View Post

How to Save Money Everyday in Six Ways

In Budgeting Tips, How to Save Moneyby Phil McGilvrayLeave a Comment

In our previous blog we discussed the ‘Golden Rule’ of financial management – “Your income must always be greater than your expenditure”. It sounds simple enough but it can be really hard to do; life is always far more expensive than we would like it to be! In this blog, I will take you through the 6 most common areas of over expenditure and outline some strategies for reducing these costs in your budget.   1 : Debt Repayments Most of our members come to Grandma’s Jars with some form of personal debt so it is not a surprise that this is a key area of expenditure. The problem with taking on debt today is that it robs us of tomorrow’s cash flow. The more debt we have, the less free cash flow we have available to save, accelerate repayments on existing debt, or pay cash for items in the future. Helping our members eliminate lifestyle debt from their lives is a primary objective for Grandma’s Jars. Here a few quick strategies: It sounds obvious but needs to be said- no more debt; debt is a habit – break the habit by committing yourself to taking on no more debt! …