Monday, 3 October 2016

Financial Planning Tip 2016 Oct, 3 - Altering your spending - Originally posted on Facebook

Many of us have our indulgences which get us through the day or the extra hours of work or when we are trying to save that little bit of extra funds to develop a skill or meet a commitment. Here are some of the alterations which I have adopted to meet my savings goals:
1~ Switch from a cocoa mix to an unsweetened cocoa powder. This may reduce your sugar consumption and, or allow you to save. One of my favorite brands of unsweetened cocoa is... Richmond Valley Cocoa of Jamaica. Yes, I can buy a local brand. However since my last splurge  was on a TT$33.00 container early last year (and which I have not used at least half of,) then I would have made a good choice in reducing my costs.
Yes, I am economizing, since I do not like a strong cocoa taste, I use a quarter of a teaspoon of cocoa to full cream liquid evaporated milk  (a good amount) and at most a teaspoon of brown sugar, with hot water to fill the space in the cup.
2~ Switch to refill packs. I was "crazy happy" buying the refill packs of Nescafe Coffee after downsizing from the Nescafe 3 in one to which I had been faithful, for a long time. I considered that I was saving tons of money spending only TT$14.00 or TT$12.00 when I could purchase a pack on special. That was my habit, until I discovered a 50gm pack of Colcafe which costs TT$8.75. I can make gourmet coffee with flavorings, a large size cup of coffee, several times during the day and or just one small one when I am rushing to go somewhere. (Note, I do not like a strong coffee taste either).
3~ Bonus points - There are credit card companies which offer frequent flyer miles or bonus points. Bonus points was confirmed as the only choice when the places to which I was flying was mainly with another airline, which flew at odd times and which did not accept miles which I would have had. Bonus points certificates meant money which could be applied to groceries, hence additional savings. Did I mention that I earn points for shopping in certain supermarkets which I can redeem toward groceries?

copyright Jennifer Bailey email

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