This is a sponsored post, but the content and thoughts are that of my own.
Charge Yo’ Self (It’s like Treat Yo’ Self, but even MORE rewarding)
It sounds like an oddball concept, but come up with a realistic amount of money per month to put aside and treat it as you would a bill. Most online banks have the option to automatically take from a checking account and move money to a savings account on a pre-set determined day. Even if you put $50 an ‘auto-pay’, to yourself, every month, that’s a bonus $600 a year. Keep it going and ignore it! That $50 deposit that you may not really notice every month will be six grand in 10 years! Your ‘future self’ will love you.
Utilities/Service Fees
Services like cable, cellular and health memberships can often be renegotiated. Typically companies will give you intro rates for a year, you’ll forget and then you pay an increased price after that time. When you get a discounted price for a period of time, simply go on your calendar (and hopefully you’re using something like Google Calendar!) that will alert you when the deal is up! Simply call and ask for the next deal. If the customer service representative rebuffs your request, politely explain that there are other service providers with enticing deals, so what’s to stop you from switching? Unless you’re on an iron-clad contract, this technique often works. I’ve actually had rates dropped WHILE under contract as well!
Insurance Planning
Many Americans use insurance planning as part of their retirement strategy. Should one spouse pass before the other, will the remaining individual have enough to live on for the rest of their days? What if you have children to care for? Insurance planning should be well thought out as finding the right type of life insurance coverage is one of the most foundational aspects of personal finance. Learn the differences between term vs whole life insurance
from a professional so you can make the right choice for your family.
Audit Yourself
Keep a log of ALL expenses for two weeks. One week is not a big enough snapshot! Jot down money spent on groceries, dining out, Target runs, clothing, online purchases, household items, etc. EVERYTHING! It may seem mundane, but after two weeks you may see that you have spent $56 on drive-through coffee. ACK! Making ourselves accountable for spending can ONLY happen if we see the big picture. Study your two-week expense log and I guarantee you’ll find at least two areas in your life that could be trimmed down without much hardship, if any!
It all adds up! If you find yourself saving more money after the self-audit, consider upping the amount you ‘Bill Yourself’ every month. This is a great way to save for emergencies like auto repairs, health issues and even save for that cruise you’ve been dying to take.
Marie Kondo Your Life & Then SELL IT ALL
Sometimes having less stuff actually makes you want less stuff. Clutter begets clutter. If you’ve followed the Marie Kondo craze on Netflix, you’ve already wiped out closets, kitchen drawers and such. Now sort through these items and see if you have anything that you could sell. Don’t bother with the little stuff – Goodwill will gladly take that off your hands, and you can get a donation receipt for that. However, items that are worth $20 or more could be sort on apps like Offer Up or even Facebook has local ‘Garage Sale’ user groups. You’d be surprised what you can sell! It does take a little time to coordinate the buying process, but it’s worth it. Honestly, I’ll often leave the item out and ask someone to leave the money under my mat. If someone wants it that bad where they have to steal it, so be it. However, I’ve NEVER had an issue. I do believe Humans are inheritantly good. 😉
That’s it! What are your ideas to save some dough without major effort?
