Did you know that the average American family, according to Statistics Brain, has $3,800 in savings? Yet, the average amount need for retirement is $35,000! Not only that, but only an estimated 38% of Americans, according to Statistic Brain, have an emergency fund to fall back on! No doubt, these economic times are tough. Saving money is harder than ever, as evidenced, and so too is getting a loan. In fact, an estimated 32% of home loan applicants in the U.S. were rejected last year for credit related reasons.
The fact of the matter is that everyone could use some easy money saving tips. The first step towards a more financially secure future is to plan finances one week at a time, so as to see exactly how much you’re spending compared to what you’re earning, creating simple family budgets. Once that’s done, you can start taking more steps to meet your financial goals. To help you meet your budget aspirations, here are some easy money saving tips to help!
Less TV.
Turning off your TV can obviously help cut your electric bill, but there are tons of other advantages as well. According to The Simple Dollar, a financial advice site with many easy money saving tips, some of these benefits are: “less exposure to guilt-inducing ads, more time to focus on other things in life, less electrical use, and so on.” In fact, you might even be able to do away with cable entirely. Many college kids get by without cable, and have found inventive ways to catch up on their favorite shows.
Buy Used.
Many people forget about these thrifty easy money saving tips, but buying anything used is always cheaper. This applies to everything from cars to clothes. It’s best to try and make do with what you have, but if your hands are tied and you need to buy something, it’s best to try to find it used.
Turn Down the Heat.
This one amongst a plethora of common sense easy money saving tips, but it’s also easy to forget. We get comfortable having to only wear a t-shirt around the house, but turning down the thermometer and putting a sweater on can save a bundle. The average home temperature should be about 68 degrees, and once you’re used to that, you can set it lower. According to the U.S. Department of Energy, each degree can shave off about one percent to three percent off your energy bill.
Some of these are more common sense easy money saving tips, but nonetheless, they work. If you have any questions about these easy money savings tips, or any easy money saving tips or money saving advice of your own to suggest, feel free to leave them in the comments.