Tips to Create Extra Room in your Budget

Millions of Americans waste millions of dollars on things that are completely useless. Buying tasteless nick knacks, a movie that sits in the back of the closet, and among other things that we really don’t need, or want. Reducing useless things can save many families hundred or dollars a year. Times I even find my self buying things that I will never use. Before you go buying that $1 lawn gnome, ask your self, do I really need this?

Coupons may seem time consuming, but these little pieces of paper can be worth gold. Many coupons offer up to 5 dollars off a new product, and others may offer buy one get one free. Others coupons may seem measly, 75 cents here, 50 cents here, but when a family goes through thousands of items a week, it adds up. Several thousands of dollars can be freed up this way.

Paying off high interest credit cards can save families a lot of money a year. If you are not able to pay off the credit cards, transferring balances from high interest credit cards to lower one can save families big. Also if you are a home owner, a home equity loan is a viable solution. Most of the time home owners can take out money based on the value of your house for a lower rate than credit cards. Be warned though, default on these loans and you can lose your house.

Replacing old appliances with energy efficient ones can save you big. Although the initial purchase cost may be high, the savings over time will be substantial. And using less energy will produce less CO2 and slow down global warming. The best appliance to replace would be your refrigerator, and your water heater with a tank-less water heater. With a tank-less water heater you will also never run out of hot water. Another double plus. Using compact florescent bulbs can also save up to 75% over incandescent bulbs.

Freeing up money can not just be accomplished buy doing one thing, it takes many things to make a difference. Plus every one in the family also need to pitch in and turn off electronics when not in use. Among saving money, we can also help out the environment a little. A little work can go along way.