Click Here to Tweet this Article!In today's stressed economy it seems next to impossible to put any money away for a rainy day! In fact, for most people it has been raining for months so to speak. It is time to tighten our belts and try to save money anywhere we can! There are some simple ways to save money in your every day life.
I have direct deposit for my day job paychecks. I leave money for my bills in the account, a small buffer for the "oops" factor, then I take out the rest for things like groceries and other items. I keep only $10 and $20 bills in my wallet. Anything smaller than that goes into my pocket. When I get home, all of my change, $1's and $5's go into a jar. At the end of each month I take my jar to the bank and put the money into a savings account! It adds up quick.
I learned a while back that if I cannot afford it I should not buy it. Each and every time I decide to buy something I save up the money needed to buy it. I do not use my credit card any more for things I cannot afford. If I do not have the money on hand I go without until I have the money for it. This saves me a lot of grief! The idea of having a credit card for an emergency tends to cause the definition of emergency to change!
Along the same line, NEVER borrow money to pay off a debt! Most of the debt consolidation ads you see end up costing you more money in the long run. Most credit card companies and utilities companies will accept any payment. Many times you can work out a special payment plan that will keep you from being turned over to collections. Doctors, Dentists and Hospitals also will work with you. You never know what you can work out until you ask!
If you have been with a credit card company for over a year and never missed a payment, never been late with a payment and in otherwise good standing, it never hurts to ask for a lower interest rate. It is amazing how much you can save just by dropping your interest rate a couple of percent. If they say no, you may want to look for a card with a lower rate and transfer the balance. You can at least use that as a bargaining chip!
One of the best ways to save money is to start a budget and stick to it! Equalized billing from the utilities companies is a must for setting a budget. Set up an envelope for each expense you have, rent, electric, water, etc. Even set up an envelope for entertainment! Once the money is gone it is gone. Stick to the budget and you can actually save money!
I have direct deposit for my day job paychecks. I leave money for my bills in the account, a small buffer for the "oops" factor, then I take out the rest for things like groceries and other items. I keep only $10 and $20 bills in my wallet. Anything smaller than that goes into my pocket. When I get home, all of my change, $1's and $5's go into a jar. At the end of each month I take my jar to the bank and put the money into a savings account! It adds up quick.
I learned a while back that if I cannot afford it I should not buy it. Each and every time I decide to buy something I save up the money needed to buy it. I do not use my credit card any more for things I cannot afford. If I do not have the money on hand I go without until I have the money for it. This saves me a lot of grief! The idea of having a credit card for an emergency tends to cause the definition of emergency to change!
Along the same line, NEVER borrow money to pay off a debt! Most of the debt consolidation ads you see end up costing you more money in the long run. Most credit card companies and utilities companies will accept any payment. Many times you can work out a special payment plan that will keep you from being turned over to collections. Doctors, Dentists and Hospitals also will work with you. You never know what you can work out until you ask!
If you have been with a credit card company for over a year and never missed a payment, never been late with a payment and in otherwise good standing, it never hurts to ask for a lower interest rate. It is amazing how much you can save just by dropping your interest rate a couple of percent. If they say no, you may want to look for a card with a lower rate and transfer the balance. You can at least use that as a bargaining chip!
One of the best ways to save money is to start a budget and stick to it! Equalized billing from the utilities companies is a must for setting a budget. Set up an envelope for each expense you have, rent, electric, water, etc. Even set up an envelope for entertainment! Once the money is gone it is gone. Stick to the budget and you can actually save money!
If you find yourself in need of a little extra cash you could get a part time job. There are many places that just need someone for two to four hours a day two or three times a week. Find a job that fits the time you have available. If you cannot get a part time job try selling your rarely used items on-line. Craigslist or local bulletin boards do not charge a fee and you can sell just about anything!
If you are creative you can sit down and come up with many more ways to save a little money. If you do, be sure to leave a comment so you can help other people as well. Below are a few tips that you can tweet to your twitter account.
TIP: Use cash and put your change in a jar! You'll be surprised how fast your change will add up!
TIP: If you cannot afford it DON'T buy it! Save up money for what you want to buy.
TIP: Never borrow money to pay off a debt! Refinancing to pay off debt is just redistributing your debt not actually paying it off!
TIP: Ask your credit card company for a better interest rate! If you have had a full year of paying on time and your account is in good status why be punished?
TIP: Start a budget and stick to it! If you stick to your budget it has a 100% better chance of actually working!
TIP: Sell rarely or never used items on Craigs list or a local message board! Why keep junk that you don't use and don't need?
