Saving On Those Discretionary Expenses
BOSTON (CBS) - Let's discuss your discretionary expenses. This is stuff you have more control over than a fixed mortgage payment.
Saving On Those Discretionary Expenses
You still have to eat, and for many of us drive a car, but you can do it cheaper. And when you save money you will have to spend your time.
Grocery shopping: make it a family project and get the kids to clip the coupons and plan the menus. Cook at home more. When my kids were younger I would cook more on weekends so we had a couple of quick dinners ready during the week. Use a shopping list whenever you go shopping.
Don't go food shopping on an empty stomach. Well most of the time that is very good advice but I stopped at Wegman's last Saturday and I was served samples from one end of the store to the other including a wine tasting.
Instead of a dinner out consider picking up one of the store's rotisserie chickens which for the most part are quite cheap. BJ's has them for $4.99 and easily serve a family of four and have leftovers from one chicken. Add vegetables and a loaf of bread and for a special treat pick up some ice cream and you can serve 4-6 people for under $10. A lot cheaper than eating out and you get the kids involved as well.
- When shopping for a new consider buying a used car. One or two years old.
- Don't buy more car than you need
- Drive sensibly
- Observe the speed limit, for every 5 miles above 60 it's like paying an extra 26 cents a gallon.
- Use cruise control
- Remove excess weight like that 50 pound bag of dog food in the trunk. No junk in your trunk!
- Do not idle your car. Consider parking the car and going inside for your cup of coffee. If there are three cars in the drive thru at Dunkin Donuts' park and go in for your order.
- Carpool: most cars in the morning rush hour have one occupant, the driver. Even if you can only do it a couple of days a week it could save big bucks.
Money Conference Alert!!
On October 11th I will be the key note speaker at The Money Conference which is a FREE one-day event presented by The Office of Massachusetts State Treasury. It will be held at UMASS Boston and the first 500 registrants will get a free copy of my newest book, Money, Your Personal Finance Guide.
There will be afternoon classes on everything from budgeting to buying a house. The Financial Planning Association of Boston will have volunteer financial planners there to help answer questions. You can set up a meeting with a Money Mentor when you register. If you have questions about the conference, contact Sheila O'Loughlin of the State Treasury at (617) 367-6900 ext 615.
