Seeds from A to Z
"The wise also will hear and increase in learning, and the person of understanding will acquire skill and attain to sound counsel (so that he may be able to steer his course rightly)." (Proverbs 1:5)
You likely want to reduce and get out of debt, and you may be implementing some efforts to do so. This month I would like to trigger your brain-storming abilities with 26 ideas - seeds you can plant right now to either get you on the path or to provide additional leverage towards becoming debt-free.
Apps - from GasBuddy, ibotta, Grocery iQ, Coupons.com, RetailMeNot, SnipSnap to many more, there are convenient and fast ways to save on everyday purchases.
Bring - bring coffee, snacks and lunch with you to work a portion of the week. Bring soft drinks, water and snacks to events to avoid paying high prices there.
Coupons - it takes just a minute to flip through the ads and clip out savings to stretch your food budget each week.
Deductibles - consider raising your insurance deductibles for auto, homeowners and medical coverage. Do annual research to ensure you are receiving the best value.
End of season - leverage the retailers' need to remove seasonal merchandise, saving 25-50% or more. You cannot see that % level of return on any investment you make.
Frequency - repeated expenses should be looked at closely for areas to reduce or eliminate, for in doing so you will reap the benefits each week/month.
Generic - consider and try the store brand items. Most are made at the same factory as the national brands and also offer 100% guarantees of satisfaction, so there is nothing to lose.
Humility - our pride influences us to making unwise financial decisions. Worrying about others is a snare to avoid if we are going to advance towards becoming debt-free.
Install - putting in caulking, weather stripping, sealants, programmable thermostats, insulation and energy-efficient items will save money for us each month.
Joy - Jesus endured the cross for the joy set before Him. Think about the joy of experiencing each debt going away, it will encourage you through this process.
Keep - keep a running grocery list at home - it will help reduce extra trips, and when you are at the store stick to this list and avoid impulse purchases.
Library - in addition to books, for entertainment they have videos and music all for free. You've already paid for these items with your tax dollars, so go take advantage of them.
Monitor - your credit card spending. Go online and view your charges weekly, so you can stay within your budget and avoid a surprise when the bill arrives at the end of the month.
Needs - sit down and soberly assess what are your needs vs. your wants. Make quality decisions to prioritize your spending based on this and your goals to reduce debt.
Online - many national chains offer free and discounted meals by signing up with them online. Entertainment.com and Groupons can greatly reduce your dining and leisure expenses. View it as they are paying you to eat at their restaurants versus a competitor.
Pre-owned - before just automatically buying new, look on CraigsList and other sites to see if a suitable used one is available. It's very easy and can save you a bundle.
Quit - look at what memberships or subscriptions you are not using or getting value for, quit them and use that monthly savings to pay down debt.
Research - for substantial purchases, go online for reviews and specifications, or to your library to see Consumer Reports recommendations - they will steer you to the right brands.
Set - set limits on gifts that work with your budget. It can be tempting to go overboard, but remember it is the thought that counts, and not necessarily being extravagant.
Tithes - our first priority is to honor the One who created us and keeps us. The Lord promises to pour out a bountiful blessing to those who are faithful to Him (Malachi 3:9-10).
Used Cars - consider going used and saving as much as 40% for a 3-year old model. Utilize Consumer Reports recommendations for the most reliable models.
Vending Machines - should be avoided along with convenience stores. Planning ahead to bring beverages and snacks can keep us from these very expensive alternatives.
Wait - before making a substantial or discretionary purchase... wait for at least a day or two. This will prove how much you really want it and helps prevent having regrets afterwards.
X-Ray - tracking and viewing every expense is what I call an X-Ray. As it illuminates all of the hidden areas of spending we lose sight of. This is the single most beneficial task you can complete - it will stun you in some areas and show you exactly where you can change.
Yourself - realize that YOU have the power to make the changes which will change your path towards financial victory. The smallest positive result will show that power to you.
Zero Balance - make a goal to focus on your smallest debt, and stay on that one debt until it is at a zero balance. Then take that payment and move towards the next smallest debt.
Lastly, in considering these ideas as seeds you can plant, take this verse with you as an encouragement to stay the course: "And let us not lose heart and grow weary and faint in acting nobly and doing right for in due time and at the appointed season we shall reap, if we do not loosen and relax our courage and faint." (Galatians 6:9)
God Bless you and may He show Himself greatly to you,
Paul
