10 Small Money Moves That Will Make a Big Difference
By Allison Martin | MoneyTalksNews | 04/02/14
How much time do you spend on your finances each week? A couple of hours? Or do you rarely spend any time at all?
Many shy away from what appears to be a daunting task for a number of reasons, including fear, time constraints and, in some cases, laziness.
Regardless of which excuse, if any, applies to you, one thing’s for certain: Choosing to be involved can save you a ton of time, money and headaches in the long run.
I’ve heard over and over that if you take care of your money, it’ll take care of you. Unfortunately, the saying goes both ways. If you refuse to get your financial house in order, there’s a strong chance that it may eventually come crashing down. Don’t believe me? Just think about those individuals who were once wealthy, but lost it all.
1. Modify your spending habits
This one is a no-brainer, but you’d be surprised how many individuals complain about not having enough money to make ends meet, yet refuse to cut back on variable expenses. Can’t think of anything to cut back on? How about those quick runs to the nearest fast-food joint, frequent movie nights, daily trips to Starbucks or cable upgrades, just to name a few?
You can also improve your spending habits by shopping smarter. Here are a few suggestions to get you started:
- Buy secondhand. Craigslist and garage sales are my best friends when I’m searching for big-ticket items because I simply refuse to pay full price. In fact, I’ve saved over 50 percent in some instances on items that would have easily cost more than $1,000 in the store.
- Bargain shop. You can also reduce your spending drastically by avoiding full-priced items in the store. I can’t remember the last time I paid retail for a piece of clothing; the clearance rack is my best friend. This may seem difficult initially, but the best way to avoid temptation is to embed in your brain the following: “If it’s not on sale or clearance, I’m not buying it.” Sounds corny, but it works!
- Never pay full price. As I said before, avoid the regular-priced racks altogether. Also, check online for promotional offers and check the store policies to see if they allow price matching. (You may have to dig deep because some retailers don’t openly advertise their policy.)