5 Tips on How To Save Money

save-money-tipsHow to Save Money? In this world of tight budgets and economic uncertainty, the need to find ways to help save cash has people searching for how to save money tips so we’ve put offer these 5 tips on how to save money. It is tempting to try find a single thing that will save a household a lot of money, but the best way to do it is by altering many small easy things. In those areas you might only save a few bucks here and there, but you will find that it is the little things that can add up to save you a lot. Many of these ways might not be very obvious to you and some might be ideas that will have you scratching your head and asking why you hadn’t thought of this earlier. Here are five ideas that will help you start the ball rolling on how to pinch some pennies:
1- Stop shopping at convenience stores.
Convenience stores are notorious for marking up the price on items significantly compared to grocery stores. If it isn’t worth the hassle to go to a grocery store, you probably don’t need it anyway.
2- Avoid late fees when paying bills.
Pay your bills on time so that you aren’t charged that extra unnecessary amount. If the problem is a lack of organization and forgetting the dates, use a reminder service like Google’s calendar feature that can send you a text or email to let you know when due dates are approaching. If you are worried about not having enough funds, call ahead and see about changing the due date or getting an extension.
3- Save your change.
Make it a habit to keep all that pocket change in a jar. Use cash to pay for most things and instead of trying to give the right change, only use the bills. When you get home, drop that coinage in a jar and let it accumulate. You will be surprised at how quickly it adds up.
4- Carpool as much as possible.
You can be doing yourself and others a lot of good when you decide to travel together. It might not be as convenient, but it can help in the long run. Carpooling to work or taking the kids to school are obvious ones to do. You can also get to know your neighbor and coordinate shopping trips.
6- Buy Used or Discounted
You can find a decent collection of clothes and other needs if you will buy used or at discount stores. Shopping at consignment shops or Goodwill will provide you with some good options. Discount stores like TJ Maxx or Marshalls are good places to find good designer clothes for a cheap price. Yard sales are good places to look for things that you need for the home. Discount food stores will give you the most value on food products. The names of the brands may not be familiar, but you won’t notice much of a difference in taste or quality.
You can find many more ways to save money, but the keys are to get organized, be disciplined, and learn to sacrifice. There won’t be many how to save money tips that will save you much money on their own, but using several together will net you the results that you want.

Hopefully these 5 Money Saving Tips have whetted your appetite for a bit of daily cash saving. Here is a a useful video that offers 20 money savings tips that made a big difference in this person’s yearly cash flow and savings. She was able to save about $14,000 (CDN) per year just by simplifying her life.

We all know that we should be saving money and managing the money we do have better, but if you don’t understand the psychology and thinking that goes with being a money saver, you’re likely to be doomed to never be able to save your hard earned cash.  If you want to gain some insights into the psychology or mindset behind money saving, take a look at this very useful video that discusses various psychological tricks that you can can apply in your life to save money each month.

One of the tips that stood out to me was the Peter Drucker quote “If you can’t measure it, you can’t manage it” We often blindly and mindlessly hand over our hard earned cash without ever know where it went. Taking a bit of time to understand our personal cash flow can go very far on learning how to save money everyday even finding ways to save money on a tight budget.

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