Thursday, July 15, 2010
5 Ways to Start Saving Money Now
I have been big on saving money this year and through some trial and error, these are the 5 best ways I have found to start seeing a meaningful increase in the amount of money you are able to save. These are all basic, no fuss, no muss methods. Nothing fancy, just common sense.
#1. Cut down on your credit card usage, way down. If you don't have the cash on hand to buy something, then don't. Use only one credit card every month and make sure to pay it off every month. This way you eliminate having to pay interest on purchases. If you are able to cut out credit cards altogether and function on a cash or debit/check card basis, all the better.
#2. If you shop online, sign up with cashback shopping sites like Ebates. You will receive a percentage back every time you shop and they are free to join. Pair that with sales and special coupon codes to maximize your savings.
#3. Clip coupons! I know, it can be time consuming but it is well worth that time. Read up on how to pair store and manufacturer coupons and then pair them with drugstore reward programs like Walgreens Register Rewards and CVS Extra Care Bucks to capitalize on your efforts. Download the Free Couponizers Smart Guide to Savings Ebook, it will teach you all about coupons.
#4. When planning a major purchase, like let's say a refrigerator, do your research. Don't settle on the first one you see at the home improvement store. Try the electronics stores or the warehouse stores, sometimes they will have better deals and different options as far as models go. Don't discount shopping on the store websites either because some stores often run online only specials, Best Buy comes to mind. Also research the brands, try to see which companies have the best reputation for refrigerators. Since appliances don't seem to last as long these days, you need all the help you can get when trying to find a good one.
#5. Buy only what you need. I know this should go without saying, but we all cave on this one. All it takes is one half yearly sale when the shoes you have been drooling over are miraculously 50% off and are calling out to you like a lost child looking for its mother. This is when will-power must take over! Resistance is not futile ladies, and your pocketbook will thank you.
So, in a nutshell, cut out credit cards, try cash back shopping, clip coupons, do your research and resist impulse buying and you'll be on your way to saving and keeping more of your hard earned money!
*affiliate links included in this post