Save Money
Saving money and being more frugal is neither a science
nor an art; rather it is somewhere in between and requires your commitment and
hard work. Saving money takes time to develop, needs to be learnt, and brings
benefits that will endure for the rest of your life.
Begin to save money today. Do not put it off. Saving money is within your control and can bring you
huge benefits. You will reap the rewards of saving money for years to come.
Whether you save money on travel, save money on insurance, or save money on
heating bills, remember every little count - start today and save money every
day.
Top Ten Money Saving Tips
- Save Money Tip 1
Spend Less. This is not over simplifying the
best way to save money! It is essential if you are serious about being a long
term money saver and being able to save money every day. Review what you spend
and look at ways you can save
money.
Consider making telephone calls for instance only at off-peak times. Do you
really need to have newspapers and magazines delivered? Can you do without
those coffees you buy at break time everyday - would a flask of coffee taken to
work save you money? What about using the public lending library instead of
buying books or music CDs or DVDs? Try to never waste
money and
make every purchase a considered purchase. Once you start looking for little
ways to save money and spend less you will quickly become an expert and really save money faster. Spending less means you value every penny
of your money - you will not be so quick to throw that money away on impulse -
after all you worked so hard to earn it!
- Save Money Tip 2
Establish a personal budget. This is
essential for families and individuals and can be the fastest way to
save money. You
will instantly see your incomings and outgoings once you create your budget.
You will not be able to save money unless you know how much money you have
coming in, and how much money you have going out. Once you have prepared a
budget of incoming money and outgoing money, you WILL be able to identify areas
where you can save. It is MUCH more difficult to save money over a long period
of time (the rest of your life?) without a budget.
- Save Money Tip 3
Bulk is good. Think about shopping and buying
in bulk. Save money grocery shopping by planning meals in advance and
bulk-buying. You can also save money by cooking in bulk. This is a real way you
can save money with little preparation and almost no extra outlay. Always
purchase generics when you can. Prepared foods and convenience foods will
always be much more expensive than the generic ingredients needed to make the
food. Preparing food in bulk and in advance also gives you the opportunity to
plan ahead and be more accurate in your budget. Buying something you need in
bulk whenever you can to save money. One thing to be aware of when buying in
bulk is to be sure that any product you buy will get used before it goes bad -
you won't save money if you have to throw stuff away. Buying in bulk is not
only a good way to save money it is also a good strategy for coping with and
surviving emergencies.
- Save Money Tip 4
Make sure a sale is a sale. By this I mean do
your price research before you commit to making an expensive purchase in a
retailers money-off sale. You have to be sure the sale really is a sale and not
a creative marketing strategy of the store to encourage you to spend your money
without thinking. Once you have researched the true price of a product (any
product) you are in a good position to take advantage of a sale, special offer
or discount and really save money. "Buy one get one free", "50%
off", and "Huge Discount" will only help you save money if the
actual price you pay is lower than you would pay somewhere else for exactly the
same product.
- Save Money Tip 5
Buy used. Sure, we all like to buy new. But
there are huge money savings to be made in buying used. Typically cars lose
one-third of their value in the first 24 months from new. Why not buy a car 24
months old? Other items such as clothes can be worth even less just the day
after new. Look for ways to buy "as good as new" items and save
money. Typical products you might consider buying used to save money include:
cars, clothes, electrical goods, garden items... tools and sheds, household
items... pots and pans, the list of used goods where you can save money is
endless.
- Save Money Tip 6
Don't carry excessive debt. Some debt in our
lives may be essential. We may need a mortgage to purchase a home, we may need
to use our credit card to make purchases until pay-day, but your aim to save
money should be to have as little debt as possible. Credit Card debt is
typically the most expensive debt we may carry. You will be able to save money
every month if you make it an absolute rule to pay off your outstanding balance
every month. If you can have the discipline to do this you will save money by
effectively having no debt and thus no interest charge on your credit card(s).
- Save Money Tip 7
Save Money. No, I mean really save some
money. Each week or each month gets into the habit of putting an amount,
however small into your savings. You could start by saving a very small fixed
amount each time and then move to putting in larger amounts once you begin to
save money from your other money saving strategies. You will find that by
saving money on a regular basis you will quickly build up a store of reserve
money and also feel motivated to save more. The hardest part is to take the
first step and start saving money - so START TODAY and save some money NOW! If
you find it impossible to save money once you have it, consider having money
deducted from your paycheck direct each month. This can be a great way to save
money rapidly as once it is set up you will not notice it is being collected
and your savings will grow with no more effort from you.
- Save Money Tip 8
Shop Wisely. Consider markets, superstores,
farmer's markets, local shops, marts and stores. Anywhere is worth checking out
to see if you can save money. Farmer's Markets can be particularly good places
to save money. Typically you are buying direct from the producer of the product
so the savings are passed on to you. Use your bulk buying strategy here -
farmer's markets often offer opportunities to save money by buying larger
quantities of staples, for instance potatoes, rice or corn. Save money and shop
wisely.
- Save Money Tip 9
Eat in rather than out. This is a huge area
where you can save money. A cup of coffee taken out could easily cost you
TWENTY times (or more) what it would cost you to make it at home. So think
before you drink when you are out. Eating is the same. Fast food restaurants
are counting on you eating food that you perhaps don't really need at that time
but buy just because it is quick. Why not wait until you get home and have a
more nutritious meal and save money at the same time.
- Save Money Tip 10
Use less. This money saving tip is a lesson
we all need to learn. We live in a consumer society where waste is a huge
problem. If we could all use and consume less there would be less waste, less
power consumption, and the benefits for you are SAVING MONEY. Consider using
less shampoo when you wash your hair, this may not mean washing your hair less
effectively it means not flushing the excess shampoo and your money down the
drain. What about saving on heating? Turn the thermostat down or put on extra
clothes when you are cold. Turn off lights, the TV and the computer when they
are not in use. Each little saving you make will build up and enable you to
save money. Huge savings in energy can be made which will save you money and be
good for our planet and the other people on it.
