Finding Money to Save
With the economy in a recession everyone is looking to save a few dollars to watch their personal savings grow rather than cease to exist. There are some really great tips out there on how to develop a saving habit to ensure your personal finances are where they need to be. The following ways to save money are simply suggestions on how to save money.
Coupons
Tried and true but also trendy again one of the hottest ways to save money is by using coupons. There is even a reality TV show about how women and men use coupons to save on all of their groceries. To develop a saving habit with coupons you will need to invest a little time.
To start this process of saving you will need to first clip coupons from newspapers and online sources. Then you will need to cross reference your coupons to your store’s advertisements. Most stores will have weekly sales that will match up with the coupons, which will give you double the savings. You will also want to know the stores policy on using coupons. Some stores will double or accept double coupons.
Getting Rid of your Landline
Many people have a cell phone and a landline, yet they never really use the landline. This is what is known as an unneeded expense. To help get your personal finances in order you can cancel the unused landline without much of a sacrifice to your overall happiness. You can also look at lower cost alternatives to your existing service. For example by switching from one provider to another we realized a savings of $35 for the first 3 months and $25/month thereafter for a total annual savings of $330.00. If we’d cancelled the land line entirely we would have saved $540 a year!
Online shopping
Many people will look to the internet for better deals when having to shop for clothes or other products. You can definitely boost your savings habit by shopping online. There are many great online stores that will have cheaper prices than stores because they have no overhead. Their assets are digital instead of bricks and mortar and the cost of bytes is significantly lower than the cost of bricks. They can price their products lower, while still earning a decent profit. Many retailers are also willing to cover the cost of shipping and you may be subject to lower or no taxes as well as gas and time costs.
When shopping online you should also take advantage of the promotional codes that are given out on websites like Ebates.com. The sale prices you will get will only increase your personal savings.
Keep your Possessions In Good Working Order
When the economy was better many people were much more ready to throw away their belongings to just buy new ones. Now that everyone is taking a harder look at their personal finances they have begun to realize it is much more economical to maintain what you have. If there is a small stain on your shirt or your car needs a few small repairs it can save you a lot of money to simply maintain the product.
Regular oil changes and checking the air pressure in your tires on a monthly basis can result is savings in fuel and wear and tear.
Get rid of Cable
To save money right now and to maintain your personal finances you can simply save by getting rid of your cable. There are some really great sites like Netflix.com and Hulu.com that offer television services for substantially less than most monthly cable bills. These internet entertainment sites will really help you increase your personal savings.
The Savings Ball is in Your Court
Now that we’ve shown you how to save hundreds to thousands a year it’s up you to bank your savings. Here are a couple of rules:
- Pay yourself first. Set aside 10-30% of each paycheck for your savings account. Many companies will direct deposit directly to your retirement or savings accounts. If you don’t see the money you won’t miss it.
- Give yourself a purpose for saving. Saving for a rainy day just isn’t enough. Know exactly why your saving; to buy a house, a car, retire early, fund education, your dream business or to attain financial independence.
Bonus Savings Tip for AFCA Members
Finally, if you’re an AFCA member, sign up and take advantage of the fantastic savings on just about anything you can think of through AFCA’s exclusive member’s savings program!
