We’re all trying to trim costs and save more. Dana Dratch has a nice article at Creditcards.com, 8 ways to save money without feeling (much) pain. She interviewed me for the story. Here’s my thought:
3. Better meals, better prices. Cost of dinners out with friends draining your wallet? Opt for entertaining at home, says Chris Farrell, economics editor of “Marketplace Money.” You can have really nice meals and a really good time, but you’re much more frugal,” he says. And you can either freeze the leftovers or “everybody can leave with a doggy bag for their lunch tomorrow,” Farrell adds.
I liked all the suggestions, including this one:
5. Put your goals first. Saving for a big purchase like a car, vacation, home or just a sweet entertainment system? You’re smart to salt that money away via a direct deposit or automatic transfer to a separate account, says Doug Borkowski, director of the Iowa State University Financial Counseling Clinic. “It just disappears,” he says. “It’s out of sight, out of mind.”
Making savings automatic is always a good idea.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
