Lifestyle changes can help you save daily


People who are looking to save money often look for the big idea when in reality the greatest savings is found by making small changes in their lifestyle that can add up to significant savings over a year. Lifestyle savings often lead to more enduring saving habits than other ways people try to lower expenses.
Generally speaking, where can people find ways to save in their everyday life?
We all have three broad opportunities to save in our lifestyle, we have daily activities that we can change, we have monthly expenses that can be reduced and finally there are annual cost savings that we should consider implementing.  Each of these three areas have a number of opportunities to find savings.
What are ways to save daily?
There are simple moves such as brew your own coffee to eating at home more and that helps but the bigger savings come from having better spending habits. Shopping with a list and comparison shopping on all purchases are the two habits that have the biggest return.
How can we trim back monthly expenses?
We all have monthly expenses that deem to be fixed but in reality we can look at how much we spend on streaming services, mobile phone plans and even our utility bills. Lowering these monthly costs just by just 10% can add up quickly. Another thought, use a cash rewards credit card and earn cash back as long as you disciplined to pay it off each month.
Where should we look for annual saving opportunities?
Trimming annual expenses might be a little more time consuming but they often have big rewards. Consider shopping your auto and homeowners insurance or changing your coverages to score big reductions in your premiums. Right now, refinancing your mortgage is a very smart move and could lower your payment significantly.
If people are able to find savings, where should those savings go?
It should be used for two primary financial goals. First, building an emergency fund and the second is paying off high interest debt. Both of these uses will also pay big dividends down the road. If you start spending on different expenses, then the exercise of reducing your spending is really not worthwhile.

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