wait a moment

12 Money Saving Tips

You listened to radios and watched television shows that discussed various ways on how to save money such as opening a savings bank account and living a frugal life. There are a lot more tips you should apply to achieve your financial goals.

Today, I will give you the best saving tips. I say best, since they are based on my experience. Some might work well work for you and some might not. However, you can try the following tips to make the most out of your yearly budget plan.

Skip Hot Water

Use cold water when taking showers at night or in the morning. Skipping hot water will help you reduce your expenses of heating up the water. In this case, you won’t be surprised for higher water bills.

Walk if you can

If you can walk to reach one spot, better do it than using car which will only increase your transportation bill. Biking or walking can be you alternatives to using your car.

Look for a bank that can respect you

What I mean is to switch to a bank that can give you more earnings through interest from your savings. A better relationship with the staff of the bank can you give you confidence to save more and invest on them.

Shop after holidays

This is a secret that needs to be revealed to you now. You can have tremendous discounts when you make purchases after holidays such as Christmas and Mother’s Day.

Participate in volunteer programs

This is a great way to meet new people and be involved in a community that can lift up your spirit. If you’re looking for an alternative to entertainment, volunteering to programs is a good choice. It helps you get rid from expensive entertainment activities in malls like watching movies.

Evaluate your room

Find things inside your room that you don’t need anymore and that only create clutter. You can sell or recycle them if you want. It gives more space in your room and earns some profit when sold.

Try generic brands when you make a purchase

Instead of picking up famous brands, why not try generic brand of an item? You can save a few cents and you will discover that the generic brand is better/useful than the expensive one. Practice this technique when you shop in malls.

Prepare some meals at home

It is cheaper and healthier to eat home-made foods that dining out. You can try some dishes that you can learn from recipe books, newspapers and television shows. Learn to cook at home and enjoy the benefits from doing it.

Learn the ten second rule

This rule keeps you from making impulse buying that can only increase your monthly expenses. Whenever you pickup an item, wait for ten seconds. If you still want to purchase the item because you need it, then do so. Ask yourself when buying a product. This can help you practice good financial decisions.

Remind yourself of your debt

Create a visual reminder such as a note on a paper that tells you the date when you started and finished paying your debts. You can draw a progress bar on the paper. Fill the bar every time you pay down a little bit.

Eat breakfast

A healthy lifestyle comes from eating fresh and healthy food. Eating breakfast will both make your physical body and pocket healthy. The case when you don’t eat your breakfast is that you eat a big lunch in the middle of the day. It is expensive when you dine out just to eat meals which you can replace by eating foods at home.

Buy clothes when necessary

If you want to save a huge amount of money in just a few months, learn to buy clothes only when you need them. Practice the rule of thumb in saving money that is to think first your need than your want.

The last tip that I want to share to you is to ask your friends for encouragement and tips on how to save money. They can give you simple tips that might not be on the above list of saving tips.

How do you spend your money? Do you have some money saving tips? Share to us now.