30 Day Financial Challenge Update
Last month we featured a 30 day financial challenge. Here are some helpful comments and tips from some of our employees who participated.
I like the idea of doing a no spending day. I have already tried that and it works!
I didn’t pack my lunch but instead I portioned to half of each day’s meal – 1/2 savings!
Tip # 8 A La Carte – Also works for restaurants – to cut cost and portion savings, ordering 1 or 2 small items to full fill a meal, especially lunch will satisfy and also save money verses a large meal.
Know what errands you need to do and pick route to condense car trips for the week to save gas
Raise your deductibles on your auto and home insurance policies.
If the item is a $1 or less, then I purchase several of them at one time. That way I can have the item at a discount and on hand in my pantry until it goes on sale again. Most items are on sale cheaper in the summer than in the winter, so stocking up is a must.
Cut your commute by 40%. I have vowed to walk to and from the office (weather permitting). I live very close so I should walk. Also I would be packing my lunch.
Thanks for the car insurance negotiation tips – I am going to try these when I renew my policy next summer. And I never pay full price for clothes! For our new clothing junkies, try hosting a swap with your friends – this way you can get “new to you clothes” without paying a cent, and have a get together with friends.
Instead of hiring someone to come in and do my yard work I purchase my own fertilizer and weed killers as well as trim trees, shrubs and clean out the flower beds and yards myself. I do not need to pay extra costs for outside sources to come in and assist with these extra little fun things around the house. This also is stress release from my work day as well as physical exercise and prevention with health problems later in life that could create extra medical costs. Fresh air is also helpful later in the day when the air is not heavily polluted with pollen from the flowers and other blooming elements.
Re: Tip #25. I have made extra cash at times free-lancing as a graphic designer. It’s what my major was and by doing some jobs on the side it keeps up my skill set, as well as providing some extra income.
Pre-pay debt. We re-financed our house and our payment went down about $200 a month. We are going to pay the previous amount and then the extra will go to the principal. It will save us some money.
To get your kids to save for something they want just remind them how many times they will need to do a chore that they my get an allowance for. For example a new bike and they will need to mow the lawn 6 times before they would have enough money for that item. It makes them think about working towards a goal do I really want that bike can I find a cheaper bike and they appreciate it more knowing they bought it with their own money. Lots of time they see how much they have in their savings and see it grow they keep saving for something else. I know this worked for my boys which are now 25 and 21.
Everyone is trying to cut back a little. With the warmer weather around the corner, our group of friends decided we would eat out one evening and the next have a barbeque at one of our homes with everyone bringing a dish. Have a more relaxed evening around the fire or playing cards. Still enjoying each others company without the extra expenses you run into when you go out.