At Rock Bottom T-Shirts, we’re all about saving you money on your family’s clothing, but we’d also like to help you find other ways to save your family money. If you want to secure your family’s financial future, then at some point you’ll need to be able to find sustainable ways to save money. Of course, there are other ways that you can get ahead quickly. However, to truly make saving money worthwhile, these three methods will make saving money for the long term much easier.
Saving Money as a Family
If you can make saving money a team effort, you should get a lot of mileage out of your savings plan. If everyone in your family chips in to save money, it makes it much easier for the entire household to save money. Incorporate saving money into your everyday routine to help you and your family stay on track. It is best that the effort to save be shared by everyone in the family.
The Gradual Approach to Saving Money
Oftentimes people assume that they must take drastic measures to save money. Fortunately, this isn’t always the case. In fact, there is an alternate school of thought that says that starting small is the most practical way to make your savings plan sustainable-over time.
For example, if you find that much of your driving throughout the day is confined along the same route and that route happens to be on a bus line you could opt to not drive and take the bus on some days. You could also car pool with friends or co-workers.
Another thing that can help you is to find ways to avoid the little temptations that often end up eating up our savings-such as impulse buying at the grocery checkout counter. David Bach in his “Finish Rich” series calls it the “Latte Factor”. Find those little expenses that add up over time and cut them to save money. For instance, if you buy a $4 latte every day and you decide to cut that out of your budget, over a 10 year period at 6% interest, you could save over $20,000 dollars!
Cutting Costs by Going Green
Another really powerful money saving strategy is to go green. Similar to the methods that we’ve discussed above you don’t have to do this overnight. Instead you can take a more gradual approach and start with the low hanging fruit. For example, start getting yourself into the habit of turning off and unplugging appliances that you’re not using.
You could also make a note of the rooms that don’t require much lighting. Once you’ve identified which rooms don’t need as much light you can replace higher wattage bulbs with lower wattage bulbs. Alternatively, you could replace all of your bulbs with energy efficient bulbs.
Another area that could be draining your savings at home is your water bill. Check and see if you have any leaky pipes or faucets that could be eroding your savings. Also, try to take showers instead of baths, cut the time of your showers and turn the water off when you brush your teeth to save more money.
In closing, these aren’t the only ways that you can save money but they do represent some of the most sustainable ways to cut your costs. Do you have any tips or resources that you’d like to share on how to make saving money sustainable? We’d love to hear them and encourage you to leave a comment below.