Home
>
Personal Finance
>
Budgeting Tips to Save Real Money

Budgeting Tips to Save Real Money

Sticking to a budget can be difficult, but with so many demands on your finances you have to be extra cautious. TV ads are constantly bombarding the airwaves with messages that you need to buy this or you must have that. Usually, if you just wait a week or two, the urge to buy that new gadget will pass. But, what should you do if you have already spent more than you have? The following are several real world ideas that can help you save real dollars.

First of all, consider refinancing high interest-rate loans and credit cards. Obviously you would like to pay as little interest as possible, sometimes by shopping around and transferring a balance to a low-interest rate card, you can save hundreds of dollars. Even better, if you can find a lower rate on your mortgage, you will be savings thousands of dollars. Just make sure to get your debts paid down as quickly as possible.

Secondly, change the deductible on your auto insurance to $500 or $1,000. This change can save you up to 40%. The insurance company will make money no matter what. If you file a claim they are likely to raise your rates to make up the difference so you end up paying no matter what. It makes sense to cover the first $500 or $1,000 yourself and enjoy a lower monthly premium in the meantime.

Another idea is to trim some small expenses. For example, if you get your haircut every 6 weeks, see if you can go 7 or 8 weeks instead. This will save you the cost of 1-2 cuts per year. Check out that book from the library instead of buying it. Try renting a video instead of going out to the movies. Purchase a ready-made meal at the grocery store instead of going out to eat. Be creative and see what little expenses you can trim that will add up to big savings over time. Other ideas include clipping coupons, taking your lunch to work, carpooling (or walking, biking, or taking the bus), stop smoking, and finally just don't even open up that catalog. Toss them out immediately. If you peek inside you're bound to find something you like.

In order to make sure that you stay on track with your budget, it is important to know where you stand. To get an idea of how your spending compares to a typical budget and see where your money is going each month, take a minute to use the free budgeting tools available at http://www.trimyourdebt.com/welcome_budget_short.aspx?src=art

Don Blackhurst is the co-founder of TrimYourDebt.com (http://www.trimyourdebt.com), which provides free budgeting tools, debt planning, and credit help. He has been working in the banking and finance industries for over 16 years and has an MBA with an emphasis in Finance and Econometrics.

Batchtown Chicago prom limo .. Lockport Chicago limo O’Hare

In The News:

A virtual private network can help ensure your information remains security and your privacy remains intact. Kurt the CyberGuy explains.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Artificial intelligence-based cameras are giving air defense operators unprecedented capabilities in monitoring and protecting airspace.

Apple's iOS 18.1 Inactivity Reboot automatically reboots your iPhone if it hasn't been used or unlocked for more than three days, providing better data protection.

An inventor designed rooftop solar panels for a Tesla that draws solar energy while the car is parked, adding travel mileage without plugging in.

There are currently no laws governing what artificial intelligence can and cannot do with the information it gathers; here are 10 things to avoid telling AI chatbots to keep yourself safe.

A credit union with over 240,000 members recently revealed it was targeted by cybercriminals, resulting in a data breach that was part of a two-month attack by hackers.

Scammers have become skilled at creating convincing fake websites that can easily fool unsuspecting users. The CyberGuy offers tips to protect yourself.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

CAPTCHAs, which are used by websites to confirm whether users are people or bots, are harmless, but hackers are using them to infect PCs with malware.

Hackers recently leaked personal information of about 500,000 Americans and stole patient medical records that included lab results and insurance details.

The holiday season sees a rise in mobile shopping scams. Tech expert Kurt “CyberGuy" Knutsson helps you learn how to stay safe.

Tech expert Kurt “CyberGuy" Knutsson says a VPN enhances online banking security by encrypting data and protecting privacy.

Beware of these six sneaky holiday scams. Tech expert Kurt “CyberGuy" Knutsson gives you tips to avoid falling victim.

Tech expert Kurt “CyberGuy" Knutsson reveals how to securely back up and factory reset your Android to protect your privacy and data.

Artificial intelligence is making life easier for cybercriminals, allowing them to create elaborate scams to trick people. Kurt the Cyberguy explains how to protect yourself.

Cut through all the digital clutter and delete multiple emails from your Android simultaneously. Kurt the CyberGuy explains how it's done.

Tips to prevent your holiday decorations from being stolen

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Kurt "CyberGuy" Knutsson lays out the immediate steps you should take if your phone has been hacked and your personal information becomes vulnerable.

Fraudsters are sending people bogus invoices through PayPal as part of a sneaky scam that is going around; here's how to protect yourself from being fooled.

A former Colgate-Palmolive employee was shocked to discover $750,000 had been drained from her 401(k) account. "CyberGuy" offers tips on how to prevent identity theft.

Electric vehicle maker Harbinger recently showed its electric delivery truck can handle icy roads with agility and stability in winter.

To make the busiest time of year more manageable, here are some tricks for tracking your packages, taking quality family photos and curating the perfect Christmas playlist.

Kurt "CyberGuy" Knutsson explains how to keep your online Amazon gift purchases a secret from loved ones or friends this holiday season.

Budgeting Tips to Save Real Money

Personal Finance