Do not buy something JUST because it is on sale. Only buy what you need, WHEN it is on sale.
Do not waste money thinking that you have to get a new car every five years. You will never get ahead that way.
Brown bag your lunch to work, rather than buying or eating out.
Use public transportation when possible, it is cheaper than gas.
Lotteries are a waster of money and a tax for the naieve. Do not waste your money on lottery. This should be spending cut #1.
Only shop for clothes when you absolutely NEED to. When your clothes are worn, have holes or are faded and you can no longer wear them and look decent, that is when you should purchase new clothes. You can only wear a max of 14 outfits a week (and that is wearing two a day). There is no need to own 300 items of clothing.
Pay off your credit card balance whenever possible. There is no reason to THROW money away into the INTEREST trashcan.
If you were to lose your job, you should have enough money to cover your household for six months. This should be the emergency savings and it should be goal #1 for getting ahead.
Making more money is not the answer to your troubles. Spending less is the answer. If you made more, you would just spend more and you would be in the same boat as you are now.
You should be saving at least 10% of your gross income. The ideal target is 15 to 20%. Saving is a great addiction when you begin to see the numbers of that account begin to build up. You will want to make it grow and grow more. It makes you feel like you are worth more when you can say that you have "X" amount of money.
How to Save and Become a Penny Pincher for Household Expenses
Detergent, paper towels, trash bags and small appliances are all household expenses. Small expenses, over time add up to major money.
Keeping your housekeeping expenses under control:
Do not try and maintain a lifestyle beyond your means. Live beneath you financial means. You do not need to display how much money you have by spending it on unnecessary household items.
Follow storage and care instructions for food and clothing. This prevents errors and wasting.
Buy NON-Disposable products such as Razors that last, cloth napkins, rags and kitchen towels. They may cost more the moment that you are buying, but they will save you lots of money in the long run.
Always try to learn how to do household repairs yourself if you can, it is cheaper than hiring someone to do it.
Get in to recycling. Save cans and turn them in for money to the scrap yard. Save on your trash costs by recycling or burning rubbish.
Do not use the excuse that an appliance is broken, to purchase a new one. Most of the time, the part to fix it is cheaper and it will last just as long with a repaired part. Most appliances can be fixed for little cost.
Live by this rule: "Use it Up, Wear it Out, Make it Do or Do Without It."
Save receipts for major purchases so that you can report losses to the insurance company if something disastrous occurs.
Save all your warranty's and keep them in the proper location so that you can find them when you need to return your item. Many people lose their warranty and then just PAY for repairs or replacements. It is a waste of the money paid for the warranty, the money to purchase the item and the money paid to purchase the new item. BIG MISTAKE due to disorganization.
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