Do you need to trim your budget this month? With Thanksgiving and Christmas just around the corner, finances can be tight this season. Here are 5 simple ideas that can save $100 or more from your budget this month.
1. Eat from your pantry
Most of us have food we bought with good intentions that is forgotten in the pantry. Scour your pantry and look for those items and meal plan using what you have. If you can eliminate one weekly grocery shop trip this month, that’s a savings of $100 or more.
2. Only buy essentials
Do you really need another shirt or new toys for the kids? Eliminate any expenditures that are not considered essential for daily living. For most people these purchases can add up easily to $100.
3. Compare insurance policies
If you haven’t compared insurance prices recently, now is the time. Call around or research new policies and see if you can save by switching. Just make sure new policy will adequately cover your insurance needs. If you find better prices for home owner, vehicle, health and life insurance, you could save hundreds every month.
4. Eat Meals at Home
Make a solid meal plan for the month, so you are not tempted to eat out. For our family of 5, just two meals at a restaurant add up to $100 extra that month.
5. No Spend Month
If you are serious and dedicated to saving money this month, consider a spending freeze. Basically, you limit any and all spending, except for items you predetermine as 100% essential. We did a no spend month a few years ago and saved over $700. We did agree to buy dairy products, produce, diapers and toilet paper (if we ran out.) Any other purchase was a big no. That month was very challenging, but I’m so glad we did it. It was a complete budget reset for us and the extra money was nice to add to our savings for emergencies.
Please leave a comment and share more ideas to save $100!