Hanging Onto Your Money in 2019

woman holding money

Budgeting your spending to avoid over-spending is a mantra we all hear from the “experts,” but it takes a lot of fiscal discipline to pull off. Don’t despair! Following are a few fairly painless ways to accomplish the same goal: Holding onto your money!

  1. Make a List and Stick to it!
    How many times have you headed to the store to pick up milk and ended up leaving with bags full of other items? Grocery stores are designed to trigger impulse purchases, typically putting milk in the back of the stores, forcing you to walk by end caps and sales displays to try get more of your cash. To avoid being tempted by these targeted displays, make a weekly grocery list and don’t deviate from it. You will be amazed how much money this saves and you won’t have items in your pantry you had no desire to purchase in the first place.
  2. Eat Most Meals at Home
    Take the grocery list one step further and commit to having more meals at home. Reserve eating out for special events or once or twice a month, saving you money and gas, and also avoiding a few 15%-20% tips that you would normally pay out to servers. Afraid to cook? Don’t be! There are countless websites/on-line videos that can teach you how to make healthy and tasty meals in the comfort of your home, and you can freeze any fresh leftovers for future “free” meals.
  3. Review your Cable/Satellite Plans to Look for Ways to Cut Costs
    Many of us have cable/satellite TV with requisite packages we were forced to buy to obtain these services. Track your viewing habits for a few weeks to see which channels you really use, and trim your TV packages accordingly. Many streaming services are now available with low monthly charges where you can purchase the channels you want and not those you don’t.
  4. Practice Not Spending for a Few Days a Month
    Try to avoid spending any money at all for one, two or three days a month, then add a day or two more as you get accustomed to this task. Put any money you don’t spend into an F&M Bank savings account and watch your dollars grow!

These are just a few ways to save in 2019! Need more ideas? Give us a shout! We’d love to hear from you.