101 Ways To Stop The Money Leak

Tips 21- Tips 40

21. Financial Consulting

Many financial companies and even churches offer outstanding classes on how to manage money. While some of these programs are free, others may have a nominal fee of around $35 to attend but the money is well spent.
Another great option is consumer counseling services. This is a great option for people in over their head with debt. The counselors will work directly with your creditors to lower your balances, interest rate, and establish workable payments that you can afford.


22. Break old Habits

Take time to learn the various things that “trigger” your spending.

When you are depressed, lonely, sad, anxious, excited, whatever it may be, do you spend more?

Once you can identify these triggers then you can learn how to control them. As an example, if you were just laid off from your job, although money is tight, you may have an overwhelming “need” to spend money.

Perhaps you notice that when you are bored, you head for the shops. Knowing what affects you will help you to discipline yourself to find other ways of comfort.


23. Avoid Temptations

If you have a particular weakness, stay away from it. If you love to gamble, stay out of the casinos. If you have a weakness for shoes, drive past your favorite shoe store. While avoiding temptation is hard, it is also necessary in order to save money. When you want to give into your temptation, this is the time to use your “allowance”.


24. The Right Time to Shop

Studies have proven that when shopping while hungry, depressed, tired, and stressed, you buy more. Before you head to the grocery store, eat something. If you are upset or feeling a little blue, calm yourself down or wait until you feel better before you head out to shop. As funny as it may sound, having a clear mind is important when it comes to shopping and spending money.


25. Make your Own Gifts

If you ask people if they prefer a store bought or handmade gift, the majority would choose the latter. Handmade gifts are individualized and come from the heart.

When you have a birthday, anniversary, baby shower, wedding, or Christmas gift to give, make the gift. For Christmas, you could make a beautiful ornament or door wreath, for a baby shower you could purchase an inexpensive bib pattern and make special bibs, or for a wedding, you could create a wonderful album of photos showing the couples dating life.

Other great options include making homemade hot chocolate, soaps, candles, or lotions and placing them in inexpensive glass containers or baskets purchased at a thrift shop. If you use a mason jar, add foam and fabric under the lid for added color, use a label to write the contents and a message of endearment, and wrap a nice piece of ribbon around the ridge. The options are endless, so get creative.


26. Barter System

Gather friends, family, neighbors, and co-workers and set up a bartering system. Offer to babysit to one family in exchange for them mowing your lawn or offer to clean someone’s house in exchange for a week of car-pooling your child to school. You would be amazed at the opportunities and the money that can be saved using a bartering system.


27. Matinee

Do you love the movies but hate the prices?

Switch your nighttime show to the late afternoon or early evening matinee. The price is about 50% less and when taking an entire family, that is a nice saving.

Pop your own popcorn, put in a plastic bag, and place in a large purse and make or buy your own candy, leaving only drinks to buy.

Food at the theater is outrageously priced.

The next time that you head to the movies, hit the matinee, stuff those jelly beans and licorice sticks in your purse, and enjoy the savings. Also, check for movie tickets online, which can be discounted.


28. Comparison Shop

Comparison-shopping can make a big difference in the price you pay. You might be looking at a barbecue grill at one place for $350.00 and by making two more stops, find the exact grill or one comparable for $300. In addition, consider the price of items assembled versus unassembled. For example, you might find the barbecue grill unassembled for $250. A couple of hours of “fun” assembling the grill is certainly worth a $100 saving.


29. Stop Competing with the Jones’

You do not have to compete with anyone. Be proud of what you have and who you are. If you can only afford an inexpensive sofa from a thrift store, find a nice throw, make a few pillows, and be proud and thankful.

Competitiveness is a part of nature and to a degree, healthy.

However, when competition creates a buying war to see who can have the “best” when they have no business buying at all, then it becomes damaging. Stick to what you can afford regardless of what anyone else has or pressure you might be feeling.


30. Sales Clerk Compliments

Sales clerks are often paid on commission. Therefore, when you walk into a store and try on an expensive suit, you can be guaranteed you will hear several times over how wonderful you look, how great that suit fits you, etc.

Because this is how the clerks make their money, they will say whatever it takes to make the sale. You probably do look good but do not allow yourself to be pressured into buying something beyond your means.
Know what you want, the price range you can work with, and stick with your own rules, not theirs.


31. Incentives – Reward Plan

To help you and your family spend more wisely, set up a system where rewards are given when the rules set forth are followed.

For example, if a family decision was made to start making lunch and brown bagging it to work and school instead of paying each day, the incentive might be that if this is followed strictly for one month, the entire family can spend a Saturday at the Zoo or favorite theme park.


32. Dollar Stores

Many years ago, dollar stores offered only off brand products or poorly made merchandise. However, that has completely changed. Now you can walk into a dollar store and find the same name brand laundry soap, cleaning supplies, clothing, school supplies, everything for a fraction of the cost. Where a store name brand bottle of laundry detergent might cost $6.50 at a grocery store, you can find the identical product and size at the dollar store for $2.50.
Check out your local dollar store and enjoy the mountains of savings.


33. Don’t Give up the Good Stuff

A misconception is that while trying to save money you have to deal with sub-par merchandise, which is untrue. If you love fresh bread and pastries, visit a bakery thrift store. For your fresh fruits and vegetables, visit your local farmer’s market. Try eBay or other auction sites to buy top quality merchandise for a huge discount. Watch for neighborhood garage sales or estate sales and auctions to find items you need. Just because you are looking for bargains as a way of saving money does not mean you have to skimp on quality.


34. Utilities

Set up some rules in your homes such as turning lights off when leaving the room, having only a parent adjust the air or heat, leaving the doors or windows open when letting either cold or hot air into the house. Utilities are expensive and a great money saver is to monitor how they are used in your home. Another great idea is the investment of buying an energy-efficient hot water heater. If you cannot afford one, lower the setting so you are not heating water so hot. The hotter the setting, the more energy used.


35. Check the Garbage

One woman had her teenage daughter clean her room. The daughter proudly did just that, filling two huge trash bags of things she no longer wanted. Out of curiosity, the mother peeked into one of the bags to see what was being thrown away. In shock, she found a new tube of suntan lotion, two perfectly good sweaters, makeup, lotion, a picture frame, hair curlers, all good things. The daughter did not realize that just because the items were of no interest to her, they might be to someone else. After talking to her daughter, the mom turned around and listed the items on eBay, making a $35 profit on her daughter’s “junk.”


36. Written Plan

When a person goes into business, they create a Business Plan, which becomes the blueprint for their business. The same should apply if you are trying to save money. Create a master plan that the entire family can get involved with and learn their role. When you start to spend too much, go back and look at your plan to see where you are messing up and how you can fix it.


37. Attitude

Good money management is an acquired skill. As you go forward with the process of saving money, you need to have a good, positive attitude, which is often what will keep you and your family heading in the right direction. If you think you cannot save, then you probably will not. Be determined and stay positive about saving.


38. Unsecured Creditors

Make a list of all your unsecured debts along with creditor contact information and payoff amount so you can have an accurate record of how much you owe. Choose one creditor, possibly a credit card, and focus on paying off that bill. Once you have achieved that goal, choose another. Start with the debt that has the highest interest rate since it is the one costing you the most money.


39. Off-Season

The next time you plan a vacation, consider off-season. Generally, the prices for airfare, hotel, and cars are substantially lower than traveling during peak time. If you look at all your options, you will find that in many cases, you can come close to the date you would like to travel. As an example, flying to Hawaii through June 8 is considered off-season while June 9 is the peak. One day makes a huge difference in price.


40. Buy versus Rent or Lease

When looking at homes or automobiles check the rent and lease options. Depending on your particular situation, renting or leasing may be a better financial decision. Weigh all your options and see which choice makes the best sense from a financial standpoint.

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