best Saving Money-Simply
We all know how to spend our money, but do we fully understand how to save it?
I am not talking about setting aside a reserve for an investment or rainy day purposes – both of which are good things – rather, saving money on everyday items. Here are some simple ways you can save money:
Clip Coupons. You can save on your shopping excursions by clipping coupons. Some stores will even double or triple manufacturers’ coupons up to a specified amount [typically, one dollar] as an added incentive to bring you in.
Comparison Shop. The worldwide web gives shoppers the opportunity to compare prices and shop right online for almost any product available.
Order online if the item is cheaper than ordering in person. Don’t forget to take into consideration shipping,
handling, and taxes when ordering via the web, however many online retailers offer free shipping and taxes are not always universally assessed.
Energy Efficient Appliances. Your old refrigerator or washer is an energy eater. When you shop for a new unit, check to make sure that the energy rating is high.
Do not, however, pay hundreds of dollars more for a product if only a slightly higher energy rating is promised. Learn which models produce the highest possible energy rating for the money.
Get Free Samples. Manufacturers enjoy giving away samples of their products. Sometimes all it takes is a letter or an email
to the appropriate department and your freebie will arrive in the mail in the form of merchandise or as a coupon allowing you to purchase the item locally for free.
Shop The Clubs. Warehouse clubs such as BJ’s, Sam’s Club, and Costco offer savings that shave 10-30% off of supermarket prices. Many take coupons too!
Sssh! Go To The Library. The big book retailers offer a wide selection of books to their customers. However, you may be able to find that same title at your free public library.
If not, ask a librarian if she would order the book for you. A free book is better than the $30 you would have paid for a bestseller, plus latte!
Use it Again; Recycle. Maybe the item you are tossing can be used again. If you definitely have no use for it, sell it at a garage sale[or online via an auction site] and keep the earnings. In any case, you are contributing to a clean environment by not adding to already overcrowded landfills.
There are many other ways for you to save even beyond those that I have mentioned.
All it takes is a little bit of imagination and some initiative and you will soon find yourself saving money on in ways you previously did not think of.
Saving for Your Future
We all know that we should save money. But something so easy to say can be quite difficult to actually do.
Saving money is the basis of building your financial future. However, many consumers are putting it off one more day.
Those days turn quickly into years of lost money. Without savings, the chances of meeting long-term financial goals and achieving financial security are quite miniscule.
In order to save money, you have to control your finances. Saving has nothing to do with how much you make.
It has everything to do with how you control your money. If you have lots of credit card debt and live paycheck to paycheck, you are not in control of your money. And you aren’t saving for the future either.
You have to spend less and save more. The two are tied together. In order to save, you have to start spending less.
And it all really isn’t that difficult if you just start doing it.
First, sit down and write down your financial goals. Just ask yourself what you want from your money.
Perhaps you would like to have a downpayment for your first home. Maybe you need a new car. Make long-term goals, such as retirement, and short-term goals, such as new living room furniture.
Give each goal a dollar amount and a time frame. In order to save, you have to know what you are saving for. You have to have a reason to put your money aside.
You will need to set up a seperate savings account. You probably know that leaving the money in your checking simply won’t work — you will spend it.
Have a savings account that you can easily deposit or transfer money into. Many banks will set up an automatic withdrawal to your savings each month. This is a easy way to set it and forget it. It is paid just like any other bill.
Over time, you will see your money start to grow. This is rewarding and exciting. Most people become motivated to save even more. Saving and investing can become addicting in a good way.
You will find that a written budget is almost essential for saving money. You need to know where your money is going in order to make changes to the way you spend.
A budget not only tells you where you are spending, but it can help you plan how you spend.
Include into your budget a debt reduction plan, and your budget will make the most of your dollars.
Budgeting is simple and doesn’t require you to sacrifice your entire lifestyle. It is just a plan to get where you are going.
If you do have a lot of credit card debt, you should focus spending your saving money on eliminating that debt. It would be wise to put a small amount aside for emergencies,
but the vast majority of the money you are saving right now needs to be going to your debt.
The reason why is simple. Why pay 20% interest on a credit card debt when your savings are earning 2% to 10% in interest.
You are spending more than necessary. Wipe out that credit card debt first. It will save you more in the long run.
A lot of people really boost their savings by putting their unexpected money into their savings accounts.
Your bonuses, raises, tax refunds and overtime can really pump up your savings. You aren’t having to spend even less or cut back more, but you are seeing your account balance rise.
There is no real secret to saving money. You simply have to start doing it. That is often the hardest thing — the first step.
But once you see your finances begin to change and the interest start working for you, you will be hooked on saving for your future.
Tips To Save Money
Maintaining a budget is very important in the grand scheme of things as you want to make sure that you can take care of all the expenses that you incur in the course of living.
This is something that a lot of people are not aware of and they spend their life living paycheck to paycheck.
When you live in this type of state you have a big problem because there is no money available in case something should happen.
If you want to have a personal budget then you need to take on some money saving.
Saving money is not something that a lot of people are very good at. This is due in part to our nature to want to spend what we have.
But when you take the time to save a little money each time you are paid. This is a matter of some importance as you never know when you are going to need it.
The best course of action is to plan on saving ten percent of the money that you bring home. With this plan you will have a weeks worth of pay saved in ten weeks.
The money that you are saving should not be touched for any reason barring an emergency.
The reason that you are saving is to make sure that you have money should you need it for an emergency.
This will enable you to save a lot of money because if you have not saved for an emergency then you will be forced to go and borrow
the money which will compound the problem when you take into consideration the amount of interest that will be charged.
Personal budgeting is a matter of knowing how much money you have coming in and going out.
First off you would need to determine the amount of money that you need to pay out each week or month depending how you prefer to pay the bills.
Most people do not like to pay the bills on a weekly basis because the bills may change by the month.
Once you have determined the amount of money that you have going out each month then you will need to determine the amount you need to set aside each week.
Most often you will find that you can set aside forty percent of the pay that you receive and you will actually have more than you need.
The budget that you set up should be stuck too no matter what. A budget that will do no good is one that is not stuck too.
The budget amount that you set should not be your entire pay amount. If you are finding that you need to save all or nearly all of your pay
then you should take the time to check out the expenses that you have. There may be some things that need
to be trimmed, because you are operating outside of the money that you have coming in.
Setting a personal budget and saving some money is a requirement to lead a life that is not ruled by money or the lack of it.
Self-Discipline And Saving Money
A great way to save money is to be aware of the fact that one has the power to define the state of his finances specifically
through a conscious effort of disciplining the way one spends and controlling one’s expenditures.
Self-discipline will most definitely be the key to reducing one’s debts therefore increasing the possibility of growing one’s savings. And in the long run, improve one’s standard of living.
According to money management book author Robert Hastings, “Undisciplined money, usually spells undisciplined person”.
Therefore, if one notices how his hard-earned money seems to slip away so darned easy, then it is about time that he rethinks his ways and try to discipline his unpleasant spending habits.
One of the essential keys to successful money management, specifically saving money is to possess proper attitude. Self-discipline is at the topmost of this proper attitudes list, of course.
Only with self-discipline that people recognize that they do have the freedom and power to do the right thing over doing as their impulses dictate.
Sounds complicated? Well, not really. Knowing fully the fantastic rewards of disciplined money in a disciplined
person’s hands should be motivation enough for one to do all that is humanly possible to achieve that elusive financial stability everyone hopes for.
Here are some helpful money saving tips.
1. Realize that the most convenient method of building one’s wealth is through saving money. Money is the only sensible material to save.
2. Focus expenditures on the things one needs. Live day-by-day knowing that you have enough.
3. Avoid buying on impulse. Take your time when buying, especially the expensive items. If you really need it, it would most definitely not slip your mind.
Otherwise, if you go along forgetting all about it, then it isn’t really worth the money you have to spend on it at all.
4. Credit card debts hold the number one slot as the cause for financial drains these days. Control your spending by using your credit cards less.
Or for unavoidable circumstances when you really have to use the credit card, consider using the ones that charge less interest. Then dump the high interest ones for good.
No matter how you look at it, saving money is so easy to do. A little bit of imagination, some creativity and a lot of self-discipline will take you a long way in keeping hold of your hard-earned money.
Simple Secret to Savings: Start with a Single Step
“The journey of a thousand miles begins with a single step.” It’s as true with saving money as with anything else.
These days, we’ve been frightened into thinking we must save thousands of dollars immediately.
Most of us simply cannot do this, and the media does us no favors when it makes the situation sound so hopeless that we might as well give up.
Financial planning should be focusing on real people, people who have trouble saving, people who really need the help that instead seems geared towards the wealthy.
As a result, many of us think that if we can only save, say, $10 a month, then it isn’t worth it. Not true! Once you sock away that $10 and realize that you’re still okay, you’ll realize you can put away a little more.
Maybe you increase it to only $20 a month, but that’s $240 a year, plus the interest you’ll receive for putting the money in a savings account or money market. You only need $250 to open an IRA, and that’s a worthy goal.
Even if you stick with $10 a month, that’s $120 a year, and if you think that isn’t much money, you can probably afford to put away more.
The best part of this technique is that you get into the habit of saving. Once you do that, savings can grow and grow as your income increases,
your expenditures decrease, or you receive a bit of extra money from your tax return, a work bonus, etc.
Here are a few tips for saving more by starting small:
Pay yourself first. You’ve heard it before, but that’s because it works. When you pay your bills, write a check to yourself.
Depositing as little as $5 from each paycheck into a savings or money market account should get you to that initial goal of $10 a month.
If that’s painless, increase it to $10 per paycheck. If, after a couple of months, you find $10 is painless,
increase it a little more. Keep doing this and you might be surprised at how much you can afford to sock away!
If your employer offers direct deposit, even better. Open a savings or money market account and have at least $5 per paycheck deposited into that account.
Again, keep increasing this as you get comfortable with saving the money.
Do you spend $2 a day on coffee, a muffin, or some other inexpensive treat? Do that five days a week for 50 weeks,
and you’ve spent $500! Spend a little of that on a coffee maker and some ground or whole coffee beans, and put the rest into your savings account.
When you save money with good deals or coupons, consider putting the difference into your account.
Most importantly, get yourself into the habit of saving, and don’t underestimate the effect of saving just a little. All you need to do to begin the journey is to take that first, single step.
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