Stretch Your Dollar

There are tons of ways to get more mileage out of the cash you already have. Check out these tips to make the most out of every single paycheck.

Hold onto your cash: Instead of depositing funds into your checking account, withdraw all cash that doesn’t need to be spent on paying bills. Take the cash and divide it into the categories you need and the places you have to spend. When we actually see cash leave our budget and our hands, we know the answer to the question, “Where does my money go?

Save Your Change: Rather than discarding your change mindlessly, put it in the same spot each time. For one month, save up all the change you’re given or start a change jar and pay for purchases with quarters, dimes, and nickels. If you start to save your change, turn it in every six months or so and see how much you’ve saved!

Make a List: Stick to your list when you shop. Every time you go into a store, write out a list, keep it in your hand. Even if you’re stopping at the pharmacy and the coffee shop quickly jot down what you plan to purchase: cold medicine, hand lotion, floss, and coffee. Once you have your list, stick to it.

Ladies Tip: Ladies, if you want to save a handful of cash on every trip to the drugstore, get the guy version instead. A study conducted by the New York Department of Consumer Affairs found that, across 35 product categories, women’s products cost more 42% of the time. Next trip try switching out a women’s shaving cream for the men’s version. It won’t interfere with the quality of your shave.

Meatless Monday: Try giving up meat once a week. Serving a veggie fajita or a grilled cheese can save you between $5 and $10 every week. Over a year, this can add up to more than $500 in savings, enough to jump start your emergency fund.