Financial Tips Close to Home

While it’s my job to get folks out of financial difficulty, I’m in a position to provide tips designed to help you develop power over your finances—to perhaps avoid bankruptcy!

This power is what will motivate you to develop the good habits that will keep you out of financial trouble. Now, these may be small steps. But do not be discouraged—the small steps can lead to substantial savings, especially if you make them a habit.

I think you’ll see results in a week or two—stay on track.
In our quest to save money we often focus on the larger items—credit card and car payments, home mortgages, student loans. But there is a lot to be saved on ordinary everyday expenses.

A few small adjustments to your life can help you save big money. The good news is that you’re in complete control of how much or how little you actually do. But any steps you take can affect your bottom-line. And like anything else, having a game plan before you start can make a big difference in the outcome.

Let’s start with your shopping bill.

When you shop, always work off of a shopping list. That way you’ll get what you need and not all those little extras that can really add up. And don’t hesitate to clip coupons from the Sunday paper. There are even websites where you can print coupons for free. You’ll save even more if you find a grocer that doubles coupons.

Coupons can easily save your family $15 or $20 a week. And many times store will align their sales with coupons in the paper, saving you even more. So scan your local circulars.
We all like to treat ourselves once in a while, but those vente soy lattes and Frappuccino’s can really mount up. Why not buy some gourmet coffee by the pound—say Peets or Starbucks–and make your own coffee drinks at home? Did you know that by cutting out the designer drinks you can save $400 or 500/year?

And speaking of home brewing, how about home cooking? Cutting down on take-out and restaurant meals can make a dib difference. So dust off those cookbooks since cooking at home can save you hundreds of dollars a year, especially when you consider that the average family spends half of its food budget on meals away from home.

Now these tips are just the tip of the savings iceberg. What are some savings tips that are not quite so obvious?

It seems everyone has cable these days. But the cost just seems to go up and up. The average cable bill is between $80 and $120/month. Now, imagine having an extra $1200 each year in your pocket. You can still get all the entertainment you want without shelling out that kind of cash—just on the internet. You really don’t need cable at all.

You can watch many of your favorite shows for free online, or you can rent movies from a service like Netflix or Amazon Prime for under $13/mo. If you absolutely cannot live without cable, try bundling it with your internet service and cell phone.

And while you’re at it, give some thought about whether you still need a land line—you can save $25 to $50/mo. by giving it up. If you have your cell, it’s redundant and expensive to keep that landline. How much are you really using it?

But the phone savings should not stop there. Take a look at your cell phone—data and texting plans can cost plenty. So take a close look at your bill. How much you’re using those plans? If you can manage on a smaller plan—change it. You can save big over the course of a year.

Another home utility that seems always to go up is the PG& E bill. I see commonly see folks with bills of $200 and even $300 a month. Drop down to your local hardware store and buy a programmable thermostat—they can cost as little as $25. They’re easy to install can save significantly on your heating bill by lowering the temperature automatically when you’re away or asleep.
Folks, gaining power over your finances is a series of these small steps.

But those first small steps can be difficult–because we can’t solve all our financial problems at once, we often discourage ourselves from even trying. I’m here to encourage you to take those small steps, and to create those good habits, that can make real changes in your life

But if you find yourself in a difficult financial situation, please call me at 831-424-1764 for a free consultation, with no obligation. I wish you all the best.