5 Savvy Ways Mass Residents Can Cut Costs & Save Big

Reader Tips on How to Save Money in Massachusetts

As a resident of Massachusetts, you're likely no stranger to the challenges of managing finances. From high cost of living to unpredictable tax laws, it can be tough to make ends meet. But don't worry, we've got some valuable tips from our readers that might just help you save some money.

Cut Back on Transportation Costs

One reader suggested cutting back on transportation costs by carpooling or using public transportation whenever possible. With Boston's infamous traffic, this is a great way to avoid wasting time and money on gas and tolls. Consider investing in a monthly pass for the T or bus system, which can be a cost-effective option for those who commute regularly.

Take Advantage of Tax Credits

Another reader suggested taking advantage of Massachusetts' tax credits for education expenses. If you're a student or have kids in school, this could be a great way to save money on taxes and even get some cash back. Be sure to do your research and see which credits apply to you and how you can take advantage of them.

Cook at Home Instead of Dining Out

We've all been there: tempted by the convenience of dining out or ordering in. But this habit can quickly add up and blow a hole in your budget. Try cooking at home more often, using affordable ingredients and meal planning to make the most of your grocery budget.

Use TogetherBudget to Track Expenses

Of course, cutting back on expenses is only half the battle – you also need to know where your money's going in the first place. That's where TogetherBudget comes in. This powerful tool helps you track your income and expenses, identify areas for improvement, and set financial goals. With TogetherBudget, you can take control of your finances and make smart decisions about how to save.

Other Reader Tips

• Consider using cashback apps like Ibotta or Fetch Rewards to earn money back on everyday purchases.


• Shop around for insurance rates – even a small decrease in premium can add up over time.


• Use the 50/30/20 rule to allocate your income: 50% for necessities, 30% for discretionary spending, and 20% for saving and debt repayment.

Conclusion

Saving money in Massachusetts may seem like a daunting task, but with these tips from our readers, you're off to a great start. Whether it's cutting back on transportation costs or taking advantage of tax credits, every little bit counts. And don't forget the importance of tracking your expenses and setting financial goals – TogetherBudget is here to help with that. By following these tips and staying committed to your financial goals, you'll be well on your way to achieving financial stability and security.

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By Malik Abualzait