Who couldn’t use a little extra money in their savings account each month? The sad truth is that most people don’t have extra money to spend after all the bills are paid. This makes life a despair, increasing illness and depression. While increasing your income is outside of your hands, there are things you can do to help save the money you do earn. The following tips can be used to help you find ways to cut corners and keep extra cash in your wallet.
Become a Member of Sam’s Club
Both Costco and Sam’s Club are great options to sign up to. These places offer great deals on bulk items that people use and eat every day. The membership isn’t free, but the savings you’ll witness from shopping here will more than pay for itself. You can buy bulk meat, veggies, cosmetics, household supplies and just about everything else. The clothing and electronics here are also at discounted prices.
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Use Groupon to Shop for Deals
It’s also recommended that you use sites like Groupon to help you find deals online for the products and services you like to use. There are thousands of merchants on Groupon spanning from clothing retailers to carpet cleaners. Use their search engine to find products and merchants you want to find deals for.
Design a Monthly Meal Plan
Most people go shopping for food without really knowing what they’re getting. So they end up with a basket full of food and drinks that won’t last longer than a couple of days or a week. You need to become more proactive about figuring out your meal plans, so you can start buying the ingredients and foods needed to make it happen. Knowing what you’re going to buy each month will allow you to know how much you need to spend. This will make it easier to budget and plan your savings.
Have Your Home Insulated
Some electric companies offer home insulation services for free for lower income homes. Having this done will help to reduce the amount of heat and air conditioning needed to make your home comfortable. All the doors and windows and vents will be properly sealed to prevent outdoor air from getting inside and indoor air from leaking out.
Use Your Income Taxes Smartly
If you have children and are within the threshold of receiving an income tax refund, then you need to plan around this. It’s good to use it to buy your children’s clothes, shoes and other much-needed items, but what about investing it into something that will help you to save money? You can use your income tax refund to pay off your rent for months or even a full year in advance. This will reduce the stress of worrying about the rent each month, and you’ll be able to spend that money elsewhere (or save it).
Saving money takes careful planning, so you may need to use tools from Intuit to help out. Use the tips above to inspire you to find new ways to cut corners and save money.