- Personal Finance
How to save money now in 2016
Many of us are watching the daily news and hearing the word "recession". Across the globe, oil and gas prices are increasing, food prices are increasing -- so saving money is an issue that affects many people throughout the world.
If you want to save money each month, then here are some suggestions to save, without sacrificing too much.
Cook at home
If you eat out at restaurants, fast food places, or grab snacks on the go, it could end up costing you.
In a typical month, you could easily spend the following:
Spending in excess
Dinner at a restaurant
Cook at home
Take out at McDonalds or Wendy's
Bring snacks in the car
Take out pizza
Coffee or latte
Make coffee at home
A related Hub I wrote to save money using coupons:
Find online grocery stores coupons
In a previous hub I wrote, I discussed how to find online grocery stores coupons. By using these, combined with Sunday newspapers coupons, you can easily save $5-$15 a week on groceries.
That is $70 right there! For $70, you could buy enough groceries to possibly last a week, especially if you use coupons.
It is hard to save money on gas because you do not see the actual money you are spending as you are driving. You fill up the tank, and drive for a while, then you fill back up when you are almost out. If you find ways to save money on gas, your fill ups might be less frequent.
- Group errands and trips together.
- Do you typically run out a few times a week to grab some groceries? To save gas, do your shopping only once a week. Buy BOGO (buy one get one) free items, so you will have enough food to last you a week or two.
- If you need to return a rental movie, and grab a stamp -- try to group these trips together.
- If you drive to work, run some errands during your lunch hour -- so you are not making extra driving trips and wasting gas.
Cut out cable
Do you really need to pay an extra $30-$100 a month on cable? There are so many alternatives to watching cable TV:
- Rent movies (for FREE) at your local library
- Play board games, like Scrabble
- Surf the Internet
- Write hubs on HubPages
- Find a hobby
- Take a walk
- Read up on money saving tips online
- Go through your junk, and set aside items for a garage sale
- Declutter your house
- Spend time with your family
- Get rabbit ears, and watch local TV programming
Track all of your expenses for a month
This might see like a daunting task, but if you can keep a notebook, or Excel spreadsheet, of all of you expenses each month, you will be amazed at what you are actually spending your money on, and what you can cut out the next month.
Here are some categories you can use:
- Utility bills (phone, cable, Internet)
- Mortgage or Rent
If you use you credit card for all purchases, then you expenses are tracked for you!
Another hub to read on using money wisely:
Credit cards rewards
By using credit cards responsibly, you can reduce your ATM fees, in the event you quickly need to take out cash from an ATM other than your bank.
You can earn rewards, and dispute charges.
Shop at thrift stores
You can find some excellent bargains at Goodwill or Salvation Army. Do not be ashamed -- you can find some great quality clothes at thrift stores.
Moreover, who will know? Only if you tell folks who may ask, "Where did you get that great shirt from?" Otherwise, it is your little secret.
Would you buy clothes from a thrift store?
I hope these tips inspire you to look for ways to save money.
$$$ It is never too late to help yourself, and help others, with ideas on how to save money. Please share your ideas on saving money below. $$$