Identify wasted money

We all do it; there's money we waste without thinking every month. We spend money on gourmet coffees on the way to work, we pick up bottled water when we're rushed, we spend too much money for prepared foods or elect to eat out. If you can identify these common areas where you waste money, you can curb your spending and have additional cash for saving for retirement, vacation or a new car.

Don't leave money on the table

Be on the lookout for cents off coupons, rebates and even rewards on your credit cards. If you have credit cards where you get cash rewards, use those cards if you're forced to use credit. Coupling cents off coupons with store sales and rebates can save you hundreds of dollars a year. Take the time to comparison shop whenever possible; you can do this easily online these days.

Bring entertainment home

Rather than spending a night out with friends or family members, plan a night at home. Today you can often get low-cost movies online, and if everyone brings a dish you have an inexpensive night with friends and plenty of good food.

Saving around the house

There are hundreds of way you could be wasting money around your home. First, take the time to make sure you're buying the upgraded CFL lightbulbs; these bulbs can save you about three percent a year on energy costs. Consider getting rid of your telephone land line; many wireless carriers can offer you considerable savings on a monthly plan that makes a home phone less cost effective. Don’t forget, in most cases, you can keep your phone number.

Save on monthly household expenses

Check with your utility companies including phone, cable and electric providers for discounts. Some may offer a discount if you pay several months (or a year in advance). While this may require some upfront cash, the savings could be considerable.

Saving on groceries and other items

In addition to taking advantage of cents off coupons, sales and rebates, consider buying staples in bulk. Also consider looking at generic brands or store brands which are often as high a quality as name brands and can save you hundreds of dollars a year.

Money management, budgeting and reaching your savings goals are all important. Once you've identified the areas where you can save money on a regular basis, you can start thinking about your long-term goals including home ownership, a new car or saving for college. Contact a Member Financial Representative and see how Oklahoma Central Credit Union can help you reach your financial goals.