Any expert would tell you to sit down and analysis your current spending habit before considering any money saving ideas and tips. You should do a budget of all your income and expenses and see how much money you have left at the end of the month. Armed with your spending information you should then consider the money saving tips below. Keep a record of how much you should be saving next month and compare the results. It is important that you continue this exercise annually.
In the current market it is difficult to know what to do with your savings so I suggest you consider looking at the last money saving idea for a tip that will save you thousands of pounds in the future.
Stop eating out. This is a great way to save money on food because eating out once can cost as much as the week’s worth of groceries! If you do decide to eat out, make sure you do not drink anything besides water. Drinks can easily add at least 2 to 3 dollars a person, and much more if it is alcohol.
Learn how to make your own laundry detergent. This is one of those money saving ideas that will save you more than you think in the long run.
How do you find out about sales? Sometimes you just walk into the store and find them. But if you want to save time — and even save money on gas — you could begin reading those sales papers that come to your home. Plus, you can hear about current sales at area stores on local radio and television stations.
It is easy to buy things without considering the future costs they impose on you. Something as simple as buying a fish tank and a few fish can add up to more ongoing costs than you might realize. You will need fish food, cleaning supplies, occasional replacement of parts and more. This isn’t to say that you shouldn’t get anything that will have costs, but be sure you know what they are and have decided that they are worth it for you.
On Ya Bike. Everyone seems to be complaining about the cost of fuel these days yet no-one wants to do anything about it. If you’re lucky enough to live within walking/cycling distance to work, leave your car at home. If walking to work saves you GBP20 per week – that’s a yearly saving of about a grand, not to mention the savings on repair bills and depreciation of your motor.
Consider cloth diapers. Disposable diapers will cost you about $2,000 or more for 2 years. Cloth diapers, even the really good, easy-to-use kind, will cost about $300-500 over those same 2 years. Even with the minor added expense of electricity and water, you’ll save a lot of money. Reuse those diapers on a second child, and you’ll save a total of $3500! Modern cloth diapers are so much easier to use, and you’ll benefit the planet too!
Hire a photographer that gives you your digital high resolution pictures on a file, that way you can make as many copies of pictures from your wedding day as you want without having to order them from your photographer. Hard to find but they are out there!
It is clear that there are many small changes that you can make to your day to day routine that will make a huge impact on your monthly expenditures. Be a little more conscious, of these money saving ideas, most importantly of what how much you spend and what you spend it on, and ask yourself if it is really necessary.