How eager are you to save money?
Sell your car. Take the bus train, walk or ride a bike; this is easier if you live in the city. Doing so will eliminate loan or lease payments, gas, registration, insurance, maintenance and repair costs. Jeff Yeager, author of “The Cheapskate Next Door,” estimates that the savings is probably close to $10,000 a year. That’s a lot of loot.
Take in a boarder. I know, sharing your personal space is hard to stomach…but it will help cut down your monthly payment and towards monthly utility bills (even if you do it for a short while). *Be sure to draft rental terms.
Downsize. This is tough right now, especially if you are a homeowner. If you rent, however, downsize by a bedroom. This will slash your rent and spending (less room to stash purchases).
Cut up credit cards. Use cash only. This will force you to think twice. This is the first thing I do when I need to slow down on my spending. When I know it’s coming right out my account, I’m much pickier about my purchases.
Go generic. Store brand is cheaper.
Cut Coupons. So many ways to save with the help of savvy bloggers who scout out the best deals, coupons, bogo’s and share with the masses. It’s almost a game to me now.
Told you these would be extreme. Just imagine if you adopt them for 6 months how much money you could save or a debt you could pay off. if you know of another extreme ways to save major bucks, please share. If you’d like me to research another topic related to saving, please ask. Happy saving!
