Has living in debt become an everyday affair? Here are a few suggestions to help you end that affair!
1. Buy no name brands – doesn’t matter if it’s a food product, pharmacy or cloths. No name brands will save you money!
2. Use coupons – there are coupons for everything and you can get them on your cell phone. If you are like me you clip coupons and leave them at home, these days you can have the coupons delivered to your cell phone and they come on a regular basis!
Once you’ve proven to yourself that you can develop a budget and stick to it you may want to consider a 0% credit card offer, until then throw them out, don’t even open that mail.
3. Beware credit cards – know how to dig a hole you can’t get out of? Keep adding credit cards to your wallet. You have a debit card for your bank, or you may have a prepaid credit card, 1 more credit card for emergencies is all you need. Don’t fall for the 0% credit card offers unless you handle your credit expertly. These offers are great if you stick to a plan to transfer your debts, cancel the other cards and payoff the debt during the promotional period, but if you don’t have the discipline to stick to a debt reduction plan you’ll wind up in more debt with a huge interest payment tacked on at the end of the promotion period.
4. Develop a budget – stick to it, it’s amazing how many corners you can cut once you start tracking what you spend. Little things like cokes, candy and magazines add up to a lot of money.
5. Buy in bulk – whenever it’s practical, if you live alone does it make sense to buy 10 toothbrushes’ to save money? But it is practical to buy the larger hamburger pack and divide it up at home and freeze it, not only will you save money but planning meals will be easier when you have supplies on hand.
6. Know a bargain – when you see one. Be a smart consumer; know what the things that you use regularly cost.
7. Buy what you came for – leave the rest alone. Do you know a great way to spend more money than you meant to and blow your budget all to smithereens? There are many ways of course but one of the ways that budgets are often destroyed is by going to a store with a spending plan and not sticking to it. You may have gone to save money by shopping the sale but by the time you leave you’ve bought items at a premium and wasted money needed for other things.
8. Use your cell phone to help you avoid late fees. Set up your bank account to alert you every day with your available balance. Knowing how much money is in your account goes a long way to keeping your spending inline.
9. Shop gas prices, it may be cheaper to fuel your car than it was last year but it is still not cheap. The days of cheap gas in the USA are long gone. If you can save 5 cents a gallon it will add up over the long run and make a difference. Use gasBuddy to get gas at the best price close to you.
10. Walk away – this is my favorite stay out of trouble technique. If I see something that I really want and it’s not in my budget plan I walk away. I do a little research on the internet, make sure I know my prices and the quality of what I am getting and then if I still want it I’ll find a way to budget the money for it. This is a technique that I use for everything from a designer purse to the newest energy drink. Impulse buying is a killer it can costs you big time, but if you walk away and still want it days later then you can work with your budget. Treating yourself is so much more enjoyable if you’re not worried about how you will pay for the treat.