7 Incredible Money Saving Ideas
Saving money is very important for most people. With the economy still unstable it is important to put aside money for emergencies. There are seven great ways to save money that are easy to do.
Set a Budget
A budget is very important for every household to have. A person needs to see exactly where their money is going every month so they can make plans for savings. To make a budget a person has to take add up their household income after taxes.
They then have to write down their expenses. There will be some fixed expenses such as rent or mortgage, car insurance, car payments, and other loan payments. They need to include their variable expenses such as utilities, food, and even entertainment. The amount of money that a person is spending should be less than how much money they are making. I use Profit Accumulator to help me earn a little extra from matched betting. A person can then use this information to make cuts in their spending. They can spend less money on entertainment or take measures to lower their electric usage.
Purchase Reduced Food
Many stores reduce the price of foods that are set to expire within a couple of days. This gives a shopper the chance to save money. If a person purchases these foods and cooks them within a day or two the food is still fine to eat. A person will pay much less for the meal and still have good food. If a steak retails for $10 a person should wait until it is reduced. They can get the same steak for $5. The store often reduces the prices on items that are able to expire so they can make some money on them. This is much better then throwing them out.
Planning out meals ahead of time is another great way to save money. A person can go through the sale paper from their local supermarket and plan meals that are based around the sale and other coupons they may have. Everything they need will be right in their house and all they have to do is prepare it.
Think Before Purchasing
Before making a purchase of a non essential item a person should take the time to think about how much it is really going to cost and how long they will have to work for that item. For example if a person wants a pair of shoes that is $80 and they only make $10 an hour they will have to work one full day to purchase the shoes. For many people they are not worth it. This will help keep things in perspective and help a person find a cheaper alternative.
Pack a Lunch
Packing leftovers for lunch at work will help a person save a lot of money. The average lunch that is packed at home will costs a person around $2.50. When a person purchases lunch every day they spend $5. This will help a person save around$500 a year.
Buy Clothing Off Season
The best time to get new clothing is during the off season time. A person can save a lot of money by purchasing clothing for winter in the spring and summer clothing during the fall of the winter months. During the off season a store is looking to get rid of this clothing to make room for the new clothing of the season. Stores mark this clothing down and a person can save up to 70% off the original price. This will allow a person to get what they need without having to pay high retail prices.
Weather Proof the Home
Making some small repairs around the home can help a person save a lot of money. Any cracks or holes around the windows or doors should be caulked. This will allow the heat to stay in the home during the winter and the cool air to stay in during the summer. This is a simple thing that can be done to save money. Caulk is inexpensive and can be found at the local hardware or discount stores.
These are just some of the top ways that a person can save money. These tips are easy to do and do not require a significant change in a person’s lifestyle. By following these money saving tips a person can save thousands of dollars every year.