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UMe’s Helpful Tips: Refresh Your Budget So U Can Save More

If your budget still uses old totals and some of your spending habits from the past, it’s time for a change!

Consider this a friendly reminder for U to update and renew your spending plan so that it matches what you need and want in the present day, making sure to set aside some extra money for higher costs and increases in prices. Also, remember to revisit your short-term goals and long-term plans… like retirement.

If you’re feeling tight on money now that you’ve redrafted your budget, or are newly motivated to want to save more for your goals or fun activities, there are ways to free up some extra cash. Here are some ways to make more room in your budget:

  1. Compare Prices: When shopping, consider buying store brands instead of name brands to save around 25%. Use tools like Basket and MyGroceryDeals.com to check prices before you shop.
  2. Make Smart Payments: If you spend a lot on things like gas, restaurants, or groceries, get a rewards card (like our UMe Visa!) that gives you points or cash back. Make sure to pay off your card balance every month to avoid extra costs.
  3. Reduce and Reuse: Try using what you have at home before buying more. Repurpose old stuff, like repainting furniture or mending clothes instead of buying new ones. Sell things you don’t need on eBay or Poshmark.
  4. Buy in Bulk: Purchase more of certain items upfront to save up to 25%. Non-perishable items like paper towels and batteries can be bought in bulk without worrying about them going bad.
  5. Cancel Unnecessary Subscriptions: Check if you have subscriptions you don’t use and cancel them. You can always resubscribe when you need them! Read this UMe blog post for helpful tips on how to save on some services!
  6. Negotiate Bills: Talk to your service providers about getting a better deal on your phone, cable, and internet bills. Shop around and don’t hesitate to ask for discounts. Check out this UMe blog post for tips!
  7. Save on Utilities: Lower your energy bills by adjusting your thermostat, setting your fridge and freezer to the right temperature, and keeping your water heater at 120 degrees.
  8. Save on Gas: Use Google Maps or apps like GasBuddy to find the lowest gas prices.
    • UMe Pro Tip: Keep your tires properly inflated and drive smoothly to save on fuel.
  9. Lower Insurance Costs: Shop around for insurance policies and ask about bundling deals. Paying annually instead of monthly might also get you a discount!
  10. Housing Negotiations:
    • For renters: Do some research. Talk to the property manager or landlord about reducing your rent based on what you find out with other local property pricing. You can also consider longer leases or paying a few months upfront for potential discounts.
    • For homeowners: Explore mortgage refinancing options for better rates with UMe! Think about downsizing or getting a roommate to save on housing costs.

It’s essential to find ways to save money in your budget by cutting unnecessary expenses and being smart about your spending. If you’d like some personal guidance, email or call us today! Our Personal Bankers are here to help U get financially fit!

Disclaimer: U matter to Me (all of us) at UMe — and that’s why we do our best to deliver helpful information on our blog. Please note the following: (1) UMe Credit Union works hard to make certain that the information we post here is as accurate as humanly possible. But as you know, information can change and evolve quickly. While we try to update the blog on a regular basis, the content of some older posts may not be correct or up-to-date. (2) Some destinations on the World Wide Web that we link you to will exist on external websites. UMe Credit Union does not officially endorse any connected sites, nor do/did we compensate or get compensated by any entities to be featured in our posts (unless otherwise noted). (3) Everyone’s situation is unique and we advise you to consult with our personal bankers or your finance, tax, or legal professional for advice individualized to you!

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