VIDEO ON MSN MONEY
IT is truly amazing the amount of money you can save by making the effort to break the "eating out" habit.
My wife and I used to eat out quite regularly, nothing fancy just pizza, diners etc. Our New Year's resolution was to cut back on this. We've been doing this now for a couple of months and I really cannot believe the amount of money we've saved.
The big problem when you eat out a lot is it does turn into a habit, you get lazy because it's easier to just go out to eat..
Also many restaurants now have coupons for buy one get one free or a 20% discount when you spend $20.00 or more. Many offer a 20% discount to AARP card holders.
So even when you do decide to eat out there are savings available. All it takes is a small amount of planning ahead of time.
Be careful, though. At Sunoco, I saw an ad for a credit card that gives a $0.5 discount per gallon. That's a savings of only about 1.35% (or less than $4 savings on $250 of gas). Don't let an offer like that fool you into thinking you are saving much.
The breakdown of how I spend:
No cable (Tv Antenna 0$ after antenna and converter) Internet only ($60) (netflix,hackle,xbox.hulu..some have fees)
House $523mth (bought foreclosure, this includes escrow)
Car/House insurance: take a defensive driving course ($75 bucks in Ga, and minimum 10% savings by Ga law) and up the deductible.
Car: $0 paid for (took a while paid of 2 years early)
Grocery bill $100 or less per month (plan and eat before you shop)
cell phone $62 (will switch to StraightTalk when my contracts up $45)
Gas $70 month (I only live 6 miles away)
Power bill $85 a month (yes heat and air are both used seasonally GaPower is raising rates 1.5% this year and next)
propane: 200 gallons a year ($2.39 a gal last year)
If you live closer to the south think of switching to a heat pump...it works marvelous!
This is just a few of the things I've done with my money. Everyone's situation is different. In order to build wealth you not only earn it but you have to learn how to invest and save at the same time.
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