Dropping extra pounds this year is a bit complicated than compressing your wallet. With these personal finance tips, you can actually save cash in an instant. So, try it now, before it is too late!
1. Do not throw food in the trash
According to National resources Defense Council in the US, most American family throws food worth $2,275 every year. To avoid throwing out your money through food, plan weekly meals, buy food for one week consumption, and avoid impulse buying. This plan can reduce food waste and costs. Fresh foods and leftovers can be frozen and the following day, you can reheat the leftover to save another meal. In case you cannot abide eating leftover food, be smart by cooking only a small amount of food for the meal.
2. Save dollars through health care
Some think that they cannot save dollars on health care. Actually, yes you can save dollars on it. Make use of your health care insurance by engaging in the network. Remember, do not skimp on immunizations, health screenings, and other kinds of services like wellness classes and discounted gym memberships. Buy generic drugs when possible. Generic drugs are inexpensive but similar positive effects to branded medicines. Take some advantage on spending flexible accounts. This allows workers to save part of their earnings to pay for medical expenses. The cash is not subject to tax but you need to use it the whole year, so you will not lose it.
3. Be smart when shopping
Today, technology can help your shopping easy. You can now shop at the comfort of your desk. There are a lot of websites selling various items from clothing to home appliances, and more. These websites have also printable coupon codes that you can use to save cash when shopping online. If shopping online is not your bet, shop around and compare prices before deciding to buy things you want.
4. Plan a budget
Start with a zero-based budget that every income is allocated to specific expenses like food, savings, mortgage, and entertainment. People who use zero-based budget pay almost 19% of debt and save cash at least 18% every month compare to people who do not use.
5. Make gifts instead of purchasing stuff from stores
Buying gifts from novelty stores are very expensive. Instead, you can easily make candles, cookies, bread, food mixes, and other things at home in an inexpensive way. These ideas can make impressive gifts for friends and families because they involve homemade touch. Homemade things and delicacies are often consumable. When giving gift to someone, include a handwritten note. This note can be more special than the things you bought at the shopping mall – thus saving come dollars.
6. Invite friends at home rather than going out
All home activities are inexpensive compared to going out to meet some friends. If you want to hang around with friends, do not hesitate to phone them and invite to your house. Cook a meal for them, play cards, or perhaps, sing along with the best of your ability. Everyone can have fun; the cost is inexpensive but satisfying.
Applying these tips can surely save you a lot of dollars in your pocket.