5 Ways to Save, Even During Tough Times, + a Giveaway

Have you recently made a budget but found that there’s still not enough money at the end of the month? In these days of rising costs, if you’re tired of busting your budget over and over again, then it’s time to trim.

Here are some of the things you can hack away at to get spending under control and actually stay within your budget. It’s a great feeling when you do!

Buy Less Meat and Don’t Shop Hungry

Pound for pound, meat takes a big bite out of your food bill. Even replacing just one meal per week with something vegetarian can add up to big savings over the month. Here are some tips for cheap meatless meals:

• Make your chili with veggies only. Corn, butternut squash and rice add extra texture and heartiness. Use plenty of spices and you won’t miss the meat (as much).
• Buy seafood wisely because shrimp and fillets can cost more than meat. Tuna is the cheapest option.
• Take your favorite meals and make them meatless (pasta with marinara, burritos with beans and cheese, vegetarian curry, etc.)
• Have breakfast for dinner: waffles, cheese omelets, quiche, fruit, biscuits and gravy, etc.
• Grilled cheese sandwiches and tomato soup will always be a classic American meal. Add a side salad to make it extra nice.
• All jokes aside, any family on a budget needs to form a meaningful relationship with beans. I’ve been serving these in one form or another since my children were babies. Black beans, pintos, navy beans and refried beans are generally well-liked by children.

Also, take advantage of curbside pickup and online ordering. Buy only what you need and avoid walking through a store hungry and susceptible to impulse purchasing.

Switch to Cash for Your Spending Money

What about all that stuff you buy that’s too small to budget?

• Postage stamps
• A vanilla latte
• A bag of chips and a drink at the gas station
• A greeting card for your friend
• Lunch at Chick-fil-a
• A tube of mascara
• A few items you forgot to buy in your big grocery trip

If using a debit or credit card for these items, then you don’t really count the cost. It can add up to hundreds per month, and since we have ridiculously bad short term memories, we don’t feel like we’re spending that much. Yet the average Starbucks fan spends about $1,500 per year, and that’s based just on the $3 beverages. Some specialty coffees and smoothies cost $6 or more!

Switching to cash for your miscellaneous spending money keeps you mindful that money is finite, and helps you say NO when it’s running low. It’s good discipline not just for you, but also for your children. You can honestly tell them (and yourself), “We can’t get any treats today, I’m all out of cash!”

Tackle the Big Expenses

Take a good hard look at the biggest bill you have each month. It’s probably your house or your car. These options help lower or eliminated home and transportation expenses:

• Insurance: Lower your insurance rates across all categories by dedicating a little bit of time to compare rates. For example, cheap term life insurance can save you thousands of dollars over years and can even result in a bigger payout. With term life insurance, you only pay for what you need. Remember, life insurance is not an ideal investment plan! You can also score discounts by bundling plans together.
• Vehicles: Sell your non-essential car. This is the one that’s not used very often or has a payment that’s killing your monthly budget. You’ll pocket some cash and also save on insurance and taxes and maintenance.
• Mortgage: Deciding if a refinance (not the cash out option) is financially wise. It differes depending on your situation. Twice, my husband and I have looked into this option only to find it didn’t pay off financially. We stuck with our high 15-year mortgage and found other ways to cut corners.
• See if you can finally drop the monthly PMI insurance on your home. Is your mortgage balance down to 80% of the home’s original value?
• Get out from under a high monthly car payment by selling it and buying a reliable used car for less. I know nicer, new cars are so sweet, but the payments aren’t. Imagine if you had an extra $400-$500 bucks a month! Yes, that’s the average car payment in America.

 

Change Your TV or Phone Service

The average cell phone bill in America is over $100 per month. Start saving huge amounts of money TODAY by switching to Twigby (contact me to find out how to get a $15 Twigby credit). I’ve been a customer for two years and give it five full stars. And I love their “a la carte” option which allows me to decide exactly how much data and minutes you want to pay for each month (especially nice for limiting your teen’s phone). Click the graphic on my blog menu at right for full details!

And now let’s talk about cable. The average monthly bill is $200. What a drain on the family budget! And what a waste of time, with most Americans watching 2 or 3 hours every day! My family never did get cable; we have movie night once a week and spend $2.99 on an Amazon rental, or watch a DVD from our collection. It’s something to look forward to and eliminates the temptation of vegging out every night in front of the boob tube instead of getting quality, face-to-face time in with your spouse, your friends and your children.

Here are some relaxing and worthwhile things you can do at home instead of relying on TV’s and screens:

• Read a chapter book out loud
• Buy some easy-to-play instruments (they sell sets for children) and put on some fun music
• Play a card game or party game with adult friends
• Play a board game with the family
• Weather permitting, enjoy a backyard game like bocci, croquet, kubb, spike ball or badminton

Spend on Needs, Not Wants

Sit down and make two columns on a piece of paper. One is for the things you NEED to budget for right now; the other is for the stuff you’d like to buy but don’t really have to.

Examples of needs:

• A new kitchen faucet, because yours leaks
• A pair of boots, because yours have a hole
• A pair of cleats, for your son who’s in football
• A night guard, because you grind your teeth while sleeping
• A gift, because your mother’s birthday is next week

Notice these expenditures have a certain urgency to them. Or they solve a legitimate problem. Some might even be non-negotiable.

Examples of wants:

• Another blu-ray disc for your collection (it can wait)
• A bigger microwave (handy but not urgent)
• A new recipe book (not essential)
• A different purse (not essential)
• Your favorite hoodie, in another color (it can wait)

And so on. Tell yourself that putting off wants is temporary, just until cash flow improves and/or debts are eliminated. You can always treat yourself in other ways that are cheap, or even free.

Examples of free (and cheap) ways to relax and enjoy life:

• Rearrange a room just for fun (have one of your children help with moving furniture)
• Go for a walk or a drive alone. Wonder aimlessly for a while.
• Watch a favorite old movie while your spouse takes the children out for a walk or plays a game with them
• Visit a church. Pray, meditate and enjoy the peace.
• Visit a museum or library.
• Buy a bouquet and create a few small arrangements to place throughout your home
• Sign up for a free online beauty consultation, or head for your favorite department store for beauty samples and demos
• Attend a free concert or benefit performance
• Visit yard sales
• Check the free section on your local Craigslist and see what’s available!

For more practical money-saving tips for families on a budget click here. You can also enter to win some extra cash by using the form below in my Amazon gift card giveaway!

 

 

 

 

 

This post is made possible by partnerships with
Responsival and Debtconsolidation.com