5 Simple Money Savers

Saving money isn’t always easy, but it doesn’t have to be impossible either. The key is to set a few small goals, stick to them, and build off of your success. But it takes time. Just as weight loss doesn’t come overnight, neither does a balanced budget. Nevertheless, with a few smart, daily goals, you’ll find yourself reaching your goal before you know it. To get you started, here are five quick and simple money savers that really add up.

Track Your Expenses (The Easy Way). Yes, tracking your expenses can be easy — now more than ever. With free automated services like Mint.com leading the way, you no longer have to dig your way through old receipts or hire an accountant to keep track of what you spend. All you have to do is sign up and the program does the rest. Then, at the end of the month, you’re given easy to read graphs and charts letting you know where your money is going and how you can best save.

Bring Your Lunch To Work. Eating out daily, even if just for lunch, can add up fast. Let’s say you spend $10 a day on lunch (food, drink, tip and tax), multiply that over a year — only including work days — and that totals out at $2,600 a year! Even at just $5 a day you’d still be spending $1,300 each year. As you can see, it adds up. A lunch from home, on the other hand, tends to be in the two to three dollar range — and that’s for a good lunch too. Don’t think you have the time in the morning to pack a lunch? Just pack it the night before. It takes five minutes.

Bundle Your Errands. Gas is expensive these days, especially for larger vehicles. As such, driving everyday just for errands can eventually take a toll on your bank account. Instead, pick one or two days a week to get your errands done. That way you do all your driving at once, and aren’t driving to the store, back home, to the store, back home, and on and on.

Free Entertainment. Going to the movies, concerts and nice dinners can be fun, but they’re also expensive. Instead, look for cheap (or free) entertainment options. Rent a movie and eat popcorn at home, check out the local library (or park or museum), start cooking at home (actually pretty fun!), and so on. Need more ideas? Check the listings in your local paper, you’d be surprised how much goes on around you — and for free!

Online Billing. This one saves you money and time, a two-for-one. Easier now than ever, online billing not only does away with stamps, letters and paper all together, it also frees your time and your mind, giving you one less activity to worry about every month. Plus, you’ll never have to worry about late fees again — those things add up!

For more information on how to save money, check some of our earlier tips or visit our website.

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