~How to Save Money~Part 1~

How to Save Money in 2011: Part 1
Everyone gets excited about saving money, but then they realize that change MUST take place or the same outcome will happen. Yes, it takes determination and a plan. After all, I've never heard of anyone saying "I accidentally saved $100k". Sort of along the lines of never hearing a husband complaining about his wife saving him tons of money by using coupons! It just doesn't happen! :)

Today I'm listing just a few things that I did to insure we were able to hit our 2010 savings goal.

Steps to hit your savings goal in 2011:

Spend Less
*I realize this is not breaking news. However, if you simply spent $25 less per week at the grocery store you could save $100-$125 per month! You can easily do this by having a list and sticking to it. Try to go to the store and ONLY purchase what is on the list.
This would be a $1200-$1500 savings annually!

Budget
*Set a budget! This MUST be accurate. Take time to have a budget meeting with your spouse and discuss all purchases. I know this doesn't sound very fun and sometimes it isn't! However, being on the same page financially is one of the best ways to bless your marriage. Even though my hubs completely trusts me with our money, I still let him know about all purchases or check with him if a purchase is more than the norm. Anytime anything is needed outside of our budget, I ALWAYS speak with him and make sure we are in agreement of how we want to spend our money. To me this is more of a RESPECT thing than a budget concern.
*Stick to the budget! A budget only works if you stick to it.
*Document EVERYTHING you spend (even the little items...they add up!) Be sure to keep your receipts and keep up with your budget. If you wait until the end of the month to document things, you've probably already gone over budget and didn't even realize it!
*Budget down to $0.00 each month. This means that every dollar and every dime is accounted for. Any money left over does NOT get spent, rather it goes into SAVINGS!
*Keep the lines of communication open with your spouse. There may be mistakes, but talk about them and try to figure out a plan to avoid the same mistake again.

Don't Go There!
*If you have issues with spending money and buying things you don't need every time you enter the mall, Target, TJMax, etc...DON'T GO THERE!
This is a 100% effective way of not overspending :) So many people I talk with say they can't walk out of a certain store without spending $20-$50. However, if they never enter the store, it can be done!

Hope this helped someone today! I promise, you can do it! You can save money (even if you never have before). Many more parts to the "How to Save Money" series coming soon!

Tuesday Blessings~
SHO