isn’t turkey cheaper right before Thanksgiving than any other time?
Time Money has a great article about the best time to buy everything. Planning when to buy is just as important as what you buy. Buying on impulse less often will save you BIGG money more often!
You can find a lot of articles on the web that give you the steps to stop living from paycheck to paycheck. We thought we’d change it up a bit and offer some specific moves you can take to have money left from your last paycheck when your next paycheck arrives.
So here we go:
1. Pack a lunch. Stop eating out.
2. Take public transportation.
3. Carpool.
4. Buy a digital programmable thermostat. Set it to a higher (summer) or lower (winter) temperature when you’re away.
5. Get a second job.
6. Start a side business.
7. Sell stuff you don’t need anymore. e-bay comes to mind.
8. Have a garage sale. If you don’t have a garage, have a yard sale.
9. Get out of debt. Interest is better earned than paid.
10. Turn your thermostat up (summer) or down (winter).
11. Accelerate slowly when you drive. Brake deliberately when stopping.
12. Turn off the light when you walk out of a room.
13. Replace all your light bulbs with energy-efficient compact fluorescent bulbs.
14. Trade in your gas guzzler for a fuel-efficient car.
15. Don’t buy anything that you can’t pay for with cash.
16. Use coupons.
17. Shop sales.
18. Buy your clothes at a consignment shop.
19. Pay your bills online.
20. Have your paycheck direct deposited.
21. Make sure your home is properly insulated.
22. Replace your windows with highly energy-efficient ones.
23. Replace inefficient appliances.
24. Insulate your water heater, if you have an older model.
25. Check your plumbing for leaks.
26. Turn off the TV. Reading is cheaper.
27. Buy used, rather than new.
28. Go to bars that offer free happy hour food. It’s dinner for the price of a drink.
29. Cut back on your retirement plan contributions. Beware! This should only be a short-term strategy.
30. Turn off your air conditioner and open the windows.
31. Never go shopping anywhere without a list. Resist the temptation to buy anything that’s not on your list.
32. Buy generic or off-brands rather than name brands.
33. Put yourself on an allowance for discretionary purchases. When you’re out of cash, you’re done spending.
34. Get organized. A lot of people pay late fees because the bill gets lost in a mess.
35. Sell your house and buy a smaller one.
36. Shop for insurance.
37. Raise the deductibles on your insurance.
38. Cook more at home. Eat out less and buy less pre-prepared food.
39. Pull the plug on your appliances and electronic items when you’re not using them. Many of them continue using power even when turned off.
39. Service your furnace and air conditioner every year.
40. Wash your clothes in cold water.
41. Weatherstrip your doors.
42. Get a low-flow shower head.
43. Only run the dishwasher when it’s full.
44. Install faucet aerators to use less water.
45. Consolidate your automobile and homeowner’s / renter’s insurance with one carrier. They’ll usually give you a discount for doing so.
46. Shop online for gas. Prices can vary quite a bit in just a few blocks. GasBuddy.com
47. Get a gas credit card that gives you a rebate on purchases. (e.g. Discover Open Road card.)
48. Get a library card. Don’t buy books, just check them out. Same with DVDs!
49. Time when you go to the movie or theater. Go to a matinee or a day of the week when they offer discounts.
50. Trade off babysitting with your friends, instead of each paying a babysitter.
51. Trade houses when you go on vacation.
52. House sit for your next vacation. It beats paying for lodging!
53. Know the discounts offered for members of clubs or associations to which you belong. For example, your university alumni associations, AAA, etc.
54. Enjoy nature.
55. Go to the park for recreation.
56. Travel in the off-season.
57. Be flexible on your destination so you can buy at the last minute.
58. Stay close to home for your next vacation.
59. Bundle airfare and hotel.
60. Drive your car without air conditioning.
61. Have your car serviced regularly. Deferring maintenance is expensive.
62. Pay your bills on time.
63. Shop for the best interest rate for your savings.
What works for you? Share your tactics for saving money by leaving a Comment.
https://biggsuccess.com/wp-content/uploads/2020/07/bigg-success_stacked-1080.png10801080George Krueger & Mary-Lynn Fosterhttps://biggsuccess.com/wp-content/uploads/2015/07/BIGG-Success-Nurturing-Your-Inner-Entreprener.jpgGeorge Krueger & Mary-Lynn Foster2008-06-05 10:21:392021-01-23 23:43:0663 Moves to Stop Living from Paycheck to Paycheck
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
You might think that our title has something to do with the recent behavior of Wall Street and Washington. It probably could, but in this case, it doesn’t.