7 Tips For Saving Money
We all could use some help when it comes to saving money. That odd trip to the store for a sweater that results in a new wardrobe, or a trip to buy a new phone and we walk out with a phone, an answering machine, and a digital camera. These things happen, but adopting some frugal spending tips can make saving instead of impulse spending the norm.
Dont shop on payday. A freshly cashed check can start burning holes in pockets before money for the monthly bills and savings has been safely put away. Just because payday produces a large amount of cash, that doesnt mean that it should be spent in just any way. An uncontrolled day of shopping on payday may result in unpaid bills at the end of the month.
Dont shop for groceries when youre hungry. Buying food on an empty stomach is guaranteed to produce unnecessary spending; its an undeniable fact. Despite a well organized budget and a shopping list, hunger can take over and make you buy things you never normally would. Purchasing fast food on the way home from the store to squelch your hunger is another money trap.
Visit thrift stores and consignment shops. This works for kids when they are babies and toddlers. These stores have beautiful clothing that is in excellent condition. All it takes is a little searching to find a treasure or two at a fraction of the cost. Name brand clothing can be found here also. Thrift stores are a good alternative to hand-me-down clothing for younger kids.
Buy in bulk only if it is something that you need. While buying in bulk can be one way to save money, it is not true in every situation. Simply bringing a calculator with you to the store to check unit prices will help you decide which bulk purchases are really going to save you money. Becoming a member at a shopping warehouse is a good idea if you buy in bulk on a regular basis.
Ask for a rain check. Rain checks can aid your efforts to save money when stores run out of sale items. Even though some stores do not issue rain checks for all products on sale, dont let that deter you from asking for one. Dont buy something at full price without at least inquiring about a rain check first. Most sale prices have a limit, so buy as much as possible to save the most money.
Bargain shop when looking for services. There’s no rule that says you have to go with the first plumber that you call. All companies don’t charge the same amount. Checking two or three places will give you a good idea of how the prices stack up. Choose the one with the most services for the lowest price. If you are not sure, ask a friend who may have had the same need that you do now.
Purchase gifts throughout the year. Buying gifts year round instead of only at birthdays, holidays, and other special occasions will actually save you money. You can store such presents at home and always be ready when the time comes to give gifts. Great deals can be found by buying next years Christmas gifts when prices are super low during this years after Christmas sale.
A little bit of planning and effort can turn into big savings if you put these frugal spending tips into practice and make them regular spending habits.
Tags: Personal Finance