What would you do with an extra $625 a month? You could put that money towards credit card debt or build up your savings account. We're talking $7,500 a year, and you don't need to get a raise or start saving dryer lint--you just need to cut back in little ways that add up. Try these ten tips for saving up to $625 a month.
1. Make fewer trips to the store. If you are going to the grocery store more than twice a week, chances are you're spending too much. By only going to the grocery store once a week, with a list, you could save $50 a week (cut out those little $25 trips).
2. When making your grocery list, refer to the store's circular and plan your weekly meals around what's on sale. You could save another $25 a week.
3. Cut back on eating out. If you cut out one meal out a week, you can save at least $25 a week.
4. Drive less, plan your trips wisely. You could save a tank of gas a month, or at least $10 a week.
5. Cut back on cable. Chances are there are plenty of channels you aren’t watching. You could cut another $25 a month from your budget.
6. Shop around for car, home, and life insurance. If you cut $10 a month off each of these, that's $30 a month.
7. Eating lunch out more than once a week? Cut out even two times of eating out a week and you'll save $50 a month.
8. Instead of going out for drinks once a week with your friends, host a wine night at your house once a month. You can still have your nights out the other three weeks of the month, but save at least $25 a month by having a BYOB get-together on that fourth week.
9. Bypass the coffee store. Treat yourself once a week rather than three or five times a week. Cut out two lattes a week and save $25 a month.
10. Try to shave $10 a month off of your water, electric, gas, phone, and other utility bills that fluctuate month to month. You'll save at least $30.
If you follow all of these tips, you can save $625 without changing your life all that much. Even if you followed some of these tips, imagine what $500 a month could do. The little things add up.