Queen of Free’s 5 easy methods to economize

Cherie Lowe shared her favorite strategies for saving more money on 13Sunrise.

INDIANAPOLIS – Some of the best principles for avoiding debt and increasing wealth are based on a few simple habits.

Cherie Lowe, the Queen of the Free, shared her five easy money strategies on 13Sunrise and this week on her blog.

First, withdraw extra money from your checking account before you spend it, because despite your best intentions, you WILL spend it. Move a paycheck bonus, unexpected windfall, or cash that exceeds your budget into savings ASAP. You can always send the money back if the car needs to be repaired.

If possible, schedule your bill payments with Autopay to avoid late fees. If your utility or creditor allows, try scheduling a regular monthly payment on a specific day to match the receipt of your paycheck.

Save a percentage from every paycheck. On her blog, Cherie explains how to get the same percent off every paycheck, gift, or even flea market proceeds for retirement, charity, college fund, vacation expenses, vacation, or emergency repairs for your home and vehicles. Even a few dollars at a time can add up if you stick to your plan.

If you’re under budget on one line for the month, “Even if it was $ 2.81 for the light bill or $ 0.75 for the grocery budget,” Cherie says, add that excess cash to one of the funds above, or direct it to repay a larger debt.

Finally, avoid the urge to hit the “Buy” button. With a purchase, sleep before you make it. “If it’s not a real need,” says Cherie, “sit down for at least 24 hours with your decision to make sure you really want the item.”

Watch Cherie’s segment with Jalea Brooks from 13Sunrise in the video player.