Live Healthy Live Well

Could you use a little more money? Perhaps, you spent too much over the holidays or your spouse has been impacted by a work shutdown..? Did your teen just wreck the family car? For a variety of reasons, many of us find budgets tight this time of year and we need to find ways to cut expenses.  Here are a few saving tips:

• Save windfalls – don’t spend them on bonus things. Deposit them in the bank or put them towards a bill. (Did you get cash from a family member for your birthday? Get a bonus or work overtime? Win the 50/50 at the school ball game? Don’t spend it with nothing to show for it.)
• Cut food-shopping costs – be sure to use regular or online coupons, purchase store-brands, get rain checks, and watch the prices at the checkout. (Also, try to shop alone since each additional person adds things to the cart.)
• Save your loose change – put all change in a jar and save it towards vacation or deposit it every few weeks.
• Use the 24 hour rule – think about a purchase for 24 hours (or over-night) before hitting submit on the shopping cart (for online) or buying unnecessary items. Of course, this doesn’t mean you should wait to buy medication, but do you need that cute top or those boots that were marked down?
• Unsubscribe to marketing emails – just hit unsubscribe at the bottom of the email and cut out temptation. You can always add yourself back when your budget is stronger.
• Take credit cards out of your wallet – put them in the freezer or your desk, so it is inconvenient and you have to plan to use them.
• Make a big deal out of a stay home family or friend night – cook at home (taco bar, homemade pizza, breakfast for supper), play games, eat popcorn, or watch a family/comedy together instead of everyone running off to their own rooms.
• Sell things you don’t need – clothes you don’t wear anymore, sports equipment, tools, collectibles, toys, or baseball cards. Make sure the items you sell are your own of course. Resale shops or social media buy/sell sections both are options.
• Drink water or iced tea – stop buying disposable water in bottles, use refillable ones and make your own iced tea or coffee. You can save hundreds each year.
• Don’t buy snacks from machines – measure your own pretzels, nuts, or fruit in a small container rather than paying vending markup. Bonus: you control what’s in your snack.
• Take leftovers for lunch – even doing this a couple times could save $15 or $20 a week.
• Cut utility costs – make sure you are using a low-flow showerhead, turn off appliances and lights, unplug charged devices, and lower your water heater to 120 degrees.
• Eliminate plastic – don’t use disposable plates, plastic forks/spoons, or plastic storage bags. While you may have to do a few more dishes, you help the environment and cut an expense.

Almost everyone has a way that they have found to save money or something they can sell to add a little extra income – feel free to share your favorite in the comments. For additional information go the Personal Finance section of eXtension.

Writer: Lisa Barlage, Extension Educator, Family and Consumer Sciences, Ohio State University Extension, Ross County.

Reviewer: Misty Harmon, Extension Educator, Family and Consumer Sciences, Ohio State University Extension, Perry County.

Sources:

America Saves: https://americasaves.org/for-savers/make-a-plan-how-to-save-money/54-ways-to-save-money

North Carolina State Extension, Take Control of Your Future, https://content.ces.ncsu.edu/ideas-to-help-you-save-money-at-home.

eXtension: https://articles.extension.org/pages/16136/stretching-your-food-dollar