Lower income families are paying more.

I found an article on CNN Money website named, “For low-income families, the discounts shoppers get from buying in bulk are often out of reach — forcing them to pay more for everyday items like toilet paper.”The study was done by the University of Michigan’s Ross School of Business. The study analyzed the purchases of toilet paper. The results showed that low income families pay more for toilet paper.  When I first read this article, I thought, “And?” As I continued to read this article, I had begun to realize that the article is touching on some important facts. I wanted to share these points with you, so we can track our spending. I used to be like a lot of people who did not care about small purchases like toilet paper. Now, I know that a penny saved, is a penny earned.   If we can save $10.00 dollars a month on small purchases, we will earn$ 120.00 dollars a year. $120.00 dollars can pay a small bill. If we can save $10.00 dollars a month for ten years, we will earn $1200.00 dollars. You can use that money to pay off a bill, make a small purchase, or invest. It is important for us to track our spending, and here are three ways that can help.

Couponing can save you some money. I used coupons one time, and I save fifty dollars that month. I bought the Sunday’s paper. I visited websites like Coupon Mom and Southern Saver. I also visited store websites to see what sales the stores were running. It seems like a lot of work, but if you will take at least 30 minutes a day, you can save a lot of money.

You can buy in bulk. You have to make sure that you check the expiration dates on the products before they expire. You can share the products with family, friends, and nonprofit organizations like a church. You will be helping others while saving money. If you have an emergency like a car repair, you do not have to worry because you have enough food for your family, and you have extra money from the savings.

You need a calendar that will remind you about important dates like expiration dates and sales ending dates. You can organize your coupons and sales clipping in a notebook. You would need to check store and coupon websites every day.  There are FaceBook and Twitter pages that give helpful information. Once you start looking for savings, you will be surprise at all of the information that you will find.

Spending is something that we have to track. It seems like hard work, but it is worth the time and effort.

References

http://money.cnn.com/2016/03/24/news/poor-families-savings/index.html

2 thoughts on “Lower income families are paying more.

  1. It’s truly a nice and useful piece of info. I’m glad that you just shared this useful information with us. Please keep us up to date like this. Thank you for sharing.

    1. I want to thank you for reading my blog, and I hope the information in my blog has helped you. My goals are to review issues that affect our everyday lives. Of If you need any more information, please feel free to contact me at thelifeofree@yahoo.com.

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