Kiplinger’s Personal Finance is featuring three stories of people who have put their cost-cutting plans into action and save a combined $17,860 annually.
The super savers are families and an individual who cut costs in different areas of their lives by being persistent with new spending habits and also learning to budget accurately and with money-saving in mind. Their plans show the value in planning finances and knowing your limits before actually spending money.
Dunshee drew up a budget of everything she buys, then tried to cut each expense by 10% to 20%. That exercise, she says, “really causes you to get creative.”
Dunshee saved $460 per year by dropping her land line and using only her cell phone. She and her extended family saved $700 by consolidating their cell-phone bills with a family plan.
Coupons from grocery circulars and Web sites, such as Smart Source and Red Plum, cut Dunshee”s expenses by about $100 each month. She takes advantage of double- and triple-coupon offers, and tracks down coupon codes for online retailers. Using a credit card with rewards points saved her $200 on Christmas gifts. A programmable thermostat saved another $100.
Their ideas are definitely worth looking at. Even if you don’t end up saving $50 a day, putting some extra money in the bank is always worth some effort.
