Change Your Perspective To Save Money: 4 Tips

Many of you know, and some of you don't, I live outside of Nashville, TN which is one of the fastest growing cities in the U.S right now. As the city continues to grow, the cost of living goes up, taxes increase, rent and mortgage goes up. It makes it hard for people to live their day to day lives when they are struggling financially. I have put together four tips that have helped my husband and I get through the change. We have a blended family of six children, yes I said six, ages nine through eighteen. We have learned to be very cost efficient. 

1. Give

Huh? Yes one way to save money is to give. How? Three words: tax write off. Depending on the tax bracket you're in and how much you give, it can help reduce how much you owe the IRS. I'm sure many of us would rather give the money to a nice charity then to the government. Plus give and it should be given to you now this shouldn't be your motivation for giving but should free your mind from worry when you do give. You should give at least 10% of your income to a church or charity that you believe in. 

2. Save at least 10% of your income.

 If you make $50,000 a year you should be saving $5000 a year. Your giving will be $5000 a year and you'll have $40000 to live off of. If you set this up automatically with your bank then you will not miss this amount. After five years you'll have $25,000 saved up. Five years may seem long on paper but in reality five years goes by fast. It worth having the discipline to save at least 10% of your paycheck.

3. Learn to bargain shop. 

Some people don't like this because it's embarrassing. I have learned to get over the embarrassment and save money. I will carry my coupon note book in the store in a heart beat. I actually have people who admire me for couponing and have had people ask for advice. I even have had people give me more coupons in the store and I have given some away. It connects us, why not help each other? We are all in the same boat of saving money anyway. Also it isn't as time consuming as people think. I clip coupons while watching a favorite show or movie. You're going to watch television anyway so you might as well do something productive while watching. I also have kids who help cut. They like doing crafts and they like going shopping with me so why not get them involved. It also teaches them how to save money. Don't be ashamed of going thrift shopping. I always find brand new items with tags and all in thrift stores. People buy things without trying things on in the store and when they get home throw it in a pile to be donated. It happens all the time. Their loss is our gain. I have found a purse marked down to $3.00 and didn't realize what I found until I got home. My teenage daughter recognized it. It was clutch purse worth $500.00 by a designer in New York. Shop clearance and be patient. I found two pair of boots at the beginning of spring that were marked down to $10 per pair. The original cost was $50 per pair. The patient part is I have to wait until it gets cold enough to wear them but it will be worth it because I won't have to scramble around to find new boots when it gets cold. 

4. Get rid of what is unnecessary 

If you sit down and make out a budget of what you spend each month you may find some spending you can cut back on. An example is cable, cell phone bills, house and car insurance. Shop around for the best deals in these areas. Bundle what you can, cut down to the bare minimum. Ask yourself if you really need these needs to live. We do this every few months as a married couple and believe me, it helps a lot. 

I hope these tips help to get you started on being more financial savvy. Please give any feed back and suggestions.