Author: P.J. Yates [S. Director of Marketing]
Read Time: 5-Minutes
It happens more than I would like to admit: A weekend has gone by, and I’m left wondering how @#$% we spent so much money when all we did was go to the grocery store, Target, and make a run to Chic-fil-a. Whether you live the Dad Life or Mom Life, or paycheck to paycheck or are seemingly in control of your finances but wish your savings accounts were bigger for an emergency fund, vacation fund, or new house fund, little changes could be enough to notice big changes.
To Kickoff 2022, I put together 10 simple Dad Life Hacks to save you money this year. Why, 10? Well, anything past that number would put you to sleep while reading this blog. The #1 goal is to eliminate all of the little things that don’t seem to be a big deal but add up.
- Cut memberships and subscriptions
How many monthly subscriptions do you have these days? Between streaming channels, magazines, shopping subscriptions, and others, you may be spending far more than you think. For example, I cut cable and started streaming to save money. But then I realized all of my streaming services - Netflix, Amazon Prime, HBO Max, Hulu, Starz, and YouTube TV - were costing me as much as cable. So total up all of your subscriptions and memberships to see what your monthly payments really are and cut back on those you don’t need. There are even apps that help you find all of these for you.Verify my mortgage eligibility (Sep 30th, 2022)
And take a look at your gym membership. Are you using it during COVID? How often? Examine your monthly membership cost to the number of days you go to see what you are paying per visit and decide if the price is worth it or maybe it’s time to build your home Muscle Head Corporation gym as I did.
- Use coupons
Gone are the days of my grandmother sitting around the kitchen table clipping coupons from the newspaper. Apps make it easy to save by automatically finding your coupons on things you shop for regularly. My wife has an app for every place we shop and has access to hundreds of coupons online that you can find and have scanned straight from your phone. Although you won’t save a ton of money, nickel, and dime savings every time, your shop adds up! Make it part of your spending habit to use these apps.
- Pay cash
In this day and age, spending with cash is less common. It’s much easier and faster to use our phones and debit cards to pay. However, as much nickel and dime spending, I do to schmooze my kids, I can tally up some heavy expenses in just a few days. And using a credit card comes with the age-old saying: Out of sight, out of mind. When you pay with cash, you are more aware of how much you have and where it is going and are much more likely to spend less knowing your funds are limited, which keeps your credit card debt in check.Verify my mortgage eligibility (Sep 30th, 2022)
- Shop seasonally
This is a #MomLife hack that I can’t take credit for, but my wife does great seasonal shopping for the family. The Walgreens down the street is constantly stockpiling seasonal items at the end of every holiday. We make it a point to go there a day after a holiday to stock up on decorations, costumes, games, and of course, candy. We also try to hit other retailers like Target and Dollar General to take advantage of significant price drops.
- Get cashback
If you will use credit cards, there is no reason to use one that isn’t giving you cashback and rewards. (Who couldn’t use extra cash?) So seek out cashback credit cards like Discover or American Express Blue, which will give you 6% back on all grocery purchases. But be smart about using credit cards and use them only when receiving enormous rewards. If they don’t give you something in return, use your debit card instead. And remember to pay off your purchases each month; otherwise, the interest you pay could negate the reward.Verify my mortgage eligibility (Sep 30th, 2022)
Raise your hand if you eat out or get Doordash more than once a week? We see the flood of hands. With this challenge, it’s all about saving money on food. Start by cutting out one day a week of getting food from restaurants and keep trimming down until you get to once a week as a treat. Learn how to prep your meals for lunches and to help you avoid the tired, end-of-the-day “I don’t feel like cooking” scenario. The struggle is real on this one!
- Spare change
You may have seen your father do this back in the day. When he would come home, he’d empty his pockets and put all of his change into a jar. Laugh all you want, but I saved $300 in change over 26 months by doing this and purchased my son a Nintendo Switch with the funds. Nothing better than being surprised with a nice nugget of cash.
- Pay yourself first
This one is simple: when you earn money, immediately sock away 20%, and the rest can be spent on whatever you need or want. You don’t have to track your expenses with this budget, but you’ll adjust your lifestyle to spending 20% less than you currently do.Verify my mortgage eligibility (Sep 30th, 2022)
- Refinance your mortgage
You may not need to wait a lifetime to turn your dreams into a reality. Home improvements can be funded with refinancing! Refinancing is simple and allows you to alter the terms of your loan. An improved credit score is one of the main reasons you may wish to seek a refinance loan. Click here to learn the pros of refinancing your mortgage.
Quick recap! Minor changes have a way of adding up, and by trying any of these methods to save, you may find yourself saving more than you expected to and starting on a path of saving more than you spend for home improvements. Thanks for tuning in! If you are looking for more smart buyer blogs, visit our resource center.
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