Keeping with the format in my first savings post, I’m not going to go into specific ways to cut down on your expenses, but rather a few principal guidelines to follow. Follow these and you’re sure to find success. Keep on the lookout for future posts that will be chock full of specifics.
- Make a Budget – and stick to it. Make your budget realistic and don’t deviate. If something isn’t in your budget, don’t purchase it.
- Think Outside of the Box – creative ways to reduce spending are all around you, find them.
- Practice Patience – and avoid impulse purchases. If there is an item you want to purchase track it for a few weeks or months to find the best deal available. The larger the purchase the more research you should do.
- Negotiate – especially in these times of recession. Everything is negotiable, don’t accept sticker price.
- Do Without – This one is tough to handle at times, but, if you’re trying to meet goals, ask yourself if you really need something before purchasing it.