Keeping Your Budget in Check in an Expensive Economy

With gas prices rising, among other common living costs, everyone is looking for ways to save in the present economy.  See the tips below to help you with ways to save big as prices are increasing:

·         Gasbuddy.com is a great app that you can easily download to your Smartphone.  Simply type in your zip code and it will help you to locate the cheapest gas prices nearby in your local area.

·         Unplug all appliances even if you are not using them and the power is turned off.  It halts the flow of electricity; by unplugging it, you can decrease your electric bill.

·         Cut coupons when possible prior to each trip to the grocery store.   It could save you between 40-60% on your grocery bill.

·         Your local library offers inexpensive ways to check out DVD’s, CD’s or magazines to save on entertainment which may be cheaper than Netflix or purchasing them at music stores.

·         Packing your lunch is always less expensive than eating out on a daily basis.  Once in awhile, treat yourself to a favorite food at an inexpensive restaurant or café, but getting in the habit of packing your lunch is a great way to save money on an ongoing basis.

·         Wash your clothes in cold water; it only costs 4 cents per load as opposed to a whopping 68 cents per load for hot water.

·         Watch for sales at popular multipurpose stores like Target and Walmart and buy Christmas and birthday gifts ahead of time to avoid overspending during the holiday season.

·         You can save on medical expenses by choosing generic over brand name medication, when appropriate.  Consult with your doctor to make sure that generic versions of the medications you are taking are acceptable for the condition you are being treated for.

·         Look for projects that you can do yourself such as changing your own oil and doing your own home repairs.  If you look on google, you can research how to do any task yourself.

·         Evaluate how many channels you watch on cable.  Eliminate the ones that you don’t watch to see if you can get a cheaper package.  Also, look into other cable companies that may offer better deals than your current one, especially if you don’t watch a lot of TV to begin with.

·         Create meal plans and look for ways to maximize ingredients for more than one recipe.  For example, if a recipe calls for half of a certain kind of vegetable, plan another recipe where you can use the other half.  Take an inventory of how each meal costs so you can look at ways to continuously evaluate and improve your food budget.

      As you can see, there are many ways to to save money when times are tight; these strategies will hopefully help you to pay closer attention to your spending so that you are prepared in an uncertain economy.  For more information on this topic, visit this link.