Family Finance: Six Ways to Save on Daily Expenses
Friday, May 16, 2014, 1:00 AM | Leave Comment
Running a household is not easy. From electricity bills to groceries and home insurance, there are lots of things that can cost you money. The expenses are even higher for families with children. Over time, poorly managed finances can lead to debt. The good news is that you reduce costs and save on daily expenses by following a few simple steps.
Keep reminding yourself that frugality is not deprivation. With a little planning, you can get the best deal on everyday products and put some money aside.
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Create a Budget
Setting up a family budget is the first step toward getting control of your money. Start by creating an emergency fund. As time passes, you can continue to add money to it, and if possible, pay off your debts with it.
Check out your pay stubs and monthly bills to determine your total income and payments. Determine how much you spend on public transport, food, car loans, phone and electricity, clothes, magazine subscriptions and other expenses. Use this information to create a budget and discover how much extra money you have.
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Compare Auto Insurance Quotes
Another easy way to save money is to compare auto insurance quotes. Go online and search for national and local insurers. Request free quotes from different providers. Compare at least three offers before making a decision.
Ask about discounts and special deals on auto insurance. Choose a company that best suits your needs. Read customer reviews and go to a local Minit-Tune & Brake auto centre car repair shop for your next oil change in Bunaby to find out more about your favorite insurer.
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Buy in Bulk
Most stores offer huge discounts on bulk purchases. Whether you need some bread, sugar, spices, laundry detergent, or carbonated water, consider buying in bulk. You will not only save money, but also make fewer trips to the store. Make sure you will actually use it all before expiration so you aren’t wasting money.
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Cook at Home
If you want to cut costs, prepare your own meals. Take a packed lunch at work, cook dinner ahead of time, and make some homemade snacks for when you’re hungry. Buy fewer coffees and teas. Brew coffee at home, and take it to work in a thermos.
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Use Coupons
Coupons codes are widely available and can help you save a small fortune. Customers who use coupons can use them to get massive discounts on household products, cosmetics, fragrances, electronics, gym memberships, pet food and other items. Most retailers offer promo codes online. All you have to do is to enter your favorite coupon code at checkout.
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Make a Shopping List
Plan your meals in advance. Make a shopping list that includes everything you need. The foods on your list should not exceed your budget. Use coupons to reduce your expenses.
These small lifestyle changes can save you thousands of dollars a year. For extra savings, compare prices and find alternatives for the most expensive items on your shopping list.
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