Money Matters That Matter!

Riding out rough financial times can be very frustrating and overwhelming, but a few very small lifestyle changes could make the difference between financial comfort and financial peril.  Being able to stretch a dollar is an art form, don’t let anybody tell you different.  Optimizing your income and expenses is something that has to be studied…something you have to educate yourself on.

There’s two things I personally don’t want to have to do in my life:  end up needing debt counseling help and eliminate the things in my life that I love so I can pay my bills.  But the reality is that you don’t have to give up the things you love, just be a little smarter with your decisions.  These are 11 small ideas to give you a little more financial comfort

1.  Keep a ledger for your financial history.

Like I said in my article, 5 Benefits Of Keeping An Accurate Ledger, keeping a ledger can give you an easy to review record of your finances.  A ledger lets you know where your money is going, and how much of it is going to certain areas.  Think of your ledger your own hand written book of financial history.  Keep it accurate, up to date and review regularly.

2.  Spend wisely at the grocery store.

The grocery store is a money trap, but it’s one you can’t avoid.  Large scale grocery stores pay marketing people a good amount of money to set up the store to make you spend as much money as possible.  I’ll let you in on a secret about grocery stores:  everything you need is on the store’s perimeter, while everything in the aisles are filler that you end up spending the bulk of your money on.  Buy cheap, buy in bulk, clip coupons, keep a look out for sales…these are all practices our parents and grandparents did very successfully in their financial hardships.  There’s no reason why we can’t.

3.  Shop online for clothes and other items.

Two words for you, “coupon codes”.  Many online stores, especially clothing stores, have online exclusive coupons that can potentially give you either a percentage off your order, a dollar amount off your order or even free shipping.  If you’re favorite store, say Express, has an online store, use it for great sale prices.  There are usually a good amount of clearance items and even online exclusives that you can buy on a budget.  If you don’t want to go the retail route, you can always get great deals on auction sites like eBay as well.  Spending smarter on clothes will ensure that you don’t end up in debt relief counseling for your shopping addiction.

4.  Try “hypermiling” to save gas.

Hypermiling is a recently coined term for the practice of getting exceptional MPG out of your vehicle.  There are several websites, groups and people dedicated to spreading their knowledge about this collection ofdriving techniques and practices.   Small steps like going the speed limit, making sure your tires are filled properly, planning your driving route for the least stops and coasting instead of accelarating can really make a difference in how much you are spending at the pumps.  With gas being astronomically high, we should be doing whatever we can!

5.  Rent a movie instead of going to the theater.

I live in a relatively small, modest town so I can’t speak for you big city people out there, but going to the movies is an extremely expensive night out.  For instance, if I take a date to a movie on Friday night and buy us each a medium drink and a medium popcorn to split, that right there is almost a $30 night out!  $30 for 2 hours of entertainment…doesn’t sound like much of a deal to me, and that’s only for 2 people!  Go the Blockbuster or NetFlix route when watching a movie.  You can be in a more comfortable atmosphere, make your own food and watch a good movie for a fraction of the price.

6. Skip the gym for a more basic workout.

Gym memberships and dues are a pretty good sized dent in our wallets every month.  My brother lived in New Jersey, and he was telling me that not only did his gym have a several hundred dollar “activation fee”, but it was over $100 per month.  That is absolutely rediculous…it’s almost a car payment!  Skip the gym and all it’s fancy amenities and go back to basics.  Pushups, situps, pull ups, a few freeweights, some running, a bicycle and a shower is all you really need to lose weight and stay in shape.  Get outside and get some fresh air while you exercise!

7.  Raise your deductibles on insurance plans.

I know what you’re thinking…”why are you telling me to raise something when trying to save money?”.  This is why.  When you raise your deductables, you pay less monthly on insurance plans.  The catch is if you do get into an accident, you will have to pay more.  However, if you are a cautious driver who stays out of automotive trouble, the montly savings can be worth it.

8.  Conserve energy.

Conserving energy is good for your financial status and the environment…it’s like killing two birds with one stone.  There are a few really simple steps to shave some money off of your electricity bill every month.  Don’t run your air conditioner all day, don’t leave your lights on, turn your television and computer off when you’re not using them…these are a few that come to mind right away.  If you take a conscious effort and watch yourself, you will really see a difference.

9.  Learn to cook instead of eating out.

I’ve learned by buying lunches at the office then going out to eat several times a week that those bills add up!  If you go to a place like Subway every day for lunch and spend $6 on a sub, bag of chips and soda, that’s at least $30 a week right there.  A year’s worth of lunches alone at that rate is $1,500!  You can get 15 good sized grocery orders for that.  Take the smart route by learning to cook different dinners at your house or apartment, and packing half of it for lunch.  You will use less food, spend less money and eat less.  You’re a winner on all counts!

10.  Streamline your cell phone bill.

There is a really, really good chance that there are some absolutely worthless charges on your cell phone bill as we speak.  I understand that this is the age of the iPhone and Blackberry where you can check the internet from the comfort of your own phone.  A really beneficial thing to evaluate is exactly how many minutes do you use per month?  How many texts messages do I send and recieve per month?  Do I really need to check my e-mail and the internet from my phone?  If you’re like me, you can probably cut off at least $25 a month off of your cell phone bill by getting rid of things you really don’t need.

11.   Save your change.

It’s something that has been done since there has been change and legal tender.  Whenever I see people actually THROW AWAY change, it boggles my mind.  I’ve gone on vacations from the money I saved in my change jar.  Think of how many currency transactions you make in a year, and then think about all the change you get back.  If you leave it in your pockets, it gets lost.  If you leave it in your car it gets used for impulse purchases on impractical items.  Whenever you get change, put it in your jar and be done with it.  You’ll be surprised at how much you accumulate in a year.