Most people find it easier to cut spending rather than increase income.
Over the past 17 years, I’ve maximized my personal freedom by cutting my expenses. I like doing what I want to do when I want to do it.
Here are some money saving basics:
* Eat at home rather than at restaurants. Do without the Starbucks coffee. Make your own. Pack your own lunch. Don’t go out drinking.
* Drop your home phone and rely on your cell phone. Drop your cable and rely on Netflix streaming for just $8 a month.
* Make a list before you go grocery shopping. Don’t do it on an empty stomach. Keep an eye on the expiration dates for perishable goods.
* Buy in bulk and buy generic.
Use grocery store bags to line trash cans: This may not work if you use a massive trash can but we use a small sized one for which the grocery bags are a perfect fit. This not only helps us save some money, but reduces our environmental foot print and avoids the kitchen from stinking from a huge overflowing trash can.
Consolidate and pay off debt as soon as possible: If you carry any debt, focus on consolidating it to a lower interest and paying it off as soon as possible. Money paid in interest is money thrown away! Why spend your hard-earned cash to make the financial institutions rich?
Pay your bills on time and avoid late fees: Get organized about your regular bills. If possible, automate the payments. Most utilities and other recurring bills can be set to be charged to a credit card or deducted from a checking account these days. Also, many banks offer free bill pay programs. So there really is no excuse for forgetting to pay a bill on time and forking out the late fees. Say, by chance you do forget a bill, if you are a first time offender, call the company and request politely to waive the late fees, and more likely than not, they will oblige.
