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Here are some more areas that might be a source of savings in your monthly budget:
Do you use your local library to borrow books instead of buying them? Now this one might seem a little silly, but books are expensive. If you do a lot of reading, try the library.
Are you a grocery coupon clipper? This one might take a little time, but can definitely pay some nice dividends. I know many folks who save anywhere from $25 to $50 on each trip to the store.
Do you buy a lot of "junk food?" This is very expensive and unhealthy as well. You can save quite a bit by buying healthy.
Do you really watch all of those extra premium cable channels? How many movies can you watch? Consider cutting back to a basic service and put the difference in your Power Money bucket.
Do you waste electricity? It can be wasted in many ways. Do you leave lights on after you leave a room? Is your water heater set too hot? Just a modest adjustment of 10 degrees can make a significant difference in your monthly bill.
Let your imagination run wild. We are very good at wasting money. My guess is that the average person could probably eliminate hundreds of dollars of unnecessary spending each month. That equals Power Money and, if used wisely, can create wealth you never dreamed possible. It's your choice... It's your future!
Next week we'll begin the process of adjusting our budget.
Until next time, Al Crisp, CPA
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