10 Easy Money Saving Tips That Saves Your Wallet And Household Expenses
I have a piggybank (what a lovely pig with a smile on face) in my cupboard. One of my favorite time pass on every weekend is to take that piggybank and open to count the savings. Yesterday, I gave a proud smile to my husband saying, “Look, it is growing“. He gave me a sarcastic smile and replied “Remember, you spent dollars to get these changes accumulated in your bank“. Though I gave him a cold look, the truth went deep inside my brain. Yes, I dropped nearly 5 CHF consisting of 1 Frank, 2 Frank and 50 Rappens in my piggybank, but those were the changes I got from the shop when I paid the bills, worth 150 CHF. I spent 150 CHF and got 5 CHF changes in my savings account.
This kindled my thought. Before I count my cents, my dollars got vanished from the wallet. Time to control. So, I put my thoughts and did a little research on the options, where I can put a hold, can control my home departments and save really, without spending much. Of course, my tips are not going to help Mr. President, Barack Obama giving ideas on how to boost the economy. But sure it is going to help you for saving something in your own household. Every drop of water adds to create the mighty ocean.
So here are the check list on where you need to keep a check often to save your paycheck.
1. Escape from the Electric Shock
The main household department, where the money is consumed unnecessarily is the electricity bill. There are few homes where televisions will be available in each corner of the rooms and it will be switched on by the kids or adults when the day dawns and never switched off till end of the day. My husband once had the habit of switching on the lights of the rooms, where ever he peep in, but always forgot that there is an opposite reaction called “Switch Off“ for his first action. Now, he too learnt the importance of savings. Don‘t keep your laptop, computer or mobile phone on charge for hours, even when not required.
Few people sleep in their couch, while watching TV and wake up next day morning to see the TV still blabbering something. You can save 20% to 40% of your electricity bill, just by few simple actions like switching off the TV and lights. Don‘t switch off the TV using your remote control. Take your butt off the couch and walk a bit to do the entire plug off. Your backbone will be happy.
Everything is money. Save it. Recession is not the only time for savings. You can do it here, right now.
2. Food Wasting? Food for thought
I confess and repent for my act that I wasted a bag full of soup packets last month. I bought those packets some 6 months before and kept in the top shelf of my kitchen and forgot it completely. Last month, when I cleaned the top shelf, I found those packets, which all got expired. Foolish act and wasted money. Also, my other bad habit, which I rectified almost completely is cooking in excess. No, I am not lazy and cooking for day altogether. My husband won‘t even touch the previous days food. But I always fear that my kid or husband should not run out of food, when they want, as it happened sometimes. They liked the taste of the food and ask for more, were as it may be a very little left for them in the pan. So I always cook a little excess. But guess what? Most of the time it goes waste or I eat for the next day.
So, now I avoid this by cooking the required amount only. If anyone needs excess, I serve the other readily available foods in the fridge. Brilliant.
3. Lazy? Its not going to be easy
Pulling your car out of the garage to go to the shop in the next street? You are not only wasting your money on petrol, but also spoiling your health. I can judge how lazy you are, if you are not able to go to the shop of 5 minutes walk and need your car to help you. Short walk makes you live long and saves your money too. And yes, you will be one of those environment friendly person, who helped to reduce the air pollution.
4. Shopping Mania bad for Money
After dropping my son in the play school, I used to go for shopping. My only motto might be to buy a packet of sugar or salt. But when I return home, somehow I might have spent at least 20 to 50 CHF. Mind it, a packet of sugar or salt costs less than 1 CHF.
GOD, I don‘t know why I loose my control once when I enter the shops. All those tactics of the marketing managers, with master degree in Business Management and Administrations (MBA, MBM) and sales executives friendly smiles always cheated me. All those, pick me advertisements with “Buy one get three free“ always punctured my wallet. The main reason for my shopping spree is,
a. I always had enough money, even if I jump out of the limit I planned.
b. I didn’t have the proper planning of what I actually need.
Just used to think, “OK, I buy sugar“. But when I go into the shop, most of the things attract my attention. Did I put a check on this habit? Yes, of course. Now I keep only 10 CHF more than what is required, in my pocket. Do I like to stand before the cashier, blinking and begging without money in hand? Next is the checklist of items to buy. This helps me to go to the exact aisles of the products I need and keeps me away from getting distracted at those fancy banners and advertisements on the way, twinkling their eyes to snatch my purse.
5. Party Goers, part of paycheck goes here
Many people conduct party often or keeps going to party, just as a symbol of status establishment among their social circle, the society where they belong to. Get out of this addiction. One of my friend used to tell “Oh I cannot believe. It has been a week, I went out for a party with friends“. He spends half of his income partying, just as a show off. I would suggest, put a halt to this addiction. Take a pen and paper (alright, a notepad and calculator in a laptop is also OK). Write down how much you spend every month on party. May be if you save those money, you would be able to buy a new pair of jeans, if not a car or bungalow.
Also, the habit of frequently eating out, not only affects your wallet, but also your health. You pay your money to spoil your health, as the food won‘t be so healthy. Later you need to spend some more money on gyms & medications to keep away the problems. Would you like to be medicated to keep away the fat? What would be easier? Changing your habit now or the negative change in your health?
6. Online and on time Planning = Online Savings account
I once booked a ticket to Paris from Basel well in advance (like 2 months before) and guess what I paid. Quarter of the actual rate. Isn‘t it good? Planning in advance saves a lot. If you are planning a holiday trip, plan well in advance.
Yes, our plans do get changed even at the last minute. But there is nothing wrong in planning in advance. By advance booking of air/train tickets, you can save even 50% to 75% of your expenses. Why to lose those profits? I really don’t want to loose those extra bucks.
7. Alexander Graham Bell won‘t curse you - Put down the phone
I forget the whole world and surroundings when I pick a phone and talk to my loved ones, especially my parents, in-laws, those old college friends and some new good friends from Facebook and Orkut. Then I faint on the day I receive my phone bill. My world and clock may stop at the moment when I picked the phone, but not the clock of the service provider. It counts even those microseconds and bill me. Now, that big pendulum clock before my phone keep groaning at me and forces me to cut the call at a decent time. Short and Sweet conversation, good for friendship and good for saving money.
8. Surrendered in the hands of Internet?
If you are addicted to the internet and feel that it occupies a large part of your budget, then plan and work accordingly. In countries like USA or Switzerland, we pay a fixed amount as Internet charge every month. So, it does not matter much. But in countries like India, we pay for the time and amount we use the internet connection. Pay for the consumption. So, one need to plan before connecting every time. For example, if you are writing an article or hub, then better follow the steps I give. Do the jobs like typing, error checking, formatting in the offline mode. Only when satisfied, connect to the Internet & publish the content.
I have the habit of making the list of items on a physical notepad even before I go online. Things like – publishing an article, mail to a friend, check bank account etc are listed near my PC to guide me as to what I ‘need’ to do while online. This avoids online time consumption and helps save few bucks every month. The making of notes work as a good reminder too.
9. Temptations, tears the trousers and reaches the wallet
Temptations play a huge role in taking up a large sum from our wallet & savings a/c, that too even before we realize it. Some times you might have wandered to a cosmetic shop and bumped on a beautiful sales gal, and got influenced by the gentle persuasion. You might have lost your mind and end up buying something that doesn’t even work on your skin. You even probably have an allergy to one of the ingredients so you have no choice but to throw it away. At some other time you might have got attracted by the dress your friend is wearing. You search it all over the shops and in the websites of Internet and finally buy it. But the day you wear it, your friends or husband may give a comment that it doesn’t suit you. Upset and irritated on all the investment in the dress you end up throwing it way back in the closet. Isn’t it a waste of money and time? Just think before buying something out of mere temptation & even if you like it a lot, think – “Will that suit me?” Not all items suit all humans.
10. Comparison makes more complications
Never compare yourself with anyone as it leads most people’s life to either disaster or big time debts. When you compare yourself to a friend and his earnings, then you will feel buying a bigger car than him,, when he buy a small one. You might not be aware of the truth that he might have got it from his employer as a token of appreciation or from his wife as a birthday gift. You get restless when you find that your wallet is not able to afford the money for car and you end up signing up for a big debt giving it an attractive name “Car Loan“.
Later you will have to sell the car to call off the debt, after waking up to the fact you cannot afford that kind of luxury. What is your gain here? You have to sell your car and perhaps even pay money out of your own pocket as interest. You just helped the bankers to earn few thousands out of you. Supporting others economy is more important for you than your own?
Be cautious about all the actions, big or small that can affect your wallet. Every moment you have to take your wallet, just give a second thought – Is it worth it???
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