Ways to Save Money - Money Saving Tips
Money Saving Tips
We've compiled a list of the best practical money saving ideas
- Keep a budget and analyze every expense that you make.
- Get car insurance quotes and make sure that you have health insurance.
- Buy generic everything. Many generics are exactly the same as brand names.
- Get a mortgage refinance quote to see if you pay too much for home payments.
- Buy in bulk and get rewards cards at the supermarket.
- Insulate your home and use fans and ventilation instead of AC.
- Walk or take the bus and sell your car.
- Use Skype.com if you talk on the phone a lot, especially internationally.
- Travel cheap. Stay at hostels, Couch Surf or Air BnB.
- Pack lunch and bring coffee to work.
- Have a drink at home before going to the bar.
- Get a rewards credit or debit card.
- Invest your money. Vanguard or Scottrade is a good place to start.
- Get a credit report at AnnualCreditReport.com, the government sponsored credit reporting website.
- Ask for a discount on large purchases like a refrigerator or washing machine.
- Take advantage of federal tax credits for energy efficiency with Energy Star.
- Use the library. They have plenty of books, CD’s and DVDs. You can also request that the library buy certain books.
- Make saving a game. Set goals and give yourself a reward if you reach them.
- Don't follow your impulse. If you feel the urge to buy something, wait a few days and see if you still want it.
- At the grocery store look down. Items below eye level are often cheaper.
- Make a grocery list and stick to it.
- Take up hobbies that don’t cost money.
- Set the thermostat when you’re not home to save energy.
- Use open source software. It’s free and usually as good. For example use Open Office instead of Microsoft Word or Excel.
- Quit smoking. This calculator shows you how much you could save.
- Buy a quality used car instead of new. A new car is worth thousands less as soon as it leaves the lot.
- Food Bank. If you cannot afford food, find a food bank that gives out bags of groceries.
- Get rid of credit card debt. A $20 shirt could actually cost $200 with fees and interest if you don’t pay your credit card bill right away.
- Donate and have yard sales for the stuff that you don’t use.
- Watch for fees. Fees are everywhere; bank fees, atm fees, cash checking fees, late fees. These can add up over time.
- Group discounts. Try to get a bargain on everything and ask if you can get a discount, especially if you have a large group.
- Instead of buying things new, get them used or for free on Craig’s List.
- Lotto and Gambling. Generally, people lose money on the lotto and especially gambling. If you quit or limit this, you will save money.