Better Budgeting for the Savvy Spender

Everyone loves money and everyone loves shopping. There is one thing that everyone loves more than money and that is the peace of mind that they can live comfortably without giving up a thing. I am going to share some tips with you today that will save you thousands of dollars and fatten your wallet the honest way.

Open a savings account.
First of all, open yourself a savings account and vow to never touch a penny from it unless there is a real emergency in which you have no other choice. EVERYTHING YOU EARN OVER YOUR REGULAR WEEKLY WAGES SUCH AS OVERTIME, ETC... DEPOSIT IT INTO SAVINGS.

Eating Out
It is always nice to go to dinner with either friends, family, co-workers or maybe you just want to have a nice quiet dinner with yourself or your significant other. On an annual average, single people spend between $1,560 and $4,160 on eating out, couples $3,120 - $8,320, and families $6,240- $16,640. Cutting down your eating out to once a month and fast food trips to once a week, the average spending is reduced significantly. A single person would go down to $624 -$1,820, a couple $1,248 - $3,640, and families $4,160 - $6,240. WOW!

Grocery Shopping.
Buying in bulk, saving left-overs, clipping coupons and buying store brand rather than name brand can cut your grocery bills in half. Also, check your local sales papers for weekly sales, bargains and coupons. Stock up on great deals and plan your weekly menu around what you have and what is on sale. The average single person will cut their grocery bill from $50 - $100 in half, spending only $25 - $50 a week in groceries or less. That is a $25 - $50 a week savings. AVOID QUICK TRIPS TO CONVENIENT STORES.

Gas
There are many things that we need the car for, school, work, shopping, running errands, doctors appointments, etc. It is expensive to drive anywhere now days. There are also many ways to cut this expensive down a lot. You could carpool if two or more of you and your friends and family are going to the same place or the same area. Also, you may want to get with your friends and family to see if they want to work out an arrangement to go grocery shopping together, take turns carting children to and from school or even plan to ride together for local events such as festivals, church, or yard sales. You can also cut your running down to one day per week. This will also keep down wear and tear on your vehicle. It is always nice to help someone, but if you have that one neighbor who is always asking for a ride, make them give you gas money. Your not a taxi. Make a mental map of where all you need to go to keep from doing a lot of back tracking. Fuel for one car could save you $4,000 or more and two cars $8,000 or more a year.

Energy Costs
Turn off lights, televisions and radios when they are not needed. Have a set time that everything is to be turned off. Use fans to reduce the temperature by 10 degrees to keep the AC from working so hard. Always keep doors and windows tightly closed when running AC and heat. Buy solar powered outdoor lighting. Use halogen bulbs to reduce the amount of KWH. Check out local free events and get out of the house more. Go to the park more or take more walks. Take showers quickly and try not to fill baths completely full. Hang out clothes to dry on sunny days. Wash large loads rather than many small loads. The average energy bill for a family is $400 a month.

Do it yourself.
Although many things needing repair call for a professional, there are many things you can do yourself. Mowing your own lawn instead of hiring someone to do it at $50 a pop will save you around $1,200 a year. Buying a $20 sprayer and some bug killer, you can cut your cost from around $1,000 to $200 a year. That is an $800 savings. Fix minor repairs such as leaky faucets, cracked floor tiles, creaky porch steps, etc... A handyman can cost you up to $3,000 a year.

CUT IT OUT!
Most people have at least one credit card that they have to pay on, others have more and some even have dozens. If you have only one credit card, you could be paying nearly $800 a year in interest. Pay off all your credit cards and then get rid of them completely. Limit yourself to a certain number of checks you are allowed to write per week. STOP SMOKING. The average American spends around $1,800 a year on tobacco. The average couple spends around $3,600 a year on tobacco.

Yard sales
Yard sales are great. You can shop for things at a yard sale for much cheaper than you will buy it retail. Also, have a yard sale of your own. If you have one yard sale a month and only make $50, you will have added $600 a year to your account.

MONEY MONEY MONEY
So now that you have done all the things that you could possibly do to save money, your savings account is bigger than you ever imagined. The average single person will have a balance of around $10,000 to $14,000 a year, thats between $100,000 to 140,000 over a ten year period, Couples will have $160,000 to $220,000 over a 10 year period. The average family will have between $248,000 to $450,000. THAT NEARLY A HALF MILLION DOLLARS!

Although there are thousands upon thousands of other ways to save money, I hope I have helped you a little by offering some tips of my own.