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How to Save your Money?
1. Turn off the television.
The Greatest way to save money is to drastically cut down on the amount of television you watch. There are a lot of financial benefits to this: less exposure to spending-inducing ads, a lower electric bill (and perhaps a lower cable bill if you downgrade your subscription), more time to focus on other things in life, such as a side business and so on.
Want to take things a step further? Consider cutting the cord to cable TV altogether.
2. Enough with the collection and time to sell
Many years ago people thought their collection would bring them riches. Beanie Babies were a big fad at one time, as were Longaberger baskets. Now you can find those items on resale sites like Craigslist and at garage sales for a fraction of their initial cost, leaving many people who sunk thousands of dollars into their “investments” wondering what happened.
To avoid situations like this, never collect items of questionable value. And if you want to recoup some of the money you’ve already spent on collectible items, you can start selling them now and use those funds for any number of worthy financial goals.
3. Sign up for as many free customer rewards program you can
No matter where you live, you’ll find plenty of retailers who are willing to reward you for shopping at their store. Here’s the basic game plan for maximizing these programs: create a Gmail or Yahoo address just for these mailings, collect every card you can, and then check that account for extra coupons whenever you’re ready to shop. You can add to those rewards and discounts by using rewards credit cards to earn points on purchases at a wide range of stores that can be redeemed for cash back or other benefits.
4. Get creative
If you want to save money while also giving generously, creating your own homemade gifts is one way to accomplish both goals. You can make food mixes, candles, fresh-baked bread or cookies, soap, and all kinds of other things at home quite easily and inexpensively.
5. Understand the 30-day rule.
Avoiding instant gratification is one of the most important rules of personal finance, and waiting 30 days to decide on a purchase is an excellent way to implement that rule.
6. Prepare a list before going out for shopping and please stick to it
One of the easiest ways to save money is to only shop when you have all what you are buying written down. Because when you’re without one, you typically end up buying things you didn’t plan for or budget for and this will cost a lot. Creating a list before you go to the grocery store is very important and not only does it help you buy items that fit with your meal plan, but it can also help you avoid buying food you might waste. Always create a list and, more importantly “STICK TO IT”.
7. Call friends over instead of going out
Going out to eat has a way of completely destroying both your food budget and your entertainment budget in one fell swoop. And no matter what, it is always cheaper to stay in with friends and come up with your own entertainment.
8. Spend less entertaining your children
Most children, especially young ones, can be entertained very cheaply. Play ball in the backyard; teach them to ride a bike without training wheels once and for all.
9. Negotiate rates with your credit card company or complete a balance transfer.
Now if you’re paying a lot of interest on your credit cards, it’s important to know that you do have some power as long as you’ve been making your payments. Not only do you have the right to negotiate your current interest rate with your credit card issuer, but you have the right to transfer your balance to an entirely different card as well. Start by calling your card issuer at the number on the back of your card and explaining your request. If you don’t make any progress with them, check out these balance transfer credit cards to find one with an introductory 0% APR that could help you save hundreds of dollars in interest over time.
10. Clean out those closets.
Go through your closets and find anything and everything you no longer use. Then, don’t just get rid of it, use it to your benefit.
11. Drink more water.
Now not only does drinking plenty of water have great health benefits, it also have financial benefits, too. Drink a big glass of water before each meal in order to stay fuller longer and ultimately eat less. Not only will you save on the food bill, but you’ll also feel better after you become properly hydrated.
Remember; tap water is not only just as clean as bottled water, it’s also free.
12. Avoid going to Fast food/ Restaurants
Now instead of eating fast food or just nuking some prepackaged dinner when you get home, try making some simple and healthy replacements that you can take with you. An hour’s worth of preparation one weekend can leave you with a ton of cheap and easy dinner and snack options for the following week.
13. Quit Smoking
As a smoker, you will know by now that your habit is not only expensive, but potentially deadly as well. If you want to add years to your life and save a boatload of money, the easiest thing to do is to stop smoking altogether.
14. Turn off the lights and save your electricity bill.
Keeping the lights on in your home may not be expensive on a per-watt basis, but it sure does cost money over time. To save as much as you can, turn off lights any time you leave your house – or even when you leave the room. Turning off lights when you have plenty of natural sunlight can also help keep your electric bill down over time. The bottom line: If you aren’t using a light, turn it off.
15. Increase your yard sales
Yard sales are a great place to score awesome deals on items you need anyway – think house wares, shoes, clothing, or even sports equipment. The key is, you have to be careful not to use the low prices found at sales as an excuse to buy things you don’t need. Advice; at your next garage sale, limit yourself to items that were already on your list of things to buy.
16. Purchase quality appliances that will last.
It’s worth the time to do a bit of research when you buy a new appliance. A reliable, energy-efficient washer and dryer might cost you quite a bit now, but if it continually saves you energy and lasts for 15 years instead of five, you’ll save significant money in the long run.
17. Compare price list of groceries and find the cheaper one
Most of us get in a routine of shopping at the same grocery store, and we may not even realize that we’re not getting the best deal. Fortunately, there’s a simple way to find the cheapest store around. Just keep track of the 20 or so things you buy most often, then shop for these items at a variety of stores. Eventually, one store will come out on top for your purchases – just make that one your regular shopping destination and you’ll automatically save money.
18. Share your dreams with those you love and also those that love you.
I know this is an odd way to save money, but think about it. If you spend time with the people you love the most and come to some consensus about your dreams, it becomes easy for you all to plan for it. Set a big, audacious goal together and encourage each other to be financially fit – soon, you’ll find you’re doing it naturally and your dreams are coming closer than ever.
19. Get to know how to fix things yourself
Many years ago, it was far more difficult to find ways to fix everyday items we have in our homes. But today, it should be a piece of cake. You can find online tutorials and videos that show you how to fix almost anything, and all for free. No matter what you’re trying to fix, it’s always worth a shot. Learning a new skill never hurts either. You can always go to places like http://www.youtube.com and get some tutorial videos.
20. Never look down on yourself after making a mistake
Even if you make 10 good choices in your life, it’s easy to beat yourself up and feel like a failure over one bad choice. If you make a big mistake and realize it, think about why you realized it now instead of then, and try to apply that later on. The memory of that mistake can end up being very valuable, indeed.
21. Never look back – Always look further
Don’t let the mistakes of your past drag you down into more mistakes. Instead, look ahead to the future. Learn to see past mistakes for what they are. Sometimes the best life lessons are learned through life experience, good or bad, so embrace your past and don’t run from it. Promising to do better and setting goals can help keep mistakes where they belong which is in the past.
22. Don’t ever give up
Whenever the struggle against debt feels like it’s too much, go read a personal finance blog or get a finance tips book and remember that there are a lot of people out there fighting the same fight.
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