Why you aren’t saving money…
Do you feel like that even though you are being cautious of your budget and income–you still aren’t saving money? Maybe you invest a lot of time into couponing but still don’t see significant relief in your budget.
There were times in my own life that I was able to get our grocery budget to only $200 a month but we sometimes never felt the relief of a better budget. After looking closely into WHY.. I found that some of these things were keeping us from saving money…
Are you paying late fees? Look at your bank statement, credit card bills and even utility bills. Are you chronically paying late fees? Evaluate if this is something happening because you are struggling to make ends meet, or simply disorganized. Sometimes you just need a good kick in the behind to get you back on track. Organize your bill pay method so late fees are never an issue again.
Can your family become more aware of resources used? This is one way that money disappears fast in today’s society. We have become so use to having our homes a certain temperature, running hot water handy whenever we want it and even food handy at our finger tips. We often forget about the resources we use that could be avoided:
- Turn the heat down and use extra blankets at night.
- Shut doors and keep windows and blinds closed so cool air doesn’t come in or go out of your home.
- Take shorter showers
- don’t run the dishwasher until it is full.
- Turn lights off when you leave a room, and stop leaving the TV or radio on all the time just for noise distractions.
Simple steps like these can add up over the course of a year to several hundred dollars in savings.
Do you throw away money? Have you ever had a day where you cleaned out the refrigerator and found a garbage bag full of uneaten food? If so, it is time to rethink how and what you are cooking. If your family continually throws away food, you are simply throwing away money. I’m not talking about a bite or two here and there. I’m talking about half a casserole that nobody ate for leftovers, or the meat that went bad because you grabbed takeout instead of cooking. Set a plan in motion to create usable menu plans for your family. Cook only what will be eaten, or split large meals in half and freeze for later use. Stop throwing away money.
There are a multitude of household expenses that are hidden wasted money. If you are truly serious about getting out of debt and becoming financially secure, eliminate hidden household expenses. Think about the little things that could be zapping your income each month. Work to whittle those things out of your life and focus on your long term financial goals!