ANNUAL DISCOUNTED EXPENSES
How To Cut Your Household BudgetConsumer guide to frugal living. Discount and money-saving household budget and personal finance strategies. Reduce living and home expenses with no extra work and no change in your lifestyle once you learn all of our simple easy tricks.
By $5000 A Year
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1.2 ANNUAL DISCOUNTED EXPENSES
Real world estimates of how much money you and your family can save with these discounts each year: #1. Buy 1/2 store brands = $ 750 #2. Stock-up at best price = $ 400 #3. Save on electricity = $ 350 #4. See below #5. Cut telephone costs = $ 200 #6. Credit card savings = $ 200 #7. Buy more merchandise used = $ 500 #8. Buy private label clothes = $ 400 #9. Cut Christmas expenses = $ 400 #10. Get refunds = $ 600 #11. Use company benefits = $ 400 #12. Lower travel expenses = $ 200 #13. Raise insur. deductibles = $ 400 #14. Pay less for insurance = $ 200 #15. Low cost govt. services = $ 150 ====================================== Total =$5,300 Plus: #4. Drive car one more year = $1000 (This savings only applies if you have an older car you were thinking of trading in.) NOTE: These savings are estimates based on the best information available at the time of publication. SAVVY-DISCOUNTS.com e-mail Newsletter estimates these savings for an average family of four, with a household income of $30,000 a year. However, the dollar amount saved can vary substantially. Some families could save much less, some much more. Others will save a lot more in some areas and less in others.
1.2.1 SAVING $5,000 IS LIKE GETTING A RAISE OF $10,000 AT WORK
Every dollar you save is equal to about two dollars income from work. See end notes in Chapter 17.
When you get a raise, your new income is taxed at the highest tax bracket for your income level. You'll pay federal income tax, FICA, and state income tax.
When you save a dollar, it's like earning money tax free. In addition, you'll save sales tax and any credit card interest you might have incurred.
So saving $5,000 is really like giving yourself a raise of $10,000 with no new work responsibilities and no new work pressures.