Tuesday, June 5, 2012

Make saving easier

Beau and I have been talking about hunkering down and saving more money lately.  We've been doing really good, packing lunches, skipping unnecessary purchases, and avoiding expensive outings.  But temptation is everywhere and it takes strong will power to stay on track.

You know what is easy though? Changing my Internet plan to save $9 monthly.   It takes will power every time to save $9 and turn down lunch invites, but it only takes some research and one phone call to to save $9 every month.

So my advice to make saving easier?  Take a look at all your monthly expenses, and see where you can cut down those expenses.  Then put those savings in an high interest savings account. Let that increasing savings account motivate you and give you the will power to continue saving.

Here is a list of what I cut down my expenses:
  • Internet( I researched and found a cheaper Internet provider that gave me the same service for less)
  • Cellphone plan ( I called my cell provider and negotiated an all inclusive plan for a lower fixed rate)
  • Rent (When Beau finds his place, we are moving in and renting out my condo)
  • Utilities (I signed up for a fixed electricity rate and lowered my electricity bill by 50%).
  • Car/gas (I bought a used Honda Fit for a low monthly payment and cheaper monthly gas bill)
  • Insurance (Because of my little laziness I have to get my car and home insurance separately.  But once I've established enough insurance history for my home, I can bundle wit h my car insurance for a cheaper rate)
  • Mortgage (Sis and I get a rate hold when rates were low early this year.  When we bought our place, we manage to get 2.49% 2 year fixed, which is lower than variable right now.) 
Feel free to add anything else I have not thought of yet.