12 Tips to Save Money in 2014
Over the years, I have realized the best way for me to save money is to have it deducted automatically from my paycheck and deposited directly into a Savings account. Some people reading this might be saying to themselves they don’t have anything left to save after paying their bills, so let’s look at some ways to reduce monthly expenditures.
• You can cook at home – I know, fast food is so convenient after working all day, but if you make the effort it can pay off – instead of eating out and brown bag it for lunch the next day at work.
• Make your own coffee – at least most of the time. Coffee houses (not to mention any names) are expensive. You’ll be better off brewing your own, except for special occasions.
• Using a list for shopping cuts down on impulse buying – if you follow the list.
• Don’t shop for food while you’re hungry.
• Buying in bulk can often, but not always, save you money. Read prices and contents carefully.
• Pay bills on time to avoid late fees.
• Borrow books and movies from the public library instead of buying or renting them.
• Avoid impulse buying and be especially leery of sales that are for “Today Only!”
• Plan shopping trips to minimize the amount of fuel you use.
• Avoid checking accounts with monthly service charges. UKFCU checking accounts are free, plus there are no minimum balance requirements.
• Avoid ATM fees. UKFCU does not charge fees for using another institution’s ATM.
• Be cautious when confronted with long term contracts for phone or cable services. Sometimes increases are built into the contract which, if not read carefully, can result in unplanned expenses.
You may have to start small, but the important thing is to start saving today. You’ll be glad you did!