Quick tips to save Money

Saving money can be one thing that people find very difficult but in reality, if you follow some very simple steps it can be a lot easier. When you start looking at saving money, there are no strict rules for everyone to follow, it all depends on your own circumstances and what works best for you.

Money Saving

Money Saving

  • Budgeting – You should always budget your money, budgeting is great way to make sure you don’t overspend from month to month. You should always know what your income and expenditure will be for a given month; this helps you to ensure the necessities are paid for. Planning ahead this way ensures that you will never struggle to pay off your bills when it comes to the end of the month.
  • Never spend more than you earn – This is vital and it basically links to my post about budgeting. If you spend more than you earn then you are basically building debt. To make sure you never spend more than you earn, you should set up a budget whenever you receive money, for example whenever you receive your salary.
  • Set yourself some financial goals – Having something to aim towards financially can really help you get where you want to be. If in this case your aim is to save money, then you can set yourself some aims that are measurable and realistic. An example of this could be that you want to save £20 every week for two months; you can set yourself a long term target and split it up into manageable objectives.
  • Compare your bills – Using price comparison sites, you can search for prices from various providers of regular household bills, from utilities to your mobile phones to see if you can save money. Price comparison sites do the hard work and they compare a lot of the main providers so you can see how much you can save in an easy to read list.
  • Shop smart – Try and shop to a specific list when you go food shopping, by doing this you can try and avoid the big impulse purchases that bump up your shopping list, it’s a good way to try and stick to the necessities.
  • Bike to work – If your place of work isn’t far away from your home, then you could take up biking to work, it can save you of petrol money, and it also helps you to do your bit for the environment.
  • Savings Account – Using a savings account is a great way to help save you some extra cash. You can set up an automatic payment from your normal bank account, it doesn’t have to be a lot of money and it will steadily rise over time, leaving you with a nice surprise when you come to check your account.

I hope these money saving tips will help you on your way to achieving what you want from your finances.

Bio: This article was written by Andreas Nicolaides, a finance author for MoneySupermarket.com.

Start saving money today

Saving Money

Saving Money

People get stressed at the thought of saving money.  The habit of saving money  should be inculcated right from the time we are young.  There are so many expenses which might just crop up at any time and if we do not have the requisite resources, then we are sure to get stressed.  To avoid such a situation, we need to start saving money today by ourself.  The habit of saving money gives us financial freedom and you can live comfortably and happylife.  Adhering to simple and time-tested personal financial tips can help you save considerable amount of money which can be fruitfully used for something else.

Try out free samples
Companies which launch new products offer free samples of their products.  Go in for these free samples.  Check out with these companies if they are offering something for free.  Check out the websites of these companies online and make a complete list of such companies.

Make improvements and changes in the way you spend
You can always make changes in the way you spend your money.  Bringing about simple changes in your spending habits will help you spend less.  Start paying money by cash and refrain from using the credit card.  People who use the credit card end up buying excess things.  This mans that you will not shop if you do not have the cash to pay for it.  Buy only those things which are necessities and which you can afford.

If you are totally addicted to shopping, then you are without doubt a shopaholic.  This habit can be changed and this is sure to benefit you.  Pay off the bill and totally forget about it.  Do not keep credit cards in your wallet as you would be tempted to shop and spend.  Write down things which you feel are a complete emergency and which you cannot do without.  You are supposed to use the card only for such items.

Impulsive buyers
There are many individuals who enter the shop for buying one item.  But the problem is they end up buying too many things and purchase everything they see. Impulsive buying is dangerous as it would drain your finances.  Companies lure customers by offering generous discounts and offers and we are tempted to buy them even if it does not serve our purpose.  The retailer and wholesaler stand to benefit by this and we are in no way benefitted.  Hence, get over this habit of buying on impulse.  Think smartly and shop smartly.  Make a check list of things which you need and only stick to this list.  Once you have filled the cart with the required goods, pay the money and leave the store without doing any further window shopping.  This is extremely dangerous as you will end up buying more items.  A strict buying pattern slowly becomes a routine and you are sure to save money. Your wallet too is going to feel happy about this change.

Never spend everything what you earn.  Set aside at least ten percent of your income and invest it wisely and prudently.  This money will be of great help during your retirement and for the future also. Coupons are the best way of spending wisely.  Investing in coupons is advised.