Build Savings Fund Fast

With this difficult economic times, people are seeking out more ways to save money. There are a lot of reasons why we want to save money. We may want to save money so we have funds set aside for the holidays, an upcoming trip, or for a rainy day. The latter is a necessity. Whatever your reason is, saving money requires strong self control, discipline and sacrifice. If you are building an emergency fund, make sure that you will use this money only in the event of an emergency.

1. Buy things that you only need. Before you buy something, ask yourself if you really need it or just want to have it. Practice not to buy on impulse. Sleep on it and ask yourself if you really need it or just want to have it. If you're thining of buying a new patio set, think about it first. Do you really need to get rid of your old one? Ask yourself why. If something is broken, can it be salvaged? If it's dirty, clean it. Now, if you decided to keep your old set, praise yourself by saying "Good girl/boy!" Then, put the money that is supposedly for the new set in your piggy bank.

2. Stick to the classic. Don't buy something just because a new item is "in" and your co-workers, friends and neighbors have it. If you really need to buy a new purse for example, don't go with what's "trendy" or "in" today and just for the label. Purses are like gadgets too. They go out of style and new designs come out often. Also, you don't want to be walking around the mall and see your "twin" who has the same purse as you have. So stick to the classic and practice simplicity. Put the money that you have saved in your piggy bank.

3. Skip starbucks or peets and start making your own coffee. Put the money in your piggy bank everytime you skip your visit to your favorite coffee shop.

4. Cut your grocery bills by clipping coupons and comparing prices of products in different grocery stores. Buy store brands instead of the major name brand products. The quality is almost the same. Buy in bulk for products that you consume or need often like cereals, toilet paper, etc. It really depends on how much you will consume. Don't buy in bulk if you know the product will just end up in the trash. Check the price per unit found in shelf labels right next to the product. Compare the unit price between big and small packages. Also, skip the precut or presliced products. They are more expensive. Slice or cut them and save yourself some money. Always take your grocery store card for discounts. Usually grocery receipts tell you how much you've saved. Put that amount in the jar or piggy bank.

5. Cook at home. It's better to cook at home than eating out. There are a lot of advantages of eating at home. First, you know what's in your food and what you're eating is clean. Second, you get the right portion that you want. Third, you save money on tips. So, next time you have the urge of eating out and opted to eat at home instead, feed your hungry pig by tipping little piggy.

6. Limit your visits to the nail spa. Some people go to nail salon weely or twice a month to get their nails done. Do it yourself and save some money. Put the money you'll spend on the spa/salon plus tip in your savings or emergency fund jar.

7. Watch movies at home. It's cheaper to rent a movie than going to theaters. Movie tickets have gone up and you might end up buying soda and popcorn when you watch a movie. Some video stores offer programs like renting three movies out at one time with no due dates for a low monthly fee.

Once again, whatever you have saved from popcorn, soda and movie tickets, toss it in the savings jar!

8. Recycle your cans and bottles. Why not recycle those cans and bottles and put the extra cash in your savings jar? It takes a while to collect cans and bottles but you're saving money and the environment.

9. Recycle your old cell phones or ipod. Another way to save the planet and earn extra cash is recycling your used cell phone or ipod.

10. Did you recently receive a cash back on your credit card? Have you received your stimulus check? Did you get a tax refund? You can add these funds to your savings jar or account.