Here Are 13 Ways To Save Money:
1. Be open about money with your family: While growing up, my mother hung a spiral notebook by the back door in the kitchen listing all of the month’s expenditures, church tithes (donations), savings, and extra income. It was her way of telling us where our family’s money was going. If we wanted or needed something, all we had to do was look at that list and see if it was even worth asking her. If there was no money left over for the month, we didn’t ask. If there was, we’d take the risk. Needless to say, all four of us kids got jobs at fifteen so we could have our own income. Expose your children to fiscal responsibility at a young age and see how open they are to understanding the difficulties and benefits that comes with it. I know we did.
2. Designate some money for a side savings I use all of my random craigslist sales or small cash gifts for a Christmas/donation account that I keep on the side. That way, when Christmas comes around or if someone I know is in need, I don’t stress about from where the money is coming. That way, I can buy the gifts and cards for friends and family without having to think twice.
3. Discuss major and non-essential purchases with your spouse before walking into the store. After trial and error, my husband and I have an agreement to discuss money matters and spending budgets before leaving the house. If we cannot come to an agreement, then more research must be completed before we find the optimum situation for a purchase. We avoid debating in public to avoid arguments. It’s a relationship saver.
4. Remind yourself of your financial goals Keep your financial goals at the forefront of your mind, especially when you’re in a spending situation. If spending will honestly help you (and I don’t mean getting the Beemer for your drive to work) then go forward wisely. However, remind yourself of financial goals you desire to meet within a deadline: paying off credit card debt, saving for vacation, saving for a marriage or new child, and so forth. Remind yourself that by living frugally, you’re able to really live the life you’ve always wanted.
5. Go used! I always find it funny how so many people insist on buying NEW when everything eventually becomes USED! I enjoy buying used furniture because with a little research, time, and (sometimes) elbow grease, domestic beauty can be found. A friend of mine, a former CEO for an international corporation, loves finding furniture on the side of the road and fixing them up even though she can afford not to. Check out craigslist in your neighborhood. Cities like San Diego, New York, and Miami have almost everything imaginable for sale – and cheap! The best part is, you can negotiate and there’s no sales tax for most items!
6. Sleep on it If you’re feeling conflicted about a purchase, sleep on it. Many times, I completely forget about what I wanted to buy. Other times, I’ve completely made up my mind and decide to go through with it.
7. Make dining out a special occasion I met a women who spent $2,000+ each month (for a family of two) on dining out. Her logic for this spending was because she was in the middle of remodeling her kitchen and didn’t have a place to cook and dine at home. If she spent the money used for dining out to complete her kitchen, she’d be able to pocket that money for other things like retirement. Make dining out a special occasion one in a while and use the opportunity to celebrate something (like how much money you’re saving!).
8. Organize your home I know a family whose home is so disorganized that they have five pairs of scissors because they keep losing the other ones. Know where everything is with an organized home. Keep stock on everything you have so you don’t feel tempted to purchase something you already have.
9. Go to free events Check your local newspaper, vistors’ bureau, community centers for free events near you. Take advantage of them and reconnect with your community.
10. Use coupons The amount of coupons and special offers have gone up during this recession, so take advantage of them. Get what you really need, though. Shop during sales and have the patience to wait for your favorite item to go on sale.
11. Take care of your wardrobe You do NOT have to launder your clothing after every wear. Most clothing can be washed after every three to five wears. Air dry them, too. The fabric lasts longer. Purchase pieces made of quality fabric and have quality construction. These pieces will last for years, saving you money on the long run and making you buy only basics like t-shirts, under garments, and socks each season.
12. Give yourself MAD MONEY This is money my Grandma uses for totally random, impulse purchases. It’s not a lot. It’s $15 for a week or two, but it’s money for fun expenses. Remember, when it’s gone, it’s gone!
13. DISCIPLINE YOUR EGO! I can’t tell you how many clients and people I meet who justify their over the top spending because their “image depends on it” or if they don’t have a fancy car, big house, or latest gadgets then their “friends” with judge them. Learn to tell the difference between wants and needs. Tell yourself that stuff do not make the man, but rather what man does with his resources that defines him. Real friends will respect you for the decisions you make, not for the things you have. Let go of the need to have stuff and the need to have others’ approval.
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