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« Worshipping at the Altar of FICO | Home | Teens and the Credit Card Jungle »

Cutting Costs

By Deb |

Finding extra money in your budget is easier than you think. You’ve just got to use your head–literally!

Delaying that haircut can actually save you a bundle of cash over the course of the year. Let’s say you get your hair cut every six weeks for $20. That’s $173 per year per person. For a family of four, you’ll spend $692 a year for haircuts. (And that’s without the tip!)

Let’s say you wait just two more weeks in between haircuts and go every eight weeks. Your cost per person drops to $130 per year or $520 for the family. That’s an additional savings of $172.

Let’s push it even further. Wait just one more week, and the yearly cost per person is about $115.50. You’ll pay $462 for family haircuts and save $230 overall.

These are conservative estimates. Many people spend much more on hair care. Add it up using your costs, and see how much you’ll save just by waiting an extra week or two between visits.

Or, you can do what I did for awhile. Watch the stylist as she cuts your child’s hair and learn her techniques. Then invest in some professional scissors and clippers and do it yourself. If you’re good enough, that extra savings could add up to an extra mortgage payment each year!

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