Washington Post personal finance columnist Michelle Singletary helped our guests re-evaluate their monthly budget to reveal $700 in savings! Here are her tips on how you could do the same.
Eat at home ? Save $240!
Reduce ATM fees and become budget-conscious ? Make one monthly withdrawal!
Buy generic food products ? Save $300!
Buy only non-perishable food items as needed. Look through your cabinets. Eat everything in them before buying more food. ? Reduce your grocery bill by half!
No Cable TV ? Save over $40.
Stop renting movies ? Look through your video library and watch videos you already own.
Buy a water filter instead of using bottled water ? Save $20!
Sign up for a limited-use cell phone plan. Use the phone only in case of emergency ? Save $40.
If you smoke, stop smoking. Not only are you being healthy; you're saving money. ? Save $20.
Sayings to Save By
Michelle recommends using one or all of these mantras to help you evaluate your spending habits:
Is this a Need or a Want? ? Movies, vacations, computers, cell phones, and fast food are all examples of luxuries that you can live without.
Sweat the Small Stuff ? A couple dollars here and there add up quickly.
Free is Good ? Clip coupons, listen to the radio instead of buying CDs, watch free TV instead of cable.
