Most people want to improve their financial situation. As a rule, they think that the only way to attain the aim is to coin it in, but they forget about saving money. There are many simple ways of increasing the efficiency of personal economy, and we will suggest you several tips on how to save money.
1. Pay back credit card debts. These debts are very expensive, so you should clear them every month. If it is difficult for you, consider alternative methods, like low-cost loans.
2. Buy your own home. Some people are afraid of mortgages and prefer to rent a flat or a house wasting hundreds of dollars a year. Change your old attitude to mortgages.
3. Install a water meter. If you do not have it, most probably, you pay too much for your tap water. Companies supplying water have to make sure that they get profits so their bills can be padded.
4. Save on fuel bills. If you see that your fuel supplier's prices are not reasonable, do not hesitate to change it. There are many advantageous offers on the market.
5. Always make shopping lists. Supermarkets make you spend too much money. They use a number of clever tricks (sometimes called spending triggers). You can resist it by making a shopping list and following it strictly. Never buy something else.
6. Check your phone bills. Do you really need a home phone? Or maybe you keep it from force of habit?
7. Switch over to a profitable mobile package. If you do not use your mobile phone very often, get a pay-as-you-go package in order not to pay for what you never use.
8. Buy own-label brands. Most supermarkets offer own-brand products which can be very cheap.
9. Be strong enough to say 'no'. Your child may be pleading to buy him an expensive toy or some other stuff but you must learn to turn him down.
10. Never renew travel insurance automatically. You can do it right before the next trip.
11. Do not buy designer brands. You are not a celebrity and you do not have to wear very expensive clothes.
12. Put up you clutter for sale. You can do it on eBay. It is amazing how much money one can get selling unnecessary things.
13. Choose cheaper household and breakdown insurance. The Internet will help you to find the best offer.
14. Book early. This way you will be able to get the cheapest tickets.
15. Buy an economy car. If your car consumes too much fuel, which is expensive for you, trade it down.
16. Walk more. If you go to the work on foot, you will save on tickets and do good to your health.
17. Give up smoking. If you pack it in, you will save hundreds or even thousands of dollars a year, not to mention a great health benefit.
18. Drink less. How much do you usually spend when you go to a bar? How often do you go in such places? Don't you think that you can save some money on this habit?
19. Buy what you really need. Most people tend to make unnecessary purchases. Next time when you are about to buy something that is not in your shopping list ask yourself if you really need it.
20. Subscribe to a library. If you love reading you will constantly feel desire for buying books. A library will help you to save money on them.
21. Buy an e-book reader. This is one more way to save on books. E-books are much cheaper than paper ones. More than that, you can get many of them free of charge.
22. Wait for the sales. If you are going to buy something that you do not need right now, wait until the next sales. You will save a whole lot of money.
23. Do not buy lottery tickets. Al least, do not do it too often. The chances of winning the jackpot are about fourteen millions to one, and the house edge1 is up to 40% (compare it with 2,47% in European roulette).
24. Cut off TV channels that you do not need. Choose the most suitable package.
25. Learn to buy goods online. You can find the most attractive prices in web stores.
26. Collect coupons. Clipping them is a great way of saving money.
27. Learn to brew coffee. Home-brewed coffee is not only tastier and healthier, but also helps to save money.
28. Take packed lunches to work. Brown bag it and forget about extra expenses.
29. Learn to cook. This will allow you to save money on restaurants. You can find simple recipes of delicious meals that do not require special skills and much time.
30. Buy a water filter. If you have got a filter, you will be able to drink tap water and will not have to buy numerous bottles which can be pretty expensive.
Of course, there are many more ways of improving your financial situation. Buy you always need something to start from and these methods will help you a lot.
Some additional tips on how to save money are available in the video below.
Category: Personal Finance