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Money Saving Tips from America’s Cheapest Family

More than 1000 non-profit, government and corporate groups are encouraging individuals and families to save money and build personal wealth during America Saves Week (February 27th—March 4th). Your BBB® is among these organizations.

If you are thinking about saving money, but have no idea where to start, BBB recently spoke with Steve and Annette Economides, NY Times bestselling authors, TV personalities and bloggers who provided the following tips:

What is the biggest mistake one can make when trying to save money?

I would say that going crazy with your numbers, your research and the time you spend trying to save money is a mistake. If you are new to the frugal world, start small: take into consideration the amount of time you have when you do a research, think about the type of job that you have (the research you do for a full-time job will be different than the one you do for a part-time position). Also, figure out where to start saving money first. Some people realize immediately that the car they’re driving is not fuel-efficient or that they should cut back on entertainment. Also, you may want to consider planning your meals in advance: start small, with 3 nights of meal prep at a time.

What is the easiest way to save money?

The easiest way to save money is to use cash. If you can’t control your spending impulse, use cash and envelopes. This way, you will always know how much you spent and how much you have left. At the same time, you won’t be tempted to overspend.

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