Almost every American family could cut down on their expenditure and use the savings they make to pay down their debts including their mortgage. If you are already lucky enough to be debt free you can use the cash to save for your retirement or perhaps to reward your family for their efforts with a special holiday. These tips will help you in other areas of your life too as they will lead to weight loss and becoming fitter. Given the fact that this is the first generation where our kids could die before we do from diseases such as diabetes, we all need to take steps towards a healthier lifestyle.
- Always go shopping with a shopping list and never when you are hungry. If you are starving you will make impulse purchases which will usually be bad for your waistline as well as your wallet.
- Start cooking all your food from scratch. Not only will it help you and your family lose weight and become healthier, it is also much cheaper than relying on take away food and processed ready meals. These products are very high in fat and sugar and may be a contributing factor to the increasing obesity problem in the USA and the rest of the western world.
- Plan your meals in advance. Not knowing what to cook from one day to the next will lead to you wasting food and the average American family already throws out thousands of dollars in food every year. If you plan a menu for the next fortnight, not only can you manage your food storage more effectively but you can also reduce the amount of time you spend cooking. Instead of cooking one portion of tonight’s dinner you can cook two and freeze the second one for next week. Having home food frozen in your freezer also reduces the temptation to ring for a pizza after a hard day at the office when you don’t feel like cooking. You won’t have to worry so much about using your 401k to repay credit card debt if you can make more savings without reducing the quality of your day to day life.
- Look out for special deals at the grocery store. If you have the freezer space stock up on specials and put them in the freezer for the next month or two. Different products have varying shelf lives in your freezer so you will have to check the instructions on the back of the packet. We want you to improve your health not contract a case of food poisoning.
- Instead of paying for take outs at lunch time, pack a lunch box. Instead of buying papers read a free one or access the new sites online. You don’t need 1000 channels on your TV so cut back your entertainment package to the stations you watch.
- Review your insurance policies to make sure you are not duplicating cover. You could also increase the excess under these policies if you have sufficient savings to cover this amount should an accident happen. The money you save on insurance premiums can go towards paying down your debts even faster.
Every time you come up with a way to save money, put the cash you save in a jar or a bank account separate to your main banking. If you have outstanding credit card balances use the cash to pay these down quicker so that you save even more. You would be amazed at how fast you can improve your credit score by paying down existing debts faster.
With these tips you can lose weight, get fitter and become better off financially. Now what more could you possibly want?