Easy Ways to Save Money

Honestly, who DOESN’T want to save money? Whether you are earning a thousand bucks a year or ten million, you always want to protect some of that money for whatever the reason may be. Some save up because they want to use that money for something they’ve been meaning to buy for a long time, while others save up in event of any unforeseen life events in the future. No matter the reason, saving is always a great idea. As you begin to incorporate more of the tips mentioned below, you will be surprised when your savings add up to thousands within few months.
What was once your daily Chinese dinner could effectively pay your auto loan! All you have to do is give it and yourself some time and watch as the tips work wonders on your bank account and your state of mind. This is what you need to do to start saving immediately:

SPEND LESS: Now, this is easier said than done. However, this is the simplest way to start saving. Think about it: review your monthly expenditures. Even if you’re the most frugal person on your block, you’ll still find something you’ll indulge on every now and again. Once you discover this little extravagance, cut back on it somewhat. It’s really as simple as that.

STICK TO A STRICK BUGET: This is crucial for individuals as well as families. In order to figure out the ideal amount you can spend, you need to keep track of your earnings as well. Unless you know what’s coming in, it’s hard to determine what goes out. Another reason why this is helpful is because this puts your monthly expenditure and savings in perspective, and step one becomes much easier to take care of with the help of a budget.

GET RID OF YOU DEBTS: Mortgage and auto loans are understandable, but excessive credit card bills and debts are certainly not. Somehow, most of these are also unnecessary expenses. In order to most effectively start saving, it’s important to clear up this overly excessive debt and this can be made possible only with great discipline. You have to ensure you pay down on all your outstanding debt each month and that’s the be all and end all of this little tip.

SHOP INTELLIGENTLY: When buying anything, it’s imperative you keep track of various offers, sales, and the price differences in a mall and a regular store and even online. Usually, these petty frugalities go a long way in helping you save big bucks when you review your budget at the end of the month. Bonus tip: check farmers’ markets- those can be a great place to get the best bargains.

COOK AT HOME: Although this might be a little difficult for individuals or in a setup where the husband and wife both work, it’s still a great way to save that hard-earned money, rather than spending it on pizzas and Chinese food each month simply because it’s easier.

KEEP TRACK OF YOU EXPIRATION DATES: have you ever bought a gallon of milk only to throw it all out when it turned sour three days later?! Then this tip is made for you. Perishable goods can be a real pain and complete waste of money if you don’t pay attention to their expiration dates.

STOCK UP: No, don’t buy tons of grocery, but as far as non-perishable goods go, try buying in bulk whenever you can. Cereals, canned goods, toilet paper, paper towels, pasta, shampoos, soaps, toothpaste and so many other items can be bought in larger quantities, and the most certainly wont go to waste. Also, buying in larger amounts ensures you will pay less per piece and can also save you the trouble of making frequent trips to the grocer’s ever time you run out of toothpaste of toilet paper.

BUY SECOND HAND BOOKS: Although the user of libraries is recommended and borrowing from friends and colleagues appreciated, you like to buy something you can call “yours”. That’s where you meet in the middle and buy used. Agree, leafing through the pages of crisp hardback isn’t equivalent to carefully thumbing you way through a musty old second-hand copy, but a fresh-out-of-the-press publication would cost you almost twice as much of a good second hand edition. Even if you are the king who likes always having their books fresh, try to make do with second-hand ones. After all, they do come at almost half the price.

GROCERY SHOP…IN A HURRY!: So you’re on your way home but there’s still an hour to go before your favorite TV show is on and you’d like to kill some time. There’s a simple solution that will help you kill two birds with one stone here: grocery shop! Wondering how this helps? It ensures you buy only that which is necessary. Most of the time, we find ourselves scouring the store of potentially useless items just because they look interesting or we’d like to try them out and usually we do end up buying them for no apparent reason. Such extras are automatically taken care of when you have only a fixed time to shop.

PAY YOUR BILLS ON TIME, EVERY TIME: All that’s needed from you is to ensure that you pay your bills on time, hence avoiding late fees. These little savings contribute towards the building up of a significant dollar amount in no time.

LEARN TO SAVE: Yes, literally so. Don't just follow tips you find online, but also make it a point to set aside a certain sum each month as savings. Do this despite whatever happens that month. This will be your personal little fund that is completely inaccessible in all petty emergencies. In the long run, this sum can be used to in the event of a calamity, a sudden important expenditure, example, house repairs due to the unnatural damage, automobile repairs, your child's college fees, health expenditures, etc.

AVOID BUYING ON A WHIM: How many times have you bought something just because you “felt like that”? “Too many times” is what the common answer to that question is. Impulse buying forms a substantial part of excess expenditure that I not all that hard to cut back on. At the beginning of each month, take stock of your life and jot down whatever expenditure you might have that month. Include clothes, repairs, parties, trips and the links in this. If you don’t list it down, don’t spend on it. The money you save could be used to pay off a long due loan of it could be put in a high interest yielding account, thereby forming an alternate course of income as well!