Find Money You Didn’t Know You Had
Finances are such a snooze-worthy topic, aren’t they? I hate discussing them, thinking about them, and dealing with them. But since the hubs hates it even more, I’m left holding the bag.
In some ways, it’s probably a blessing. I’m naturally frugal and definitely Type A, so I scrutinize where every dime goes…whereas, he thinks nothing of stopping to buy a sandwich every single day.
Anyway, there’s lots of reasons to visit your expenses. Maybe it’s a sudden reduction in income, maybe it’s a new baby on the way, or maybe it’s just that you’ve decided you want live on less and save more for your Golden Years. Whatever the reason, here’s a few quick and easy ways to assess your expenses and determine where you might be able to cut back.
How Long Have You Had Your Insurance? This goes for every type that you are not locked into (i.e. because it’s what your employer offers). Auto, home, life…even some disability insurances. As your life changes, your policies should, too. In our case, we had been with the same company for nearly a decade and had all of our policies through them. When we started shopping around, we found another local provider that saved us more than $630 a year. That’s substantial! We hated to part ways with the provider we already had a relationship with, so we asked if they could match the proposed rate. They came in within $50, so we decided to stick with them. It never hurts to ask!
Use the Internet. There’s lots of free websites that offer to track where you’re spending money. We signed up for Mint.com last year and it became obvious that I needed to stop chastising my better half for that daily sandwich habit. Turns out that Starbucks was eating up a chunk of change as well.
Choose the Fees You’re Willing to Pay. Is it worth a few extra dollars to get cash from an ATM not owned by your bank? Don’t forget that, while you’re charged the fee up-front, you’re usually charged an extra fee by your own financial institution. Five dollars here and five dollars there may not seem like a lot, but after awhile, you’ve spent $100! Based on my Mint.com report, that’s 20 lattes!! Drive the extra quarter mile and use your own ATM.
photo credit: lissalou66
