Finding $50 of Additional Savings In your Budget



Very often, people think that they are so extended that they don’t have enough money to save. Before you make that statement about your finances, look at the seven suggestions below on ways to find an extra $50 or more in your budget that you can use for saving or investing.

Track your miscellaneous spending – Many people don’t realize how much frivolous spending that they do like buying $4 to $5 coffees daily, or purchases from the value menu at fast food restaurants or even picking up a quick snack when they get gas. These small purchases add up. Track your spending for 30 days and observe how much of your dollars are spent on miscellaneous spending.

Reduce use of your debit card and start paying cash - Paying cash helps you better control what you are spending because you are limited to spending what cash is in your wallet. In addition, when it comes to purchasing gas for your vehicle, the price is cheaper if you pay with cash in lieu of using your debit card. This also lessens the chance of NSF fees, which can reduce the margin of error in your budget.

Review your cell phone bill - Often times there are unverified charges on your cell phone bill that are excessive and unnecessary. An example would be being charges for additional GB/Data when your standard plan is sufficient for your needs. Why pay for additional data if you’re not using it. This is often a $15 savings at least off your cell phone bill. We’ve seen it and want you to stay aware.

Review your Grocery receipts - How many add-on items are on your receipt that weren’t included on your initial grocery list? Did you really need those extras? Look to trim the fat (Extra stuff) from your grocery bill by looking out for this and see how additional funds can amazingly appear in your monthly budget.

Review your Homeowners and Car Insurance – Paying annually instead of monthly can result in a 9-10% savings. In addition, if you bundle your car and homeowners insurance together with one provider the insurance carrier will discount your coverage rates. We must shop smarter for the best available discounts.

Review your media package – These days, most people who have cable are paying no less than $100 a month unless they are paying the introductory rate. There are many other streaming options available today that are much cheaper like Netflix ($10 - $13 per month), Hulu ($8-$40), Sling TV ($20), Direct TV Now ($35), YouTube TV ($40) and Amazon Prime ($12.99 a month or $119 annually). You can even stream HBO for $16 a month online. You can customize your internet and media package and still be under $100 a month.

Switch Land Line Phone Service to Budget Plan - If you still have a Land Line phone, switch to the budget plan which will eliminate call waiting, caller ID, *69, long distance and you will be limited to making 50 calls a month but it will cut your bill in half. With everyone making the cell phone their primary phone, these features are no longer in high demand.

One Final way to find an Extra $50 dollars for bills or investing is to refer five people to DNA Financial Services for Personal Financial or Small Business Services. Contact us for more details.

Founded in 2015, DNA Financial Services LLC has pledged to Educate, Empower and Equip the financial DNA of its’ clients now and for generations to come. The company offers a number of financial services designed to bridge the gap in wealth building education while aiding and advocating for the financial literacy of people from all walks of life.

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