Sharing Daily Discoveries About Personal Finance And Business Topics

Taking Savings Seriously With Your Necessities Too

I found this conversation kind of funny today. Essentially, there was a person who was trying to find ways to save money. So the first step was to lay it out all to see where all of their money was going to and from there we would try and see where they could save money. As usually you saw things such as regular household expenses and non necessities. What I thought was interesting was how in the category of necessities the person had an attitude of since it is a necessity there is nothing you can do about it. For example, like the electricity bill.

However, after looking at the bill itself it did seem kind of high. Sure enough, if you looked at the person’s house he did so many things that was simply wasting a lot of money. For example, having chargers still plugged into the wall, which actually still uses electricity, or having a habit of leaving the computer or lights on even when he is not using it. While it may not seem much, it definitely adds up.

I suppose the same can be said for even like groceries. If you seem to be paying a lot, similar to hunting for the best deal for TV you should shop around. Thinking just because it is a monthly essentially that there is no way you can do anything to save more money is a mindset that should be fixed I think. If you spend as much time looking for the best deals when it comes to non essentials you can easily apply that financial savviness for your life essentials too.

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