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It's the Little Things that Create BIG Savings
Written by: James DicksArticle Overview: Saving money in the family budget during tough economic times is possible. James Dicks examines methods that any family can incorporate into their monthly spending habits.
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It's the Little Things that Create BIG Savings
It’s the small things that will add up; some obvious things like saving on your electric bill or re-evaluating your other monthly bills. Take a few moments to go over your personal budget and examine all the money going out and all money coming in. A few simple strategies, like using fewer Christmas lights and limit the time they are on during the holidays (See my last blog), reducing unnecessary expenses around the home or office, car pooling to work and less or more creative types of entertainment. These are all areas where you can begin to save money.
If you are saving money, then you are making money so remember it's pretty easy for anyone to start making some cash, just save a little. A few other areas that you can look to making a difference are areas such as your insurance; we all have a tremendous need for insurance in all areas such as home, health, automobile, life, and disability. Meet with a trusted insurance agent and review your policies to see where you can make some changes that will keep you adequately insured but not over insured. Insurance is an area that many of us simply buy buy buy!
Top goal for 2009 review what you have in insurance and what you need.
Those of you that are in a mortgage and not upside down, this will be the year to refinance. The rule of thumb is 2 points. If the mortgage rates have dropped by at least 2 points then it is worth refinancing, but hold out because we have a ways to go before we see the bottom of the long term home interest rates. You will be able to make a significant savings by refinancing so pay attention to the rates and be ready to refinance when the time comes.
Oh, there is one more thing; start saying NO to credit. I don’t know many people today who walk around with cash these days. Most of us prefer to use plastic to make our daily purchases and that’s okay if you’re using a bank debit card which allows you to spend money that you actually have in your bank account. But when you use credit cards, you use money you don’t have. That’s when you can run into problems, especially if you don’t pay off the balance at the end of the month and that's when those high interest rates kick in. Do yourself a favor and try to break the credit habit as soon as you possibly can.
Remember, if you’re saving money, you’re making money!
Happy Investing!
James Dicks
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Article Tags: expenses, finance, goals, james dicks, money, mortgage, premieretrade, saving money
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About the Author: James Dicks RSS for James's articles - Visit James's website  Click here to visit James's website   Its the Little Things that Create BIG Savings Know Your Credit Theres No Doubt About It Times Are Still Tough The New Economy Weak and Getting Weaker Dreaming is fun isnt it Part 3 |
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