We’re at the end of another year. That means that, in our home, my husband’s gathering all of the financial paperwork and doing a review of 2009 in preparation for tax time. The end of the year is associated with reviewing and resolving. The beginning of a new year is associated with new starts, change and improvement. Related to finances, I think it’s a perfect time for Tips on Saving Money! (Make sure and read the interview with Kerry, a shopping whiz, at that link.)
Know Where You Are
Before we can go in a better direction, we have to know where we are, so: I. Find out where your money’s been going
- Look back at what you’ve spent this year
- Itemize expenditures by category, and then total
II. Look at the bills and see what ways, if any, you can cut costs
- Electricity: Turn off lights when not in the room; use energy efficient light bulbs; consider buying more energy efficient appliances; don’t use the second fridge except when necessary; don’t turn the oven on for just one thing; use a clothes line, instead of the dryer, etc.
- Gas: Use a set-back thermostat, and/or turn your heat down a few degrees and wear a sweater; (For you Southerners: turn your air conditioning up a few degrees); don’t use your oven except when needed, and when you do, bake more than one thing, because the most expensive thing is heating it up in the first place!
- Phone: Do you really need all those features? What could you do to decrease this bill? Would bundling or using another provider save you money?
- Mortgage: Seriously look at this as a couple, if it’s an expense that’s more than 30% of your income. Savings options: Refinancing, 15-year loan instead of 30-year, paying a little extra against principle each month, moving to a smaller/cheaper home, renting.
III. Other Expenses: here are some of the ways that you can save some money:
1. Check around (call and compare) for the cheapest auto insurance 2. Possibly bundle with your home insurance 3. Check into Discounts for non-smokers, non-drinkers, good student, etc. 4. Pay in full for the year to receive another discount 5. Buy used, older model cars 6. Don’t speed or get any traffic violations
- “Toys”: Sell the boat, 4-wheeler, snowmobile, camper, etc.
1. Watch for future posts on inexpensive ideas for Vacations
Subscribe and don’t miss a single post.
Like my page on Facebook to receive a free copy of
“Ten Things To Make Your Children Mind.”
Thanks for reading Faith’s Firm Foundation!
Leave me a comment, so I can get back to you. Come back daily for more encouragement, tips, and practical help being a wife and mom. www.wendygunn.net