We have all been there, changing our budgets to make up for expenses that were planned (or unplanned). After you cut all the expenses you can, what else can you do? Where can I save more money? I have made a list of my top budget savers. Hopefully some of these will help you.
What? Really? Yes! If you have been with your car insurance provider for more than a year or two, it is time to shop around. You have seen the commercials, “switch to our car insurance and save money!” It is very true.
Switching car insurance can free up more cash. Some insurance companies even send you a check the difference after you switch.
Bonus Tip: Increasing your deductible can also lower your car insurance expense. But before you opt for the $1000 deductible, make sure you have the money in your savings to cover it.
Total Saved: Estimated $400 per year
If you don’t meal plan, YOU NEED TO START…NOW! Making multiple trips to the grocery store each week is not good for your budget. People tend to spend more money grocer shopping without a meal plan than those who have a meal plan.
Bonus tip: Don’t go grocery shopping hungry. I am often guilty of this. By the time I get to the checkout line, I have at least 2 bags of chips, 3 candy bars, and a pack of cookies. All things I do not need.
Total Saved: Estimated $50-$75 per month
For more ways to cut the grocery bill, see 3 Simple Ways to Cut Your Grocery Bill.
I know you may hear this all the time as quick cash remedy, but it is worth mentioning again. If you have items that you don’t need, haven’t worn or used in 3 months, or you just don’t absolutely love it…sell it. There are many websites that make it easy to sell things such as Craigslist and Ebay. You can always hold a garage sale to get rid of things quickly.
Bonus Tip: Sell your old technology! The old cell phone sitting in the drawer, that one, sell it. Believe it or not, old technology still sells.
Total Earned: $25-$100
Stop Paying ATM Fees
Each stop to the ATM could cost an average of $3. The average person goes to the ATM 7 times per month! Stop giving the bank free money. If you need cash, get cash back at the store or stop at your bank’s ATM for free options.
Total Saved: $21
Unclaimed property, which is often called abandoned money, refers to companies that have accounts with a credit balance and need to return the money to the account holder. These funds can be credits from service providers, insurance refunds, or any overpaid account. The average claim amount is $892!
I, unfortunately, did not have any unclaimed property but my dad had $152 from his old cable provider. If you are interested in seeing if you have any unclaimed property, visit unclaimed.org or missingmoney.com.
Total Earned: None for me, but maybe a lot for you.
Did you know the average household has $205 of un-redeemed gift cards or points? Now is the time to use them! If you cannot redeem a gift card, sell it. There are many sites that will buy back unused gift cards.
Total Saved: $205
Since you are working on your budget, don’t forget to download the free budget worksheet.
Happy Budget Planning!