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Tips for Saving Money
I believe saving money is in my blood. It comes naturally and, in my lifetime, no bill has went unpaid. I've lived at several different income levels, including the lowest of lows, yet I didn't sink. I play my money like the words in the song, "The Gambler". "You got to know when to hold em, know when to fold em" - you have to know when to cut back and hold your money tight and know when it's ok to release it, appropriately. The first step in saving money is to ask yourself if you truly have the desire to do so. That may seem a stupid question, but some people want more money, but they aren't willing to implement action to have more. In my neck of the woods, money doesn't fall from trees. That leaves the responsibility to me, to do something about having more. Saving more money requires a change in habits and differentiating between "wants" and "needs". 1. Get back to the basics. Cut out any unnecessary costs such as the phone service package that includes features you don't use; the numerous tv channels that aren't watched, the cell phones that every member of your family has, but doesn't really need, endless trips to the mall to buy frivolous items, etc. Downsize to the basics and put more money in your pocket. Downsizing doesn't mean you stop living. In fact, you may find you have more substance, both monetarily and otherwise. 2. Don't eat out or if you do, confine it to once a month and stick to this boundary. Instead of eating out being a habit, it becomes something to look forward to. Make a grocery list so you aren't tempted to buy things you won't use. Plan your meals and look at sale items to see what you can incorporate into your plan and save money. Make use of leftovers and don't throw food away. 3. Entertainment doesn't have to mean spending money. Take advantage of community events that are free - go to the park or hiking; borrow movies from the library; play sports in your back yard or community, socialize with friends and simple refreshments. 4. Buy used! - You can find good used furniture, clothing, household items and other needs at yard sales, thrift shops, Good Will, etc. Buying used, lessens your guilt when you decide you want to change the decor of your home or your fashion style. 5. If you don't have a savings account, set one up. Make a habit, a commitment to putting something in savings each payday - even if it's $5. Forming this habit means you are going forward, not backward. As you see the amount accumulate, you'll have more of a desire to add money to savings than to spend it on something you don't need. Small amounts of money can mean a lot. Don't prevent yourself from saving just because you can't add $100 at a time. 6. Did you have a yard sale? Earn extra money from babysitting? Get money as a gift? Maybe a refund or rebate? Put these extra sources of money into savings instead of splurging on something you don't need. Or let these earnings accumulate for that something special you've been wanting. I participated in a Nielson's tv survey a few months ago and they sent $5 as a "thank you". I still have that $5, along with earnings from two yard sales and the sale of an old vehicle. The stash is accumulating! 7. Find pleasure in "home sweet home". The need to always be OUT can get expensive with the cost of gas, upkeep of vehicles and the temptation to spend. Whether you are single or have a family, a lot of quality time and fun can be found at home. In conclusion: Assess your lifestyle and attitude toward money, spending and savings. Do you find yourself having a large quantity of "things", but little quality of life? Ask yourself why you have the need to buy. Maybe you are trying to fill a void. If so, the void needs to be dealt with in a constructive manner so you can add to your savings, not take away from your pocket and your quality of life. Downsizing and simplifying your life can enhance the quality and you'll have more money in the process. Saving goes beyond having more money. It empowers you to have more control over the quality of your life. |
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Dating Scoop
Dating advice and tips
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This intel was contributed by Kat
Kat
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May, 2012
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