Monday, February 14, 2011

Money Saving Mondays

If you're like me you have three boys that grow like bamboo trees, and eat entire homes and villages when they get started. But, even if you are not like me and just have one or two children saving money is still on top of the list. Some common areas that seem to suck up the monthly finances can be remedied by simply paying conscious attention to where that hard earned cash is going. Some Father Faction suggestions:

  • Go throughout your month as you normally would and keep the receipt for eveything, including that Snapple you bought at the deli.

  • Evaluate those receipts at the end of the month and separate them by category (ie. bills, food, misc. etc.)

  • See which areas can be shaved down or eliminated and do so the following month (use manufacturers coupons found on their website and also store circulars for grocery bills)

  • For the following month keep envelopes with the category written on it.

  • Put the extra cash from those categories where you decreased the spending into the savings account.

  • Put a goal on the extra cash you are saving in order to make the act of saving more appealing. (ie. when you save up $3000, take $1500 and buy some gold)

You may come to find that eating out or movies and other areas that are not a necessity are the culprits. Everyone knows that as soon as you break that 20$ its gone which is why the ATM gives you $20s and not $100s; thats also why when you cash a check you ask for the majority of it in $100s. That being said break a $20 save a $5.


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