Tuesday, 6 March 2012

Money Saving Habits

Saving Money Should Become a Habit Saving money in a tough economical time may seem like a daunting task but it can be done with a little diligence and hard work. Developing the saving money characteristic is something that develops over time, but we all can develop it with some practice. Saving Money should become a habit in order to live a comfortable stress free life. Money Saving Tips The best ways to save money is to look at your budget and determine what your necessities are and what your wants are. When trying to cut the budget the only items that are priorities are items that you absolutely need, the other stuff you will have to temporarily do without. Spending less can start with eating at home instead of out at restaurants all the time, taking bagged lunches to work , cooking homemade meals and snacks at home, brewing your own coffee in the morning, and buying in bulk when you shop. Saving money can incorporate shopping and finances by always making a list when grocery shopping so that way there is no distraction or impulse buying. Always use coupons , reuse the grocery bags from the store as small garbage can liners at home, consolidate all credit cards and pay them off as soon as possible, be diligent with your finances and buy what you need and sign up for an auto savings plan. Money saving tips can also include paying bills on time to avoid late fees, using cell phones as the primary phone in the home, get rid of the land lines. When looking for entertainment books and videos can be borrowed from the library or watched for free online. When looking for clothes for the kids there are always bartering clubs or other moms that would be willing to exchange their kids’ clothes for your kids’ clothes and that way you both save. Saving Money The key to saving money is to reuse and recycle and always look for deals. Reuse and recycle household items such as clothes, which can be swapped. Maintain your current vehicle instead of always buying new. By keeping your current vehicle maintained and whenever possible carpool to save on gas you will save a considerable amount of money. Walk or take a bike whenever possible. Join free online rebate clubs that give you cash back on purchases. Buy used and check out auction sites and get things at severely reduced prices. Sell items you have that you don’t have any use for, or barter for things you want. Saving money and spending less can be done on utilities as well by being a smart shopper and consumer. Use compact fluorescent light bulbs instead of traditional bulbs this will cut down on energy consumption. Make sure the home is properly insulated; tune up the furnace, lower the temperature on the thermostat, use cooler water to wash clothes and weather strip your home. Making sure that your home is properly insulated will prevent heat loss from the home which can save or very high electric bills. Insulation around windows and doors can be as simple as placing a homemade snake made of old piece of clothing and stuffed with fiber or cushions and placed at the foot of every door. When shopping for seasonal items shop after the season is over, this is when everything is half price or almost free. This can be great for the next season. Always pay bills on time to avoid late fees and pay bills online if possible this will save on the purchasing of stamps. Many companies offer incentives or free rewards for those members that opt for paperless billing and payment processing. Always check for rebates, coupons, vouchers and sale items, sometimes with the right combination of coupons and sales discounts and item can be free or close to it. Some of these tips may only save you small amounts, but those small amounts soon add up and over a monthly or annual budget you will soon see the savings which will easily become a habit.

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