Money-Saving Ideas that Work for YOU!

It’s true that small savings can add up, especially when applied on a consistent basis.  A list of spending strategies follows that you can apply almost every time you shop.  And these savings can be invested to help you realize your financial objectives.

• Remember that you haven’t actually saved anything until it makes its way into a savings or investment account.  Otherwise, you just haven’t actually spent it yet!

• Check your cars tire pressure on a weekly basis.  Keeping your tires properly inflated can add up to 10% to your MPG.

• Watch the coupons you use.  On average you will spend more on items you may not have needed anyway.  Only clip coupons for things you actually buy on a regular basis.

• Use the library for free movies.  Typically they will have a good selection and many newer releases.  Check what’s available online and then reserve the copy of the latest blockbusters.

• Try vacationing where you live.  Make a vacation out of going to the local museums, trying a new restaurant or other attraction.  Check into a hotel with a pool so the kids have a chance to swim when it’s hot outside.  Spend the gas money you would have spent to drive somewhere on something local.

• When you have movie night go to the local dollar theatre instead of the high priced theatres.

• Have a game night at your house instead of going out on the town.  Invite your friends and ask them to bring something to share.   Break out a fun group game (or ask if your friends have one).   Time spent with friends in the casual atmosphere of your home helps build lifelong friendships.

• Buy groceries on sale and schedule your menus around the grocery ads.  Typically specials rotate on four to six week period.  Many things can be frozen, so stock up for a few weeks.

• Milk expiration dates vary.   Pay attention to these dates and track which stores’ milk don’t make it to the expiration date (or make it past).

• For couples, have a money understanding.  What are the limits on amount to be spent without approval from your spouse?  This can help to limit buying big ticket items (and fights over spending).

• Online banking and bill paying can help you save money on postage.  Just make sure you have a secure network connection and to access your accounts and strong passwords.

• Don’t let your children dictate what you buy.  They will impulse buy what is well marketed, not necessarily what’s good for them and your budget.

• Buy off season.   Buy after a season ends or out of season for the best deals on things you know you will use later.

• Ask for a lower price.   Many times a retailer is looking to unload stock and will be open to selling for lower prices to avoid maintaining the inventory.

• Do you have a friend that hunts?  Perhaps they have some extra meat that they are looking to get rid of and you can use for stews and such.

• It’s all about your attitude towards spending.  Before you buy something, ask yourself if you really need it or if it’s just an impulse buy.  One of America’s greatest strengths is its ability to market and entice people to buy.   Taking 30 seconds to ask yourself the tough questions can save you a bundle!

Want to learn more about these and other ways to realize your financial objectives?  That’s exactly where Guidepost Financial Planning can help.  Please visit our website or give us a call at 970­­.419–.8212 so that we can discuss your financial goals in a no-charge, no-obligation initial meeting.