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5 Tips to Save More Money

5 Tips to Save More Money

If you have a big family to support, are on a budget, prepare for the vacation or are up for something big to purchase, you want to save some money. Saving money can be difficult if you don’t know how to do it in an efficient way. To make the money saving job easier for you, we list five most important tips. Start saving today!

1. Avoid impulse shopping.

The first tip is about shopping. A lot of purchases occur at the first time you see some goods, but such tempted purchase can be avoided in a simple way. According to Jeff Yeager’s book “The Ultimate Cheapskate”, when you are in the impulse to buy a product, try to stop and not buy it in the first time. Instead, wait for several days to look back to see if you still want it. Most times, you’ll find that you have no urge to buy what you thought you have to buy any more.

2. Be a deal hunter.

This tip share similar idea with tip #1 that do not buy a good in the first store or on the first website you see it. Instead, do some search and look for deals of same product. Or, you can find out alternatives that comes with store brands rather than name brands. If you form a habit of buying groceries with store brand, you can save a lot.

3. Become an energy miser.

Energy bill is a large share of your monthly bill and you can save money by becoming an energy miser and figuring out ways to cut the energy bill. U.S. Department of Energy suggests to turn down your thermostat in winter and up in summer time. A programmable thermostat is a good assistant to increase the temperature during summer and decrease the temperature in winter a little bit when you are sleeping. In addition, you can perform an energy audit in your house and find out the areas that is not well sealed to prevent cold emanating from outside.

4. Cook at home.

Instead of dining out frequently, cooking at home helps a lot in terms of saving money. Do not always buy well cooked food and buy less prepared groceries as substitutes. Also, use as much coupons as possible when shopping for groceries and take full advantages of in-store specials. The idea of comparative shopping also applies here that you should shop in more than one stores because different stores provide various discounted items. Food should be bought in bulk to save both money and the effort of frequent shopping.

5. Pay attention to credit card fees.

If you have credit cards, try to pay off the full amount as quickly as you can. The Netscape Home and Living reveals that the credit card interest payments will add up very fast. Besides, set a credit card usage limit for yourself, since using credit card makes it much easier to forget about how much you have spent compared with using cash.

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