Money means a lot, no matter where one is at present on the financial journey, but we all know it is possible that a single incident can turn the table around. So it’s important to save money for a financial crisis. Following are some saving tips that can help to monitor your spending habits.
1. Start selling, stop collecting
People have many things which they are not using. But still, they keep these things. In the first place, one should not buy such things, but since you already have them. try to to sell them off. Today we have number of online sites where we can our stuff; and use the funds for number of other worthy financial goals.
2. Sign up for free customer rewards
There are number of retailers who are attracting the customers by giving out reward point for every purchase you make no matter where you live. So try to sign up for such. Just create a Yahoo or Gmail address just for this purpose and collect as many cards you can. One can add these discounts and rewards to earn points on purchases at the store by using rewards credit cards for cash back or some other benefits. Remember the above point and buy only what you need.
3. Decide your shopping list and stick to it
Create a list before you go for grocery shopping, it’s the easiest way to save money as you will buy only things which are there on your list. When you are without a list, you tend to end up with unplanned purchases and making impulse buys, things that cost you money but are not really required.
Creating a shopping list not only helps you to buy items that fit your meal plan, it also helps in avoiding buying food which you might waste. It’s not about creating a list, but more importantly, sticking to it, that makes all the difference.
4. Declutter that closet
Look in your closets and find everything and anything which you are not using any more. Don’t just throw it away, use it for your benefit. You can sell those on eBay or the consignment shop, or donate it for the tax deduction. All of these options result in money in your pocket for the old stuff you don’t want anymore. Decluttering is also psychologically refreshing experience.
5. Move your bank account to get more perks
Now a day’s banks are offering a number of benefits to lure the customers, like greater interest rate or zero monthly fees for your saving account. Try to do a research of newest banking offers in market. Some banks even offer sign up bonuses just for opening an account and for setting up direct deposit.
6. Avoid convenient foods and fast food
Instead of nuking on prepackaged dinner or fast food when you get home, one should try to make something healthy and simple for yourself. An hour’s worth of preparation will leave you with a number of easy, cheap snacks and dinner options. This will not only save your money, but also keeps you healthy which is an even better result than just saving money.
7. Install LED or CFL wherever required
You can save money by being careful in your use of electricity. One should make use of energy efficient light bulbs that might cost a bit more, but have a longer life than normal bulbs. These use less electricity which results in saving money on your electricity bills. There are two types of bulbs you can use: CFLs or LEDs. Though LEDs are a bit more expensive than CFLs, they light up instantly, doesn’t get too hot, and last for decades.
8. Remove your credit card details from online sites
People tend to save time by saving their credit card details in online account. Its easy way to buy things just clicks and buys, which leads to unnecessary purchases. The best way to avoid this is simply delete your card information from your account.
In that way, you be forced to dig out your card and look for details which will give you some time to think whether you really need this or not. It is irritating filling the details time and again. Sometimes being forced to do these extra steps is all you need to convince yourself that you do not need these items.
9. Do price comparison
Most of us buy grocery from the same store without even realizing that some other stores have better deals. Just prepare the list of things you want to buy, and then shop the same items at different stores each time. Thus eventually, you will find which store has cheaper rates. Just make this store your regular shopping point and you will be able to save some money.
10. Avoid using credit cards
People use credit cards out of temptation, for impulse buys. You should use it for emergencies only. Hide credit cards by keeping them at a safe place in home, not in the wallet. Try not to carry it around as we sometimes we end up buying things which are not required, resulting in loss of money.