Today’s world is all about keeping as much money in your pocket as possible. Inflation and unemployment are making people look for more ways to save money. Anything from food, to gas, to entertainment, it is all important. Careful planning, looking out for sales and buying less are all ways of keeping that hard-earned money. Follow these 5 Tips to minimize spending & maximize saving!

1. Shop Alone
Taking children (or possibly even a spouse) with you while shopping could be detrimental to your budget. Going through your pantry and making a list of the things you need for the week or month is a must when trying to save money. Try not to buy duplicates of things if you will not use them in the next week. Decide on a menu – this will help you to buy only things that are absolutely necessary. You might also arrange your menu around how much time you have to cook. That will also narrow things down.

2. Family Game Nights
There are some great games on the market. Take into consideration the difference in money between buying a game and taking the family out to the movies. Movies run on average $7 per person – for a family of 4, that’s outrageous. Games can be used numerous times!  Of course, going out is also fun for the family, but it becomes more special when it is a rare treat and not a weekly trip. Not only does family game night save on the wallet, it also strengthens the bond between parent and child – making it a win-win!

3. Refinancing Works
Banks and home loan associations have lowered their rates to fit the economy, therefore making owning a little easier. Talk to your loan officer, shop around for lower rates and check out online sites. Always be careful and make sure you check the integrity of the corporation before giving personal information.

4. Update Policies
Is your life the same as when you first bought your insurance policy? Perhaps since then, something has changed or you simply need different coverage. New insurance companies have customizable insurance policies that could help you lower your rates. Sitting down with your policy and talking to your partner could lead to items that you had overlooked before, resulting in money-saving changes. Often, the older you are, the cheaper car insurance is. Try to find savings at your bank – they may have an incentive to open a new savings or checking account, but you have to ask first.

5. Is it Even Worth It?
When buying household items such as laundry soap, dish soap and toiletries, make sure you’re getting quality for your money. If the quality isn’t there, it’s a worse waste of money than buying name-brands. A name-brand laundry soap might make less loads but take less detergent, or clean better than the generic. Some generics however, do work as well as name-brands, it is just a matter of trial and error. You can also ask your friends and family for insight on this.

Kelly Mathis saves the most money by frequenting homeownersinsurance.org