25 Money Saving Tips To Stretch Your Budget Further

Having a realistic budget can help you plan your expenses, put your finance in order and get you out of debt. However, staying in a budget is difficult for most people. If you happen to fall under this group, then you can apply the some of the tips listed below; these tips will help make your life easier and help stretch your budget.

Ways to save cost on Home

Whether you are a landlord or a tenant, they are various ways you can save more money. The tips below can help you out.

  1. Assist your landlord with odd jobs: As a tenant, you can save more when you do odd jobs for your landlord or improve your place to reduce rent. You can consider projects like lawn care or snow removal. However, ensure there is a balance between the project expense and the amount of money you plan on saving (you weigh cost/benefits ratio). Avoid projects that the expense is more than what you have to save. For instance, you want to spend close to $50 for a project to cut your rent by $250.
  2. Make money from renting free space: Why not rent a space you own which is of no importance to you at the moment. You could rent your storage space, parking lot, or any other room you are not using. Other items such as an old vehicle or a boat can be rented out to earn extra cash.
  3. Consider having a roommate: Not everyone may find having a roommate a good idea. However, if you have a family member or a close friend in need of a place to stay, you should consider this option by taking a roommate to supplement your mortgage or rent. You can check your lease agreement to identify if there are restrictions on additional tenants.
  4. Frequent routine maintenance: In as much as preventive maintenance will cause you pain; it will also save you lots of expenses in the long run. “prevention is always better than cure.” Ensure you schedule regular check-ups on your properties and repair any faults or damages in your home. When you practice this, you can save yourself from huge expenses in the future.
  5. Take a second look at your tax assessment: Each year, ensure you check your property tax assessment properly. If possible, you can also check it against your neighbors. Assessors, just like every human on the planet are bound to make mistakes. You may be overpaying. And also, tax payment changes with time.

How you can save money on Utilities

Payments such as heat, cooling, cable, insurance, phone, and other monthly bills make up your utility. These expenses may appear fixed, but several ways exist to tweak them and save more. Ensure you pay close attention to your bills to prevent paying for things you do not need.

  1. Use a fan: This is an effective way to cut your cooling cost significantly. You don’t have to crank your cooling system when the weather is hot. You can leave your door or windows open to maintain ventilation or even hang out in a cool region in your house.
  2. Reduce your thermostat by a few degrees: During cold days, we tend to increase the temperature of our heat system to get warm. You can save yourself extra cost on your gas or electric bills by turning the heat down a few degrees.
  3. Cut out cable: You really don’t need a cable if you have already subscribed to streaming services such as Netflix, Amazon or Hulu. If cutting off cable service may be difficult for you, then consider using a Roku, Sling TV, or Chromecast. I use Chromecast on my TV’s so I can easily stream content I get on my phone to my TV.  I have cut the cord myself and love having HULU and Netflix as my primary television entertainment.  Hulu for TV Shows Primarily and Netflix for Movies.  I also have a secret Movie app that I use.  If you want more info on that comment below and I’ll email you the details.
  4. Unplug: Always pay close attention to electrical appliances that consume a lot of energy, ensure you turn them off when you are not using them. This may be a difficult task, going around the house to turn off devices not in use, but it will reduce your expense on electrical Remind your family members to always turn off electrical appliances when not in use. You all can develop this habit like switching off light or unplugging TV cords, computers, video games or other electronics when there are not needed. You will also find that if you leave things plugged in to an outlet even if it is off it still draws a small current that adds up over the month.  If you are a busy professional consider pulling all the plugs out when you leave for the day.  You would be surprised at the additional savings you will have.  I use to do this in college and would easily cut my power bill by 10 bucks a month.
  5. Pay bills early to prevent extra fees: You can prevent additional cost when you pay your bills on time. You can set up automatic payment of bills when due directly from your bank. A lot of utility organizations offer budget billing services that will maintain a steady bill all through the year (bill may decrease if usage decreases).
  6. Switch network provider: You can switch your current network provider to a smaller, lesser-known wireless company. The benefit is that they offer great deals. You can save a lot of money by switching network providers. Also, you can also reduce your bills by using less data, texting or calling services.

Ways to save money on Food

On most of our budget, food expenses happen to be on the high side. Despite the fact that spending money on food is justifiable, there are lots of ways you can save money by slashing your food budget.

  1. Eat at home: Try as much as possible to avoid or reduce the rate you eat at restaurants or fast food joints. Eating at home is the best way to save money. You will spend more money if you are always visiting restaurants or fast food no matter how cheap there are. Trust me when I say you will end up saving more money if you get food items and prepare what you want to eat yourself. Plus you will save money on Clothing that will continue to fit instead of buying clothes to fit your new waistline.
  2. Buy what you can eat: Having more than enough food items in the refrigerator or store may be one of the reasons you happen to spend more. I am sure you must have experienced several scenarios where food gets spoiled or you end up not using them again. Instead of buying all kinds of food and or ingredients you don’t need, ensure you go for items you use, also get the right amount.
  3. Use a lift when shopping: Ensure you take a list with you whenever you go shopping. It serves as a guide and doing this will save you money because it prevents you from purchasing items you do not need or didn’t plan for. Before you go out to shop, think about the things you want to buy, pen them down, and stick to it. STICK TO THE LIST!!!  Easier said than done though.
  4. Stick to a routine: Having a food routine may sound boring, but this is actually an effective way to save money. You can cut down your grocery bills when you stick to a routine. Once you have a plan, you know what you want and the item you need to purchase. Thus, it saves you the cost. Just figure your family’s favorite foods, and stick to it. You will also have less bowl problems.  Our bodies are very adaptable and if you constantly introduce new ingredients you tax your system to a greater degree trying to figure out how to handle it.  Keep it simple and eat to live not live to eat.
  5. Go on a Diet: Not one of those expensive shake diets or buy overpriced frozen dinners.  If you want to lose some serious weight do Intermittent Fasting.  You are guaranteed to lose weight and spend less as long as you don’t pig out after the fast.  I have like a method called the 16/8 fasting method.  I stop eating at 10pm at night and don’t eat the next day until 2pm.  Just something to look at make sure you have medical approval before you jump into anything this intense.

Tips to save cost on Transportation

Having a car is amazing. However, the cost of maintenance is very expensive. Below are money saving tips you can incorporate into your budget to reduce your cost of transportation.

  1. One car is enough: If you have more than one car, and you find it difficult with payments, upkeep, and insurance, then you should consider sticking to a single You can also put your old vehicle that you hardly use up for sale and use the cash to pay your bills.
  2. Automate errands: Saving money on gas by automating your errands will make your life much easier. Ensure you call ahead to confirm if a meeting is going to hold, use free delivery services whenever you purchase goods, create a list of the items you need before going to the store and ensure your errands are organized will save you plenty time and money.
  3. Walk if possible: You can decide to walk your errands especially if the place you are going to is close by. Doing this saves you cash for gas, it also gives you are an opportunity to stay active (exercise).
  4. Consider public transportation: Using public transport not only saves you cash but also saves you from the stress or worry about traffic, car maintenance, money for fuel, or the stress of driving. Taking a bus is not a bad idea, you will end up saving more money compared to when you use a personal car.
  5. Carpool or share a lift: You can set up a carpool for your place of work if you have coworkers living nearby. Rotate drivers and cars. Doing this can save you from fuel cost, wear and tear on your car, and also stress. Using carpool can also help improve your relationship with your coworkers and get you motivated when lazy. In addition, when going to an event, find out if anyone is headed in your direction so you could split the fare, thus, saving almost half of the original cost. This works well with Lyft, Uber, and also cab rides.

Ways to minimize cost on Household needs 

Taking care of the house is actually expensive. Form cleaning supplies to beauty supplies and other items you will be needing to keep the house in order add to the list. The tips below can help you save more on all your household needs.

  1. Why not do it yourself (DIY): We often pay for most jobs we can handle in the house. Jobs like fixing broken items in the house, manicure, styling your kid’s hair or painting the house should be carried out by yourself instead of paying someone to do them. Weigh the cost/benefit of your time, DIY will save you lots of cash. In addition, you can also learn a skill or two which will be handy at home to prevent you from hiring someone.
  2. Bulk purchases: Ensure you stock up when you find a good deal on items like shampoo, paper towel, lotion, toothpaste or items frequently used in the house. Buy items, especially dry goods in bulk. Paper towels and toilet pay can last longer, so if you find a nice offer, you can buy as much as you can as long as you have the means to store them. Do not hoard supplies, but purchase much when you see a nice deal.
  3. Do your exercise at home: Getting in shape is important, but you do not need to spend money on a gym membership to stay fit. The monthly dues for most gyms are over $5o a month if not more. You can do your exercise at home, there are lots of workout plan you can carry out from the comfort of your home. You can check out craigslist for workout tools and set up your gym in your house or office. You can also check for videos of home exercise online via YouTube.
  4. Minimize the use of disposables: Most of us are familiar with disposable items such as plastic bags, paper towels and paper plates because there are convenient and easy. These items tend to cost more upon accumulation. TO cut cost, use towels or rags to clean the house, re-use grocery sack and avoid using disposable plates or spoons.

Besides the tips provided above, they are many other methods you can explore to cut down expenses, and help you save more. And if you find it difficult to find a method you will be comfortable with, you can seek help from any financial planner or financial counselor like Dave Ramsey’s Financial Peace University.  Staying within a budget will give you control over your finances, so find the right technique that will work for you.

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