Many of us often feel like we never have as much money as we would like to have or simply are unable to save as much as we should. If you feel like you are living from paycheck to paycheck, it might be time to reexamine how your funds are being allocated and if you can cut back on any superfluous items that are holding you back financially.
Below is a list we have compiled of some items you can eliminate or reduce to save more money:
- Morning coffee: Most of us need a caffeinated beverage to start the day, but it does not need to come at a cost of $5 a cup or more, depending on how fancy you like to get. Instead, buy a nice thermos and brew coffee at home. Doing this can save you at least $80 every month.
- Cycle or walk: If you work within a reasonable walking or cycling distance from your home, why not save a little money on gas with this option? Not only will you save a bit on gas, but you can get a little more in shape as a nice added bonus. You can also consider doing this if you need to travel somewhere near your home. Getting a bite to eat at a restaurant that is nearby? Walk or cycle there!
- Buy unbranded products: Cutting out branded products is something you are only going to feel in your wallet. The fact is that there is usually not much of a difference in taste when it comes to name brand and unbranded products, which is often evident when you take a look at the ingredients and nutrition on the label. Why pay more for essentially the same product?
- Take your own lunch to work: You can prep your meal the previous night or in the morning, depending on what is most convenient. While it might not sound fun, the extra $100 you save at the end of the month probably sounds pretty great. That means you could save over $1,000 at the end of the year.
- Cut back on expensive drinks: Not everyone consumes alcohol, so this might not apply to you. However, a fair amount of people spend a substantial portion of their income going out a few evenings a week and enjoying some pricey boozy drinks. No one is saying that you have to put a complete stop to this, but try going alcohol-free for a month to have an idea of just how much you are spending and adjust your budget from there.
- Carpool: If you are going on a long drive to an event with friends, first see if anyone wants to carpool before you make that drive alone. If you have a long commute to work, ask others who live near you if they want to share the drive, so you can both cut back on costs.
- Take care of your teeth: People tend to dread dentist visits because of all the costs associated with getting work done. If you take better care of your teeth, brushing twice a day and flossing, you will not have to face the pain of expensive dental bills down the line.
- Use energy-saving bulbs: Energy saving bulbs are not only saving you money, but they are also good for the environment. You should also remember to always turn off all lights before you leave a room.
- Re-evaluate your insurance: When we regularly spend on necessities like insurance, we tend to do it without much consideration for the cost. Are you getting the best deal or can you get something cheaper that still provides the coverage you need? Cheaper might not always be better, so pay close attention to the details.
- Shop in thrift stores: No one expects you to get all of your clothes or home items from the thrift store, but getting a few pieces now and then can still save you money. You might even find designer items for next to nothing, so before you head out to buy something new, try your luck at a thrift store first.
Bankruptcy Attorneys in Myrtle Beach
Making the decision to file for bankruptcy is never easy, but is often necessary for those deep in debt to work toward rebuilding their credit. At Lam Law Firm, we understand the frustration, shame, and stress that is frequently experienced by those struggling with mounting debts they cannot begin to repay. Get the financial assistance you need and reach out to our law firm.
Get started on your bright new future and call our office at (843) 695-7700 to schedule a free consultation.