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Simple Money Saving Ideas

by Guest Poster

Piggy Bank on Dollar and CoinsThe following post was written by a You Have More Than You Think partner.

If you are trying to stretch your budget farther or simply want to put away more money for a rainy day, finding simple ways to save money on everyday things is a good place to start.

One of the first places you should look to save money is in everyday products and services you buy, such as insurance, TV service, Internet and cell phone service. By going online to a price comparison website, you can easily compare what you are paying against what other companies are offering the same products and services for.

For example, you might find cheap life insurance or cheap auto or homeowners insurance quickly and easily by comparing prices online. Most sites allow you to plug in all pertinent variables, such as where you live, your coverage limits and your personal information. You can do similar price comparisons for cable or satellite TV services, Internet providers and wireless phone providers. By switching to a cheaper option, you can save hundreds of dollars a year.

Another way to save on such products is to bundle them together with the same provider to get discounts. If you get your TV, Internet and phone service from the same company, you could get discounts of up to 50 percent on what the services cost separately. The same goes for insurance. You can bundle several of the same kinds of policies together with the same company, such as two or three auto insurance policies, or you can bundle different policies together, such as auto, home and life insurance. By doing so you could get discounts of up to 25 percent.

The potential to save money doesn’t stop at insurance and technology. One area with a lot of potential for savings is the food you buy.

Many people eat out way more than they should, and if you are one of those, you are sitting on a potential gold mine. Say you go out over your lunch hour every day at work. At a rather conservative estimate of $8 a day, you are spending around $2,000 a year just on lunches. Take your lunch every day instead and you could save that much a year. If you don’t want to quit cold turkey, you could limit your lunches out to once a week, which will still save you about $1,500. Cook dinner more often at home instead of going out to eat as a family and you can save even more money. By cutting one dinner out a month, you could save $600 or more a year.

Another way you can save on the food you eat is to save at the grocery store. Buying in bulk when products are on sale and using coupons are two ways you save extra money. You can also save more by buying store brands whenever possible.

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{ 1 comment… read it below or add one }

addvodka March 20, 2012 at 9:03 AM

I eat out WAY more than I should, and I definitely need to deal with that issue. I would be able to reroute my money to my debt if I wasn't always eating out.

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