Mishka’s Moneysavers Part 3

by Frugal Finder

More of Mishka’s Moneysavers!

Escape to Costa Rica!

6. Organize what’s left when you’ve disposed of the clutter. Organize like items together in boxes, baskets or cabinets in areas where they are used most. If you don’t know what you have, then you don’t know what you need- or what you don’t. Ever add something to your shopping list when you were at the store, only to get home and find that you already had it? That’s time and money you won’t get back- and it may take months before you get around to using the duplicate item when you could have used that purchasing power on an actual necessity.

7. Now that you know what you have and what you need, start an expense journal. Chart 1 months’ bills and expenses. Just a 30-day span will show you in black and white exactly where and when your largest expenditures are. If multiple large bills are due the same week and you consistently incur late charges to pay them all, see if you can rearrange the due dates. Tracking unbudgeted expenditures can show you that you really are spending $150 every month on lunch, or buying a soda every time you fill up with gas, or spending a premium for that quick oil change on your lunch hour when the shop down the street can do it Saturday mornings for much less. Small amounts can really add up over time.

8. Review your insurance policies with a credible agent. Combined policies can often qualify for a significant discount. Term Life insurance can be had for a much larger amount at a much lower premium than Whole Life – especially if you are relatively young and healthy. And whole life is really just an excuse to borrow money against a policy- that you wouldn’t need to do if you were paying a lower insurance premium to begin with and saving or investing the difference. Consider changing your auto policy. Sometimes an auto service membership can be less expensive than adding all to bells and whistles to your auto insurance. And the discount on that accident forgiving add-on may not match the extra fees attached to your premium every month.

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