Summer Money Saving Tips
It’s important to find ways to save money, especially during these unpredictable times. With many activities and travel forced to shut down, now is a great time to save some of that money you may have spent this summer. We asked current Freedom Mortgage customers to share their tips on how they put aside some extra money. Here are their suggestions.
"Use fans to pull warm air OUT of the house during the day, then reverse them at night to pull cool air IN."
– John from Montana
"If actively employed, don’t live paycheck to paycheck, preplanning and pro-activity should be the norm. Save for a rainy day."
– Frank from New Mexico
"We don’t eat out much. I make extra for dinner and eat the leftovers for lunch."
– Stacy from California
"Have your company take out automatically into a savings account, so you don’t miss it."
– Christopher from Texas
"Start a vegetable garden. Start small with tomatoes, peppers, lettuce and cucumber plants. So rewarding and a money saver."
– Janice from New Jersey
"Lower your thermostat to reduce your electric energy bill. Have a BBQ instead of eating out. Make a budget and stick to it when possible. If you have extra funds at the end of the money, move the extra funds out of your checking into a separate savings account (out of sight, out of mind)."
– Jayna from California
"Use your employer’s benefits. Fully matched 401K, stock options, even healthy incentives can save you a lot of money."
– Kyle from Montana
"I put $50 into my savings every paycheck. Pay myself first before I pay everyone else. It has really helped and grown over time!"
– Katherine from Maryland
"Apply extra money each month towards your principal, even if it’s only a small amount. It’s amazing how much money you can save over the life of your loan by doing this. You will also pay off your loan earlier."
– Wanda from Missouri
"Every year, beginning with the first week of the year, I save according to the number of weeks it is. For example, week 1, save $1.00; week 2, save $2.00; week 3 save $3.00. Continue doing that method for the remainder of the year and you’ll save over $1,000 for that year!"
– Dwayne from Wisconsin
"Have weekly meal plans with shopping lists. Simply print the list, check off what you have at home and go shopping! Having that guide keeps our food budget under control!"
– Kevin from Virginia
"A $2.50 coffee a day is $75 a month that you could pay down the principal if you make your own coffee."
– John from New Jersey
Just a little bit of saving and cutting down on expenses can quickly add up. Plus, you can use that extra cash to help pay off your mortgage faster, finance a repair, or save for a vacation in the future.