Resolve to Save Money in 2010: Cut Expenses Ten Ways

Day 1: Call credit card companies to re-negotiate credit rates.  Of course, always pay more than the minimum balance and pay on time. 

Day 2: Pay cash whenever possible, never carrying more than one credit card (for emergencies) in your wallet.  For example, if you have a large doctor’s bill, see if you can spread out your payments over several months.

Day 3: Cut out all the unnecessary itemized expenses on your telephone bill.  Do you really need call-waiting?

Day 4: Comparison shop utilities (natural gas, electricity, telephone, and cable) and then switch to the lowest provider.

Day 5: Turn back the thermostat when leaving for work.

Day 6: Open a checking account that automatically deposits a certain amount to a savings account every month.  Since I know I will have $75 less to spend each month, I actually save more than I would otherwise towards the end of the month.

Day 7: Pay bills on line.  If you have a credit card through your bank, you can also pay the monthly bill on that card when you deposit a check or withdraw funds.

Day 8: Plan at least one meatless day every week.

Day 9:  Limit the number of times you eat out every week to just one or two times, including drive through and take out; carry a sack lunch to work.

Day 10: Comparison shop styles and prices.  See what is showing at high-end department stores and duplicate that look by shopping discounters.  Purchase classic clothing that doesn’t go out of style.   Set a clothing budget and stick to it.  Since out of sight is more or less out of mind, limit your visits to shopping malls.

Adopting at least some of these resolutions will stretch an already tight budget.

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