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The 10 Smartest Way To Save Money

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The 10 Smartest Way To Save Money

The is a really easy way for you to save money its really easy and simple you wish you would of done it sooner. You ready to here it? Well here it is, Stop using borrowing money, by using credit cards, line of credit, loans etc. The amount of interest you are paying it really isn't worth it.

A lot of people don't realize how much there $20.00 purchase or even there $5.00 purchase on there credit card is really costing them. For example lets say everyday you purchase your daily coffee using your credit card at $3.00 per cup of coffee 5 days a week.  That is $15.00 a week or $60.00 a month. Your interest on your $60.00 a month coffee purchases will cost you a extra $5.50 a month. If you don't pay your balance in full you every month and only make monthly payments on that $60.00 you will keep paying interest every month and it will take you 6 months to pay off. So stop using your credit cards cut them up and pay them off.

You need to really start thinking about all your purchases you are making, are they helping you becoming debt free and happy or are they temporary making you happy and more in debt. People think they need to have the best of everything to "show off" to the world and strangers it gives them/you this happy feeling inside knowing that these strangers and friends think you have lots of money when in reality you are living beyond your means.

Here is the 10 smartest ways to help you save your money and on the road to becoming debt free

1.) Cutting Up You Credit Cards

Plan and simple just cut them up and stop using them. If you don't cut them up or just put them aside you will be tempted to use them when you don't have any extra cash on you for that purchase you want.

2.) Hold A Yard Sale

Go through your home and all your junk and just get rid of it. You don't really need it remember you just want it. Having a yard sale will help you get a extra couple of hundred of dollars which you will then put onto your credit cards. The sooner you pay off your credit cards the sooner you will be able save lots more money.  You will also want to take your higher priced items of $5.00 or more and put on kijiji, eBay or craigslist.

3.) Entertainment

Canadians and Americans love to eat out, and spend hundreds of dollars a month doing so. Most of these people when they eat out at restaurants they mostly pay onto there credit cards to. So stop eating out and start making your own food at home. Then take your left overs for lunch the next day. Simple as that.

Got a health club membership? If you don't have time to use it as much as you'd like, it's just costing you money and making you feel guilty. Hit the streets for a walk or run, get out in the sun with some friends or use the park's exercise equipment. You don't need to pay for a bunch of machines you aren't using anyway.

We all love to buy new clothes, eat delicious food, hit the spa or see a rock band from the front row. But those things are called luxuries for a reason and should be purchased in moderation. You deserve to feel special and to treat yourself! Just make sure it's something you really want, and try to spend your money on experiences you'll always remember. Don't forget to hit of the thrift stores where you can and will find name brand clothing, purses, shoes for a lot less.

 

3.) Saving on Health

Did you know that all generic versions of drugs and baby formula are FDA-required to provide the same benefits as name brands? Name brand companies spend a lot of money on developing and marketing products, and the generic versions don't have to spend any of that. They pass the savings on to you, with products made from the same ingredients as their pricier counterparts.

If you've been planning to quit smoking, money is a great incentive. The benefits are far beyond just the money you'll save on the actual cigarettes: Your insurance premiums and health care bills will go down, and you may live longer. Dropping your bad habits is a great way to save money and raise your quality of life. Think of it this way: All those addictions and habits are just another way to send money out the door and get nothing in return.

4.) Saving on Household Energy

Whether you're putting away money for the future or just trying to lower your cost of living, there are many ways to save your pennies.

Building a financial future -- whether it's your retirement, your family's future needs or simply attaining your personal goals and getting the things you want -- all starts with saving. Saving is the best and most important way to make sure you're financially safe when it counts. And it's easy to learn how.

Saving doesn't just mean getting discounts on your purchases. It also means putting away money for a rainy day and pretending you never saw it; creating an emergency fund so that if something does go wrong, you won't be sick with worry; wiping out debt once and for all; paying off those bills that never seem to go away; and, eventually, it means putting your money to work for you.

By finding ways to lower your everyday costs, you'll build habits that can change the way you look at your life, your household and the future. But it starts with some basic principles and some potentially terrifying concepts: Budget! Savings account! Spending habits!

Those are just a few words guaranteed to scare you to death or fill you with guilt. But if you can step back and look at your patterns of behavior, your dreams for the future and the real impact of your choices every day, you'll be surprised how painless -- and fun -- saving money can be.

5.) Saving on Entertainment

Almost any information you want is available free, and up to the minute, online. Those magazines all over the house that you insist you'll read one day? You won't. Call and cancel your subscription today, and get a refund on the undelivered issues. They already have your address; now all they need to do is send you the check.

What about those little red DVD envelopes? How often do they sit around collecting dust because you don't have time to watch them?

Or the health club membership? If you don't have time to use it as much as you'd like, it's just costing you money and making you feel guilty. Hit the streets for a walk or run, get out in the sun with some friends or use the park's exercise equipment. You don't need to pay for a bunch of machines you aren't using anyway.

We all love to buy new clothes, eat delicious food, hit the spa or see a rock band from the front row. But those things are called luxuries for a reason and should be purchased in moderation. You deserve to feel special and to treat yourself! Just make sure it's something you really want, and try to spend your money on experiences you'll always remember.

6.) Saving on Food Shopping

When it comes to food, we often pay for convenience, when a few simple changes would make life healthier and less expensive.

Spending $6 a day on lunch means spending about $800 a year -- double that if your spouse or partner does the same. Brown-bag it just a day or two a week, and you won't only be eating cheaper, but healthier (and maybe tastier, too!).

Bottled water isn't just bad for the environment; it's also a great way to pay a lot for something you can get for free. Buy a faucet filter and some fun, reusable bottles.

Making your own coffee in the morning, instead of stopping at a chain, will save you tons of money each week. Stashing snacks at work and in the car means never having to hit the vending machines or a drive-through. A little prep time is worth a lot!

Planning your meals for the week based on what's on sale at the grocery store is a solid strategy (as long as you stick to your list). Have a snack before shopping, and go into the store knowing exactly what you need -- this can save you tons of cash at the register. The faster you're in and out, the less money you'll drop on nonessentials.

7.) Saving on Family Expenses

Choose generic versions of your family's medications instead of brand names, and you'll save a nice chunk of change.

Did you know that all generic versions of drugs and baby formula are FDA-required to provide the same benefits as name brands? Name brand companies spend a lot of money on developing and marketing products, and the generic versions don't have to spend any of that. They pass the savings on to you, with products made from the same ingredients as their pricier counterparts.

If you've been planning to quit smoking, money is a great incentive. The benefits are far beyond just the money you'll save on the actual cigarettes: Your insurance premiums and health care bills will go down, and you may live longer. Dropping your bad habits is a great way to save money and raise your quality of life. Think of it this way: All those addictions and habits are just another way to send money out the door and get nothing in return.

Anything involving your health, your family's well-being or your child's future is going to come at you with a lot of marketing behind it, because companies know you'll do whatever it takes to make sure you're doing the most you can. Make it a rule of thumb to check behind the curtain, and compare prices and long-term costs with things like life insurance, baby products, medicines and financial planning. Companies trying to make a sale may not know what's best for you and your family.

8.) Saving on Household Energy

Buying Energy Star-rated appliances and making sure your home is well-insulated and energy efficient are the best ways to save money on day-to-day electrical costs.

By turning off your computer or unplugging the TV or coffeemaker when you're away from them, you'll save a good bit of energy over the course of the year. The computer workstation you're using right now might be connected by a power strip. If so, turn that baby off when you're done for the night, and unplug anything else you're not using. Keeping your computer's energy settings on "power saver" is another way to keep from wasting energy.

Remember, wasting is the opposite of saving. While there may not be a single big change or trick that will drastically reduce your energy costs, being mindful of the way energy is used in your home will help you save a significant amount of money over time.

9.) Person Expenses

If your favorite shows are going to be available online tomorrow for free, why pay for cable? And if you do love your cable or satellite, compare your local providers' "bundle" offers. Here's a tip: You may pay less for cable and Internet by agreeing to a telephone landline, even if you'll never use it.

While each mobile phone plan may make financial sense for somebody, that doesn't mean it's right for you. There's a perfect plan out there for your particular circumstance, and that includes the best price. Compare service plans with your provider, and be realistic about your habits. It's nice to have 600 anytime minutes, but do you really use that many? Do you really need unlimited text messages, or could you get by with less? Try cutting back to a less expensive plan, and see if it still works for your needs.

 

10.)What Now?

Remember the reason you're saving in the first place: To build a store of money, not to move it around, to blow it on your next big purchase or even just to cut expenses. Create a strategy and habits that will eventually mean your money's working for you.

Establish a one-month grace period for purchases you're excited about. Write down what you want instead of buying it, and a month from now, see if you still want it.

When it comes to gift giving, the gifts we remember most are the ones that made us feel the best. A gift of service -- whether it's an evening of babysitting, lawn care or boarding a loved one's pet -- costs nothing, and for the recipient, it means you really thought about their needs.

Saving means spending less than you make; it's the only way anyone ever builds wealth. That means looking at money in terms of your hopes and dreams. Look for the best ways you can keep the money you earn for yourself and for your family.

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