Does it ever seem that despite your best efforts that money seems to simply disappear from your bank account? If so, you are not alone; this happens to millions of people. It is important to draft a budget and then to do your best to stick with it. You can find tons of free budgeting tools online, or simply use a spreadsheet of your own. Part of your budgeting efforts should be focused on saving as much money as you can. You may not know it, but there are some entertainment/tech products and services that may be draining your bank account quicker than you would like. In other words, there are some things you can figure into (or out of, as the case may be) your budget in order to maximize savings.
Here are some tech-related expenses that you may want to get rid of to start saving money right now:
Gone are the days when we all need to pay monthly bills for a landline. Unless you are in the minority of people who do not own cell phones, you should consider trimming the monthly landline payment from your expenditures immediately. It typically costs about $15 a month to have a landline in your home. But since you are already paying for a mobile phone that is money that could be saved. Think about 5 years without this extra expense. If you saved all of that money, you’d have an additional $900 (plus potential interest) in your savings or money market account.
Books, Movies and Music
We all love these standards of entertainment. However, it is easy to spend thousands of dollars a year purchasing these things. Even if you do all of your entertaining through digital outlets, you may still be spending too much. A great place to go to get all of these things for free is your local library. Of course, you know that the library has lots of books, but most offer e-books too. The majority of libraries also have decent selections of DVDs and CDs as well. If you’re not too picky, and are willing to expand your horizons, the library is a great place to go to save money and to score loads of great books, movies and CDs.
Every smartphone or tablet needs a few apps. These little applications help to keep you productive and they can also be entertaining. It can be simple to pay just 99 cents for apps and then to forget how quickly they add up. There are even apps that cost a couple of bucks or more. The thing is, for nearly every paid app, there is at least one free alternative. Sometimes the free apps don’t have all the bells and whistles, or they make you view ads. But these are small prices to pay in order to add potentially hundreds of dollars a year to your savings fund.
The Latest/Greatest Gadgets
Do you salivate every time a new iPhone, tablet or video game console hits the market? If you do, there’s a good chance that you are spending way too much on new electronic gadgets. If you can go without having the latest version of most tech products, you can still get new versions of the previous generation at a steal. This way you get to have loads of cool stuff, without paying the top dollar asking price that always come with these sorts of purchases. You can save thousands by simply avoiding the compulsion to always have the latest and greatest tech. All of that stuff will be old news in a couple of months anyway.