Tuesday, November 11, 2008

How to save 1,000 bucks by Christmas

You might be interested in stashing some cash for Christmas. I know I am. I watched a news clip on how to do it at the beginning of November so I am a few weeks late in posting this. Instead it will be more like how to save $1,000 bucks by New Years. Our savings didn't quite total $1,000 but a dollar saved is a dollar earned. Here are the tips and money saved over a 2 month period.

1. Grocery shop once a week cut out all impulse purchases and splurge items, plan meals: SAVINGS: 200$
2. Cut out the addictions: smoking, alcohol, coke, magazines, starbucks, SAVINGS: 100$
3. Lower your thermostat 2 degrees SAVINGS: 60$
4. Eat out 2 less times a month (or in our case Chad brings lunch to work) SAVINGS: 160$
5. Re-evaluate your phone and cable bill and lessen the plan SAVINGS: 120$
6. Make tax adjustments on your 1040 to withhold less SAVINGS: 360$

Savings are obviously estimates. The actual $ amount saved will vary. It did make us think though. We were able to re-evaluate our necessary expenditures for the next few months and cut some of the non-essentials. Over the next 2 months our total SAVINGS: 850$ (and we didn't adjust our tax withholdings). Try it you might be amazed at the cash you can save.

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