Today’s post is from Joshua Rodriguez of CNA Finance.
You work hard for every penny that you earn, there’s no denying that! And, you’re doing everything you can to save every penny you can… After all, raising a child on a single mom’s income can be a bit tough.
I started think about unconventional ways to save money a few years ago, as I was bearing the results of bad financial decisions early on. Although, some of my ideas to save didn’t work out when it came to real world action, there are 2 that really did save me quite a bit! Here they are…
#1 – Do Grocery Shopping On 1 Day Each Pay Period And Spend Wisely
I used to be horrible with making a plan for going to the grocery store. So, I would go when I got paid and get what I could remember I needed. Then 2 days later, I’d go again. Many weeks I was at the grocery store 3 or 4 times. Each time I went, I had a tendency to grab little things like a magazine or, a soda, candy, etc.. So, I stopped doing that.
Now, before I go to the grocery store, I think of the meals I will want to eat for the coming weeks. I also think about little things I might enjoy, within reason. By doing this, I started saving anywhere from $50.00 to $100.00 per month in pointless purchases.
When it comes to spending wisely, I’m not telling you the conventional idea like, use coupons or shop around for the best deal. You already know how to do those things. But, now, let’s take those savings a step further.
Thinking about the layout of your grocery store, I can guarantee all the fresh foods are on the outside walls of the store. As you get more and more into the inner isles of the store, you find processed foods. Because the foods are processed, they tend to cost more. It takes time to prepare so, you have to pay for that time. However, just about everything you need to prepare what you find in the center isles at home can be found in the fresh areas of the store! All of that being said, doing this has saved me about $150.00 a month in groceries and still does to this day! So, it’s a great way to save money and stay healthy at the same time.
#2 – Work To Improve Your Credit Score
The reality is, if you are reading this blog, you are most likely a single mom or, a single dad that is looking for ways to save money and provide for your family. The vast majority of consumers in your shoes carry credit card debt with almost unreasonable interest rates.
If you put a plan together and work to improve your credit score, you will have a leg to stand on and be able to demand lower rates. If you don’t get them, you can transfer your balance to a 0% promotional balance transfer card. However, if you don’t have good credit, you’ll continue to pay high rates. With the average American household credit card debt being around $6,000.00, small reductions in interest can mean great monthly savings!
Final Thoughts
These are 2 ways to save money that I know work. However, don’t stop looking for more. There are always more ways to stretch your dollar further!
About The Author – Joshua Rodriguez
This article was written by Joshua Rodriguez, proud owner and founder of CNA Finance and avid personal finance journalist. Join the conversation about this article and more on facebook!
I will be the first to admit that I am a horrible grocery shopper. My wife and I plan our meals the day of and then go to the grocery store to pick stuff up. Instead we should fix meals based on current sales.
Good tips on the grocery shopping. We actually cut down from going once a week to once every ten days. It has helped us shave $50-100 per month on our groceries and we have less food waste.
Good tips. On the grocery store one, here’s my advice: Don’t go shopping when you’re hungry. I always buy terrible things and more than I need when I do!