Many of us go year after year, living paycheck to paycheck never seeing the light at the end of the tunnel and it’s not getting easier. The cost of living continues to rise and in our fast-paced digital world, we are spending money without even acknowledging it.
Even if you think you know where every penny is going each month, it wouldn’t hurt to carve out some time to print out your bank statements and do a little treasure hunting.
By looking at your account activity, line by line and using crayons to categorize each expense you might see where you can save or eliminate an expense.
For example, you can use these colors to categorize or come up with your own:
Green: Home-related expenses
Blue: Business related expenses
Purple: Kids related expenses
Orange: Car-related expenses
Yellow: Food- groceries and eating out
After you have colored your bank statement, go through the list below to see where you can save in each category.
Check bank statements for:
- Utilities to cut out or call and request a lower payment
- Unknown charges in account activity
- NSF fees that you can call and request a refund on
- Frequent spots you might be able to get a discount or membership to save money
- Review gas stops and see if you could save going somewhere else
- Memberships to unsubscribe from
- Review charges for Pharmacies and check LowestMed.com for the cheapest pharmacy to purchase from and get a discount RX card to save more.
Check these site to see if you have legit free money waiting for you being held by the government:
- IRS.gov/refunds to check on refund not received
Save on what you are buying and/or get cash back with these Apps:
- Coupon Sherpa
- Retail me not
Look for discounts:
- Senior discounts
- Kids eat free.com
- Military Discount
- Student discount
- Consignment stores
- Yard Sales
- Pawn shops
- eBay and Craigslist- find items sold low for you to sell high
- Offer Up
Automate your savings with Apps like:
Sell gift cards OR buy discounted gift cards for places you frequent at:
- Gift Card Granny
- ABC Giftcards
- Coinstar Exchange- exchange gift cards not used for up to 85% of the value.
- Groupon and Living Social
Save loose change in water jugs or piggy banks and then go to a Coinstar where you can turn pennies and change into dollars quickly or roll it up yourself!