The economy is so bad right now. It seems almost every one is in debt, running up credit cards, spending money they don’t have, etc. Below is a list of 10 quick tips to help you save money. This is part 1 of a series. Of course these are just a few ideas to help you save a little bit. If you really want to get out of debt and have a better quality of life you will need to do much more. You will need to focus on things like increasing your income, investing and financial management. The ideas below will help:
1. If you are good with paying off your debt right away then you should use credit as much as possible. Research the offers you get from credit card companies. Despite contrary belief (as long as you can control your spending habits) credit cards can be good things. They offer discounts, some give points that you can exchange for things like gift cards or other goodies. Others give a small percentage of cash back. I have one that I use when we vacation because it offers free travel insurance.
2. Get your books from the library instead of buying them. You can get new releases at the library too. No need to spend $30 at the book store. For new releases, hard to find or out of print books put in a request at the library. If they don’t have it they will request it from another branch. I have never waited longer then 2 weeks for any book I requested.
3. Look at your cable bill. What channels are you paying for that you never watch? Cancel them. Go one step further and think about if you really need anything more then basic. I’m sure we can all come up with many things we would rather be doing then watching TV all the time.
4. Bargain hunt. Shop clearance sales, going out of business sales and thrift stores. You can save thousands of dollars a year just by being a smart shopper. My sister recently found a J Crew dress at the thrift store. It’s in the catalog right now. She spent $5.00 on a $225 dress.
5. This one is simple but we often forget it – Buy what you need, not what you want.
6. Sell items that you no longer need and are just creating clutter. Have a yard sale or better yet open an ebay or amazon account where you will reach more people. The items your selling are clutter to you but may be a treasure to someone else.
7. Don’t gamble, buy lotto or scratch off tickets. We usually wind up spending way more then we will ever get back. In fact the chances are higher that you will get struck by lightening in this life time. It’s probably not worth it.
8. Start your own home based business. You could try selling on Ebay, Amazon, Cafe Press, Etsy, etc. There are lots of places and one is sure to meet your needs. You could also try affiliate marketing or post your skills on to an online freelance site. People are always looking for help with things like typing, advertising, mailings and more. Build up a clientele and before long you will be working full time as a Virtual Assistant.
9. When planning your family vacation book something in off season. You will pay half of what you pay during peak season
10. Find a good club store and buy your groceries in bulk. Stock up on things with no expiration date like detergent and paper towels. This isn’t just a money saver, it’s also a great time saver
Add up the money you are saving monthly. Seeing it will make you feel good and help you stick to your plan. Put what you save in an account where it will earn interest.