Cut Your Expenses
Rich Duncan | Lakeshore News
August 17, 2011 - Everyone is looking for ways to save money, whether it is to make our lives easier by cutting down our bills or simply looking for the best deal available to have more money in our pockets. There are numerous ways to find bargains and lessen the financial burdens of every day life, and these tips will at least help you get started in lowering your expenses and helping you save a little money.
Getting organized: This may not lower your expenses, but getting organized is an essential first step in managing your finances. One option, if you do your banking online, is to ask your bank about bill pay services. This allows you to pay your bills online from your account and cuts down on the amount of time you spend writing checks and sending out payments. This option often lets you know when your payments will arrive, view past payments and it also allows you to see all the bills you have to pay in an organized fashion. If you do not have bill pay, pay your bills as soon as possible and keep all of your records in one place and organize them. This will cut down on the time you spend paying bills every month.
Cut your electric bill: I mentioned ways to lower your electric bill costs in a previous column, but there are even more easy ways to cut down your electric bill, even if it is only a little bit. The easiest solution that many people do not take advantage of is unplugging devices that aren’t in use. A great example of this is cell phone chargers. Sometimes it seems easier to leave little things like this plugged in, but in reality, leaving things like chargers plugged in still utilizes electricity. For things you do not use often, consider unplugging them to help lower your electric bill. Also, consider switching to energy efficient light bulbs. They may be a little more expensive in the short term, but they will help keep your costs down over the long term and often times can last a little longer than regular bulbs.
Think about Impulse Buys: While it is impossible to never buy anything for entertainment purposes, it may be important to stop and think if it can really fit in your budget. An easy way to do this is by thinking of the cost in terms of how long it took you to earn that money. Simply take the price of the item and divide it by your hourly wage (if you have an hourly wage) to see how many hours it took you to make that amount. This will help you determine if it is worth making the purchase.
Cut your cable and phone bill: If you have access to the internet, it may make sense to get rid of your cable package and watch shows online. Websites like Hulu and the T.V. channels’ website allow free streaming of episodes that make cable TV packages redundant. Also, if you have a cell phone, you may consider getting rid of your landline, which is a popular choice for many people now. This limits the amounts of bills you will pay.
Hopefully these tips help you keep costs down and save a little extra money!