Nov 10, 2008 6:31 pm US/Eastern
Simple Ways You Can Save Money
BOSTON (WBZ) ―
Jamie Podworski is always looking for ways to stretch his budget. He already clips coupons and buys groceries in bulk. These days, he's also selling his baseball card collection in an effort to get some extra cash. "It wasn't something that I had to have."
Finding a couple of hundred dollars in your budget each month doesn't necessarily have to be painful. Experts at Kiplinger's Magazine say it's simple.
Change Tax Withholdings The biggest reward may be hidden in your taxes, if you usually get a refund. "Go to your HR department at work, you can re-file your W4 form and have less money withheld from your paycheck," said Janet Bodner. For the average taxpayer who overpays, that means about $200 a month.
Avoid Extra Supermarket Trips Another easy way to save is to cut back on your extra trips to the supermarket. "A lot of people go to the grocery store three or four times a week, so if you're spending ten bucks a week on impulse purchases, that's an extra $30-$40."
Brew Your Own, Brown-Bag It
Do you buy coffee a couple of times a day at work, or when you're out running errands? Something as simple as that can up to more than $100 a month. Ditto if you are not packing your lunch.
Cut Down On Restaurants
But you don't have to completely deprive yourself. For example, don't eliminate restaurant visits, just make fewer trips. "The average price for a meal is about $20 a person. So for a family of four, you're talking about $80. Well, if you're eating out twice a week maybe you just cut back to once a week, and there's an $80 savings."
Turn Down The Heat Back at home, turn down the heat. Just two degrees lower and you can cut your bill by 10 percent.
Use Cash Also, use cash whenever you can. Research shows that we tend to spend more if we're using credit or debit cards, than if we use cash.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
Click to enlarge
Stumble It!
Reporting
Comments