Saving money may be defined as an art that you will need to master if you want to take control of your finances. Now, in order for you to start saving money, you will need to incorporate a number of tips into your daily routine. Most finance magazines suggest that you should start by paying off your debt, but that’s easier said than done. My advice, on the contrary, is to start by changing those habits that cause you to spend a lot of money every year, which you may invest in a more constructive way or, if you prefer, keep in your savings account.
1. To save money don’t go shopping without a list
How many times did you go out to get something and ended up purchasing lots of things you didn’t need? It’s ok, don’t feel guilty, we’ve all been there. The best thing to do to avoid such situations and resist the temptation to buy extras is to make a list of the things that you need before leaving home.
2. Don’t go grocery shopping if you have a lot of time on your hands
Start going grocery shopping only when you are in a hurry and you will find that your cupboard will no longer be full of food that you don’t need.
3. Pay your utility bills on time to save money
Nobody likes paying their utility bills, but it is very important that you pay yours on time as to avoid late payment fees, which most gas, electricity and internet providers apply. Now, automating your bill payments would no doubt make your life easier, but the problem with automated payments is that if your broadband provider sends you an exorbitant bill by mistake, the company would be able to withdraw the amount and then you’d have to spend hours on the phone trying to get your money back.
4. Are you a book lover? Here’s what you have to do to save money
Books may be not as popular and trendy as TV shows, but there are still many book lovers in the world who “need” to purchase new books every month, in order to always have something new and fresh to read before going to bed. If you fall into this category, then I suggest that you start borrowing books from the local library. This way, you’ll always have thousands of different books to choose from: all you have to do is walk or drive to the library.
5. Do periodical maintenance on your car
Sometimes we are so focused on our “primary” expenses, such as food, clothes and petrol, that we forget to have our vehicles checked. So make sure to have your car’s oil, tires and all other parts checked and, if need be, changed regularly. This way you will prolong your vehicle’s life and save lots of money on repairing expenses.
6. Save Money on your electricity bills
There’s no need to keep electrical appliances plugged in if you are not using them. Remember to unplug them after switching them off and you will notice the difference when you receive your next electricity bill.