Wednesday, April 18, 2012

Simple Savings Tip Wednesday!

How to save as a couple?

In today's economy, there has to be a way for couples to save and still be able to enjoy their favorite activities. It does depend on your spending and savings habit.  Start to brainstorm if you have a concern in this area with your mate and be creative on strategies to reduce the financial stress.  Enjoy some of these great tips that couples can use when continuing or learning how to save!

* Track your spending and start to pay yourself. 
   Tip- write down where you are spending your money and rearrange or cancel those services or unnecessary items you really don't need. Try to pay yourself at least 10%.

*Create a savings account that you have together where you can place all of your saved money together.  At the end of the year, go on a nice trip or do something you really love.

* Consider reducing living expenses.  Start to combine rent payments and  use the extra money to pay off debts.

* Sell items that you really don't need anymore.  Get rid of those unused clothes, shoes, etc.  Place your money in your new savings account. 

*  Plan a date night.  Do something simple together that is not expensive.  Here are some examples, walk in the park, at home movie, dinner at home, cook together a new recipe, etc.  Create a special day during the week that you can have time just for yourself.

* Communicate! Communicate! Communicate!  Talk to your spouse about the budget and what you have financially for income.  Figure out your strengths and weaknesses.  Learn who will pay the bills and build on the strengths but research concerns on the weaknesses!

* Pay cash for everything! Try to charge any items even for larger purchases. Save for the items you really want as a couple.

* Clip coupons! Shop online with our coupon database.

* Create a health savings account.  This way when there is a health need, you can go to this one specific account to withdraw funds.

* Save up for your marriage.  Decide on who you want to invite, colors, designer for wedding dress, honeymoon location, etc.

*Consider on combining cell phone bills instead of paying separate bills. 

Question - do you have a great savings tips for couples that you would like to share? 

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