keep more of your money

10 Simple Ways You Can Keep More of Your Money

Parkinson’s Law States:

 Expenses will always rise in direct proportion to income

This simple statement is like a gut punch because we all know it is true. Think about this – Are you making more money now than at an earlier time in your life? If so, are you paying off debt faster, saving more, and living more of the life you had planned for? You can say “no” – it’s normal.

You and I are a lot alike. We behave this way because “A” – it’s a law, and “B” – we really don’t know any better. But what if there was a way to finally break the law…and start winning? Here are 10 ways you can start becoming weird by saving money in your monthly Budget:

10 Ways to Keep More of Your Money

1. Use Cash

Go to the bank every pay period and pull out cash. This is a powerful thing because you will start to actually feel money again. MIT did a study and found that when you use cash, the pain receptors are activated in the brain. However, when you use plastic, they are not. No Pain No Gain!

 

Related: How Using Cash Saved Us $27k

 

2. Cut the Cable

How many of you have an outrageous cable or satellite bill? The average cost of cable/satellite TV in 2015 is expected to be $123/month. Cutting this cost alone would save you $1,476 a year or $7,380 over the next 5 years! Ask yourself this: What show do I really watch that is worth $1,500 a year?! The answer is none when you are trying to win with your money. Cut the cable, buy an HD antenna , subscribe to Netflix or Hulu for $8 per month, or even better, check out Sling TV and you can even Try Sling TV FREE for 7 days. Hello?!

 

Related: How to Cut Your Cable and Still Watch TV

 

3. Drink Coffee at Home

On average a pound of good coffee can be purchased for $10-$12. This one pound of coffee will make 40 cups of coffee at home. 40 cups of coffee at Fourbucks Starbucks is $80! Also, we are talking about the old-fashioned coffee that you brew. K-Cups cost $50/lb on average. This one is easy. Do it!

4. Raise Your Premiums

Raise Your Premiums. Most people carry a $500 deductible on their auto and homeowners insurance. If you had a claim, and the cost was going to be $550, would you file a claim with your insurance company and watch your rates go up next month? No way! You can save money each year by simply raising your deductibles to wherever your comfort limit is.

 

Related: The 3 Must-Knows to Save Money on Car Insurance

 

5. Eat at home (more)

You want to have fun, socialize, and enjoy the finer things in life. But let’s put a realistic limit on it. The average meal at a restaurant was just under $50 per couple in 2014. The average meal at your kitchen table is not $50! If you currently eat out twice a week, that is $400 per month. If you want to go out, Happy Hour is your friend and “you’ll take a water”.

 

Related: Start Saving $100/month on Groceries

 

 6.  Ebates

ebates imageHave you ever purchased anything online? Just kidding. However, if you’re going to shop online, you should shop through ebates and earn cash back on every purchase. Instead of signing up for a credit card to earn cash back, you can do this through ebates and earn cash back in the form of a check sent to your mailbox while shopping at places like Amazon, Kohls, WalMart, Macy’s, and even Groupon. As an added bonus, you can start off with a $10 Gift Card when using the Money Peach Ebates Link!

 

7. Pay in Full 

Many of your subscription-based programs or even your auto insurance company will offer you a discount if you pay in full for the whole year. This will save you money and is easy to do. Set up a sinking fund and make the monthly payments to yourself inside that fund. Then once a year pay in full and save money!

 

Related:  The Quickest Way to Save for “Stuff”

 

8. Stop Name Branding your Purse to Death

My wife is on television 5 days a week and has to look pretty or she will have people contact her to remind her she looked ugly. Seriously, it’s pretty amusing at times. She also shops for all of her dresses at Target, Kohl’s, and small boutique shops. She never spends more than $25 on a dress and people actually contact her wanting to know where she bought her latest outfit. I’ll be perfectly honest – she’s hot. But in a $25 (or less) dress, she is smokin’ hot!

 

9. Cell Phone

keep more of your moneyTake a look at your plan and see if you are using all those minutes that you are paying for. You may not need those 100,000 minutes if your carrier has a friends and family or mobile-to-mobile plan.

Another great option is to switch over to a service that utilizes WiFi wherever possible so you can make calls for free without using up all of your minutes. I highly recommend choosing Republic Wireless with plans starting as low as $10/month and phones like the one seen here.

 

 

10. Give some of it away

At first this doesn’t make any sense. You are suggesting in order to save money, I give some of it away. Exactly. This goes beyond simple math and goes to a whole different level of money. Find someone hurting, someone in need, a church, or a cause you are passionate about and give just a little bit of your money away. There really is no logic behind this, but just try it out. It is crazy enough that it just may work.

 

If you Like it, Please Share it!

As always, I first want to thank you for reading this blog because this means you are reaching for awesome with your money! I will keep putting content out there for anyone to gobble up and implement right away, however if you could help me out by sharing this post on your favorite social media platforms, it would mean the world to me ! Just click on any of the social share buttons at the top or bottom of this post and you’ll be giving me a virtual fist bump, high-five, and a pat on the back. Thank you again and again!

Be good to yourself, your friends, your love, and BE GOOD TO YOUR MONEY!

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15 replies
  1. Xan
    Xan says:

    You are so right! We already do many of these things, but you have given me even more great ideas to save $$. Thank you and keep spreading the word. The next generation coming up needs to hear this just as much as we do.

    Reply
      • Sharon
        Sharon says:

        I’m really interested in the HD antenna; however, have no idea how to get something like that installed. Don’t think climbing a pole or going on my roof is recommended at 66.
        I’d live to say goodbye to Cox, $145 pm.

        Reply
        • Jenn
          Jenn says:

          sharon – you can buy the antenna at any store (best buy, Walmart, target, radio shack, etc) it just attaches to your TV like old bunny ears. It doesn’t go outside your house. Chris had a link in his story too…regarding the ones he recommended. It is very simple. If you have an older TV you may need a digital converter box, but you can pick it up right next to the antennas.

          Reply
  2. Ryan Pass
    Ryan Pass says:

    Chris.. I would enjoy chatting with you with regards to your thoughts and suggestions on financial planning with regards to retirement and pensions. I don’t want to get in to too much detail on here, but I’m sure you are aware of PSRS..

    Thanks

    Ryan

    Reply
  3. Nadine Cherry
    Nadine Cherry says:

    This is so good what you two are doing…. We are retired and it is hard to live on less, but it is possible. We have to cut where you can, so you can enjoy what you want….. God Bless you…..

    Reply
  4. Jody Terry
    Jody Terry says:

    Chris, I watch your wife everyday and I have changed my quality of life with some of the things she discusses, like Paleo and only spending X amount of dollars on clothes. My boyfriend and I are going to start serious budgeting based off what we are learning. I think one time, Andrea may have mentioned lowering our electric bill by keeping our house colder at night…but I just can’t remember what it was exactly she said.

    Reply
    • Peach
      Peach says:

      Jody, we have found a way to save money on our electric bill. We are on the noon – 7pm plan, which means we cut back on our electricity usage during this time period. We keep our house as 80! But, at 7:00pm we turn it down to 74. This sounds crazy, but our A/C unit turns on once and runs for a few hours to get the house cold. It will maintain 74 until noon the next day. At noon (the expensive time) the unit will remain off because it has to warm up to 80 to kick back on. A/C units draw most of their power during the startup. This method has decreased the number of times the unit starts up – and thus cuts $$ from our electric bill. Wow, that was a long reply! I hope this helps, good luck and thanks for reading!

      Reply
  5. Sheryl
    Sheryl says:

    Everyone should read Dave Ramsey’s books….my husband and I have been on his plan for years…we were able to retire really early because we “lived like no one else”- we lived off of 1 pay check and saved the other…paid cash for everything… and now we “live like no one else”…..

    It’s good to see a younger generation getting involved with saving money instead of trying to “keep up with the Jones'”

    Keep spreading your ideas and hope that more people get on board.

    Reply
  6. Eric
    Eric says:

    I just found your blog today and have really enjoyed your articles, thanks for posting them. While I agree that cutting cable is a better financial solution, if people aren’t willing to completely cut their cable, they can call their provider to see if there are any current deals with that company. I did this and saved about $40 a month. I had to sign a one year contract, but I was going to keep that service anyway.

    Reply
    • Peach
      Peach says:

      Eric,
      Thank you and i’ll agree that they will lower the bill for you if you threaten to leave them. However, cutting the cable is often a drastic thing to do – and I think it causes you to really FEEL you are taking that next step towards financial freedom. Either way you look at it, you’re saving money. Saving money is always cool. Always!

      Reply
  7. Wilma
    Wilma says:

    Hey Chris, excuse me! STOP BRANDING “YOUR PURSE TO DEATH”…this about just killed me. I laughed out so loud, I think someone is going to complain about me to management tomorrow. LOL. Hey, I love my COACH. But I get the purses from the outlets! Pls give me kudos for that…? Anyway, other than that comment, i enjoyed reading the article. You are so practical it’s a joke! I’ll be honest, most of my dresses cost probably around 50$ a piece (and I get them from Ross out here in Santa Monica). It is a real bargain. But, i have some really beautiful dresses that i have bought from Ross for 7.99$-16.99$. I am Kenyan, everything ends up translating into Kenyan Schillings, so i do care and do the math quite often. If i ever spent a 100$ on a dress in Kenya, i can see my mom’s eyes and won’t even dare…LOL. Love your articles.

    Reply
    • Peach
      Peach says:

      Wilma,

      You of course get kudos for getting a deal. I want you to save money to go out and buy “stuff” because buying “stuff” is fun, right?! However, if you can buy stuff, stay out of debt, AND get a deal, then that is the icing on the cake 🙂 Great job to you AND your mama for keeping you accountable to your purse and wallet!

      Reply

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