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Make your money go further by cutting out those extras

Updated on March 21, 2011

Make your money go further by cutting out those extras

That is right, be strong and stop buying the things you really do not need. If the rich can do it, then why can't you? It is a proven fact that people with money are the biggest scrooges. That is why they are rich. In honesty, think about the wealthy people you know, how many of those buy goodies from the second hand stores and op shops.

You would be amazed. I thought they would be ashamed, or too embarrassed to admit it, but no, they are actually proud of how much money they save. Therefore, learn how to be frugal and join the rich and become richer yourself.

Checkout those op shops

Yes you can do it too! You will be surprised just what is available in these places. And you can often find new items of clothing, shoes, curtains, and all sorts of nic nacs.

Create a budget and stick to it

Write down everything you have to pay including all the insurances, licenses in fact everything you pay out each year. Allow extra for medical expenses, birthdays, and the normal incidentals.

If you get paid weekly, divide this amount by 52 to work out how much you need to put aside ever week. If paid monthly divide by 12. Put this amount away and do not spend unless for those on your list. Bank anything you can save.

Bank Your Loose change

Do you need to buy these?

  • Takeaway coffee everyday
  • Daily Newspapers
  • Magazines
  • Counter lunches
  • Impulse buys

Earn interest

  • We all have to pay bills. Instead of racing out to pay them straight away, keep that money in your bank, and pay it 3 days before it is due, I say 3 days to make sure you are not charged any late payment fees. That way your money is earning you interest instead of the supplier.

Prevent bank charges

  • Make sure you have money in the bank to pay direct debits when due. Overdraft charges are a killer.
  • Cut up those credit cards

Do not forget that shopping list

Shopping

  • Always make a list and stick to it
  • Buy multiple when on special or in bulk.
  • Shop once a week or fortnight to prevent impulse buying
  • Never buy at the corner shop its convenient but costs more
  • Buy seasonal fresh fruit and vegetables. They are cheaper than tinned or processed food
  • Buy generic on special. Watch the sizes, some look cheap but contain less.
  • Buy bulk, if you cannot use it, freeze or share with a neighbor.
  • Use rice, spaghetti, legumes to make your food go further.
  • Cook enough for two nights, freeze the rest for later in the week, or add curry to change flavor
  • Stock your pantry when things on special
  • Stack the freshest to the back. Keep an eye on expiry dates
  • Buy meat on special. Pack, freeze in flat packaging, this saves space and reduces thaw time
  • Plan your weekly menu
  • Buy required amounts, do not overstock
  • In winter, make soups and stews

Pictures from Flickr

If overstocked use it do not waste it

  • Make soups with leftover vegetables
  • Use leftover meat in stir fries or mince meat and make into potato pie

By following some of these suggestions, you can put extra money in the bank

How to save when traveling

Comments

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    • Eileen Hughes profile imageAUTHOR

      Eileen Hughes 

      8 years ago from Northam Western Australia

      Beatsme , I wouldnt know as never been there, but as long as healthy thats the main thing. thanks for stopping by

    • BeatsMe profile image

      BeatsMe 

      8 years ago

      Whew. Too many things to remember. I guess getting rich isn't easy. :)

    • Eileen Hughes profile imageAUTHOR

      Eileen Hughes 

      10 years ago from Northam Western Australia

      We would be lost without our friends. All though thats what friends are for to help us. Yes taking your lunch saves heaps. Thanks for stopping by

    • shailini profile image

      shailini 

      10 years ago from Bangalore, India

      Excellent tips. I also buy the stuff only that I need and hence I plan my meals a week ahead (breakfast, lunch for office etc). The lunch box alone reduces half of my monthly expenses as I have learnt from my friends.

    • Eileen Hughes profile imageAUTHOR

      Eileen Hughes 

      10 years ago from Northam Western Australia

      We all have to save money somewhere thanks

    • starrwriter profile image

      starrwriter 

      10 years ago from Cottage Grove, Wisconsin

      Very good hub. And very timely. Everyone can benefit from this information. Well done!

    • Eileen Hughes profile imageAUTHOR

      Eileen Hughes 

      10 years ago from Northam Western Australia

      Thanks alexadry, All we can do is try, it all helps bit by bit. Thanks for stopping by

    • alexadry profile image

      Adrienne Janet Farricelli 

      10 years ago from USA

      Great tips, I am trying to do a lot of budgeting lately, thanks!

    • Eileen Hughes profile imageAUTHOR

      Eileen Hughes 

      10 years ago from Northam Western Australia

      You have just given me an idea for a hub. What i do with my extra grown vegetables. Thanks Just rodney

    • Just_Rodney profile image

      Rodney Fagan 

      10 years ago from Johannesberg South Africa, The Gold Mine City

      It takes a lot of discipline but the end result is its own just rewards.

      When vegetables are in good supply set aside a few hours, so that you can pickle, and par cook and freeze. This makes for a lot of conveninient food, for which you pay a premium for in supermarkets.

    • Eileen Hughes profile imageAUTHOR

      Eileen Hughes 

      10 years ago from Northam Western Australia

      Thanks John, This happen so much when things are on sales. They do not need it, so just because its cheap people buy. What a waste thats for sure. Thanks for leaving those comments.

    • John Chancellor profile image

      John Chancellor 

      10 years ago from Tennessee

      I think I could go into 90% of the homes in the US and find thousands of dollars worth of items that are not and have never been actively used. This ranges from clothes, toys, furniture to exercise and entertainment items. We buy on impluse and fill our closets. We buy on want rather than need. We are a consumption based society. Our planet cannot sustain the current level of consumption (or waste).

    • Eileen Hughes profile imageAUTHOR

      Eileen Hughes 

      10 years ago from Northam Western Australia

      We can only try, but we all still spend tooooo much. thanks.

    • cgull8m profile image

      cgull8m 

      10 years ago from North Carolina

      I follow some of them but not all, you are right if we do this we can save a lot of money.

    • Eileen Hughes profile imageAUTHOR

      Eileen Hughes 

      10 years ago from Northam Western Australia

      Thanks for that.

    • topstuff profile image

      topstuff 

      10 years ago

      you gave a good saving plan.thanks

    • Eileen Hughes profile imageAUTHOR

      Eileen Hughes 

      10 years ago from Northam Western Australia

      Thanks you for that.

    • Rob Jundt profile image

      Rob Jundt 

      10 years ago from Midwest USA

      Excellent hub with ideas for basic financial common sense we should all abide by. Nice work.

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