Organize More

1. Pay Yourself First

On a weekly basis, pay yourself $25-$50. Think about it this way, if you paid yourself $25 a week, in two years you'll have accumulated $2600 (not including interest)!!! That's from just putting $25 aside every week! Take advantage of this money-saving opportunity. Simple, yet very effective.

2. Don't Shop

Before you spend a single dollar on anything, ask yourself, "Do I really NEED this item, or do I just WANT it??" You may find that many of the items we purchase, we do so just because it "caught our eye" or it was "an impulse buy" or "my friend bought the same thing". All these excuses just add up to wasteful spending. You can probably get by without another sweater, or a new pair of jeans, so just buy what you really need.

3. Use Your Bank's Own ATMs

Some banks charge you money for using other ATM machines. Even though you will be able to withdraw money using your ATM/debit card from literally any machine, banks will charge you $2 (generally) for using a machine other than theirs, in addition to a standard $1.50 charge the machine charges for its use. In other words, if you use the ATM at your local convenience store to take out $20, you'll most likely end up paying $3.50 in additional charges! If you do that 5 times a month, you'll lose $17.50 for that month, or $210 per year! Refuse to pay for your money and use your own bank's ATM.

4. Track Your Spending

Take the time to track your spending habits for one week. Take note of every single dollar you spend, even those sodas and candy bars purchased here and there. This will give you a good idea of exactly where your money is being spent, thus allowing you to refine your spending habits to essentially save more money.

5. Lower Credit Card Balances

Pay off those pesky credit cards as soon as possible because paying all of that interest is like throwing away your hard earned money.  Pay the higher interest cards first and with the largest payments. Keep chopping away at the balances until they are gone.

6. Use Your Debit Card Instead of Credit Cards

Get in the habit of using your debit card instead of your credit cards. Debit cards are accepted almost anywhere a credit card is accepted.  With a debit card the purchase is taken directly from your checking account without accruing the credit card interest rate.

7. Roll-Over that Retirement Plan

When people change jobs/careers they will be faced with a decision to either "rollover" their retirement plan or to withdraw it. It will be ever so tempting to withdraw the money since it will be a substantial amount, but don't! You will be charged fines and penalties for an early withdrawal that will cut YOUR total by 40%-60%! That's like giving half of your earned retirement savings away to a stranger. Just roll it over.

8. Avoid Getting Too Many Credit Cards

The most anyone needs is 1-3 cards to build credit, establish yourself, and for emergencies.

9. Check Your Credit Score/Report

It's important to know where you currently stand as a consumer.  Your credit report is the most important list of your financial past and present and it's a very good idea to check it from time to time (at least yearly).  Once you access your report, look through it carefully to ensure that all the information is accurate. If there are any discrepancies, solve them as quickly as possible to improve or maintain your credit rating.

10. Review & Revise

Once you start implementing these tips and become more familiar with the money saving opportunities that exist, take the time to REVIEW your progress. Check and see where it may be possible to REVISE some of your techniques or where you can implement new ones. The more frequently you review and revise your saving ideas, the better the shape of your finances!

When I need a little financial "pick me up", I read The Simple Dollar.  Check it out.