Tuesday, October 14, 2008

Enough With The Markets - Let's Keep Some $$$ in Your Pocket

It's pretty hard to find ways to put more money in your pockets in these tough economic times, so the best way to improve your bottom line is to keep more of your hard earned dollars in your pocket.

One of the best ways to start that process is with a consistent budgeting process. There are a multitude of good budgeting tools, but there's a nice free tool from quicken that's now free and online. You have to be a bit of an online user to realize the benefits but if you merge your online bank info with your online bills, you can begin to see where your money is going. It's important to see the portion of your budget that is going to discretionary spending. The first step in reigning in spending is understanding where your money is going.

Also, if you want to really tighten your belt follow the tips of this frugal consumer that eliminated $14,000 of credit card debt in 20 months.

Pay Cash For Everything - "I cut up every single card except one for emergencies. I actually put my remaining credit card in a big plastic cup full of water and stuck it in the freezer. That way, I'd really have to work at it to get that card."

Cut out the B/S (Bad Spending) -

Cancel Cable TV - Have you looked at your Time Warner bill lately?

Cancel Land line phone - Try not to use your land line for a week, see if you can live without it.

Go to slower DSL - That would be hard for some, but if you're just online occasionally it's an option.

Personal Care - manicures, hair, etc., this is huge budget drain.

Gym Membership - There is a wealth of good workouts you can do at home (or here's a novel idea, go for a run, it's free).

Brown Bag it - It's hard to brown bag when everyone else buys, but you're not in Jr. High anymore - get over it.

Give Up Starbucks - It's coffee. Your corner deli probably makes a better cup for 1/10th the cost.


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