Our goal at Peoples Bank is to provide access to personal and business banking services and help the people in our community through quality services and outstanding customer service.
You try to be careful how you spend your money, yet somehow you reach the end of the month and find less cash in your bank account that when the month began. Saving money seems like it would be simple, so why can it feel so complicated?
It’s very important to save—for an emergency fund, for retirement, and for your children’s college—so here are a few suggestions for cutting expenses.
One: Create a Budget
It’s hard to save money if you don’t know where you’re spending it. That’s what a budget is—a plan for how you’re going to spend your money. Sit down and decide where each dollar is going to go. By doing this, you can plan ahead, and you can more easily determine what your biggest expenses are and where you can save.
Two: Don’t Go Out to Eat as Often
Going out to eat might not feel that expensive, but it can add up quickly. One of the simplest, easiest ways to cut expenses is to eat at home instead of going out.
Three: Check Your Subscriptions
Netflix, Disney +, Hulu—it’s easy to subscribe to something and forget to unsubscribe. Check your bank and credit card statements to make sure there aren’t any companies charging you each month for something you forgot you signed up for.
Four: Buy a Used Car
New cars lose half their value when you drive them off the lot. Used cars are often a much better deal. Even if you can buy a new car outright, I would still suggest you get a used one instead.
Five: Buy Used Textbooks
If you’re in college or if you’re paying for your child’s college, then I’m sure you know just how expensive textbooks can be. But there are ways to save.
Textbook publishers often put out new editions of their books every few years, and often most of the text is identical, just with some material shifted around. However, you can often find older editions online or at used book stores for a fraction of the price of new ones. So instead of buying a new book, why not just get an old one.
For some classes, this won’t work—if your professor gives you assignments on specific pages, you won’t know what to do if the page numbers are different. However, for a lot of classes this can be as easy way to save. If you have a son or daughter in college, let them know that they can find older editions of their textbooks online.
I’m very grateful that my father gave me this advice back when I was in college. I was able to find older editions of most of my books either at used bookstores or online. One time, I was told to get the 5th edition of a textbook for a large amount of money. Instead, I found the third edition for just $3, and the only difference between the two was the color of the cover.
There are lots of ways to save money, but I hope these tips can help.
Our goal at Peoples Bank is to provide access to personal and business banking services and help the people in our community through quality services and outstanding customer service.
Proudly Serving East Tennessee
NMLS ID# 450164
(423) 442-7262
