We are clearly in a period of high inflation. It is a time to be as wise with your money as possible.
Keep the money that you set aside in an account that saves money. Track your spending so you can trim your expenses.
Focus on paying down variable-rate loans.
Select a credit with low interest and offer rewards.
Pay down high-interest debt.
Take advantage of store rewards.
Save all the condiments when you buy takeout.
Give up happy hour and save 2, 600. If you spend 50 dollars a week on appetizers weekly.
If you smoke, quit, you will save thousands and improve your health.
Cook in bulk and freeze meals. If you spend 8 dollars on fast food lunch, you can save 160 dollars.
Buy holiday paper and cards after the season ends for next year.
Record your expenses for the holidays. Divide in 12 payments. You will be prepared for next year without stress.
Develop hobbies that save or make you money. Knowing how to hem, tailor, and repair a backpack can save you money.
Clothing costs:
Shop at thrift stores for clothing.
Buy off-season during sales.
Swap clothing
Use coupons.
Repurpose old clothes.
Take care of your clothing
Shop outlets
Buy items to fill gaps in your wardrobe.
Repair your clothing.
Style up what you already have purchased.
How much should you spend on clothing? Your monthly income x .05. If your take-home pay is 3,000 that is 150 per month.
Try shopping online like Depop, Poshmark, Stitchfix, and eBay.
Buy quality. Think of how many times you will wear an item if you buy a pair of jeans for 50 dollars and wear them 100, they cost 50 cents a wearing.
Don't buy into every trend. Fashion like history repeats itself.
Rent items you need for a one-time wearing, like a wedding.
Groceries:
Shop bulk and discount stores
Meal prep
Buy generic if you can tolerate the taste.
Shop the middle of the week.
Stick to a list most of the time, unless you can replace an expensive with a loss leader.
Batch cooking allows you to bank your time and resources when you have other things going on. When I was working outside the home as a single parent, it was a lifesaver to have a meal that could easily be heated and fancied up with a fresh salad or dessert.
Family:
Money is often spent on the weekend when you want to reconnect as a family. Look for lower to no-cost ideas to bond.
Sports can be expensive. I limit one per child per season.
buy or borrow equipment
Carpool
How to Save at sporting events:
Use discount nights
buy tickets online
eat before you go
take public transportation instead of parking your car.
pick cheaper seats
go to minor league games
Money savers:
coupons
store rewards
clearance sections
don't be afraid to ask for a discount in stores if you find a flaw.
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