5 Frugal Ways New Families Can Conserve Money

Many families today struggle to save enough money for the future. With the rising costs of many products and services, it is more important than ever to figure out a plan in this area. 

Many families also have to have both parents carrying full time jobs and for some, that might not even be enough to bring in enough money to make sure all of their bills are paid. 

The good news is that there are many ways that you can conserve money as a family.

Cook at Home

Perhaps the easiest way to save money for your family is to cook at home instead of going out to eat. 

There are a lot of people who spend way too much money going out to eat at restaurants in their local area. Not only is this less healthy, but it also costs a lot of time and money. 

Start working on meals each week that your family can cook and enjoy together. This will allow you to figure out a way to make things for less money.

Shop Insurance

Few people know that they can continually shop for cheaper insurance throughout the year. 

The average family spends hundreds of dollars per month on auto and home insurance. It only makes sense to look at ways that you can save money in this area. Many insurance companies are willing to lower the costs of care if you will bundle your coverage.

Budget

One of the things that all families can do to be better with their money is set and stick to a strict budget. 

Many families spend too much money on products and services because they do not keep and maintain a budget. This is never a good idea, and you need to make sure you have a financial plan for your money at all times. 

Simply writing down your financial goals has a huge impact on your financial future. You should also be doing simple things like taking ten percent of your income and dedicating that to savings. It may not seem like very much, but it will add up over time. 

You also may need to consider tightening up on unnecessary expenses. These usually include extras or guilty pleasures that you might enjoy. Eliminating these things will help stop unnecessary spending and thus helping you have more money in the long run. 

Buy a Used Car

One of the best things you can do is not waste your money on a brand new car. Rather, it is more frugal to buy used as you will have lower monthly payments each month allowing you to dedicate your budget to more important financial areas for your family. 

Dealerships like the Young Automotive Group can help you find the right and reliable used car for you and your family.

Coupons

Some people thing couponing is crazy, but if you put in the work, and you can save a lot of money, then why not take advantage of them? 

Another great way to save money on groceries is to look for coupons. These are easier to use than ever before because of all of the online options. If you are ready to start saving money, look for coupons in your area to clip for products that you can buy. 

A lot of people have high levels of success with this strategy.

Overall, saving money is possible with the stress of a new family. Simply stick to a plan and follow these tips to save more money each month. 

The more financially organized you are, the easier your overall life will be. 

Living The Dream Or Counting Every Penny: What Will Your Retirement Look Like?

What do you want your life to look like in retirement? Do you picture yourself retiring to the coast or the countryside? Reconnecting with your spouse whilst vacationing or taking a cruise? Or picking back up some hobbies like gardening or golf? 

Sounds great, but whilst you might have the dream, have you thought about how you will pay for it in reality? 

According to a recent study, one-third of American adults have no retirement savings at all, with many choosing to stick their head in the sand and spend today rather than save for tomorrow.

Picture The Life You Want

The first step to a stress-free retirement is to take the time to sit down and think about what you would actually like your life in your later years to look like. Some key things to think about might be what age you'd like to retire at, where you'd like to live, what little luxuries you would like to have. 

Next (and one of the most important steps) is to realistically work out what it may cost you - there are many calculators available online to help with this process, and it's a very valuable exercise: many people either vastly over or under-estimate how much retirement may cost them. 

Remember, it's difficult to start planning if you don't know what goals you are aiming for!

Make Changes Now!

Obviously, the older you are when you start, the less time you have to save. In an ideal world, everyone would start to save for retirement when they first start earning - the compound interest effect means that you will build up a much bigger pot this way, but few people actually start then. 

The main thing is that you start now, whatever age you are at - you are only going to get older, and starting to save for retirement at age 45 is better than starting at age 50! Look at any little ways you can save like bringing lunch from home instead of buying it when you're at work, or foregoing your daily latte habit, and put the cash straight into your savings pot. 

Another great way to save is to have a small amount paid straight from your paycheck into a savings account - if you can only manage 2% to begin with then start with that, but commit to growing it on your next pay increase, that way you'll get the benefit of more money going into your savings without feeling like you're paying more into it. 

Make sure to take advantage of any employer contribution for your 401K too - many will match what you put in, and that's free money!

Insured For Life?

One thing to think about is investing in a life insurance product - not just from your own point of view (many policies pay out early in cases of terminal illness), but also for what you might want to leave behind for any family members in the event of your early death. 

Life insurance can be quite complicated - how much you want, whether you want whole, universal or term life coverage, if critical illness cover is included etc, so it's important to use reputable sources to do your research, or use an trusted independent advisor.

Start Today!

Retirement planning can be confusing and stressful, but don't put it off another day - make the first move today and take it step-by step. 

Think about key things like the lifestyle you want, how much money you need to achieve it and life insurance, and either do your own thorough research or consult an independent financial advisor to talk you through it all.

7 Ways To Save Money On Your Monthly Expenses

Well, I won’t be wrong in saying that one of the greatest challenges in personal finance is finding out the ways in which you can spend less money. One of the best and tangible ways of doing this is to save money on your monthly expenses. 

Even though some of your bills seem small and insignificant on their own, but cumulatively the effect can be massive and worst of all it can become a leading reason for a huge drain on your resources.

In order to cut down the damage caused on a monthly basis, most of the people look for varied easy to implement & effective methods in which they can cut their expenses. So, I am going to discuss top 7 ways to save on your monthly expenses. 

Try Using Public Transportation

When you use public transportation, you get to save a significant amount of gas, petrol, diesel, and maintenance over time. 

Remember each time you are leaving your car behind, you are saving money. I have tried this strategy of using public transportation myself and trust me it really helped me save money. 

Sell Unwanted Stuff

You must be having stuff in your home you don’t use often. Selling all that stuff on eBay can be a smart way to earn some quick money. 

You can use this money to pay off your debt and get rid of it once and for all. I have also sold some of my stuff, that includes selling off my Cricket Gear when my debt really got unmanageable. 

Installing A Programmable Thermostat

Using a programmable thermostat, you can easily program both the heating and cooling of your home, even when you are not at home or when you are asleep, thus saving on heating and cooling bills. Setting it to cool or heat before arriving home from work will surely come handy.

Go For CFLs And LED Bulbs

Incandescent bulbs are history, LEDs (light-emitting diode) and CFLs (compact fluorescent light) are the new trends in lighting. Update your house’s light bulbs and switch to LEDs and CFLs. 

The best thing about them is that they are four times more energy efficient than incandescent bulbs and most importantly lasts longer. Make sure you consider Lumens Number when you are comparing the bulbs. Lumens will tell you the actual light emitted by the bulb. 

Benefits of CFL –

• Save Energy – CFLs are four times more energy efficient as compared to incandescent bulbs. This means that these bulbs use 50 to 80 percent less energy. 
• Cost Element – Yes, initially it will cost you more, but it will prove less expensive in the longer run. The main reason behind this is that CFLs last longer. 
• Environment-Friendly – Using CFLs also cut down carbon monoxide emission to the atmosphere by 1,000 pounds. 

Benefits of LEDs –

• Longevity – LEDs are known to have impressive operational life i.e. 100.000 hours. 
• Energy Efficiency – Consuming 80% less power as compared to incandescent bulbs, LEDs are highly energy efficient. 
• Longevity – A LED light can last up to 7 years. 
• Safety – There is no heat produced by LEDs but on the other hand incandescent bulbs heat up and they are not comfortable to hold. 

Cancel All Your Club Memberships

You might be having gym membership and a local club membership. Ask yourself, how often do you use these memberships? 

I am sure you are using a gym membership not more than once in a week and club membership not more than once in a month, you are probably spending money indiscriminately. Cancel all your memberships and see how much you have saved. 

Cancel Newspaper And Magazine Subscriptions

If you receive newspaper and magazines in your daily mail, but don’t read them often, make sure you have opted to cancel the subscriptions without giving it a second thought. 

If you really want the reading material, you can either go to the library or you can read them online as well.

With the advancement in the field of technology, lots of newspapers, news channels, and magazines have their online versions. So, it makes it easier to go through the latest news and gossips while you are on the go. 

Compare The Prices Of Electricity And Gas

Take some time out and find out are you really getting best deals on your electricity and gas? Today, there are numerous comparison websites where you can compare the prices, so make the utmost use of such websites.

Author Bio

Sophia Jones tries to live her life like the sun – setting her sights high and vowing to always rise up again. Always game for an adventure, Sophia loves widening readers and her own expectations of our vast, beautiful world. As a journalist, Sophia writes to inform. As a creative writer, Sophia strives to inspire. Overall, she hopes to captivate. She currently writes for sites like alwaysreview etc.

Financial Figures: How to Make Getting a Car an Affordable Decision

The thought of purchasing a new vehicle likely makes your wallet shake with fear. Even if you have a solid income, you still know that your bank account will drain after this purchase. Still though, that doesn't mean you need to purchase the most expensive car and leave yourself with little money.

Better Your Financial Situation

Few people have the money to purchase a new car outright, so you're probably considering some type of finance or lease agreement. As a result, you need to know the connection between credit scores and car loans. 

Low credit scores might mean that you struggle to obtain a loan. Also, even if you do get that loan, your interest rates could be high. Working to repair your credit before applying can help. Furthermore, lenders will look at your down payment amount and monthly income, so try to bolster those areas too.

Consider Other Options

The thought of a brand new car is probably enticing. However, they are also the most expensive cars, and plenty of reputable vehicles are available for lower prices. These cars have just been used before. 

By browsing through the inventory of a dealership, such as Bay Ridge Nissan, you can see that a car with a year or two on it is not necessarily a bad buy. The dealership might have had an overstock of cars, or the previous owner might have needed to end a lease early for reasons unrelated to the quality of the vehicle. 

In any case, choosing a car that isn't brand new is likely to save you money.

Negotiate

You don't necessarily need to pay the sticker price of the car. Once you've narrowed down your options to a few cars that you particularly like, find out what they are selling for in the area. Researching the value of these cars is also important. 

With these two tools, you can have negotiating power in your hand. When speaking with the salesperson, you can also say that you are unwilling to pay more than a certain amount per month. If that cost isn't met, you can try a different dealership.

Separate Need from Want

If you have tried these strategies and you're still concerned about the cost of your payments, then you might be looking at the wrong cars for your budget. 

While having all of the latest features sounds enticing, doing so might just be out of your budget at this moment. Instead of feeling defeated, make a list of what you need as opposed to what you want in a car. 

You might want a car with the latest entertainment updates, but you need a car with the best safety features. Making a list of priorities can help you better select cars in your price range.

Buying a car doesn't mean that you have to spend all of your money. After all, you want funds saved in the event that you need repairs. Keeping these tips in mind can help you to procure a new car and keep money in your account.