5 + 5: 10 WAYS TO SAVE, PART 2

KEEP SAVING!

 

Today we talk about the “small”, often ignored, expenses and purchases because they seem minor. We tend to forget about their long-term impact, but it all adds up (and it all takes a toll). So today I will tell you strategies I use to cut my recurring expenses, the areas in which we tend to lose money every day and seems impossible to tackle, but there is almost always a way to review and adjust your spending.

 

THE 5 “SMALL”

 

  1. Phone and TV: In need of tons of data on your phone plan to survive? Most places now have WIFI, consider a cheaper plan, you can probably do everything you want paying a little less. What do you think about the hundreds of channels on your TV? Most of them are boring and we tend to spend more time switching channels than actually watching TV. Reduce, or better, remove the subscription. There is a lot of free online content that you can see.

 

  1. Utilities: Turn off the lights you are not using, they are in empty rooms: IT IS THAT SIMPLE. Do the same with water, avoid waste, turn off the tap while you brush your teeth, for example. You can save a lot on your bill at the end of the month, but not only that, you will help to use resources and energy efficiently. REMEMBER THAT THEY ARE NOT UNLIMITED.

Look for the right balance, the best mindset . . .

  1. Fees: Do not pay commissions, to banks or ATMs, or for a transaction, ever. There will always be a financial company that wants to charge you for a service that it is NOT giving you, they want to simply take away your hard earned money because you are at a disadvantage. With a little planning, you can usually avoid these fees. Identify them and prepare a plan to eliminate this loss; it does not offer anything, they are empty of value.

 

  1. Gifts: MAKE YOUR OWN GIFTS! People today have almost everything, and it is so much better when you surprise them with your own hands, your effort and your wits by creating something for them. In addition, gifts are expensive. Maybe you have a special skill, you play an instrument, cook well, or you are handy. Give your time and dedication to the people you care for, it is a gift they will never forget.

 

  1. Do it yourself: Whatever you can do yourself will help reduce your expenses. Many things are easy to do and others not so much, but if you put your mind to it you will get a more than acceptable final product. At home there are many choices; if you cook, your budget will go down drastically on food, besides, eating in a restaurant regularly impacts directly on your savings, it is also something you do every day: invest in learning how to cook. For example, make your own bread, in the US bread is very expensive and the base ingredients are flour and water (Another day I will do a post about making bread). Invest in coffee and do it at home, 5-7 dollars per coffee every day is a hefty drag on your finances. Look well at home and experiment with everything you can do to save while having fun.

 

 

I am sure YOU have many strategies that I have not mentioned here, SHARE WITH US your best advice. HELP US TO ACHIEVE THE GOAL!