Tips From Mom and Dad on Saving Money

In today’s world, there is an overwhelming air of self preservation. Companies advertise to our desire for comfort and ease in this journey of life, but sometimes the harder solution is the best one. Mom and Dad, as we find out along the road of life, are pretty smart and tend to give us advice based on their own experiences. Here are some things they will tell you about how to save and increase the income in your home.

Stop Eating Out

Millions of people eat out every day. Some don’t have time to cook, some are just hanging out with friends, and others prefer it to a home cooked meal. Whatever the reason, it’s an expensive habit and getting more expensive each year. Most money gurus will tell you to keep track of what you spend on eating out for one month so you can see how much of your monthly income you throw away, but try this instead. Stop eating out period for a whole month. Take all the money you would normally have spent and set it aside in a lock box or other location out of the way. Not only can you see how much you would have lost, but you will have the money to put toward something you need or savings.

No Impulse Buying

We all have to shop eventually for some reason or another and whether it’s at your local superstore or online, there are always things we see that we feel we just have to have. Sometimes, we can avoid the temptation, but other times we give in to the desire and make a mistake that often forces those of us with small means to juggle our priorities. There is no way out of this except not to do it. If it’s any comfort at all, Mom and Dad will be proud and you will save money and avoid the dreaded “I told you so.”

16 Is The Legal Age To Work

Many teens are excited about the opportunity to have a job and be independent. For many households, this is quite a change to get used to, but can be a blessing in disguise in a great many ways. One of them is extra income. Granted, your young person may only bring in a minimum wage income, but this is a perfect time to teach him/her how to make and balance a budget. Have them pay a small portion of the bills in the house, mainly rent and utilities. This not only helps you get ahead, but prepares them to be on their own. Dad would have just said it this way. “Get a job!”

A lot of things in life are more simple than we make them. The decisions that need to be made are not always pleasing, but necessary in the end. Refer to these tips whenever you get ready to save.

Posted in: Money Saving Tips