Holland: Small leaks can sink a big ship

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Teresa Holland

If it is not one thing, it is another, as the saying goes. We are barely coming out of COVID which impacted all our lives in a big way; but now we have runaway price increases. Most people are feeling the crunch at the gas pump. If not there, at the grocery store, especially if you are feeding a growing young family. Inflation is not just creeping up but zooming. But what can we do about it? A better question is, what is in our control?

I am not a financial planner, but I am old enough to have found some commonsense ways to save. Budgeting may be a boring topic for many. One that makes your eyes glaze over just thinking about it. I truly understand. However, most of us like stretching our dollars so they go further, and being able to save some of those hard-earned bucks is even better. Many of you have some favorite tools that help you stay on track, but finding another is always a win.

The main way to stay on track is to have a budget that shows what you have coming in and going out. Some other ways that I have found that can work too are:

• Live within our means

• Ask myself, is it a “want” or a “need?”

• Remember that small change adds up (Some no longer get “change” per se, but do stores round up the charge on your debit card instead of giving you change?)

• Having a “Dream Jar” (or account) for that something special can help to save for a big extra. (I was able to save change to take a trip to Europe. It did take a long time, but I made it. I have a friend who also did this and bought a camper for retirement. It is possible with some patience and putting back a little here and there.)

• Know what is available to you. It is never too early to have a financial plan for later down the road. (Does your employer match retirement contributions?)

Are there other ways to become thriftier or to cut back on expenses? Are there heavy-hitting items at your house that take a big bite out of your wallet? We certainly do not want to give up everything extra. There is no fun in that. But there are ways that most of us can find when we review our habits that we can just cut back to save money. Do you have talents or services that you can barter with friends?

One of my friends years ago, who was raising a young family, had a curious drawing on the front of the fridge. It was just an outline of a ship on a small, plain white piece of paper. When I asked her about it, she said it was just a constant reminder for when she needed it: “small leaks can sink a big ship.”

Teresa Holland is a guest columnist, writer, and retired advanced-practice registered nurse. Send comments to [email protected].