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Eleven Money Saving Tips
Eleven Tips to Save Money
I know you have heard some of these tips before but I can’t stress them enough and the real question is - are you using these tips in your life today? You and I both know there are hundreds of ways to save money and if you aren’t saving but you’re complaining about not having enough money – then what is wrong with you?
In these tough economic times - "money" can save you from hardship. Following are eleven ways you can start in small areas to get back to financial prosperity.
1. Cook Meals In Your Own Home. Do not buy those prepared meals that you have to add meat to or vegetables to. They cost too much and you can eat healthier if you start from scratch and cook wholesome foods. In addition you will save on your grocery bills. Put the extra money that you save in a savings account. You can also take the leftovers for lunch at work for more savings.
2. Don’t Spend $ on Coffee - Starbucks is my favorite coffee house. I love it with a passion. I drink a lot of Starbucks coffee but I do not buy it. I tell everyone I know that might be thinking about buying me a gift that I love Starbucks. As a result I have a handful of Starbucks Gift cards and when I want a latte or mocha I head straight for Starbucks and use one of my cards that one of my friends have given me.
Now Starbucks might not be your cup of tea but if you are a coffee lover like me you can make your own coffee, put it in a thermos and take it to work or wherever you are going and you will keep the lid on your wallet and save money and no, it is not tacky to walk around with a thermos.
3. Take Your Lunch to Work - Three or four days out of the week take your lunch to work. I know it gets boring and the best time to make this lunch is at night before you go to bed. If you wait until morning – it will not get done. I know. I have tried. But, at night it is a good time to put together a good lunch and it is another way to save those coins.
4. Use Coupons - Personally, I hate cutting out coupons because I generally end up cutting out coupons for things I never tried in the first place. But if you can stick to a plan and just cut coupons out for what you actually use - you can save lots of money on your grocery bill.
I tried it a couple of times without deviating from items I really use and I saved close to $100 on my grocery bills. It’s worth the subscription to the Sunday only paper (yep, I do not buy newspapers every day when I can read them online or at the library). Extreme couponing is also a good way to stockpile items and save $$$.
5. Walk instead of Driving - Well, I am fat, I admit it. I am not using euphemisms (overweight, pleasing plump or full figured). However, since moving to Hawaii – I have lost weight and I did it by walking. I walk everywhere. When I had a job (I was laid off because of budget cuts) I rode the bus part of the way to work and walked the rest of the way.
Now that I am working for myself I still take the time to walk. I walk to the beach (and sometimes I drive close and walk the rest of the way) and to the store. It’s more convenient to drive but I save gas when I walk and in spite of myself I am losing weight too. Try it.
6. Review Your Checkbook for Unnecessary Expenditures – That’s right, go through your checkbook line by line and examine it. When you see things in it more than three or four times and I don’t mean your rent or mortgage, credit card bills, grocery bills, etc., but when you see things like cigarettes, wine, shoe stores, or other unnecessary buys – it’s a clue that you are buying things that you might not need. Take that money and put it in a savings account.
7. Pay Bills Early. Paying bills early is much better than paying them on time. You save money by avoiding interest fees and whenever you can double payments up do so and get rid of the bill. Once it is gone – put the money into savings.
8. Stop Paying ATM fees - I cannot stress enough how you should avoid using other ATM’s other than your own banks so you can avoid ATM fees. If you need money fast – go to a grocery store and avoid the extra charges. Plan ahead so you know when you need money. Bank fees are more money traps.
9. Quit Buying on Impulse - Stores put items need the checkout to trap you and to take your hard earned money. Don’t fall for this marketing ploy. Just go through the check stand with your hands in your pockets and don’t pick up stuff that is luring you to open your wallet and spend your hard earned money.
10. Start a Coin Jar - Every night before you go to sleep, empty your wallet or purse of all your change. At the end of the week – take that change to the bank. Do not use machines that convert your coins into cash (they have these in stores so people can convert change). These machines charge a percentage to convert your money. Either roll it up yourself or just take it and count it with the bank tellers. Some banks now have the coin changers as well. Some banks also now have the change accounts where you can round off your checking account and they will put the change in a savings account for you and after a period of time they will match some portion of your savings. You can also just open a savings account for your change.
11. Save $5 a week – if you cannot do any of the above – just take a $5 bill and put it into a savings account at the end of each week. Don’t be embarrassed to “walk” to the bank each week to put your $5 dollars in your account. Be proud.
Finally, if you have an ATM for your savings account or an ATM that is attached to your checking that also allows you to access your savings account. Close your savings account and move it to another bank and do not get an ATM card. Savings means just that. If your checking account is overdrawn the bank will deduct the money from your savings account to cover the overdraft. An ATM card for your savings account is just another one of those money traps. Don't get caught in a "bank" trap.
Start saving right now…
I have just given you a few tips – there are thousands of ways to save money. Would you share the ways that you save with me? I am going to try 5 money saving tips each month in my own personal life to save money. I need your help with more suggestions (other methods) for me to save. Thank you. MzJeannie.