In our daily life, we could see that even if we fancy exotic trips, restaurant meals, transit cars, we have to face the payment of some life necessities such as utilities, groceries and school supplies, which would cost us a lot of money. So we should try to save money in order to spend less on what we need and buy more of what we want. Here are some general tips for your consideration if you would like to save some money in one way or another.
1. Learn to haggle whenever possible.
If you want to save some money in your daily spending, you should learn something related to haggling. Negotiating for a good price for what you want to buy does not just happen at swap meets. It should be universal for every transaction you are engaged in, from the sales at the department store to the monthly cable television services.
At first, you may feel uncomfortable, but if you think in this way, you could get the potential savings and you would practice it more and more. It is kindly advised that when you try to bargain with somebody, you should always keep patient and pleasant.
You should regard such haggling as the game in which you could get the potential rewards, not the competitive sport which make you win in the end. If you want to save money from bargaining for retail goods, you could do it more effectively at the end of the week or the month, because at such time, there are some sales quotas to fulfill at the store or it has to clear inventory for new and more goods.
As for services, you could do your comparative study to find out who is the best service provider with cheap price for better service. Of course, sometimes you need to examine the company’s service plan and pick up the most suitable one for your use.
2. Adjust Taxes.
Although the taxes you have to pay for the government are fixed, you could decide the amount withheld from your own paycheck by raising your deductions on your W-4 form.
It would much helpful if you could have a big tax refund each year. If you want to keep your refund to nearly zero point, you should have your money get into your pocket each month instead of at the end of the year.
If you think it necessary, you had better get advice from the personnel department or accounting department in your company to help you adjust the amount you have to pay.
3. Pay Yourself.
When you have an idea that you want to set aside some cash needed for a holiday or an emergency fund, therefore, you should regard such goals as bills that you should necessarily pay every month. By doing so, you need to open a bank account separately for each goal. If your workplace is able to have direct deposit, so you could have a certain part of your paycheck into each account automatically. Such deduction could cost you no pain since you would never touch the money at the very beginning.
Here you could follow another method for saving money into your savings account. That is to make yourself be charged with a savings tax for everything you buy or consume. For example, you set the charge rate as 10 percent; it means that if you spend $10, you should $1 away as savings tax for the thing you bought or consumed, then you could prepare an envelope or a jar into which you could drop the money charged as savings tax. At the end of each month, you could take the money out and transfer it into your savings account.
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