I bet when you read the title of this post you thought I was talking about skipping your daily latte or something like that.

Nope. I’m talking about skipping fancy coffee by the pound you buy at the grocery store. Sure, it’s nice to drink Starbucks or Dunkin Donuts coffee at home, but the cost really adds up.

Maxwell House or Folgers tastes just as good. You can buy a 33.5oz canister on deal for roughly the same price as one 16oz of that premium coffee. Yes, close to three times the amount of coffee for the same price.

When you step back and just think about things for a moment, you can make simple choices that save you hundreds or even thousands of dollars over your lifetime.

Photo Courtesy of Sabrina Dent

Here’s a little money-saving tip that’s simple to understand but you’ll need a little willpower to use it.

The next time you go out to dinner, skip the appetizers and just order your dinner and hold out until it comes. You’ll save a few bucks and you’ll eat fewer calories which can save you a few pounds each year. It’s a win/win money-saving tip that you should keep in mind the next time you go out to dinner.

I’ve instituted a new rule for myself. I’m not allowed to buy another book unless I finish a book I’ve already bought. I think I read about one book for every 2-3 books I buy. That’s not a good ratio.

You could say that this new policy if mine is like the “use it or lose it” rule. Personal finance gurus always like to point out unused gym memberships as a source of cash, but after thinking of my new “read it or stop buying it” rule, I know that there are large, hidden expenses that we shell our hard-earned money out for because we are spending on autopilot.

What kind of things am I talking about?

Buying coffee on the way to work or picking an expensive dish (usually the Special the waiter tells you about) at dinner or keeping subscriptions to magazines we no longer read are little things that add up over time.

All you need is a few days of watching what you’re spending your money on to uncover these hidden “leaks” in your Financial Freedom Plan. Find enough leaks and change your behavior (permanent plugs) and you’ll have just given yourself the gift of an increased cash flow.

Living below your means (LBYM) is a necessary prerequisite for everything from getting out of debt to getting rich. Unfortunately, the practice gets a bad rap. Spending less than you earn and watching what you spend your hard-earned money on is not sexy by any definition, but it’s deadly effective.

LBYM doesn’t have to be difficult and you don’t have to give up living life to do it either. Here’s a simple Living Below Your Means tip that’s easy to do and can save you thousands of dollars every year…guaranteed. I was reminded of it when I went on quick trip to the grocery store.

I just had a few things to get and went quickly up and down the aisles with a list my wife gave me. I found the laundry detergent and I loved the fact that it was on sale. I saved $2 on the bottle so I stuck another bottle into my cart. I would have bought more but that was all that was left on the shelf.

Stocking up on items you frequently use when they are on sale is smart. No I’m not talking about buying dozens of cans of a food you use once a year. I’m talking about stocking up – at a discount – the stuff you use weekly, if not daily.

If you have a club store near you, then you owe it to yourself and tour family to check it out. Find out what store offers the best deals on the stuff you use frequently and get the best deal for you and your family.

One last thing – use this idea every time you shop. Let me explain…

Every week there are different deals on grocery, cleaning and personal are items. You probably miss the bulk of these discounts because you’re always in a rush. Change your attitude from one of efficiency to one of going on a treasure hunt.

The idea is to turn your quick trips into “stock up” trips every time you’re in the store. Often when you’re in a grocery store you’re there to buy a few specific things. You can invest just 5-10 more minutes going up and down the aisles looking for deals.