Knowing how to save money is extremely important in tough financial times, and is quite easy to accomplish with the following 5 tips on how to save money each month.
Applying these 5 tips on how to save money can also prevent financial hardship for many people, especially if you
treat savings like a bill.
Most people are earning enough money to have a comfortable life, but we often spend it just as fast and that can be avoided by knowing how to manage your money.
So, here are 5 things you can do right away to save money.
Cut Extra Features Or Eliminate Your Land line
Many telecommunication companies encourage you to ‘bundle’ 2 or more services so you can save say $5.00 a month, but if you don’t use those features and they cost more than $5.00 you are wasting money. If you have a mobile phone consider eliminating the long distance feature on your land line. You may want to consider eliminating your land line altogether, and if you have high speed broad band connection on your computer, look into setting up a ‘Skype’ account on your computer; it’s FREE and you can also see the person you are talking to, if you and the other person has a video camera; which most laptops come with these days. This could save money monthly immediately.
Cut Extra’s From Your Mobile Phone
When money is tight consider cutting extra’s from your mobile phone service such as text messaging packages. Many people think ‘texting’ is cheaper than calling the person, but either look at your phone bill, or notice how often you play ‘text ping pong’. Many people are also paying for premium services like ring tones; find them FREE on the web, and do you really need to download songs, and sport to your phone, when you could save money by eliminating the add ons?
Cut Extra Channels on Cable or Satellite TV
Stop paying for movie channels that you probably don’t even watch much anyway. With the number of FREE to air TV channels growing by the month, it’s no wonder companies like Foxtel are advertising so heavily and reducing their prices. Instead of hiring a dvd, watch a movie on TV. Your local library will also probably have a dvd section, which wont cost you anything, and you can save money in the process.
Buy the Specials or Generic brand
How often do you buy a brand of food when there is a generic or home brand equivalent, or another brand on special? You can save a huge amount of money each time you go shopping by comparing the price of different brands, noticing what’s on special, and checking out the price of the generic range, which more often than not made by one of the leading brand manufacturers; you just miss out on the fancy packaging. Doing this will enable you to save money on your weekly grocery bill.
If you are a smoker, chances are that you are smoking and spending about $100 a week. That’s over $5,000 a year. If you have smoked for 10 years, you are getting close to have smoked away $50,000 and your health has suffered just as fast. Enough said on how to save money each week here.
So as you can see these are just a few way you can save money on what you may have thought to be fixed expenses in your budget. Even if you save just $10 each in a couple of these areas; that could be $30 to $40 you could be saving each week.