How are you doing saving?

Was saving money one of your 2013 New Year Resolutions?  If so, how is it going?  We are now through January and if it is not going as well as you planned, don’t worry, you are not alone. According to an article published by Reuters in the fall of last year, nearly 2/3 of us living in the U.S. live paycheck to paycheck.  These percentages are humbling. With this many  Americans struggling to make ends meet, it’s more important than ever to make smart financial decisions and save where you can.  Below are 5 simple suggestions that can help you save a few extra bucks. 

1. Brown-bag your lunch every day to work.  You could easily save $25 per week. That's a savings of about $1,300 per year.
2. Use your local Public Library.  The average American household spends about $200 per year on books alone (U.S. Census Bureau), most of which could be borrowed for free.
3. Drink tap water.  Restaurants and fast food carry-outs mark up their beverages  far more than their food.  Based on U.S. Census Bureau data, the average family of four could save about $800 a year by drinking tap water when they dine out.
4. Stop smoking. Aside from the health benefits of quitting smoking, don’t forget about the financial incentives.  Buying a pack of cigarettes per day will cost you on average about $2,000 a year or approximately $100,000 over 50 years.
5. Try to do repairs yourself, before hiring someone. Use free resources at Home Depot, Lowe’s, and internet sites such as YouTube to help you.  With a little help and self motivation, it’s remarkable how simple some home or car repairs can be and the amount of money that you will save.