We all have experienced the “drip-drip-drip” of a leaky faucet. It’s not only annoying, but if left unattended, it could add up to thousands of gallons of wasted water and a very large water bill. Individually each water droplet that is wasted is a fraction of a penny, but over time the pennies will add up to dollars. Many of our everyday purchases are also causing a drip on our finances. Some of it is due to poor money management and others are due to our lack of attention to detail. At times it can be difficult to detect financial leaks, but with some proper tools, you will be equipped to fix the financial “drip-drip-drip”.

The average smart phone owner uses 256 MB of data each month but pays for 10 GB. With a simple review of your usage, you could significantly save on your plan every month.

Check your auto insurance policy every year. Most auto insurance policy holders renew their plan with their current company each year without investigating the competition. Family needs change each year, and switching plans  could reduce your monthly bill.

Use a programmable thermostat. If you don’t currently have a programmable thermostat in your home, get one. You can purchase a moderately priced model for about $40. If you already have one, make sure you’re taking full advantage of its features – some models allow you to program a different temperature for different days of the week. On average, every degree you raise your thermostat in the summer or lower it in the winter saves 2% on your energy bill.

Eliminate your Home Telephone line. As long as you have a reliable Internet connection and at least one cell phone in your home, you can save big by eliminating traditional land line service. Products like MagicJack connect a land line to your personal computer via USB, so you can still have the comfort of speaking on a telephone without shelling out the big bucks. Skype is also a convenient (and for most calls, free) alternative to a land line.

Make a grocery list. American families throw away about 25% of all the food and beverages they purchase when they do not have a shopping list. Buy what you need, use what you have, and make less if you don’t like leftovers.

Take some time and do your research. With some minor adjustments, your financial drip will be fixed. Contact us at mail@WayPointsFinancialServices.com for more creative ways to save.