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Smart Tips for Saving Money Without Sacrificing Much

December 4, 2011 · 5 comments

in Personal Finance

Beginning to save money is often a difficult process because it usually means giving something up.  However, once you begin saving, the security and comfort that comes from having extra money to spend will help replace the desire for whatever you have chosen to give up. Making simple changes in your lifestyle and spending some time on often disregarded items, such as cheap insurance quote, will often provide you with extra money to save without feeling like you are sacrificing a lot.

To find areas where you can save, write down all of your expenses for the week to see where you are spending money. If you watch cable TV or use your cell phone, be sure to include those costs as well, even though they are charged on a monthly, not weekly basis. Mark each expense for the week as a need or a want. Needs include items such as groceries, gas for the car and healthcare. Wants include items such as eating out, buying new clothes or going to a movie.

Once you create your list of needs and wants, look to see where you can make small changes in each section. Maybe you see cable as a necessity, but realize you do not watch a lot of the specialty channels. Some cable companies will give you a discount if you downgrade to a different package. If your cell phone bill seems expensive, take a second look at your plan. If you do not use your monthly minutes or other account limits, you may save money by switching to a different plan or a different carrier altogether.

Make small changes in your extra expenses. Instead of buying coffee or lunch everyday, alternate days. On the mornings you buy coffee, take lunch from home or make coffee at home the days you plan to go out to lunch. If you plan to go out to dinner in the evening, eat at home for the remainder of the day so that eating out will be a big treat. Look for cheaper ways to spend money with your friends by browsing the events section of the local newspaper, going to see a movie at a second rate theater rather than catching the newest releases or enjoying drinks at a friend’s house instead of a bar.

Analyze other items that you often forget about such as your insurance to determine if you may be able to save.  Get a cheap insurance quote online to see if you may qualify for a less expensive policy or will save money by changing to a higher deductible. Cheap auto insurance quotes are available, as are quotes for life insurance policies.

Taking a fine-toothed comb to your expenses will help you save money without feeling the stress too much.  Sometimes making several small changes can be easier to adapt to than making one major change.

This article was contributed by Nina Bernice exclusively for everydaytipsandthoughts.com and was updated on December 9, 2011.  All content is  for informational  purposes only and must not be substituted for any professional advice.


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{ 5 comments… read them below or add one }

krantcents December 10, 2011 at 11:22 am

Small changes work very well. I started taking my lunch 30+ years ago one day a week untill I was doing it five days a week. I enjoy lunch much more and save more than $200 per month.


Kris December 14, 2011 at 10:29 am

It is so much healthier too KC! If I worked in an office, I would totally be taking in leftovers.


Moneycone December 11, 2011 at 8:31 pm

My credit card shows a nice pie chart of where the money is going. I find that very useful to make adjustments to my spending.


Kris December 14, 2011 at 10:27 am

Yeah, that law that passed that required credit card companies divulge a bunch of info was great for the consumer. Visuals are a great thing!


CashAdvancesUS June 1, 2012 at 6:19 am

Well, saving money is not an easy process and people are used to associate it with sacrificing something. I think writing down your expenses is a very good option, because you can see a clear picture and realize what takes out money of your wallet.Often we do not even notice how much money we spend on thing we do not actually need or could live without.Often the problem hides in small things that need often spendings.Also I think that it would be not bad to create the list of the most necessary things.When you constantly work on managing your expenses and think well before spending money I think it brings good results.Some people just have to time to pay enough attention to what they spend money for and how much,that’s why I think that writing off the expenses and setting small financial goals can help to save money and get to the financial prosperity.


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