By John
Everything is going up these days – food, gas, energy, theatre tickets – you name it. Except, sadly, our incomes. Saving money to a greater or lesser degree is becoming a priority for most people. Here is the list of our favorite Tips For Saving Money.
Cash And Money Management
The first priority should be to pay off your debts, starting with the easiest and smallest ones first. Then you need to examine your credit card usage. Save money on ATM fees by going to your bank instead. Try to get a rate reduction on your credit card – then pay off the debt. Use cash whenever possible and just leave the credit card at home.
Move to a bank with lower maintenance fees and better interest rates on checking and savings accounts.
Consider moving to a cheaper state or area, or to a smaller house. Rent out any spare space you have. Ferret out and use all the old stuff in your house, or sell it.
Be willing to buy more used stuff. Make best use of thrift shops, eBay and yard sales.
Time your buying. Do seasonal holiday shopping immediately after the holiday is over. Buy perishable foods like bread and salads in the evening when they will be discounted.
Don’t over-indulge your kids with expensive toys.
Home
Save money by buying a used car that is reliable and fuel-efficient. Keep it well-maintained, do more of the basic maintenance yourself, and drive conservatively. Make less trips by planning ahead, and walk or bike or use the bus more.
Turn off/switch off running water and appliances when you’re not actually using them. Buy appliances for reliability and value, not necessarily the cheapest, and keep them clean. Seal your home against leakage of heating and cooling. Use programmable thermostats and turn the heating down by a degree or two, and the air-conditioning up by a degree or two, from the level you are used to. Replace your old incandescent light bulbs with CFL or LED ones. You could even take cold showers….
When shopping for the home, go for value rather than price. Sign up for free customer loyalty and rewards programs and use coupons as much as possible as long they apply to products you were going to buy anyway. Cut down on the fast foods, prepared meals and deliveries, and make more of your own meals instead. Be prepared to plan your menus around what is on sale at the time. Cook in big batches and freeze what you don’t eat immediately. Try your hand at growing your own vegetables if you have space for a garden.
Buy refills instead of new whenever possible. You can actually make many of your own detergents and cleaning products.
Entertainment
You can save a good deal of money by cutting out things that you don’t need or under-use (same thing, in effect): magazine subscriptions, gym and golf memberships. If you can’t drop them, at least try to get a cheaper rate.
Eating out less will save you – what – $60 or more for each meal? Why not invite your friends round to your house for a meal instead of eating out (they may also be trying to save money!).
You can make better use of the library for books, music and DVDs. This will help you to reduce the amount you spend on cable TV. Drop channels and services you don’t need or use, the same thing on your cell phone plan – it will all save money. Watch less TV and make more of your own entertainment – or read more books, or go to a park or museum.
Maybe not all of these tips will work for you, but they are certainly a good starting point for anyone seriously interested in saving money.
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