10 Ways to Save Money When Your Cash Flow is Low
Many Americans complain they are having a tough time paying bills because we are in a tough economy, but for many of the complainers, their bill paying was tough in a good economy. Why? They overspend no matter how much money they make. If they under spend when the economy is good, they will have money left to save and then live off when the economy is tough. Also, when the economy is tough, your good habits will be rewarded with financial peace of mind, transferring the good habits you learned from the better economy to the poor economy. Since the U.S. economic status fluctuates every
12-20 years, it is best to keep a sound financial budget in good times and bad.
1. Put away your credit cards
Paying off your credit cards is one of the best ways to lower financial stress. You can’t pay them off if you are constantly adding to the balance. Carry only one for dire emergencies, and pay more than the balance, to pay off the balance in a reasonable time span. Make sure you tell the company the additional payment goes toward your balance and check your statement when you get it, to verify you were properly credited with the overpayment.
2. Lower your cable cost
This is one of the more obvious ways to save money. Get the bare minimum and put the additional money toward your credit card bills. Try inexpensive subscription services or vending machine video kiosk.
3. Plan your meals
Plan your meals for the lowest cost possible, and shop from a specific grocery list generated from your menus. Food cost vary widely but you will save a substantial amount of money if you shop wisely from a planned menu and shopping list, and cut out prepackaged and junk foods and non-nutritious drinks. It has been proven that one of the most effective ways to save money on groceries is to carry a list with you when you shop. And, no matter what, stick to the list.
4. Click coupons
Coupons are available everywhere, newspapers, magazines and the internet. Many coupon products are new and not always necessary. Make sure the coupon product is something you need and will use after purchase.
5. Loose the “I’ve got to have it syndrome”
Women are blamed for overspending on items they don’t need, but men are just as guilty. Women have a tendency to shop constantly, while men shop occasionally on much large priced items. It you refuse to recognize the fact that you have the “I’ve got to have it
syndrome” you are your own worse financial enemy and financial peace and happiness will allude you forever.
6. Lower your Rent
If paying your rent is stressful, shop for lower rent in a good area until you find reasonable living.
7. Pay attention to gas prices
When I’m out driving sometimes I notice five gas stations within a block or two, some prices are lower than others. Concentrate on the lower priced high quality gas.
8. Cell phones and contract prices vary
Many folks have several cell phone minutes left each month because they are not using what they pay for. Get the lowest available cell phone contract for your needs.
9. Turn off your lights, heat and air
Using too much energy is environmentally wasteful and uses unnecessary money. Don’t overuse on home energy cost or car air conditioning.
10. Sell Your Car
If your car note is difficult to pay, and you don’t owe more than it is worth, sell your car and buy one you can afford. Look at certified used cars, or a car owned by someone who kept it in good condition. Be careful to verify the car is in proper working order before you purchase. One idea is to seek a traveling certified mechanic who will go to the site of the car owner and run test to verify its quality.
Try using one at a time and consistently adding one of these many ways to save money, and before you know it you will be in blissful saving heaven.
Savings Advocate, Author & Artist
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