Reducing Expenses to Achieve Your Goals

September 8th, 2011

Each family has its own unique goals, whether it is taking annual trips to Disney, fully funding the kids’ college funds, or paying off the mortgage before retirement. All of these goals have one thing in common–the need for extra money, above and beyond what is required for the daily household budget. One of the fastest ways to be able fund your goals is to rework your budget and see what can be trimmed. Here are five ways to squeeze money from your budget without sacrifice.

Become Coupon Masters: This could become a fun family activity and one that has an unobtrusive educational aspect. Start clipping coupons for your favorite foods, pet supplies, and personal care items. Then check sales flyers to see which items are on sale and pair the sale with a coupon for extra savings. Another option is to switch to generic brands whenever you can.

Limit Meals Out: Eating out is a huge budget buster for many families, so choose one night a week to eat out and get some quality time together as a family. Don’t forget to use coupons!

Eat Healthier: While many people complain that eating healthier is more expensive, cutting out all beverages except water can have huge financial and health benefits. Buy fruits and vegetables from local farmers or stock up when stores have them on sale. Over time you’ll also find that your family is healthier and spending less in doctor co-pays.

Become Mr. or Mrs. Fix-it: When a minor home repair needs to be done, head to the library for some repair books or ask for help from a knowledgeable friend to save big.

Spread Out Your Haircuts: With very few exceptions, most people don’t need to visit the beauty salon as often as stylists recommend. Add an extra two to three weeks between appointments and you’ll need fewer haircuts each year.

Experiment to see what works best for your family so that you can meet your financial goals faster.

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