Improve Your Finances by Taking a Step-by-Step Approach

booksPhoto courtesy of Bravo_Zulu_

As you are making your way along the path to financial freedom in 2013, Veitengruber Law has solutions to any complicated financial situation that you may be dealing with whether you are having trouble paying your mortgage, are dealing with steep credit card debt, or have a plethora of overdue utility bills. We can also help you collect on a debt that is owed to you or your business.

On the other hand, if your financial situation is relatively stable, in all probability you still have financial goals that you would like to meet. The advice we give our clients who are in a similar position is to make small changes to your everyday routine that can really make a significant difference by the end of the year. Put as many of the following tasks into action as possible, and be persistent about them. You won’t see a big difference right away, but if you persevere, a successful financial outlook is definitely on your horizon.

  1. Eliminate. Take a good inventory of everything that is currently cluttering up your home, garage and attic. Have a yard sale to make some profits from the things you simply no longer have a use for, or start up a small eBay side business.
  2. Create your own gifts. You can learn how to make all kinds of interesting consumable gifts like candles, bread, soap, etc. You’ll save money and since they are consumable, they won’t end up re-gifted or cluttering up someone’s home.
  3. Use coupons! Shop only one time per week to eliminate impulse buys and always check store sales to coordinate them with weekly coupons. Always take a list with you to the grocery store.
  4. Cut your own hair. This is actually a lot easier than it sounds. There are a lot of helpful YouTube videos on this topic, and you can even learn how to cut all of your family members’ hair for additional savings!
  5. Shop vintage. If you haven’t checked out vintage shops lately, put it on your priority list. Not only will shopping vintage save you a staggering amount of money, but vintage wear is actually in style right now.
  6. Start packing. Pack your lunch at least one time per week if you work outside of the home. Packing even more than once is ideal.
  7. Start a ‘no spending week’ experiment. This is a great way to put a little bit more money in your savings account. Pick one week every few months and don’t spend any money that week at all. This is aside from the cost of gas to get to and from work and any daycare expenses. Use up all of the food in your pantry and refrigerator. Entertain yourselves with books and movies you already own. Visit the library to stock up on books if you need more entertainment. You can intensify this experiment by even cutting out the cost of gas by biking to work or carpooling.
  8. Shop around for deals on car and home insurance.
  9. Get familiar with your library. Instead of renting a movie or stopping by Redbox on a Friday night, pick up a few movies from the library on your way home from work. Not only do they have a huge selection of awesome books, but you would be surprised at the movie selection available at most libraries these days.
  10. Stop and think. Never make an expensive purchase (unless it is absolutely necessary for your survival) without thinking about it for at least a month. Usually what happens is you will have forgotten about the unnecessary purchase by the end of the thinking period.

Look for more helpful money saving ideas right here at the Veitengruber Law blog next week. Please feel free to add your own suggestions in the comments!

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