| Most families are spending more and more money | | | | electronic bill-paying. Electronic bill-paying and a debit |
| every year (and not just because the cost of living | | | | card can cut down on your need to use checks and |
| rose) while also saving less and less. One reason is | | | | postage which will save you in the long run as well as |
| that few household managers spend much time | | | | help you better manage payments so you will avoid |
| reviewing expenses and expenditures to find ways | | | | fees, penalties, and higher interest rates. |
| they can save money. However almost every family | | | | Cutting your credit card costs can be another major |
| has places where costs can be cut and pennies can | | | | savings. This means making sure you are using the |
| be pinched -- and if those freed up funds are then | | | | best possible credit card with a low interest rate and |
| used to pay down debt and save for the future it | | | | low or no annual fee. Shop around until you find your |
| could have a dramatic impact on their quality of life. | | | | perfect match and don't forget to cancel and cut up |
| Food is one big area where many families could be | | | | those rejected suitors. |
| more thrifty. Families spend an average of $2,434 on | | | | Health care is not really an area where you can cut |
| food away from home, according to the Consumer | | | | expenses but you can save money by taking |
| Expenditure Survey from the U.S. Bureau of Labor | | | | advantage of special offers and programs. For |
| Statistics. If you (and your spouse and your children) | | | | example, many employers offer a Flexible Spending |
| eat lunch out every day of the week then try | | | | Account where you can save money before taxes |
| brown-bagging at least one of those days. If just | | | | for out-of-pocket medical expenses for prescription |
| one of you does it you may save up to $400 a year | | | | and nonprescription drugs, dental expenses, and eye |
| and if you can double or triple that savings you could | | | | care. |
| finance a family vacation with it. | | | | Tuning up your insurance policies can also help you |
| Another major expense is your home. When was the | | | | save money. When did you last compare rates for |
| last time you looked at refinancing? Can you find a | | | | your home, your vehicles, and yourself? Some other |
| lower interest rate? Can you renegotiate to a shorter | | | | ways to cut costs are to raise your deductible level |
| time frame? Even if you can't change your mortgage | | | | or using the same company for multiple coverage |
| payment you may be able to pay a bit extra each | | | | (your home and vehicles). When you are shopping |
| month which over time will help pay down your | | | | around make sure to give your current company a |
| mortgage faster. Also, don't overlook your utilities. | | | | shot at keeping you. Sometimes they can offer a |
| There are ways to save in this area as well including | | | | better rate too. |
| updating your insulation and weather stripping, | | | | Another major expense for many families is the cost |
| keeping up-to-date with maintenance and cleaning of | | | | of communication including local and long distance |
| your furnace and air conditioner or using a | | | | phone service, cell phones, cable or satellite television, |
| programmable thermostat to take advantage of | | | | and Internet access. Review your expenditures and |
| those times when your house is empty or the family | | | | cut out the services you don't need. Can some of |
| is asleep. | | | | these expenses be bundled to save money? Are |
| Transportation is another major expense for many | | | | there better plans for your needs? |
| families. Not only are vehicles expensive to buy but | | | | When looking to save money it is important to |
| also to maintain and operate especially with gasoline | | | | become an aggressive shopper. The Internet makes |
| prices at such high levels. Is carpooling an option for | | | | it possible today to compare prices and product |
| any members of the family on at least a part-time | | | | reviews while not spending a lot of time and money |
| basis? Make sure to combine errands and trips to cut | | | | driving from store to store. Any big ticket item (and |
| down on your travel and save money when buying | | | | that includes your weekly groceries, cleaning products |
| gasoline by taking advantage of special programs and | | | | and health and beauty aids) deserves a closer study. |
| discounts and remaining vigilant about gas prices. In | | | | Over the next, month take time to review your |
| addition, following a regular maintenance schedule and | | | | family expenses and expenditures in each of these |
| proper tire inflation can also help you achieve | | | | nine areas. Making a few alterations in your family's |
| maximum gas mileage for your vehicle. | | | | spending habits will soon make a difference in the |
| Choosing your bank wisely can be another way to | | | | overall household budget. You can raise your family's |
| save money. Make sure the bank you use offers | | | | quality of life by making just a few changes in your |
| free (or at least low cost) checking as well as | | | | monthly budget. |