Lifestyle Fashion

10 ways to save money and get rid of debt

Are you sick of living from paycheck to paycheck? Do you find that you spend as much or more than you earn? If the answer to any of these questions is a resounding yes, there is something you can do about it. All you have to do is remove some of the items that cost you a small fortune annually:

Impulse purchases

Impulse purchases can cost you thousands of dollars each year. Often times, these purchases are unnecessary at best. If you are struggling to save money, you need to eliminate impulse purchases and clearly separate your “needs” vs. your wishes”.

The telephones

Mobile phones, mobile phones, landlines … how many phones does a person need? The answer is one. If you have more than that, you should ditch the extras. If you only have one phone, but find that costs are getting out of control anyway, try limiting the calls that are made, or better yet, switch to a prepaid plan.

Expensive vehicles

While pickup trucks and other gas-guzzling vehicles may be all the rage in your neighborhood, they are impractical given rising fuel costs. You’ll be much better off with a fuel-efficient vehicle that can get you from point A to point B without breaking the bank.

Full price grocery items

Clipping coupons can lower your grocery bill and save you a lot of money annually. You can get coupons from weekly circulars and from various web sites. You can also benefit from savings clubs or store memberships.

Brand names

When you buy a brand name product, part of the cost you pay is associated with the name. If you buy generic or store brand drugs, you can still get a quality product, while saving your hard-earned money.

Eat out

Whether it’s breakfast, lunch, or dinner, eating out frequently can cost you a penny. If you want to save money, you should reserve dining out for special occasions.

Weekly entertainment

While weekly entertainment gives you a chance to relax, it can also be very expensive. Instead of going out at night, try entertaining yourself at home, renting a movie, or reading a book. If you feel like going out, look for inexpensive ways to have fun, like free concerts, matinees, or outdoor festivals.

Bad clothes

Bad clothes can be expensive. If you have a bad habit, get rid of it immediately. You’ll be amazed at how much you’ll save if you can quit smoking, drinking, gambling, or expensive lattes.

Incorrect invoices

We all make mistakes. Utilities, department stores, doctor’s offices, and restaurants are no exception. Before paying any invoice, you should check it for errors. You may be surprised at how much money you can save.

Your mortgage

If you want to keep your home, you must make your mortgage payments. However, there is no reason for you to pay high interest if you don’t have to. By refinancing your mortgage, you could save money every month.

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