Managing personal finances well should be a priority for every individual. Saving money is an essential part of this complicated process. Therefore, putting your saving foot forward whenever and wherever possible is a good strategy to follow.
Tips to Put Your Saving Foot Forward
Small everyday actions can help you with your savings to a greater extent. Consequently, ACCC wants to help you put your saving foot forward.
Savings on Daily Meals:
- You can start with your cup of coffee. Making coffee at home or taking advantage of coffee at work can save you hundreds a year. In addition, you will also save the time standing in line to grab your daily boost. This infographic will explain the breakdown of coffee costs annually.
- Save on lunch? Absolutely! According to a recent survey by Visa, average American consumer spends roughly $53 a week or $2,746 per year on lunch. For meals out, that’s an average of $20 per week or $1,043 per year. Additionally, Americans eat lunch out an average of nearly twice a week. At these occasions, they spend more than $11 per outing compared with only $6.30 a day preparing their own. Therefore, bringing your own lunch to work is a good way to put your savings foot forward.
- In addition, being smart during your grocery runs can help you avoid any additional consumer debt and help you with additional savings. Staying on budget or even spending less on groceries will free up cash to put aside instead of walking away with more credit card debt.
Savings at Home:
- DIY is a great way to save even when it comes to cleaning products. You can make homemade cleaning products. Buying the ingredients in bulk is just part of why you save money making your own. This article provides some smart housekeeping & DIY tips.
- The average U.S. household spends about $1,900 a year on energy costs, according to the U.S. Department of Energy. And the DOE says that anywhere from 5% to 10% of your residential electricity is sapped by devices that are plugged in 24 hours a day, like TV’s and chargers. Even when the appliances are switched off and plugged on they consume electricity. Start unplugging & work towards debt relief.
- Use a timer for showers and reduce shower time to 5 minutes. Replace your current shower head with an efficient one that gives you enough pressure but saves water.
- Who turned the lights out? Keep only a light on in the room you are occupying, and if you don’t need it, turn it off.
- Have a home energy audit done. Many times energy audits will provide you energy efficient light bulbs and power outlets as well as any urgent home improvement projects such as replacing insulation to conserve energy.
- Avoid paying full price for entertainment and goods. Look for discounted options for entertainment or retail such as Groupon and Living social.
To speak with a certified credit counselor for free assistance with your budget, call ACCC at 800-769-3571.