Last year I was very fortunate to land a new job with a damn good salary. I remember when I first got the offer I said to myself, Damn my life is about to change. About three months into the job I realized that while I was making more money there was still too much money going out and not enough being saved. They say you are supposed to have enough saved to pay rent for up to six months in the event that you lose your job. Well folks I barely had enough to pay for two months. Can you say check to check? LOL I kept saying to myself, "Damn I need more money in my savings."
Every time I tried to save there was another bill popping up messing up my plan. Cable bill, cell phone, school, rent, etc.... So I sat down and said somethings got to give and started looked at some of the things I had that was just a waste of time. I am not where I want to be but I am in in a far better position thatn I was before. Here is are few of my tips that helped me save more.
* Get rid of unnecessary music and book clubs. Being in a book club may be cool but you end up paying more for the book or CD you ordered due to the shipping and handling. Also most of the clubs have featured selections and if you don't reply in time they end up sending you stuff you never wanted in the first place then you end up having to waste time to send it back. So now I just stick with Itunes if there is a song I want and I listen to the sample. As far as books go to the library or buy the book from Borders they always have great deals.
* Pay the full amount on your credit cards (If you can). Don't be wasting your time with multiple credit cardsyou only need one. A few years back I was just juggling my debt paying on card off with the other and slowing bringing my credit score down. Try your best to pay the balance in full or make sure you are never late. Always pay more than the minimum. Pay just the $20.00 minimum will get you nowhere. These credit card companies have all kinds of sneaky hidden fees and late fees. I paid off all my credit cards and only use one of them now. My credit score has awesome now. (Wow I sound like an infomercial.)
* Brown bag it. Stop making those morning trips to these overpriced coffee shops. Spending $2.00 on a damn cup of coffee and another 75 cents adds up. Instead get up early in the morning and have breakfast at home and make your lunch for the day. Spending $5.00to $10.00 dollars a day on lunch is crazy, save that money.
* Automatic payments and deductions. Most of the companies allow you to go pay online and set up auto payments. This is good for those who tend to forgot that a bill is due. With automatic payment you don't have to stress about being charged that $30.00 late fee. Also contact your bank and have them take money out of your checking to go into your savings. Try putting away $10 or $25 a week into your into your savings. You will be surprised how much it adds up. The old school way of stashing money under the mattress works too. (That's if you don't have crack head cousin living with you. LOL)
* Stop wasting so much money on movies and cable. There are many cheaper options like joining Netflix or watching your favorite cable shows on sites like Hulu.
* Stop trying to keep up with the Joneses. More than likely they are struggling with bills just like you. Liveve within you means. You know damn will you can't afford that Ashton Martin. LOL
* Barbershops and Beauty Salons. Now I love my barber but I realized buying a nice pair of clippers cutting my hair saved me a few bucks. I now only go to him on once a month.
* Invest in your future, find out what kind of 401k plans your job has. Start reading the Forbes and Money Magazines to learn what's really out there. Learn about investing etc. There are people out here making a lot of money.
Those are some of the things I have done to save money. We have to keep an eye on our fianances. Too many times we make the mistake of not paying attention to this stuff and end up living check to check for the rest of our lives. You should be able to know where all your money is going. Come on people get your finances in order.
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