Sunday, April 5, 2015

26 Ways to Save Money

Get a Credit Card without an Annual Fee

If you’re going to be paying interest, and hopefully you’re not, then you certainly want to avoid paying annual fees.  Shop around when it comes to a credit card.  There are many options out there, and your wallet deserves only the best.

A Cell Phone is More Than Enough

If you have a cell phone, you probably keep it charged, or keep a charger nearby.  Why do you need a landline?  Let go of that old school mentality, and quit paying twice for the same functionality. 

Borrow Instead of Buying

Books? Power tools?  A truck to help you move? Don’t buy something you’re only going to use once in awhile. Books especially can be borrowed for free from the local library.  The exception here being reference books you will use on a regular basis.  Power tools that you’ll use for example to finish your basement, you won’t need a year after the job is complete, so you’re better off renting it until you get the job done and sending it back.

Buy Used Instead of New

With the evolution of online marketplaces, buying used can save you money versus buying new.  Things like air conditioners, lamps, and even cars can be purchased for much better savings than buying new.  Just remember, if it’s electronic, plug it in and turn it on before you agree to buy it.

Price Shop for Big Ticket Items

When I say big ticket items, I think anything over $500.  Winter jackets, household appliances, and furniture can all vary in price depending on where you buy it.  Some smaller independant businesses may be able to give you a discount, or a large big box store may have a sale on. Before you spend a chunk of change, price shop to make sure you’re getting the best price.

Impulse Buying will Destroy your Budget

When somethings on sale, I immediately think ‘what a good deal, I should buy it now’.  But if it’s not what I set out to buy, I don’t.  Spending money on little things, lip chap, cookware, anything that’s not on your list of thing I need, can get you in debt if you’re not careful.

Carry a Water bottle

Buying cases of bottled water is cheaper than buying from a convenience store while you’re out and about.  However, carrying a water bottle is even cheaper.  A large water bottle can last you all day and once you've bought it won’t cost you anything to refill and use time and again.

Carry Snacks too

Life gets busy and we don’t always have time to go home and eat when we’re hungry.  Keeping a box of granola bars, breakfast bars, or a container of dehydrated fruit in your glove box saves you from impulse buying sugary snack foods in the checkout line and can get you through to a good meal at an affordable price.

Buy Instead of Leasing a Car

Leasing a car may seem like a sound investment.  You don’t have to worry about paying for maintenance, if something’s wrong with your vehicle it’s all taken care of.  But when your lease is up, you don’t have any value left from your vehicle.  People will commonly say that cars devalue and its not worth the headache, and sure your car will lose value, but you will still have some value left in the car and that’s more than you would have if you leased it.

Get Regular Maintenance on your Vehicle

It’s the little things that keep a car running well.  Regular maintenance is one of those.  Get your fluids checked and keep an eye on your mileage so you are never late for an oil change.  Your car will last a lot longer if you take good care of it.

Regulate your Electric Use

This one is hard to change your habits for but in small ways, which is what living frugal is all about, saves you money.  Most electrical appliances use a little bit of energy at all times so that they’re immediately ready for your use right when you want to use them.  That little bit of energy is costing you money.  How many things do you have plugged in right now? The dvd player? The computer? The tv? The microwave? Those are all sucking money out of your wallet in the form of electricity.  Cut back, and watch your savings grow.

Plan a Vacation Ahead of Time

Set a budget, save your money, and price shop to get the best offer money can buy.  There are many competing vacation package retailers out there, online and in a bricks and mortar office, so figure out what you want and go for it.  You've been saving all year, you deserve a break.

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