How To Save Money

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.

More tips:

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.

About Luke Ford

I've written five books (see My work has been noted in the New York Times, the Los Angeles Times, and 60 Minutes. I teach Alexander Technique in Beverly Hills (
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