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The saying goes, it takes three weeks to make something a habit and three weeks to break that habit. You may have found that what started out as a treat here and there - say, that jumbo muffin with your morning coffee - has become a spending habit.
But if you can make small changes to the way you spend, you may find it results in a big difference when it comes to saving. Wouldn't brown bagging your lunch three days a week be worth it if it could mean that you retire earlier? For some, perhaps.
Here are some common sense tips from a variety of sources. These are general ideas and may not reflect your specific situation. They are simply suggestions for helping you find the money:
- Brown bag it one extra day a week.
- Share magazines and newspapers with coworkers and friends.
- Use the Internet for news and research.
- Have your morning coffee and muffin at home.
- Use a list when grocery shopping.
- Get a long-distance telephone package (or use e-mail instead).
- Take a look at your cellphone bills. Are you really using up all those minutes? Can you switch to a better plan?
- Revisit your insurance. Can you consolidate your home and auto plans and save?
- Consolidate your borrowing at a better overall rate.
- Check your bank statements to see if an all-inclusive monthly fee is for you.
- Save stamps by paying your bills online, by phone or at an ABM.
- Use public transportation or carpool more often.
- Go to the movies when tickets are discounted or wait until they come out on video.
- Borrow books from the library.
- Shut off the lights when you leave a room.
- Save all your loose change. Consider adding your loonies and toonies to that pile.
- Gather together all that stuff you don't use anymore and organize a yard sale in the spring.
- Check your mail for coupons and specials at your grocery store. Do the same for dining out.
Again, these tips may or may not be applicable to your situation. Just remember that keeping an accurate record of your expenses puts you in the best position to effectively manage your finances.
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