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5 Saving hacks that can help you save hundreds!

Just recently, I had a chance to teach a budgeting class regarding my book, It all starts with a budget! During the class, the participants were challenged to complete a financial fast to help save more money. I shared a list I often shared an article that I wrote some time ago, 21 ways to save.

If you are seeking to find savings in your budget and slash a few hundred, here are some steps can take now:

1. Review your insurances

One way you can slash a few hundred from your budget this year is to review your insurances. Shop around your policies and ensure you are comparing apples to apples to determine if you are getting the best price. Also, take time to speak with your insurance agent to have he or she to explain your coverage. Consider reviewing each policy to ensure you are not paying for coverage you are receiving from another insurance policy. Throughout this process, be thoughtful to ensure you are not eliminating coverage you may need.

2. Refinance your mortgage

Next, consider if now is the time to refinance your mortgage. Rates have declined recently, according to But before signing your name on the dotted line, do your homework. There are many great online refinance calculators that can give you an estimate if refinancing your property makes financial sense (and cents). These tools consider the length of your original mortgage, expected closing costs, prior and current interest rates and more. There is a great tool to use on that can help you explore your options. 

3. Consider a flexible spending account

Next, if your company offers a flexible spending account consider participating. These accounts allow you to stash away pretax dollars into an account to pay for qualified medical expenses. If you expect that you will have out of pocket costs for eyeglasses, medical examinations, prescriptions and more, you can save more money by utilizing these accounts.  

4. Cut an expense and pay yourself

In my book, It all starts with a budget, I discussed the importance of budgeting. One of the key concepts is to not only budget but to review your expenses. I share that if you are paying $200 per month for cable expenses but paying yourself nothing as it relates to savings, it is time to change it up! Remember, no one deserves your money better than you! Review your expenses for cable, excessive dining out, shopping and entertainment and determine what amount you can afford to pay yourself.

5. Kemcents’ Tip – Amended Returns

Lastly, another way to find a few hundred in your budget is to review your tax returns. Review your past tax returns and determine whether any additional deductions or credits can be claimed. The Internal Revenue Service allows taxpayers to amend up to three past tax years. Visit my website for more information!

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