6 Effective Ways to Save More Money — The Kind Tips - Tips for Life, Study, Work and Entertainment

6 Effective Ways to Save More Money

6 Effective Ways to Save More Money

In order to save money in an effective fashion, you need to research and evaluate your spending habits first. This will be very difficult in the first place, but clearly this is helpful for you to understand and breakdown your daily expenses and force you to form a good saving habit. You can be more rational about making financial decisions on your household. Again, to better save money more effectively, look at every inch that you are spending money on and think about the budget of which part can be cut. Modify your expenses and consuming habits accordingly and this is the first step of great saving!

1. Cut down your food costs.

Food is one of the largest household expenses. Each day you may spend $5 to $10 for a lunch. You can gradually stop buying lunch and pack your own with you. Pick up a small reusable containers or cheap bag and enjoy your homemade food! Also, you can pack lunch for your kids instead of giving money for lunch. To get better taste and health, you will need to change your food based on your favorites and nutrition demands.

2. Save by trying “free offer”.

“Free offer” is a good friend for saving money, so you just take full advantage where you have the chance. Contact the manufacturer to request free trial on your favorite products and coupons for the goods that you use on a regular basis. Disconnect your video rental subscription service and turn to library for video, book and CD renting. If necessary, you’ll have to sign up a library card for the local library.

3. Manage your credit cards.

There is another way to save by saving in interest costs. You can contact your creditors through phone or email to request a lowered interest rates on all lines of credit. Just explain to them that your credit record is very good and never had a late fee before, plus you will keep on paying the minimum amount due on time each month. If you can, transfer balances to a zero percent interest card.

4. Reduce your costs on auto and insurance.

Auto insurance is a large expense that you can’t get rid of. To save more money, you need to ask for a higher deductible. Then you will put the amount of your deductibles into your checking or saving account, just in case you may have accident in future. Carpool is a great way to save costs on auto and you can sign up for carpool service at your workplace or just take public transportation.

5. Be a mature consumer!

Since you really want to save a fortune, you should be a “mature” consumer and stop thinking about buying everything. Seasonal sale is extremely good because you can get what you want in discounted price, so take advantage of that. You can find household goods, furniture and clothing at thrift shops or garage sales, which also save you a lot.

6. Stick to your budget plan.

The last tip—stick to your budget! It is difficult from the beginning, but if you save money month by month consistently, you will find your capability of setting and keeping the budget. Rough out monthly or quarterly reports to see if you do save money and stick to the plan or not, and remind yourself to go back to the right way if you aren’t.

*Image source: http://blog.acecashexpress.com/17696/keep-couponing-in-mind-to-save-money.

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