October 17th, 2018 | Updated on March 22nd, 2024
Are you spending too much and would like to save money? If so, this is the article for you. In every household there is always a way to save. However, we have to find the right way for our family. Here are 6 ways to save on your expenses.
Share a ride to work
If it is possible, then share a ride with a friend to work or school. You can also start carpooling. The results of sharing a ride is going to help you a lot down the line.
Not only will you be saving money on gas which is getting more and more expensive, but you will also be saving on your vehicle’s maintenance. Things that you will be able to save on include oil changes, tires, tune-ups, etc.
Find an insurance provider that fits your budget
You can save hundreds a month by taking the time to find cheap auto insurance companies in your area. It’s ridiculous how much people are paying for insurance. Make sure that you do your research.
There are many discounts that you will be able to qualify for. Make sure that you ask about all the discounts that your provider has to offer.
Also, check other providers. Discounts include the accident-free discount, anti-lock brakes discount, affiliation discount, low mileage discount, auto-pay discount, and more. Insurance providers will rate individuals differently.
One person may get a cheaper quote with GEICO and another person may get a cheaper quote with Progressive. This is why it is important that you compare multiple quotes.
Also, don’t be afraid to remove coverages that you don’t need. I was able to knock off over $60 a month on my insurance plan by removing roadside assistance, rental car coverage, and more. Unless you ask what can be removed off of your coverage you will never know.
Refinance your home
Are your interest rates too high? This is a problem for most Americans. There is a strong chance that when you purchased your home you had a less than stellar credit score.
If you refinance your home now with your better credit score you may be able to save a couple hundred dollars. Many homeowners boast savings of over $2000 after they refinance their homes.
Be a wiser grocery shopper
Shoppers can be saving so much money if they learn to be a smarter shopper. For example, if you are shopping for medicine, you could easily save $2 by choosing the store brand medicine.
I’ve learned that most things have the same ingredients, the only thing that you are paying for is a well-known brand. It’s ridiculous to pay more for hype when you could be saving your money.
Instead of paying for a certain brand of something, you should buy a Great Value brand or an off brand. Start buying more groceries in bulk which will also help you to save in the long run.
Invest in a piggy bank
A piggy bank might seem a little old school, but it works. Start being stingy with change that you have in your pocket. Instead of buying cheap things that you don’t really need such as candy, learn to discipline yourself. Save all the loose change even if it is only pennies.
The best entrepreneurs have one thing in common, they known that every amount counts even the smallest amount. After the end of the year break your piggy bank and check to see how much you saved. I guarantee that you will be proud of yourself.
Start doing things yourself
My friend was given a quote for $800 to change his radiator. He felt that the price was not fair, so he declined the offer. In a few minutes the mechanic called him with a quote for $400. He still felt that the quote was too high.
Instead he went on Amazon and purchased a radiator for around $80 and he had a friend hook it up for free. The entire process took 20 minutes.
It’s so easy to have other professionals do things for us for a fee, but if we take the time to learn we could do the same. My friend saved hundreds of dollars.
Instead of going out to get coffee in the morning, why don’t you make it yourself instead of paying over $20 a week on coffee? Instead of calling someone to paint your home, paint it yourself. Only call a professional as your last resort. Make every effort to learn how to do things on your own first.
Saving money quotes
- “The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind.” —T.T. Munger
- “It’s not about how much you make it’s about how much you save.”
- “A budget is telling your money where to go instead of wondering where it went.”
- “Beware of little expenses: a small leak can sink a great ship.”
- “Don’t lose sight of why you’re making a budget and saving money.”
