Money is at the center of our way of life in the civilized world, and understanding how to manage it is necessary for even modest success. Often, people neglect saving because they feel they simply can't save due to daily expenses that are too high. In most cases, it is possible to save a little bit even with the high cost of living. Here are a few suggestions to help you set a little something aside each month.
Keep a piggy bank! You can get a big plastic piggy bank at most dollar-type stores for a dollar or so. Get the kind you have to cut a hole in to open. When you get change back when paying with cash, put it in your pocket or coin purse. When you get home, put your change in your piggy bank. If you have a windfall, such as a gift of money, put a set percentage in your piggy bank. Depending on the types of coins and the sizes of other contributions you deposit, you should have a tidy sum when your piggy bank is full. Use this money to open an interest bearing account such as a certificate of deposit.
Make your own tea and coffee at home and carry them in reusable containers, if you wish to bring tea or coffee along. Filtered water and homemade tea and coffee cost pennies per serving. Compare that to several dollars for commercially prepared water, coffee and tea, and you can easily see that you will save a great deal of money by expending a small amount of effort.
One of the easiest ways to save money on groceries is to use coupons. Saving money with coupons takes a little planning on your part. First, you need to get coupons. It is recommended that you get one set of coupons for each family member in your home. For instance, if you are a family of four, do what you can to get four sets of each week's coupons. Ask friends or family members for their coupons or simply buy four newspapers. Just using coupons on items that you normally buy will help you save money. But if you want to save even more money, look at each week's ad and match up your coupons with items that are on sale. If you bought several sets of coupons, buy as many items as you have coupons for that are on sale. Sure, you will not need four jars of peanut butter this week, but wouldn't you rather buy them when they are on sale with your coupons then buy them full price when you need them?
To save even more money, make an investment in a freezer. With a freezer, you can stock up on meats and other freezable items when they are on sale. Meats are quite expensive, and if you can find a way to save money on these, you will have a lot more money in your pocket.
It may sound childish, but giving yourself a cash allowance can help you save money. Make an estimate of how much you will need for spending money, and try to stick to it. You may need to make some adjustments to your regular spending, such as eliminating morning coffee drinks or restaurant lunches, but the money you save will add up quickly. It is important to treat yourself occasionally, though, so you don't feel deprived.
Stop using credit cards unless they can be paid off each month. Credit cards are fine if you can resist the temptation to carry the balance over to the next month, where you will incur a finance charge. If you pay them off every month, you will save on interest and still work toward any rewards or frequent flyer miles you may have your eye on.
It is important to have goals to work for. If you are planning a vacation, tell yourself you deserve it, and save for the vacation you really want. Then enjoy it. You may even be saving toward something large, like the down payment on a new home. When you have a clear goal in mind, saving becomes a piece of cake.
Engaging in small, incremental savings, learning to prepare and enjoy your own foods and beverages and use your own power to get from one place to another will help you save an amazing amount of money. The fringe benefits of health and well-being are just icing on the cake. Follow the tips presented here to live a happy, thrifty life of abundance.
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