There might be signs of improvement in the economy. However, with
our living expenses increasing, It is important to be savvy about our
expenditures.
- Review your insurance policies
- Get those insurance policies out of the storage and review them.
If you need help, have your CPA help you determine if there is
overlap, unnecessary coverage, or if coverages that are missing or
need to be changed due to your current situation.
- Save on books and magazines - Use
the library. They have plenty of books, CD’s and DVDs. You can
also request that the library buy certain books.
- Watch for crippling fees
– We get bombarded by fees are everywhere; bank fees, atm fees,
cash checking fees, late fees. Many of them individually are small
and many times we do not pay attention to them, but they can add up
when analyzed as a whole and over time erode your household
finances.
- Be a savvy grocery shopper
– grocery monthly bills tend to be one of our largest household
expenses after mortgage. Many times we shop based on convenience and
shop at the closest store or on impulse and end up buying things we
do not need. One way to save on groceries is the use of coupons, you
can visit online to a site like coupons.com
- Stop pretending –
Many of the financial problems that many American families are going
through now has to due with our consumption patterns. Many
individuals buy to satisfy an inner need to fit in and be classified
as “special”, “vip”, “discriminating”, etc. You need
understand that manufacturers don't care about your mental,
spiritual, nor financial well being; all they care is to increase
sales and profits. Therefore, make your “discriminating”
purchases based on your family current financial means and not to
show your neighbors and friends what brand of shirt you are wearing
when your family is starving and you cannot pay the mortgage.
By taking a little time to implement a few changes to your home
and daily routine, you will see your household income to exceed
household expenses; which is the beginning to true financial
wealth!
