Spend your money wisely

Farm Forum

SDSaves Week was Feb. 25 – March 2. Did you set a goal to save money? We should all have a goal to set up an emergency fund if you do not have one. An emergency fund should be equal to three to six months of your basic expenses. That way if an emergency comes along such as the car breaks down or your refrigerator gives out, you do not have to take away from your monthly or regular expenses to pay for it. It also helps keep the money intact that you have set aside for your financial goals which may be for your vacation or educational goals.

Finding money to save is not always easy. Here are some ways to spend money wisely that will allow you to have a little extra money for that emergency fund.

· Eat out less often and put away the money you save.

· Save money at home by cooking from scratch.

· Drink tap water and pocket the money you would have paid for bottled water.

· Take your own beverages and snacks when you travel rather than purchasing at a convenience store.

· Survey your closet, see what clothes fit, and donate those that you do not wear. Shop stores for bargains.

· Cut transportation costs by carpooling to activities. Walk or ride your bike when possible.

· Consider needs vs. wants – ask yourself if you really need a daily latte, premium cable, or a weekly manicure.

· Have friends over for potluck or movie night.

· Conserve energy in your home. Turn the thermostat down a couple degrees.

· Visit your local library. Check out movies and books and read current magazines.

· Wash your car the “old fashioned way”.

· Make gifts rather than purchase them.

· Use generics when possible.

· Delay your purchase. When you want to buy something, wait one week to see if you still think the purchase is really important.

Savings will come your way if you try some of these suggestions and turn them into habits.

Reach Karen Slunecka at 605-626-2870 or