Last week we posted 13 tips to save money in 2013. The tips look at the big picture all the way down to the little coupon-clipping type of changes that you can effect today. This new set of tips approaches the perennial question (“How can I save money?”) with a monthly approach.
Examine your rent. This tip only applies to renters. Are you paying too much for rent? Yes? No? No clue? Find out with Rentometer. If you’re over-paying by a couple hundred dollars per month, you might be able to relocate and save $2400 per year. Don’t forget to factor in moving costs, application fees, and other expenses though before you decide to relocate.
Automatic deduction/retirement plan. If your employer offers a retirement plan with direct deposit options, take them up on it! Not only will you be saving money for your retirement, but you’ll also not be tempted to spend that surplus income since you never even see it!
Cut out the Starbucks. Paying four dollars for a latte every morning really adds up. In fact, if you cut out a $4 Starbucks drink 5 days a week, 50 weeks a year, you could end up saving $1,000.
Use the envelope system. Put cash inside an envelope for entertainment and dining-out budgets (two budgets that can fly out of control for most people). Once you’ve used up the cash, you’ve used up your entertainment for the month!
Get thrifty. Instead of dumping all of your unwanted clothes at Goodwill, pick through them to see if there’s anything eBay or consignment shop worthy. If so, try to sell these items. If you do donate clothing, make sure you get a tax deduction slip.
Buy thrifty. Also, you can do some of your own shopping at Goodwill or consignment stores to save money.
Learn the art of negotiation. Start negotiating on your interest rates, your debt, your rent… anything and everything! You’d be surprised how many people will accept an offer on their products and services.Back To All Consumer Resources