If you are like most people, your money doesn’t stretch very far these days.  Each trip to the store seems to cost you more and more and it seems that, every week, the prices of the items you normally buy are higher than they were the last time you shopped.  Utility rates, phone bills, cable TV prices, and insurance rates are all on the rise and unless you have a job that gives you hefty raises each year, you probably find it hard to keep up with all the price hikes.  It is becoming awfully difficult to find an extra few dollars to put away for emergencies, retirement, or other unexpected expenses. We have put together a few useful tips to help you make the most of your money.  It is amazing how making just a few small changes in your life can help you accumulate a little extra money to be used in times of emergencies.

One way you can cut back on your monthly expenses is to get rid of your home phone.  If you have a cell phone, you can use it instead of your home phone and come out spending much less money each month.  Many people have already switched to using strictly a cell phone for all of their calls.  After all, most plans will give you free calling after 9pm and on weekends.  If you are going to pay for a cell phone, then it really makes no sense to have a home phone, too. Another way to save money is to reduce all those trips to the store and/or fast food restaurants to buy coffee, colas, or lunches.  Save that money by stocking up on coffee, drinks, snacks, and lunch items at the grocery store and preparing them at home.  Coffee can be put in a thermos to take with you anywhere you go.  Lunches can be prepared at home and taken to work with you.  If you will stop and write down every penny you spend at coffee shops, convenience stores, and fast food restaurants, you will be truly amazed how much you spend each week. When shopping for groceries, you should carry a grocery list with you and adhere to it.  Buying items you don’t need can account for your high grocery bills.  Keep a running list of items you need and buy only what’s on the list. Consider paying a little extra on your house payment each month.  Paying extra will reduce your balance faster and cut down on the total amount of interest you end up paying. Leave your credit cards at home when you go shopping.  You will likely buy much less at the store if you have to pay cash for everything.  Having a credit card handy will probably tempt you into buying something you want but don’t really need.

Set aside a fixed amount in your budget for you to spend each month on groceries, eating out, entertainment, or other variable expenses.  Don’t go over that amount no matter what you do. Check to see what the deductibles are on your home and car insurance policies.  If they are low, consider raising them.  This can save a significant amount of money for you each time you pay one of those bills.  Of course, if you should file a claim, you will have to pay the deductible before the insurance company takes care of the claim but how often do you have to file a claim?  Most people rarely ever do this. Don’t buy the most expensive gas for your car.  Unless there’s some reason for you to use the best gas, it makes no sense to spend that extra money.  Most cars are made to run just fine on regular gas.  Other ways to save on transportation costs are to carpool, utilize buses, or take subways. If you spend money buying books or movies each month, you can save a great deal by browsing the shelves of your public library.  They have every book you could ever want and most of them also keep movies that can be checked out.  Most libraries have “sales” every now and then where you can buy books and movies at greatly reduced prices. Instead of vacationing far away from home, keep your entertainment local if possible.  If you live in a good sized city that has interesting concerts, plays, museums, or other events of interest, schedule several trips to those places for your family instead of going out of state for your entertainment.  If your city is small, then look for a place nearby that offers interesting and artful events.  If you can drive there and then drive back home without spending money on a motel bill, then you can save lots of money. There are many other little ways to cut back on your spending.  If you will take the time to write down every penny of your money that goes out and where it goes, you will probably find other places to cut your spending.

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