5 Money Saving Tips

Millions of people are suffering from economic problems. Learn how to save more money by cutting back on your spending.

1. Don’t buy things that aren’t necessities. This tip seems simple enough, but how many people actually apply it to their everyday lives? The truth is that we all blow our hard earned money on material objects which simply aren’t necessary. These things only end up cluttering our homes and being the source of frustration in the long run. A very straightforward way to nip this problem in the bud is simply stop buying things you do not require in order to live. You can do this simply by taking ten seconds to think about buying an item before placing it in your cart. Thinking of blowing $20 on a candle? Take some time to think. Do you really need another candle in your home? Learn to separate your wants and your needs and if something is not on your “needs” list, don’t buy it.

2. Cook for yourself instead of eating out. This is another no-brainer, but unfortunately it’s one of those things that is sometimes easier said than done. We all lead busy lives, and sometimes it’s more convenient to eat out or order takeout for dinner. While ordering takeout may be more convenient and less time consuming, the truth is that it costs. Find some simple, easy-to-make recipes that don’t take too long to prepare, or better yet, prepare your meals ahead of time on the weekend and simply reheat in the oven on those nights when you’re busy.

3. Clip coupons. This one probably sounds like another no-brainer, but the fact of the matter is you can find tons of bargains in your local Penny-Savers. During these troubled times, every little bit helps. Even if you just save a few cents here and a few bucks there on grocery products, by the time you reach the checkout lane, those savings can really add up.

4. Sign up for free customer rewards programs. Many stores offer some type of free customer rewards programs. Joining these rewards programs can really come in handy and save you a bundle over time, especially if it’s a store you frequent often. Most rewards programs will save you at least 10% on your overall purchase, as well as offer you other discount deals and reward points (or dollars) back. This can especially be beneficial during the holidays, when your pockets really start feeling like they have holes in them.

5. Use the thirty day rule. This one is a bit more difficult to follow, but well worth it if you do. Anytime you think of making an important- or even semi-important- purchase, hold off on it for thirty days. If it’s important enough, the itch to buy it will still be there after a month. If not, most likely you will forget about it- meaning it was good that you waited. Waiting thirty days before making a purchase just saved you money.

There are plenty of other suggestions to follow when trying to keep money in your wallet during these lean times, but the above five tips are good for starters. It takes a little bit of getting used to in order to spend frugally, but once you do, rest assured it is well worth the effort.

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