Spending Less in 2014

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Now that the holiday season is over, this is the time to tighten your belt on excess spending! The new year brings us closer to promises to ourselves that we intend to keep to help us better ourselves, so in this new year, it is time to start spending less in 2014, on the things that we don’t need, and start saving for the ones we want, long term. Scroll down and continue reading these helpful tip that can help you shed excess spending in creative ways, while still being able to enjoy your free time.

Credit CardsSpending less in 2014

Credit card debt can compile easily, and that was probably a lesson you learned during the holiday shopping sprees. Even though the ease of buying when you don’t have cash on you, that comes when you get to use that piece of plastic because it is so readily available. And you get, on some cards, buyer points that you can cash in on products or vacations, but you also get charged interest on every purchase you make. The easiest way to look at this, is to realize that you are paying an annual interest rate on every dollar allocated for your use. So in essence you are paying interest plus every dollar you use. So If you buy something worth $60, you owe $60 plus the interest rate. It would be better to use a debit card or cash, because while you are still spending money, you are only spending what you plan on spending, there is no interest levied against you at the end of every month.

Fuel Efficiency

We all have to get to work, and unless you are able to take the subway or the metro system, which by the way has been rumored to having a fair hike this year; you will probably be driving to work. And the beginning of the new year is a great time to invest in a more fuel efficient vehicle. The car companies are always in a sales promotion scene. Every new month comes with a whole new set of lease and buying programs being made available to the consumers. But, not all of us can just throw down money to get a new car, simply because there are more fuel efficient ones being produced. So in understanding the base principles of saving money and spending your money more efficiently, why not carpool. In the 1970’s, car pooling was incentivized by the U.S. and still remains a tangible option to cutting commuting costs, by using the car pooling buddy programs. It is worth a try, as long as you don’t mind giving up your personal time in the commute before and after work.

Spending less in 2014Monthly Expenses

Monthly expenses are usually a monthly number you can count on, a bill or payment that is reoccurring, like a car insurance payment, or life insurance, telephone, cell phone, internet etc. What we have learned over the years via company spending, is that most companies spend more of their money on acquiring new customers, than that of retaining them. What this teaches us is that in order to save money long term and cut our costs short term, would be to follow the money. Follow the corporate spending and rely on their competitive nature with each other. What does this mean? It means that the practice of rewarding long term customers is no longer in practice. So if you are not being rewarded with being a long term customer, why stay? Why not take the next logical step and save yourself money by searching for new companies to do business with. It might take a little time to find the right coverage and premiums for you, but if anyone is going to see the best return on your hard work shouldn’t it be you? Recalculating your monthly expenses is a sure fire way to save yourself money, every month. With the passing of every month, you will then be able to calculate your yearly savings that can either be pumped back into your savings or can be put to work either in getting that new car you want or even that vacation or trip you have been dreaming of.

Spending less money in the new year can not only save you money in the long run but can save you money in the short term. I’d wager the bulk of us aren’t rogue millionaires thinking about how we can save tons of money on excessive purchases, but common money saving investors, and retirement dreamers looking to enjoy our life, and still save for our old age and retirement goals. Understanding how to best use our money, and use our money to make us money is the key to spending less money not only in this new year, but all the new years to come.

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