- Personal Finance
Tips on saving money – important things that you may have missed
In this economy, everyone wants to stretch his / her dollar to the fullest. Lots of times, we just make unnecessary purchases or spend money without even giving it a second thought. Although the current economic situation is not a pleasant thing for many, it can really teach us valuable lessons about saving money and spending. Hope this hub will help everyone.
401k matching – Many companies still offer 401k matching for its employees. Many are used to spend all of their money so they do not contribute to the company's 401k plan. This is a huge mistake that can cost you in the future. No one will be able to work forever and will have to rely on savings once they get old. Social security will not pay for everything and the government might not be able to take care of everyone. 401k matching is free money the company is giving to you; you must take advantage of this program by contributing the full amount that they are matching. Once your money is automatically taken out before you see it, you won't even notice it.
Morning coffee – Most people need morning coffee to wake us up and start the day with efficiency. Although there is nothing wrong with that, the costs can add up if you buy coffee every morning. This is the number one cost that you can eliminate. Supermarkets and whole sale stores have coffee beans or grounds on their shelves for a small fraction of what a coffee shop will charge you. You will have to make it yourself but the savings will be worth the trouble.
Buying in bulk and with coupons will save you tons of money. Warehouses are able to offer you goods in bulk for a lower price. When you have a family with little boys, it is very important to purchase in bulk because everything will be eaten up before it goes bad. Coupons will also save you lots of money when used consistently. Many warehouses and other supermarkets have sales and coupons regularly. You will have to pay attention to those things because the savings can be staggering when done regularly.
Amazon cloud – Lots of people have smart phones and are capable of accessing the internet at all times. With internet and other capabilities, people need lots of memory to store their songs and other stuff. Phones with more build in memories cost a lot more than just a basic one. You shouldn't have to pay for those extra memory. Instead, Amazon cloud offers 5 GB of memory for free. You can access all of your songs through Amazon cloud anywhere and anytime. Best of all, there will be no charge associated with using it. As time go on, memory will probably come down in price and Amazon might offer more memory for free.
Buy clothes on sale or clearance rather than full price – Retail has at least 50% markups for their items. It is always smarter to shop the sales rack rather than full priced new items. However, even for a great price, you should not buy anything that you don't like and won't wear. Budgeting for fashion is all about getting the things you like for a great price.