Nowadays, bills seem to pile up, leaving your account nearly bone dry on a monthly basis. You feel like there is no light at the end of the tunnel. Even with a raise, you can’t seem to be able to save money. How can you do it? Follow these 7 tips on saving money and you will be financially rewarded by your efforts.
1) Change is money too!
It doesn’t matter if you pay bills, a meal or a pack of gum, when you receive some change, keep it! Don’t touch it! Put them in a jar, roll them and deposit them in a savings account. Don’t use the money from your savings account unless you need it for an emergency or the main goal on which your savings are based in the first place.
2) Luxury is not necessary!
A luxury is supposed to be a treat that is purchased on an occasional basis at best!
Buying yourself a cappuccino is a treat that can be expensive if purchased on a daily basis. In fact, if you purchase a large specialty coffee everyday, for a $5.00 fee, an average month of 30 days will cost you $150.00 so now, imagine the savings!
3) Name brands vs. generic brands
If you give it a chance, try a generic brand instead of a name brand and you will be amazed as the lack of difference. In fact, you may even prefer the generic brand in the end. You see, in the end, if you save $1.50 when you buy a generic brand item compared to a brand name item, imagine the savings if you do this with everything?
4) Coupons and sales are there for a reason!
Don’t be shy! Use these coupons and look for sales in the inserts of your newspaper. Why not benefit from the savings that are offered to you? The savings that you can get from coupons and sales can make a huge impact as you will notice that you will get more for your money. Why pay more when you can pay less?
5) More can be a waste of money!
Pay for what you need or what you want. Why pay for what you do not use? If you do not watch all these TV channels, why not get a package that offers you what you want at a lower price? If you buy large quantity of foods and don’t use it, it’s a waste! Don’t throw away your money! Use it for what you want instead of what you don’t want.
6) Why heat up or cool down an empty house?
Electricity and natural gas are expensive enough without wasting it away! Instead of keeping the temperature of your home at the same level all day, set up your thermostat so during your business hours, your home will not be as hot or as cool as when you are in. After all, why pay more for an empty place?
7) Eating at home is healthier!
Lack of time and the practical side of a drive-thru may seem appealing at times but besides being expensive, it is also greasy food. There is nothing like a good home cooked meal. You eat what you want, cook it to your liking, take the time to enjoy it and you have the recipe to healthy eating habits, a good diet and great savings.
Money is hard enough to get without throwing it away like there is no tomorrow. You work hard for it so why not enjoy it by saving some aside for rainy days, a good vacation, some renovations or any other goal that you have in mind. Stay in charge of your finances by following these 7 tips on saving money! It will be worth it!