The ABCs of Saving Money will appear throughout 2010.
Bank accounts
How many bank accounts do you have? Do they cost you money or save you money? (Do you even know the monthly charges? I don’t.)
My husband and I have had separate bank accounts for a long time, but it in fact costs us quite a lot of money to do so. It was a choice made from lethargy as we never bothered to combine our accounts after we got married. We are now in the process of consolidating our accounts and changing banks, not only because we are trying to save money on monthly fees and service charges but also because of some really bad customer service at our former bank.
Budget
This is of course a biggie in the personal finance world. If you don’t have a budget, you should. If you’re scared of putting one together, you shouldn’t be. Knowing where your money is going is half the battle and it will help you feel more in control and better able to tackle the rest of your personal finance issues.
Beans
Beans are an essential component to a frugal diet, which is one of the reasons that you’ll see them on so many lists of ways to live frugally or how to save money. Not only do they taste good, but they are good for you. Either use them with meat (chili, kefta balls) or on their own (five bean soup, three bean salad). Dry beans are very, very cheap and store for a long time.
Balance
I’m not the kind of person who can swear off things forever. It’s why I have such a hard time sticking to a diet- I don’t want to never again eat french fries or have cream in my coffee! It’s equally try to sticking to a financial diet. Knowing this about myself makes balance an important b-word for me as I think about saving money. I try to remember and stick to my longterm goals, while still satisfying my short-term cravings!
What’s the B in the ABCs of Saving Money for you?
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{ 4 comments }
Budgeting is key and getting control of your finances is a big part of preparing for the future.
.-= Craig´s last blog ..Interview about BudgetPulse with Mr. CC =-.
“Beans” is a great one! I just had red beans and rice last night… what a great cheap and healthy meal!!
For my B, I’ll go with “borrow” as in “don’t borrow.” Buying things that you can afford is a great frugal tip to save in interest and debt.
.-= Kasey at Thrifty Little Blog´s last blog ..How much did your break-in cost? =-.
Excellent list. I put pen to paper this year and did a monthly budget. Since it is only for a month at a time it requires that I re-do it every 30 days.
Kasey mentioned “borrow” above. I’ve got a different spin on this as in “borrow from the library rather than buy”. I love books and I do purchase them but if it is a reference book that will be used again and again, I always borrow it first before I buy then I know if it will be worth my money.
.-= Nancy´s last blog ..what do you get? =-.
What about “Benefit” ? I like the words, but I would like to a “Benefit” to the list. We often desire things, but will fail to examine how something will benefit our life and our future. “Benefit” is often meshed with “Value”. Value is good, but I have learned that multiple “Benefits” are important and the true “Value” is not know until the end.