Home
SEVEN SIMPLE WAYS TO SAVING MONEY
Here are 7 simple, easy to apply ways to saving money that work.
1. Be wary of the impact of TV commercials. Switch as often as you can to the channels which rely less on advertising dollars such as ABC on which you will not hear someone yelling ‘Buy now! Stock will run out tomorrow! You must have it or your life will be miserable!’ You will avoid temptation by doing so and not succumb to manipulation of your emotions.
2. For purchases, including online, use reliable retailers. You will not save any money if you become a victim of fraud or if you are unable to return goods.
3. Shop around. The internet is an effective tool to research products and is also useful for comparing retailers. Think before you make a decision. Don’t act on impulses. This applies to both online and offline shopping.
4. Budget. It is very important to know how much exactly you are spending. Use computer software or a simple paper record book to make sure you know how your money is spent.
5. Plan. You must have money for emergencies. Have at least three months of living expenses set aside for crises or unexpected situations. Start putting money aside every week or fortnight, and you will find that it accumulates fast.
6. Simplify. Having too many belongings is a moral burden. Take a look at everything you have in your possession. If it does not add joy, meaning or usefulness to your life, give it away. The same set of values should also be applied when you are tempted to buy something.
7. Use your credit cards effectively. Make sure that you are paying off your balance each month. Use a low interest credit card. Paying a high interest rate on your credit card will definitely cancel any advantages you might be offered by your bonus or incentive plan. Better still, aim not to rely on credit, there is nothing cheaper than no interest! The bargain value of a bargain is cancelled out by the cost of credit.
Please check out posts, and different features in the footer of this website (Twitter, YouTube, Ezine articles, etc.) for more information, products and services. And we would appreciate it if you could leave your comments and suggestions.