Tuesday, June 19, 2012

Save your money

We all know we need to save, but most people don't save they know they need to save. Why? You need to be very practical to save money and ease the load on your wallet from today.

Keep a record of your expenses. 

How much you make and how much you spend. Since you have more control over how much you spend, it's wise to take a critical look at your expenses. Write down everything you spend your money on for a couple weeks or a month. Be as detailed as possible, and try not to leave out small purchases.

Set savings goals.

 For short-term goals, this is easy. If you want to buy a video game find out how much it costs; if you want to invest  determine how much of a down payment you’ll need. For long-term goals, you’ll need to do a lot more planning .

Make a detailed shopping list
 This is especially true for the grocery shop. The only way to keep the bills low and stay away from the cookies and other junk is to make a precise shopping list and stick to it.

Start turning off the fans, lights, microwave, television and your computor
 If you are going to be away from the room for more than 5 minutes. So don't just 'step into the shower' or 'take a half hour break' with all the electrical still on.

Stop buying grocery everyday. If you want to shop   every single day, start by bringing it from home just twice a week. If you buy it once a week, start buying it just twice a month. Slow and steady wins the race!

Cancel useless magazine subscriptions.
 online website subscriptions, Tata Sky channel subscriptions and memberships to the clubs, libraries that you don't use.

Keep your car serviced Running smoothly to decrease fuel bills.

Start carrying discount vouchers you have.

Eat out less often. If you're planning to go for a movie, prepare lunch or dinner. That way, you're less likely to be tempted to eat out.

Go shopping when you're in a mad rush - you'll only pick essentials.

Pay off your credit card bills before you're charged interest on the amount owed.

Keep a small notebook with you at all times.
 Get in the habit of recording every expense and 
saving the receipts.

Sit down once a week with your small notebook and receipts. Record your expenses in a larger notebook or a spreadsheet program.

Pay all bills on time - phone, electricity, internet, school fees, insurance and whatever else you need to avoid penalties.

Avoid ATM fees by checking which branches you can withdraw money from at zero surcharge.

Instead of buying books and magzines, rent them from a library. If you feel      must buy, get online and see if you can get any second hand ones that are in good condition. You may be surprised by what you find.

When stepping out of the house for a couple hours, carry your own drinking water. Buying bottled water every time you head out can really end up costing you a fair bit in the long run.

Shop during the sales
 Stick only to items that you're  dead sure are of good use and value to you. Do not buy things just because they are at half price.

    Don't get discouraged and don't give up.
   You may not think you can become wealthy but to become a millionaire is       possible if you set up a aggressive savings plan and stick to it. You may be surprised how much money you can put away for something far more enjoyable than what you could buy with short term savings.

I'm not interested in money, I just want to be wonderful and feel great.

1 comment:

  1. Henry- Advice on investing. Why? So you’ll recognize them when you hear them from the “experts” or your friends or from Some blog tks to mama guide.