There are literally thousands of ways you can save money but as many things related to personal finances, not all will work for you. Saving money isn’t top-ten-goldsomething you can do easily. To be really successful at it, you need to work at it by coming up with you own ideas and be more proactive about saving cash. But there are some good general rules of thumb that can get you started to savings. Here are 10 good starts:
1.Budget Your Income
This is one of the most important, most widely discussed step towards saving money. While it may seem as though people are beating a proverbial dead horse, the reality is budgeting is a necessity. You can only know how much money to save if you know how much money you make. Knowing exactly how your money is managed will allow you to make important financial decisions, thus saving you cash.
2. Cut Out Un-Necessities
To save money, you need to start at home. Humans need three basic things: food, clothing, and shelter. There is no law that says you have to have the premium cable package, a Gucci bag, or lobsters in the freezer. Chances are good that if you looked around your own home, you will likely find a lot of things you can cut out of your life. Not only are you reducing the amount of money you are spending each month, you are de-cluttering your life and your living space, which can be both healthy and freeing.
3. Shop Loyally
While they may seem like a pain, those shopper rewards cards can save you a pretty penny. By coordinating your shopping with the weekly specials flier at your local grocery store, you can be sure to save on and stock up on your needed pantry staples.
4. Shop With a List
Do not go window shopping out of boredom. It can lead to many unnecessary impulse buys. Shop only when you need to and buy only what is on your list, to help avoid your wandering eye. Keep your shopping list available for you to write down items you know you need at home throughout the week. Go to the store only once a week and keep your refrigerator stocked so you don’t have to run to the convenience store several times a week.
5. Wait on Big Buys
Want something that costs a lot? Well, if you want to save money, practice waiting. If after a week or two you still want to make the buy, go for it but not before you check out competing prices and find the best deal. You might be surprised to find that after the waiting period, you may not want to make the purchase at all, saving you the most money of all.
6. Use Coupons
There are so many more resources now for coupons than ever before thanks to the internet. There are several sites that send you automatic alerts to let you know when and where the sales are based on your preferences. You can still use the newspaper and the store sales fliers to find the typical coupons but don’t be afraid to expand your search online. It is also advisable that you take the coupons and store them in your vehicle so you can never leave them behind when you shop. Regularly clean out the expired coupons and keep them organized in a manner that will allow you to easily find the ones you are looking for when you need them.
7. Buy Used
There are many quality items you can buy used and save a fortune. Furniture, clothing, books, and other items can be found at yard sales, auctions, second-hand and consignment stores, estate sales, and online for far cheaper than in any store. Many times, especially with furniture, you will find it is of much higher quality than today’s pieces.
8. Skip the Trends
When you work too hard to keep up with the proverbial ‘Jones’, you can end up spending more money than you even have in reality. While it may be nice to have the top of the line car, designer clothing, and other trendy items, if you can’t afford them, you’ll find yourself undeniably in debt fast. Instead of buying what’s in now, buy quality items that will last for a long time to come. Keep it basic and avoid having to replace things simply because the style or color or functionality is no longer cool.
9. Quit Your Bad Habits
If you smoke, drug, or use drugs recreationally, you are essentially flushing good money down the toilet while jeopardizing your health. Now is a great time and money can be a great motivator for giving up expensive habits and addictions. When you spend money on such things, you are wasting money that could be put towards your future and that of your family’s. Additionally, the costs of medical treatments as the result of bad habits can cost you big time for a long time.
10. Start from Scratch and Recycle
When you continue to buy processed, pre-packaged foods and other items, you end up over time spending much more than you would if you bought the basic staples and stretch the capacity of their use. Food is just one of the items you can make up from scratch that will save you money. You also need to learn how to find other uses for stuff you may no longer need. Recycling items into other uses can take some creativity but it will definitely make you and your money more self-sufficient
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