Hi everyone and thank you for coming back to read my column. I cannot express to you how much I appreciate your support in my personal financial journalism. With that said, this week, I left the topic of discussion up to you! On Monday, I posted a note on facebook and Google+ with 3 different topic ideas for this weeks column and asked my friends and family to vote on what I should write next. All of them scored pretty well so, I’ve decided to write them all over the next several weeks. In a comment, my Mom rated “Simple ways to reduce your household expenses!” as the best topic. Since I’m writing for Moms, who better to take advice from! Also, she asked me to write about setting up a budget that you can actually live with so, that’s next. All that being said, without any further jib jab about facebook, Google+ and what’s soon to come, I bring to you…
Simple Ways To Reduce Your Household Expenses
Step #1 – Work With Your Debts – I know, no one wants to think about their debts, let alone look at them for hours trying to come up with a plan. However, the average American household has thousands of dollars in credit card debt. Many of these Americans pay incredibly high interest rates which, can grow to be one of the highest household expenses in their budget. With that said, a couple of months ago, I wrote a post on reducing credit card debts here on Penny Pinchin’ Mom. Get started by reading it here!
Step #2: Cook More – We all know it, eating out is expensive. Every day that you cook at home for your family, you stand to save at least $20 or $30. So, if you only go out once a week and you cut this down to twice a month, you can cut your expenses by $40 to $60 per month! That’s money that can be used to pay down debts that may be leaving your household broke.
Step #3: Visit Penny Pinchin’ Mom More – When it comes down to it, we all spend a lot of money on monthly necessities. Food, soap, paper towels, it all adds up! The good news is Penny Pinchin’ Mom offers great coupons and since I’ve been following and writing for this blog, I’ve noticed that coupons are updated often times more than once a day! So, set a time of the day that you plan to browse Penny Pinchin’ Mom for 15 to 20 minutes and search for coupons that may just save you a hundred dollars a month or so.
Step #4: Work On Your Credit Score – I know, why would credit scores be included in this article? Well, it’s a well known fact that people with good credit scores tend to pay less when it comes to living expenses. This is because they are offered lower interest rates on auto loans, home loans, credit cards and any other loan that they will ever need to pay. With that said, improving your credit could save you thousands of dollars in interest on future loans. This is another topic that I wrote on for Penny Pinchin’ Mom a while back. Learn how to build your credit scores by clicking here!
Step #5: Commit To A Shopping Day And Stick To It – Although, most moms go grocery shopping once a week, many of them also make a habit of going to the store several more times for different things that they may have left out on the weekly shopping trip. Any mom that I’ve ever met that goes to the store for a loaf of bread ends up coming out of the store with at least $20 worth of groceries. Most of which is unnecessary munchies and trinkets! Therefore, if you stick to one shopping day a week, you will force yourself to spend less on miscellaneous things that you don’t necessarily need!
There are several things that you can do to reduce your household expenses. These are honestly only the tip of the ice burg. Always keep in mind that a monthly search on Google for saving ideas will open you to great savings over time. I hope that you’ve enjoyed my article and look forward to writing again for you next Friday!
About The Author – Joshua Rodriguez