5 Ways to Save Money Now

Trying to save money while maintaining a family can seem impossible. With the cost of food and gas at all time highs, it can seem like there is no hope to have the extra cash you need for emergencies or other unexpected financial occurrences. Despite all the doom and gloom, there are things you can do right now that can help put more cash back in your pocket and give your family the financial security needed to live stress free. Don’t let your finances be the cause of stress any longer. Put these 5 money saving tips to work for you so you can start increasing your family’s financial strength.

Cancel Premium Services

Technology costs money, and the newer something is the more expensive it is. You can drastically reduce your monthly expenses by canceling premium services like cable or satellite television, and opt instead to view your favorite shows via free online streaming services. If you aren’t sold on canceling your services all together, then talk to your provider about options that can help lower your bill. Choosing a smaller television package or slower Internet speeds can often times provide deep discounts that can greatly reduce your monthly expenses. Another common monthly expense that can be reduced or eliminated is mobile phone Internet access. While some individuals may need Internet access on their phone for business use, the vast majority of users only use their mobile phone Internet connection for personal reasons. Cut back on your monthly bills by canceling this service and opting instead to use your home Internet service.

Shop Smart

One of the biggest places where money waste occurs is when grocery shopping. Taking the time to create a shopping list can help save you time and money by increasing your focus, which will reduce the likelihood of impulse purchases. Also, be willing to give generic brand products a try, as many are just as good as the more expensive mainstream brands. Many individuals have also found that clipping coupons can be a source of additional savings when shopping. There are online services that can help you determine which coupons are available in your area, and the places (newspaper or online) where they can be found.

Reduce Electricity Consumption

The cost of electricity is going up worldwide. By conserving the amount of electricity you use you can drastically reduce the amount of money you spend on your monthly utilities. One of the easiest ways to save on your electric bill is by lowering your thermostat. Many individuals have also found that eliminating the use of air conditioning during the summer can save upwards of $400 per year. It can also be helpful to apply weather stripping to the doors and windows in your home to help stabilize the interior temperature. Also, make sure to turn out the lights when you leave a room, and replace traditional incandescent bulbs with compact florescent bulbs for light fixtures that are on for great lengths of time.

Cook at Home

Eating out can be expensive. When you factor in the fuel needed to travel to the restaurant, the cost of food, the cost of drinks and the tip, the cost of a meal out can be monumental. By menu planning and shopping smart you can purchase the products needed for easy homemade meals and save your hard-earned money. Most grocery stores now carry products that can help you cook a meal at home in little time and with little money. Check the freezer section of your local grocer to see what options they have that will fit the needs of you and your family. Also, many individuals have found that brewing coffee at home instead of visiting a local coffee shop can help save a great deal of cash. A latte can cost upwards of 5 dollars, so preparing a cup of Joe at home can help drastically reduce the amount of money you spend eating out.

Drive Less

The cost of gas has been on the rise for years, and continues to be a major expense for anyone who relies on a personal car for transportation. While there isn’t any indicator that relief from the price of fuel will occur anytime soon, there are still things you can do to reduce the amount of money you spend on fuel each month. One of the most common practices is to carpool. To get started with carpooling ask around your office to see if anyone currently carpools, and inquire if you can join them. If there isn’t a carpool group at your place of work, then search one of the many online sites that help link together individuals in your area who are looking to carpool. Another option is to utilize public transit. While not available in rural areas, most metropolitan areas now have a reliable transit system that serves a large geographic region. In addition to fuel savings, driving your car less as a result of using a public transit could even reduce your monthly insurance premium.