“A penny saved is a penny earned,” says Benjamin Franklin. Indeed, with the global economy just having started to emerge from the recession, money saving strategies have gained considerable importance and specific gravity. The ten best money saving tips below will help you manage your household budget more efficiently and with a greater ease.
1. Watch less television. When you are watching TV, you are constantly bombarded with commercials that prod you to spend money. Turn off the TV and you will save a lot!
2. The third money saving advice is called “the thirty day rule”. Quite often, we buy expensive things that we do not really need. Next time you decide to buy something and you are not sure if you really need it, just wait thirty days before making the purchase. Quite often, the buying urge abates with time and thus, you can save a lot of money by abiding to the thirty day rule.
3. Let’s start with the place where you keep your money – your bank. Does your bank really respect you as a customer? Believe it or not, you can save a fortune by answering this simple question. You should choose a bank that does not rip your pocket by imposing high maintenance fees. At the same time, the bank should provide a decent interest on your checking and savings accounts.
4. Never go shopping without first compiling a shopping list. When you are in the supermarket, stick to your shopping list just like the mariner sticks to his compass, or else - you may leave the shop with a whole lot of unnecessary things and an empty wallet.
5. Fast food is not a bargain. Not only is the fast food unhealthy, but it is often quite expensive. Try this: instead of buying a sandwich from the fast food stand near your office, make a healthier sandwich at home and eat it during your lunch break.
6. Plan your holiday carefully and well in advance. You can save a fortune on cheap all-inclusive deals and visit the coolest places for the hottest prices.
7. You can save a lot of money on tax reductions, if, for example, you donate your old clothes and shoes to charities.
8. Always turn off the light when you leave the room. Invest in energy saving solutions for your home. You may buy a tankless water heater, energy saving bulbs, and other appliances that save on energy.
9. Use your credit card only in case of emergency. Buying a pair of Bally’s shoes and then paying them off for the rest of the year is not an emergency. But if you need to pump some gas in your car’s tank and you don’t have enough cash, you can pay by credit card (especially if the next gas station is two hundred miles away). You know what I mean.
10. Look for bargains and deals. However, you should do it only when you really need something. Don’t go shopping for the sake of it. Stick to the money saving tips and you’ll manage your monthly costs more effectively.
Sources: Canadian Banks and Canadian Payday Loans
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.