WAYS TO SAVE MONEY
1: Move bank accounts to take advantage of perks and earn more interest
If you’re paying a monthly fee for your checking or savings account, you would benefit from researching some of newest banking offers out there. Not only do some banks offer sign-up bonuses simply for opening an account and setting up direct deposit, but some offer attractive interest rates to new customers as well.
2: Stop collecting, and start selling
There was a time when people thought their collections would bring them riches. Beanie Babies were a big fad at one time, as were Longaberger baskets. Now you can find those items on resale sites like Craigslist and at garage sales for a fraction of their initial cost, leaving many people who sunk thousands of dollars into their “investments” wondering what happened.
3: Drink more water.
Not only does drinking plenty of water have great health benefits — it has financial benefits, too. Drink a big glass of water before each meal in order to stay fuller longer and ultimately eat less. Not only will you save on the food bill, but you’ll also feel better after you become properly hydrated.
4: Turn off the lights.
Keeping the lights on in your home may not be expensive on a per-watt basis, but it sure does cost money over time. To save as much as you can, turn off lights any time you leave your house – or even when you leave the room. Turning off lights when you have plenty of natural sunlight can also help keep your electric bill down over time. The bottom line: If you aren’t using a light, turn it off.
5: Decide On Your Priorities
After your expenses and income, your goals are likely to have the biggest impact on how you save money. Be sure to remember long-term goals—it’s important that planning for retirement doesn’t take a back seat to shorter-term needs. Prioritizing goals can give you a clear idea of where to start saving. For example, if you know you’re going to need to replace your car in the near future, you could start putting money away for one.
6: Quit using credit cards.
If you have a habit of getting into trouble with credit cards, hide your credit cards and keep them in a safe place in your home, not in your wallet. If you need to keep a card for emergencies, that’s okay. Just don’t carry it around with you. If you’re often tempted to use it, keeping your card “out of sight and out of mind” might help.
7: Avoid stress-spending.
It’s easy to justify spending money just to wind down from a stressful day at work. However, it’s rarely a good idea. Instead of buying things you don’t need to make yourself feel better, it might be wise to find other ways to de-stress instead.
Exercise is always a good option, as is meditation and even a good old-fashioned nap. Read, watch movies, or work in your yard if you’re stressed out. Spending money won’t reduce your stress in the long run.
This seems like an odd way to save money, but think about it. If you spend time with the people you love the most and come to some consensus about your dreams, it becomes easy for you all to plan for it. Set a big, audacious goal together and encourage each other to be financially fit – soon, you’ll find you’re doing it naturally and your dreams are coming closer than ever.
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