Realistic Money Saving Tips

With all that is going on in the world today, saving money and tightening the budget is more important than ever. Although, for many individuals and families, there is a lot more month before the next payday. Anxiety about how to pay utility bills or buy groceries can create tension and feel like a huge burden.

Are you tired of reading the same old blog posts and How-To articles about saving money? These cookie-cutter articles usually urge you to stop eating out or skip your morning coffee from Starbucks. These are great ways to save money, but they aren't realistic for those who already make lunches and coffee at home.

What can individuals or families do if they cannot get a second job or already have a second job? It's impossible to work 24 hours a day, 7 days a week to survive. For homes with kids, forget trying to have your own schedule after the piano lessons, baseball practice, or dance recitals. So, what can you do to help your bank account?

Some of these tips and ideas may work for your family, and some may be completely unattainable. In the end, I hope that one or more of these suggestions can help you give you a little extra money at the end of your month. Often small adjustments can add up to a big difference each month.

Re-evaluate your monthly bills.

By changing your cell phone plan or switching providers, you could find new specials or cheaper plans. Often cell phone companies won't tell their existing customers of any rate changes or deals. Check often to see if you are eligible for a better monthly plan or a discounted rate.

Take the time to call around to get different quotes for your home and auto insurance. Bundled insurance packages with many providers can save money for loyal customers. Some people have obtained better insurance rates from their current provider after mentioning a competitor is offering better plans.

Reconsider your cable, satellite, Netflix, Prime, or Hulu bill. Of course, not one of these entertainment providers will have everything you want. You need to determine which subscription is not essential. By cutting one or more subscriptions, or decreasing your current services, the monthly bills will be less.

Pausing a membership can save you big. Many gyms and fitness centers will lock you into an agreement with large cancellation fees. What they don't tell you is that you can pause your membership if needed. Try talking to your local gym and see if you can drop that monthly bill for the short-term. Even a 3-month sabbatical can give you upwards of $150 or more to use elsewhere.

Shop in Bulk

Before you dismiss this idea because you don't have the extra money or freezer space to buy products in bulk, hear me out. Items usually go on sale periodically to help drive regular sales. Quite often, grocery stores will sell things cheaper if you buy many packages.

Find another individual or family in a similar situation as you and partner up. Together you can combine your monthly grocery budget to get grocery items for discounted rates and divide it evenly. By teaming up with someone else, you can take advantage of the cheaper costs, you may not otherwise be able to buy. This way you don't have to worry about storing large amounts of food or spending more money from your budget.

Be Smart About Eating Out

No one wants to stay home every day of the year. Often you will need to have 'Date night' or a birthday celebration. These occasions do not mean that you need to break your bank to enjoy some time out, but you should be smart about it. Instead of spending upwards of $50 or more for a meal out, you will be able to enjoy great food at half the cost.

Plan evenings out according to weekly or monthly specials and stick to it. Many restaurants will have All-You-Can-Eat pasta evenings or $5 Wing Nights. Capitalize on these less expensive options and only plan for those discounted days. Do not stray from the cheaper menu items either. Many people will get coerced into purchasing extra items listed at regular prices.

Reduce Utility Bills

One way you can trim the budget is by decreasing your utility bills. This task is not easy at all, but it can be successful if you make smart choices.

Save on your water consumption. Older toilets can use a significant amount of water with each use. You can replace them with newer, more efficient models to help reduce your bill. If purchasing a new toilet is not affordable, you can save money by limiting the amount of water it uses each time.

Use a brick or another similar item that will not rust from constant water, into the water reservoir tank of the toilet. It will take up space in the tank, thus using less water when you flush. Many people have also chosen not to flush with each visit to the bathroom, and instead only flush when it is necessary. Cutting back the number of times you flush, or the amount of water used can bring down your water bill each month.

Decrease your electricity usage. You can do this successfully in a few different ways.

• Replace light bulbs with energy-efficient options that use fewer watts.
• Unplugging any items that are not in use.
• Ensure you turn off all lights when you are not in the room.

These small tips could save you a significant amount of money each month.

Share a Babysitter or Swap Childcare

For families with children, babysitters are essential for evenings out, appointments, or meetings. This can get pricy. You can reduce the money spent on babysitters by trading evenings with another family.

For example, one evening your children visit a friend's family while you get an evening out. Then you, in turn, will care for their children a different evening. This small change can mean saving childcare costs that were in your budget before.

These are a few simple ways that you can start to see results each month and give your budget some relief. If you have been feeling stuck or unable to increase your income, decreasing your expenses will help manage your money better. These tips can help give you more money each month that you wouldn't have had before.