4 Savings Strategies For a Tight Budget

Are you dreaming about a new pair of shoes, buying a new vehicle, going on a tropical vacation, or saving for your retirement? We could all use a little more money in our pockets or savings accounts, so in celebration of National Dollar Day (August 8), here are four ways to help boost any budget.

1.Take an inventory of your possessions.

Look at what you own. You may be surprised by how much stuff you have and the value of it. (Plus, it is important to know for insurance purposes in case your belongings are damaged or stolen.) Look through your clothes, electronics, books, collectibles, and furnishings. Once you have an inventory of your items, honestly ask yourself the following questions:

• Do I need every piece?
• Why do I have it?
• How does it make me feel?

Determine which possessions you can part with. Make money by selling unneeded items online, at a consignment shop, or in a yard sale. Save money on your taxes by donating to a local charity. Or swap items with friends or family and get something new for free. The monetary benefits of letting go will add up, and you most likely won’t miss the items after they are gone.

2.Don’t buy it, make it.

The DIY craze is not only sweeping the nation, but it is also helping pocketbooks. Search online, go to the library, or talk with others to find ways to make your own food, entertainment, and gifts.

• Food

• Brew your own coffee, brown bag your lunch, and prepare your dinners at home. Find recipes and meal plans online.
• Buy foods that are on sale, in season, or in bulk.
• Utilize your freezer. Freeze half of perishable foods immediately after purchase to prevent waste. Double recipes and freeze extras for later.
• Use a refillable water bottle.

• Plant a garden.

• Entertainment

• Check out the library. Membership is free—just remember to return items on time.
• Visit parks, nature trails, museums, and other community places and events with free admission.
• Stay in. Invite friends over. Have a potluck or picnic.
• Stream shows, movies, and games.

• Gifts

• Make a gift or give your time.
• Create your own gift wrap, cards, and tags. Search blogs and social media for ideas and inspiration.
• Call, send an electronic message, or hand-deliver a card.

3.Sharing is truly caring.

Connect with others to increase your bottom line and enhance your social relationships.

• Carpool to school or work.
• Exchange (clothes, books, jewelry, etc.) with friends and family instead of buying new.
• Trade services (lawn mowing, babysitting, cleaning, etc.) instead of money.
• Seek discounts from friends and sites on social media.

4. Be healthy.

• Take care of your most valuable asset, yourself. Maintaining a healthy lifestyle,

            including the following habits, should lessen the cost of doctor and hospital visits.

• Drink water, eat well, and get enough sleep.
• Wash your hands often and thoroughly.
• Exercise regularly.
• Get regular check-ups.
• Brush and floss.
• Use sunscreen.
• Get a flu shot.

Bonus strategy: Take care of your vehicle and home by performing regular maintenance. Routine checks can help prevent larger expenses down the road.

There are many ways you can save money and feel good about doing so. Your family, friends, library, and online community are all great resources. You should also talk to your independent insurance agent about insurance discounts.

Happy saving!