If you are looking for ways to cut expenses, you will love these money saving tips with drastic results! We’ve rounded up ideas that are not difficult and that are a great place to start to help get your family finances in good order. Most of them are easy enough to implement right away, or take baby steps with one at a time.
- Bill planning – Write out your bills, see post here about planning a budget. Writing out your expenses will help you see where additional money may be saved. You should also take a look at a company like Simply Switch, who can help you save as much money as you can when it comes to sorting out your energy bills.
- Television – Consider switching your cable to Netflix, Amazon Prime streaming, or bundle TV – phone & internet. Stick with basic programs – do you really need 400 channels? For instance, the NPD Group estimates that the average household pays between $86 – $123 per month on paid TV. Switching to Netflix at $8.99 per month can save upwards from $77 per month which translates close to $1000 per year in savings.
- Phone service – consider whether or not you need a home phone line or opt to pay for local calls only and use the cell for long distance. Many people today are simply sticking with their cell phones all together. Combine cell service on a family plan. Not everyone needs a smart phone! While some need them for work or for other important reasons, often times the kids do not. If you want them to carry a phone while they are away from you – opt for an affordable phone with a prepaid card. If they sometimes need to stream videos or movies – get an inexpensive tablet (makes a good Christmas gift) and download movies. “American households that use landline local and long-distance phone services spend an average of $50 a month, or $600 a year, according to market-research firm TNS Telecoms.”
- Insurance – get quotes to get cheaper car insurance, homeowners, flood & disaster insurance. Often times we get stuck in a plan that isn’t best just because we’ve had the same company for awhile. Of course, you must weigh the benefits if there are rewards for long time customers, but if there aren’t – you may be better off with a new company. Talk to your insurance agent, and get a few quotes from other agents to compare as well. Sometimes you can save by combining policies from one carrier, other times you do best with individual policies on each item. The trick is to do your homework – it will pay off!
- Electric and water – check to see if your state has a money saving program or plan in place. In some places – you may qualify for discounts on electric. When taking a bath, don’t fill the tub too much, when showering – keep it short, when brushing teeth & washing your face – turn water off in between rinsing. Turn lights off when you leave the room, and switch to longer lasting, energy efficient bulbs. Clean and replace air & heating filters. Use a programmable thermostat. Similar to point one, for your electricity bills it will be beneficial to look into changing providers every now and then, especially when you notice a huge price hike, by researching into the likes of Ambit energy rates and other providers you’ll always be sure you’re paying the cheapest price possible.
- Entertainment – plan for family fun. Use Groupon for local events or special occasions. Create family fun nights with old fashioned games, take walks at the park or in the woods. Cook together – gather in the kitchen to make dinner and desert. Make plans for your family ahead of time. Do some research about local events in your area, or find coupons for fun activities. AZ Secret Discount Assistant provide some fantastic discounts through their google chrome extension to save you money on the stuff you love to buy online.
- Meals – the number one rule for saving on groceries is to plan your meals and make a list before shopping. Additionally, you can use coupons and shop the sales to save an extraordinary amount. Consider joining an affordable program like Build A Menu, which will save you more than the cost within the first trip or two to the store! These strategies may take a bit of time at first, but can quickly become a part of your lifestyle and perfectly painless. You will definitely feel less pain when it comes time to balance your accounts!
Begin planning your family finances with these easy to use printable planner sheets. Enter your email to be directed immediately to the download page. Print as many copies as you need. We never share your information with others.