Monday, November 7, 2011

Small Changes For Big Savings

Many families dream of attaining financial freedom, but are intimidated by having to make drastic changes to their lifestyle. Simply trimming the expenses on day to day needs and putting the excess money aside to pay down or eliminate debts can be a tremendous help in achieving your financial goals. Although there are many ways to save, here are 5 common expenses and the simple steps to take that add up to major savings:

1.Use coupons to reduce your grocery bill. Coupons can be found everywhere from your local Sunday paper to printable coupons on the internet. While using paper coupons will drop your grocery expenses considerably, some consumers become overwhelmed in trying to organize and keep track of them all. One alternative is using e-coupons through sites like Load the e-coupons onto your store's loyalty card. Scan the card at checkout and, instead of having the e-coupons take money off your transaction, the money saved goes into your savingstar account. Once you have saved $5, you have the option to request a payout via bank deposit, PayPal, Amazon gift card or as a donation to American Forests. The money accumulated by using e-coupons is out of sight, out of mind and able to make its way directly into your savings account.

2.Save on your car insurance by bundling an auto policy with the policy for your home. Many major insurance companies like State Farm and Progressive offer sizable discounts for combining policies. The amount of potential savings varies depending on your driving habits and the value of your home.

3.Brown bag it. If you work outside the home, consider packing a lunch 1 or 2 times a week. With an average lunch costing upwards of $7, packing a lunch from home just 1 day a week will save you over $350 in the course of a year. Practice fiscal responsibility by using the extra cash to pay down credit cards or start and emergency fund to cover unexpected expenses that would otherwise end up on the charge card.

4.Fuel savings may seem few and far between as the price of gas is increasingly on the rise. Carpooling is a savvy, and eco-friendly, way to lessen the burden of pricey gasoline while still being able to get where you need to go.

5.If you find yourself shopping online, visit a cash back site first. When you make a purchase after being routed from a cash back site, a percentage of the purchase amount is deposited into your cash back account. Many cash back sites like and also provide coupon codes to use upon checkout. This is a great way to spend less on everything from diapers to printer ink while saving money simultaneously.

Financial freedom is as straightforward as making simple behavioral changes that add up to major savings successes. What is your game plan for saving on day to day expenses?

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