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6 Best Saving Tips

6 Best Saving Tips

Posted On:2016-03-14    Category: Business & Finance
6 Best Saving Tips

 

Saving Is always a challenge to many especially the youth.

To all experiencing this challenge  i have you covered, below are 6 best saving tips:

Stick to Your Budget

Most of us run out of money just before payday because we’re terrible at staying within the boundaries of our budget. If you can get yourself to stay within your budget for just one month, you could still make a difference. Maybe keeping up with a few good personal finance blogs will help in this regard as well.

Getting Organized

Just being organized can save you a heap of cash.This helps you keep track of your financial proceedings.

Stop Collecting And Start Saving

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.

If you want to avoid that situation, don’t collect items of questionable value. And if you want to recoup some of the money you’ve already spent on collectible items, you can start selling them now and use those funds for any number of worthy financial goals. 

Clothing

  • Look for sales at discount outlets. There are huge price differences between clothing on sale at discount stores and that sold regularly at many department and specialty stores, though keep in mind that prices at the latter are often deeply discounted.
  • Consider purchasing previously-used clothes from Good Will, second-hand stores, or school or church thrift sales. With a little effort, you can find low-priced, high-quality used clothing items that can be worn for many years.
  • Assess clothing in terms of quality as well as price. An inexpensive shirt or coat is a poor bargain if it wears out in less than a year. Consider fabric, stitching, washability, and other quality related factors in your selection of clothes.
  • Clean clothes inexpensively. Wash and iron clothes yourself. If you use a cleaner, compare prices at different establishments. A 50 cent difference in cleaning a shirt, for example, can add up to $100 a yea
- See more at: http://www.americasaves.org/for-savers/make-a-plan-how-to-save-money/54-ways-to-save-money#sthash.9T1HnstO.dpuf

Be Time Conscious

Having a good sense of the passage of time is a skill. A successful career relies on being punctual and conscientious. I find that the easiest way to keep track of time is to have clocks everywhere. When you can actually see time represented, you are likely to be more conscious of the amount of work you can do and procrastinate less. Keeping good track of time prevents spending money on cabs or breakfasts on the go because you’re running late!

Bring Your Own Lunch to Work

The amount of money you can save by bringing your own lunch to work instead of heading out to an eatery or the corporate cafeteria over the course of a year is pretty amazing.  If you could pay for one person to live for three years, three people to live for one year, or thirty people to live for a month, wouldn’t that at least bring a smile to your face?

While you’re saving on food money, help feed someone else by donating to the Friends of the World Food Program.

Write a list before you go shopping – and stick to it.

One of the easiest ways to save money is to only shop when you have a list. Because when you’re without one, you typically end up making impulse buys and unplanned purchases – all things that cost money.

Creating a list before you go to the grocery store is especially important. Not only can it help you buy items that fit with your meal plan, but it can also help you avoid buying food you might waste. Always create a list and, more importantly, stick to it.

Clothing

  • Look for sales at discount outlets. There are huge price differences between clothing on sale at discount stores and that sold regularly at many department and specialty stores, though keep in mind that prices at the latter are often deeply discounted.
  • Consider purchasing previously-used clothes from Good Will, second-hand stores, or school or church thrift sales. With a little effort, you can find low-priced, high-quality used clothing items that can be worn for many years.
  • Assess clothing in terms of quality as well as price. An inexpensive shirt or coat is a poor bargain if it wears out in less than a year. Consider fabric, stitching, washability, and other quality related factors in your selection of clothes.
  • Clean clothes inexpensively. Wash and iron clothes yourself. If you use a cleaner, compare prices at different establishments. A 50 cent difference in cleaning a shirt, for example, can add up to $100 a yea
- See more at: http://www.americasaves.org/for-savers/make-a-plan-how-to-save-money/54-ways-to-save-money#sthash.9T1HnstO.dpuf

Clothing

  • Look for sales at discount outlets. There are huge price differences between clothing on sale at discount stores and that sold regularly at many department and specialty stores, though keep in mind that prices at the latter are often deeply discounted.
  • Consider purchasing previously-used clothes from Good Will, second-hand stores, or school or church thrift sales. With a little effort, you can find low-priced, high-quality used clothing items that can be worn for many years.
  • Assess clothing in terms of quality as well as price. An inexpensive shirt or coat is a poor bargain if it wears out in less than a year. Consider fabric, stitching, washability, and other quality related factors in your selection of clothes.
  • Clean clothes inexpensively. Wash and iron clothes yourself. If you use a cleaner, compare prices at different establishments. A 50 cent difference in cleaning a shirt, for example, can add up to $100 a yea
- See more at: http://www.americasaves.org/for-savers/make-a-plan-how-to-save-money/54-ways-to-save-money#sthash.9T1HnstO.dpuf

keep Your Receipt

The receipt you keep from buying groceries is crucial to saving money. Some grocery stores separate the food into different categories, making your receipt a handy list of your perishables. Use a magnet and stick the receipt on your fridge, then highlight the items so that you won’t forget they are sitting inside your fridge. When you use up something, make sure to cross it out. This way, you won’t waste anything – and you can really get your money’s worth!

Keeping your receipts also lets you easily double-check your spending with your bank transactions online. This is useful for finding any unauthorized transactions on your account. Keep a box specifically for receipts so that you can find them easily when needed.





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