The need for money never wanes ... only needs change with different phases of life. From owning a dream house, to going on a romantic holiday, or to enjoy a comfortable retirement, it is money all the way. Spending responsibly today and smart saving for tomorrow - is the maxim that eventually prepares one to face unexpected turnarounds in life. Have you decided to save money? Our money saving tips can help you produce amazing results. Start saving right away!
Money saving at home
Start incorporating moderate changes in your dwelling place. A few small changes can make a world of a difference to your finances.
- Prepare a budget incorporating weekly, monthly expenses. Try to stay within the budget. Analyze the spending pattern each month. Segregate unexpected expenses and those unavoidable. Take necessary action plan.
- Remember to turn off lights, electric or electronic appliances when not in use. Inculcate energy saving habits in children. All family members should agree to switch off lights while moving from one area of the house to another.
- Buy energy-efficient appliances. Read the refrigerator user manual as well as the air conditioner heater manual. Follow tips regarding temperature control as applicable to changing seasons.
- Switch over to compact fluorescent bulbs that last 10 times longer than regular lights.
- Provide lining to curtains as appropriate to prevailing season. Keeps heat in and warms up rooms during cold weather and vice versa during warm days. Helps in energy conservation.
- Use washable cloth dishtowels instead of expensive paper towels.
- Do not throw away transparent plastic wraps. They can be washed and reused at least a couple of times.
- Retain empty plastic food containers instead of buying expensive freezer storage containers.
- Crumpled aluminum foils can be used for scouring pots and pans.
- Prefer toaster-broilers or the microwave in place of the cooking range.
- Accumulate clothes and run washing machine to its optimum capacity. You would be saving power.
- Use the dishwasher after completing kitchen activities, thus economizing time and energy.
- While using the fireplace, use a glass screen to optimize heat gain.
- Keep the damper closed if the fireplace is not in use.
- Learn to do menial home repairs, painting, garden work etc yourself.
Money saving on fuel
Even though the prices of gasoline continuously move up, one cannot give up using cars or and opt for a public transport facility always. Drive smartly and comfortably. Use these tips to bring about a reduction in fuel consumption. Save dollars for a better cause.
- Save environment, save fuel, improve health by choosing to walk short distances.
- Go for hybrid cars. Save at the pumps and take other advantages that are extended by the government for gas-saving cars.
- While selecting other cars, take into account long-term fuel consumption pattern.
- Undertake a detailed study relating to economizing fuel usage. Consciously practice and reap the advantages.
- Check for fuel-efficient cars, talk to users and analyze its validity.
- Get familiar, understand and practice tactics that help reduce fuel usage.
- Drive intelligently. E.g., maintain same speed and avoid frequent braking and accelerating.
- Select shades to park the vehicle. Reduces heat penetration and keeps inside cool.
- Running the air conditioner on the highway helps in fuel economy. Alternatively, use the A/C to cool the car and then switch to the fan only.
- In stop-and-go traffic opt to open windows.
- During good weather using deep tread and big tires means more fuel usage.
- Check if tires are inflated properly. Under-inflated tires result in extra fuel consumption and wear out the tire tread too.
- Use the lowest octane mentioned in the user manual.
- Follow a scheduled routine maintenance of the vehicle. Get the engine tuned regularly.
- Well-maintained parts and fresh oil keeps the engine in good condition and result in less consumption of gas.
- Store or carry only required items in the trunk. Avoid dumping. Heavy objects add to the weight, results in less mileage.
- Long warm-ups means burning up precious fuel.
- Save time and money by planning activities that can be accomplished in the selected travel route. Fix minimum trips per day, save dollars and allocate for a fun-filled holiday trip with family.
- Using a GPS system can help save time and fuel. Global Positioning System helps to calculate the distance from the next state. The fuel could be cheaper, just fill enough to cover the distance.
Use free coupons
Coupons can be found in newspaper, magazines or in the mailbox. Use these tips and save money wisely.
- Collect coupons, sort by category, store in a coupon organizer.
- Read terms and conditions carefully.
- Check the validity date, locations where accepted.
- Calculate discounts or offers and compare with normal costs.
- Differentiate between genuine offers vs. a marketing gimmick.
- Check if the freebies provided with coupons are good.
- Keep aside cash saved by using coupons. Use for a special purpose.
Other ways to save
You can always procure the best goods for comparatively cheap rates, only if you know where to go shopping. Use these alternatives to spend less without compromising on quality.
- Develop healthy lifestyle. Maintain good health, quit smoking and develop a disciplined regime. You are cutting down on visits to doctor and related medical expenses.
- For vegetables and fruits, shop in a farmer's market. Meat, bakery products and spices too can be purchased. The goods are cheaper as well as fresh. Save on the grocery bill.
- Buy generic drugs, which cost comparatively lower than brand name drugs.
- Check less expensive treatment options that help to save money and avail quality service.
- Get magazine subscriptions online instead of buying from grocery store or retail shops. Scan various online magazine subscription deals for the best deal.
- Off-season traveling to select destinations reduces travel, accommodation expenses. Yet you get to savor the flavor while saving handful of dollars.
- If employed, opt for group insurance schemes, which are less costly, compared to individual schemes.
- Used clothing with no further use can be sold at consignment store or on ebay.
- Cut down on telephone bill; go for pre-purchase telephone talk time.