By taking my lunch to work with me, I just got a free mortgage payment. By making this change, I have cut this $1300 annual expense into a $520 annual expense–a savings of $780. I have no idea how much my brown-bag lunch costs me daily, but I am guessing that $2 would be a good estimate. If you spend $5 a day for lunch five times per week–that translates into a $1300 annual expense. These are low-cost items, but they are every day purchases. Then one day I realized, instead of saving as much as you can on these every day items, why not look into ways to eliminate them? Before long, I invested in a coffee maker and now make my morning cup of coffee, and I no longer eat out for lunch (besides special occasions), I simply brown bag it. I used to think that I was doing good by saving as much as I could when I ate out on my lunch break, when I bought coffee in the morning on the way to work, and so on. Call these companies up periodically to see if there are additional ways to save.ĭo Not Save On Everyday Purchases, Eliminate Them They want to rope you in for the long term because they know that rates are always decreasing. That is why these companies are so big on them. This is why it is so important to never sign a contract for any of these serices. TV packages are always geting cheaper, cell phone minutes plans are always coming down, as well as internet services. You need to go thorugh this process every six months or so. If you reviewed these last year, made some adjustments and saved some money–great job! However, don’t stop there. For example, your television service, cell phone, and internet plans. At least every six months, you should take a step back and review all of your monthly bills. The first time I did it, I thought that it would be a one time thing. Periodically, Take A Step Back And Review Your Finances Objectively I thought I would outline them for you below. Through a lot of learning, investigating and so forth, I uncovered many more ways to save. That statement could not be further from the truth. Well, if you had asked me a few years ago if I was saving everything I could in all things financial, I would have told you yes. I am by no means cheap, I just save everywhere that I can. Since then, I have been dedicated to saving money in my everyday life. This was all a precursor to buying my first home. Approximately three years later, I had emerged completely from all credit card debt, my parents were paid off, and I even paid off my car. I got tired of living my life the way that I did, and I made some dramatic changes. By the time I was 30, I had about $30,000 in credit card debt, I owed my parents a ton of money, and I wasn’t doing too well. Allow me to give you a brief overview of my financial life.
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