How to Save Money for Free and Avoid Debt – Quick Tips

Dec 13

Saving money is a big deal. Such a big deal that people spend money to save money! They sign up for better store cards, buy special promo deals, and purchase the platinum memberships. Of course, sometimes these are investments do pay themselves off.

But wouldn’t saving money for free be so much better?

The following are ideas for free savings in a few of the most expensive everyday areas. These simple ideas can save money and help your credit card stay free of the debt that can easily just pile up even from the small purchases. Enjoy!

Saving Money Eating out

restaurant-costMany families enjoy eating out multiple times every week. This is a pleasant experience, but restaurant bills add up, and long-term costs can be staggering. If a family of four eats out once per week at $10 a plate, and two of the family member get fast food twice a week for work, how much do you think that family spends in a year on restaurants? Well, it’s quite a bit: a conservative calculation puts the number at over $2,500 in a year. This is surprisingly close to the $2,505 that the average family spent on restaurants in 2010, according to an ABC News article.

You can easily be spending less on restaurants. Here’s how:

  • If you’re on a budget and haven’t realized how much restaurants were costing you, simply eat out less.

  • When you eat out, eat at restaurants with reasonable prices.

  • Use coupons! Countless restaurant coupons float around and they can save you a considerable amount for free. In fact, they’re some of the most popular and readily-available coupons available from Hometown Values.

Save Money on Transportation

transportation-costTransportation costs thousands of dollars every year.

The cost of transportation is huge. And this where so many people find themselves not only spending a small fortune, but even going into debt. Vehicles are quite pricy. Fuel costs are tremendous. Maintenance can also add a hefty bill to the mix.

So here’s the million dollar question… How do I save on transportation since I need it but it’s costing more than I can afford to spend?

Here are a few ideas:

  • Use gas rewards cards. Some grocery stores offer gas at discounted prices if you use their store card. Take advantage of offers like these.

  • If you use a credit card, find the card that gives you cashback on fuel. Some cards will give you about 3% of the money you spend on gas right back to you just for buying your gas with their card.

  • Use public transportation. This could be a major transition, but it could save you dollars every day on your commute. Long-term, this could amount to huge savings.

  • Don’t go into debt for a car. Buy used, buy cheap, but don’t take out a loan if at all possible. Monthly payments and interest makes for a tight pocketbook!

Save Money on Entertainment

entertainment-costEntertainment costs can be cut.

According to personal finance blogger Dan Wesley, the average family spends over $2,500 on entertainment each year. Some spend less, but there are also many families that spend far more even than this. Entertainment does not need to cost this much – here a few ways to lower costs in this area:

  • Use coupons. Some theaters offer coupons, a lot of games can be purchased with coupons, and the cost of other entertainment forms can be lowered with a good coupon.

  • Find cheaper entertainment. For instance, you can rent movies after they come out on DVD/BD for a fraction of the cost of a theater showing.

  • Find alternative fun ways to use your time. Read exciting books from the library, hang out with friends at the park, or stick to the movies on YouTube.

Bottom-line Financial Tips:

  • Use coupons whenever possible

  • Don’t spend mindlessly

  • Buy discounted products

  • Analyze transportation costs and consider money-saving options

  • Be smart with your restaurants and entertainment

#1 Tip? Make saving money a top priority and you’ll surprise yourself with how much you’ll save!

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