Common Sense Pointers On How To Save Money

MORE TIPS ON SAVING MONEY EVERY DAY

There are so many tips out there on how to save money that it's staggering. If we applied all of them to our personal finances I imagine we would be rich!

Here are some more ways people can and do save money and reduce their bills.

Not only that, there are also some great tips on how to not only pocket some extra cash but also some great ideas for preparing for things like holidays.

TIPS FOR SAVING MONEY OR GETTING AHEAD

Open a savings account. One source suggests an ING account. Put aside X dollars per month for your Christmas fund (this will involve coming up with a figure) and stick to it.

Use that money before the holidays to save as much as you can and shop as smartly as you can. You'll be amazed when you have only this amount to spend how much further you make it go!

Do this across the board for any big expenses like weddings, vacations, new acquisitions of any kind. It works!

Quit spending money on expensive photographs. Seek out cheap alternatives such as the $9.95 portrait specials offered at places like Portrait Innovations. Or even better, learn to take your own pictures and print them yourself or have them printed.

MORE MONEY SAVING TIPS WE CAN ALL USE

Get free magazines.  Go on line and check out what magazines are available for free and cancel expensive subscriptions.  If you must have the magazines you like, get them at the library and you won't pay a dime!

Check out different insurance companies.  Usually combining house and car insurance will lower your payment.  You should do your homework and having a great driving record will always get you cheaper rates.  So will being a student!  Bundling any insurance policies should save you big bucks.

Compare term life insurance policies with whole life insurance.  If you need cash and you have whole life insurance, you can borrow against it but you will need to pay the interest rates each year.  Similar to home equity loans, you have to pay on what you borrow.  Compare term life insurance with whole life and evaluate your situation.  Pick the most cost effective for your situation.  If you need cash, use it wisely.

Get to know Redbox and make it your only video rental source.  You will save tons of money! Just keep in mind you need to be disciplined to watch the movie that day and return it.  You also need to be aware that you will need to be disciplined enough to wait the 30 days until it appears!

Cancel any services or monthly expenses that you simply do not need.  This includes cable packages, gym memberships, subscriptions and things you've signed up for but never use.  You will have extra money in your checking account and you won't miss any of these things.

Reduce cell phone service and consider getting rid of your land line.  Loads of people are doing this to save money and it works.  Get the best plan for the least amount of money for your cell service.  Shop around and don't be afraid to haggle over the best rates, even if you've had them for a long time.  Long time users should be entitled to new sign up rates.  If you think about that and believe it, it will work for you.

HOW TO SAVE MONEY ON EVERYTHING

Pay half of your credit card payment twice per month rather than once per month.  You'll be reducing the balance earlier because interest is calculated on a daily basis. 

Buy generic prescriptions.  In fact, buy generic everything as much as possible.  You won't believe the savings.  Very few products do not have a generic equivalent which is just as good or just as effective including many over-the-counter medicines, cleaning products, etc.  Generic might equal store brand name.  Check it out!

Think about the season.  Microwave or crock-pot cook in summer.  Use the grill.  Use the oven in winter.  Use your dryer to dry some things that are lightweight but consider hanging clothes or buy a drying rack for heavy items.  Toss in the dryer when they are almost dry and you'll save a bundle.  Always keep your appliances in good working order and your dryer free of lint for maximum efficiency. 

Keep up maintenance on your car.  Replace your air filter periodically as recommended and increase your gas mileage.   Do it yourself and save more money.

Lower the temperature on your hot water heater to save cash.  Setting it to about 120 degrees is recommended to save money and for every 10 degrees you reduce it, you will cut your energy bill by 5%.  Use your ceiling fans in winter to circulate warm air....but reverse the direction of the blades.

Ask for discounts regularly.  If you're a senior or if you qualify for any discounts, find out if special days bring special discounts on things from food to clothing to appliances.  Also ask for a reduction in your property taxes!

MONEY SAVING STRATEGIES YOU CAN USE EVERY DAY

These are all basic things we can do to cut our monthly expenses and have more left over at the end of the year. 

Maximize your resources and always think about ways that you can do something cheaper. 

Little things like not eating out, packing your own lunch or tossing out the daily latte costs over time really do add up. 

Saving a hundred dollars here and a hundred dollars there, compounded over time will help you get ahead in life and let you have more to show for your hard work rather than less.

Good luck on the path of saving money.

If you have more suggestions for all of us trying to save money, please leave your comments in the space provided below.