A quick little “fret-free fiscal formula” was nestled in my April 2013 issue of Better Homes & Gardens! I love these little financial tidbits that consumer saving experts like Andrea Woroch shares with us. Her simple three-point strategy for money management allows all of us consumers to rethink our own money habits as we stay on budget in 2013:
STOP buying on impulse. “Shop with a list & stick to it,” says Woroch, who also suggest using a handbasket instead of a shopping cart. “It will get heavy if you fill it with too much stuff, which will alert you to unnecessary items you’ve picked up along the way,” she says.
DROP paper bills & bank statements. Setting up automatic payments to your lenders will eliminate late fees. In addition, Woroch points out that consumers who opt for auto-pay or paperless billing “may be eligible for rebates, special promotions, or discounts.”
ROLL away nonessential expenditures. “Consider cutting back on luxuries such as household cleaning services, gardening, and regular car washes,” Woroch says. “The dollars saved will allow extra wiggle room in your budget, help pay down debt, and build your emergency fund.”
When I (Litsa) think through my own consumer purchases, I quickly envision myself adding items to my shopping basket when a good deal arises! IF you (like me) MUST have that item on sale, make sure you can justify it by paying cash for it. Using Dave Ramsey’s envelope system for ‘good deal’ purchases will keep you honest when spending your designated cash dollars—–or will remind you that the extra five to ten dollars might be better spent paying down debt and/or buying milk and bread to stretch the grocery budget out a few more days as you consume what’s in the pantry.
Each family has their own money matters that challenge us but how each penny is saved and/or spent matters. Making wise decisions with our money makes for a fret-free fiscal year with our spouse and child(ren)!
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