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Harris-Courage & Grady, PLLC March 14, 2017

Saving money doesn’t need to be painful.

In our bankruptcy practice, we see many individuals without adequate emergency savings or retirement savings. Just a little sacrifice in can lead to more money in your bank account.

Save money each month by cutting your expenses in these areas:

  1. Gym membership. How often do you really use your gym? If you pay $30/month and only use it three times a month, you’re paying $10/visit. Instead, try using your running shoes, a jump rope, and some second-hand dumbbells—you’ll likely get the same results.

  2. Taking a family of four to a movie can cost over $40, and that doesn’t include the expensive snacks. For a cheaper option, try a streaming service will only set you back $10/month, and you can watch all the movies you can fit into your schedule. Want to spend no money at all? Get the movies and shows you want to watch from your local library.

  3. If you have overwhelming debt that feels like it won’t go away, bankruptcy can be a great option. It costs significantly less than repaying all of your debts in full. Plus, it can eliminate your debts and debt payments in as little as four months. Call our office to see if bankruptcy might be a good option for you.

  4. Public transportation is often less expensive than driving, especially if you normally pay for parking. If public transportation won’t work for you, try carpooling. Each day you share with another person will save you roughly 20% on your gas expense. Add another person into the rotation and you’ll save 40%

  5. Adjusting your thermostat by just one degree will lower your energy bill by 3%. Lowering your thermostat by three degrees in the winter and raising it three degrees in the summer will save nearly 10%! Dress more warmly in the winter and wear lighter clothes in the summer. You’ll hardly notice the difference.

  6. Coffee, tea, juice, soda. Beverages are expensive and not very healthy. Water is healthier for your wallet and your waistline. Try reducing the beverages you buy and save the money instead.

  7. Eat at home more often. Bring your lunch to work. If you feel like you’re not a good cook, check YouTube for inspiration. There are thousands of videos online that can teach you how to make whatever you’d like to eat. You can eat restaurant quality food at home with a little practice.

  8. Prescription medication. There are many ways to save money on prescription drugs. If you’re buying a name-brand medication, try switching to a generic. You can save as much as 90%. If that’s not an option, try a new pharmacy. Remember to check prices for online pharmacies.

Look at your own budget and find other areas you could cut back or eliminate. A few, simple changes can give you big savings. Saving money doesn’t have to be painful. Look at your finances and eliminate the expenses that provide the least value to you.