money saving tips

Are These The Best Money Saving Tips?

September 14, 2015 by editor

Buying Groceries

If you’re looking to stick to a budget or reduce your spending, one of the biggest ways you can save money is on your food shopping. Buying your groceries is undoubtedly the best way for you to have control over what you eat and what you spend, rather than forking out money on fast food, take-away meals or going out for lunch or dinner to a pub or restaurant.

However, grocery shopping is not without its drawbacks. There are so many temptations and it can be so confusing with all the different deals and offers as well as promotions of new products that mean most of us will return home with much more than we wanted and spend way over our designated budget.

In this article you will find seven money saving tips to keep in mind the next time you visit the grocery store.

Before You Leave Home

There are a few things you can do before you even step outside the door:

Plan your menu for the week or the whole month, if you do your shopping monthly, and write a shopping list. You may find it easier to plan your list according to how your supermarket is laid out or by category like: fruit, vegetables, dairy, cold storage, freezer, staples, cupboard etc.
Check your shopping list against the items you already have in your cupboards, pantry, fridge, freezer and any other food stores before you head out the door to see if you need more of an item or if you already have enough.
When you get to the grocery store only buy what is on your list and don’t deviate. If it’s not on the list, it doesn’t go in the trolley or basket.
Conduct research before you go out the door. Look at the grocery store’s flyers to see what is being promoted that week and look in any of your regular magazines or newspapers for coupons or vouchers. This may seem like an outdated strategy but you can save a lot of money. Coupons are also available from coupons.com, so make sure you use these to your advantage. You can actually double your savings if you’re a little coupon savvy.
Eat something before you leave. If you are hungry before you get to the store your hunger will guide your choices and you are likely to purchase far more than you need. Try shopping after you have eaten or at the weekend when you can have something to eat before you go rather than on the way home from work before dinner.

When You Get To The Store

Grocery stores have certain tricks to entice people to spend more money. They have marketing and promotional strategies to draw your attention and millions of dollars are spent on research and advertising to make sure certain products are presented in the best possible way just to help you part with your hard earned cash. Keep this in mind as you enter the store.

It’s good to have a strategy for finding the items you need. Some people go up and down every aisle while others zig zag in various directions looking for what they want. The following tips should keep you on track:

Try to stick to the outer aisles as a lot of promotional items can be found at the ends of aisles right in the middle of the store. Essential items are often placed around the store in different locations so shoppers are encouraged to pass through the middle aisles on their way to their essential items. This can lead to impulse buys and spending extra – remember rule number 3 from the category above. If it’s not on the list it doesn’t go in the trolley or basket.
We often go to the store looking for a recognizable brand because we know it, like it or trust its quality. However, generic brands or the grocery store’s own make is often much cheaper than well-known branded items and the quality is just as good. You can see how similar they are by checking the list of ingredients or doing a try buy – this means buying one of the branded item and the same in a generic item and then using the generic item instead of the branded. If you like it and it’s similar to your branded item then you will save money in the future and buy the generic brand instead. If you don’t like it – no harm done and you have your branded item for next time.
Prepared foods and ready meals are often sold at a higher price. If you bought the separate ingredients needed to make the same food it might cost a little more but you will get four to six portions from the ingredients you buy rather than just enough for one person. You may also have some ingredients like herbs and spices left over that you can use in other dishes. Prepared foods look good and can save time but if you make a batch of meals you can easily freeze the portions you won’t eat for another day giving you more for your money and peace of mind knowing exactly what has gone into your food and how it was cooked.
The bottled water industry is a multibillion dollar business and although bottled water is a healthy choice it can also be ridiculously expensive. Tap water is just as good and a fraction of the cost. Most places have safe, drinkable tap water and you can even buy a Brita Filter if you wish to remove any potential contaminants.
When grocery stores are promoting products and items are reduced or on sale they often sell out of these items very quickly. You may be disappointed and just go ahead and buy a higher priced item instead. However, not many people know that they can ask for a rain check and this allows you to come back at a later date when the item is back in stock and buy the item for the sale price instead of the full price.

There are many opportunities for you to save money on your food shopping without skimping on quality and taste. By making food from scratch, checking for coupons and being well prepared you can be in complete control of your shopping budget.

[Read: Tips to Save Money and Maximize Your Income]

It’s worth shopping around too for deals and although sometimes it’s a hassle going to different stores, the savings can be incredible not to mention reduction in food miles – the distance your food has had to travel to reach the grocery store and the impact of this on the environment. Shopping at local stores for fruit, vegetables, meat and other produce can save you dollars and help the environment too.

Tips to Save Money and Maximize Your Income

May 5, 2014 by editor

We all have our monthly needs and expenses: food, clothing, shelter, toiletries, and so on. All too frequently, it seems that our paychecks are spent before they even arrive. By using all or a few of the following easy tips to save money, you are sure to find that your income can often go much further than you thought possible.

Budget

This tip to save money involves taking a long honest look at your income and make a real effort to keep record of all your expenses. Make lists when you go to the store and mark which items are most important; it sometimes helps to scribble down the cost of each item that goes into the list. Keep receipts to see where your money is going and know how much comes in. Keeping track of this will increase your awareness and help you prioritize expenses.

Know your Limits

Another great tip for saving money is to minimize your expenses by differentiating between want and need. Learning to live within your means can be hard, but cutting back a little bit in little ways, such as buying generic products, and cancelling services that you don’t actually use can actually help you save for more expensive items later.

Stay Vigilant for Deals

Know the price differences of commonly purchased products across various stores. Just taking the time to know where you can find things for less is an excellent tip for saving money. It is also helpful to know where to look in the stores for discounts. Manager’s Specials and stuff that is price reduced for quick sale are smart stickers to look for, if you’ll be eating it that day or soon after.

Join Customer Loyalty and Reward programs

It seems now that every store has a customer reward and loyalty programs, bookstores, clothing outlets, grocery stores, drugstores, everyone. By using this tip to save money, these cards not only offer savings to cardholders, most cards grant you reward points that can be used on future purchases of fuel and more.

Coupon

While that weekly newspaper of specials is often trashed without a second thought, hang on to it next time, as collecting coupons is another way to save big on products. If you haven’t quite a vice or two yet to save money, tobacco companies offer from fifty cents to $1.50 if you’re willing to try different brands and new products than you usually do. Both store coupons as well as those from manufacturers often expire within a month or two into the future, hold on to the coupons until you find a great deal, but read the fine print and date to avoid wasting them.

Use the Web

Many blogs and even manufacturers’ websites collect coupons and deals for readers. Using this money saving tip and sign up for email/mailing lists of items you frequently buy, or even ones you only buy once in a while. Often you will be mailed manufacturer coupons for even bigger savings right to your mailbox simply by registering. There are also vendors like moneysavingmom.com, or retailmenot.com that do the leg work of finding deals for you. Or you may check Amazon or eBay, there you frequently find items you would pay big bucks for on the cheap. For more savings when you go to the store, sites such as coupons.com will actually allow you to browse coupons and print them out immediately for free.

Get Creative

There are tons of stores that offer wonderful savings that are often neglected when we consider our shopping needs. A smart tip to save money on many products merely involves looking at places like dollar stores and thrift shops, especially for housewares. Also check franchises such as ROSS, TJ Maxx, and other outlet stores when buying clothing, as most sell clothing that is either out of season, or contains imperceptible imperfections.

People should not have to live their lives stressing over money. Becoming financially responsible and being savings savvy allows you to feel (and actually be) more in control and less overwhelmed by the expenses of daily life. You may or may not have a lot of extra cash lying about at first, but commit to following these tips to save money, and over time you may find yourself with more and more money left after each check that you can put away for leisure activities and other things. Furthermore, feeling more in control of your finances, you will probably feel far less stress surrounding other areas of your life, and a feeling that you can control those things as well. It takes a lot of self-discipline and planning to save, but in the long term, developing good spending and saving habits will be one of the best things we can do for ourselves.

Money Management Tips To Stay Out Of Debt

March 4, 2014 by editor

There are numerous ways to manage your budget, reduce your expenses and to stay out of debt. Staying on and managing budget can be stressful and overwhelming but simple strategies are easy to carry out as they require less effort and at the same time easy to remember.

Determine your overall income

Are you on a fixed salary where you know for certain your monthly income or are you dependent on your daily wages? Whatever is the mode of income, you should have a rough idea of how much you can expect to earn so that you can successfully design your budget so that you don’t go overboard in your spending hence making it a beneficial tip to stay out of a debt.

Use a Budget Worksheet for Money Management

This may be time consuming initially but it surely is a great method to keep record of your spending. You can use either a notebook to keep a record of your daily expenditures and income or a computer spreadsheet, ever method seems feasible to you. Do it regularly to get an overview of your expenses. With this simple method you can stay in budget and can stay out of debt.

Pay Yourself First

Another tip to stay out of debt is to maintain and grow your saving’s fund so that in times of need you are not without any financial aid. Make a habit of depositing in your savings fund, even if it is $10 or $20 per pay period. In real world you should shoot to save about 10% of your pay check. It is important to have a reserve available for emergency purposes or out of the blue expenses so that you don’t

Track Cash Expenses

Miscellaneous expenses and cash purchases are leech to any budget. You should resist cash withdrawal from an ATM and only do so when there is no alternate solution left. Give yourself a weekly budget and stick to it and even try saving from it too. Snacks, coffee, movies all should come out of your allocated allowance. This tip for staying out of debt can come very handy if used diligently.

Do Not Make Major Purchases Impulsively

Another tip to stay out of debt is to think before spending. If you are thinking of making a major purchase, spend some time contemplating it. Check its necessity level, look at your savings and calculate the amount left after making the purchase and look for sale and discounts offer for the best price. In this way you can save almost half of the money you were going to spend it.

Use Coupons and Discounts to Save Money

One of the best tips to stay out of debt is to keep your eyes open to discounts and coupons offers. Restaurants and chain retailers have various coupons and discount offers advertised on weekly bases even on daily bases too. Deals and offers on both food and leisure. If you have a keen eye you can collect and find out many great. A consumer almost never has to pay full price if he is willing to do a little research for very few things.

Use Generic Substitutes

Try using generic version of the product instead of the branded. Most of the time generic counterparts have more or less same substitutions. It’s always advisable to try a product before you purchase it in bulk. If you search the market good you will be able to find many generic products that are not only good when it comes to quality but also will be good for your monthly budget too.

Bundle Services for Savings

One useful tip to stay out of debt is to buy products in bulk. Not only this saves your time by not going to the market every other day but it is relatively cheaper at the same time. Many service providers offer great discounts for bundling a number of their items together. Dig deep into the companies you are currently using and compare their rates with the other available options in the market for the same services. Insurance companies offer discounts for bundling home, auto and boat insurances together.

Choose your insurance company sensibly.

Search the market for insurances in the same way as you do before buying any product. Look for companies that are reputable and offer you the best service for the least possible cost. Do not feel obligated to stick with the same insurance company just because you have used them for a long time.

Using Bill Consolidation to Reduce Your Monthly Expenses

If your finances include several credit card companies or other multiple bills you should try consolidating your bills in order to reduce your monthly payment.

With little effort we can develop a plan for staying or getting out of debt and securing your financial future.

Money Tips for Married Couples

December 14, 2013 by editor

So many married couples have financial troubles. Some begin before marriage and carry into the marriage. Without tips for married couples, so many couples will become part of the divorce statics.

In order to find the best financial options to avoid troubles here are some tips for married couples.

Shared Goals

There is a good tip for married couples that suggestions that they goals you have been ones that you share. When you being the process of becoming married you should talk about those things that you want for your life. Talk about buying a home or having children. You even might want to consider how to provide those children with a college education. There is a piece of minds that comes for a couple when you have both been involved in making the decisions and is in agreement with the outcome.

Many times, you are able to diversify your assets, into a larger holding. However, in order for many of these things assets to be taken advantage of, you will need to communicate as a married couple, as well as your financial assets may need to be shared in order to make the best choices with your holdings.

Sharing costs might be something that seems like it is common sense, however it is not always so. For large to small purchases, it is important to share the communication and the ability to make some decisions. The shared costs can be anything from groceries to the right home, are all purchases that need to be made by both parties.

Communication

Another important tip for married couples is communication. Keeping open lines of communication open. Money is something that needs to be talked about even before the marriage.

It is imperative to communicate the things that are needs in your life. In many relationships, women do not feel as though they are worth helping to make investment decisions especially those regarding retirement. A tip for married couples is to plan together, many women have the ability and knowledge to help with many investment decisions.

Harmony is a unique tip for married couples when you are looking into financial situations. It is important to create a financial plan, and be in harmony regarding that plan through everything.

It is important that if you do divorce that you continue to be honest about the income and properties that you might have. It can be not only complicated but you can also get into a lot of trouble. Open lines of communication can make a split up a lot easier.

Financial Checkups

One tip for married couples is the need to continue to conduct frequent checkups. Many times each person in the couple start to head off in their own direction financially, to come together frequently, communicate, and evaluate your plan. This is an important thing to remember.

It can be very imperative for a couple to be there to support each other through the difficulties of the financial world. Even though both women and men can earn a significant income, it is important that if any situations come around in a financial situation that you are there to support each other.

The money skills that each of you bring into the marriage is something that you need to consider often. It is unlikely that both members of the marriage will have the same financial knowledge. However, to discount what the other spouse does bring in can be a large financial mistake. It might be smart for one person to take charge of the day-to-day finances, bill paying and such. While the other person in the marriage, might take charge of the retirement or other long-term investments.

Take Advantage

When you are a couple, you are meant to look for things in the long term. One of the tips of married couples is the tax benefits that you can receive when you become married. You may end up paying a bit more in income tax; however, there are some savings as well.

It can be helpful to put your resources together. This can be helpful when you are looking for better access to credit, or the ability to invest in more things. Placing your items in a joint ownership, it can help you have added protection from creditors.

Another advantage that you can gain is that social security does offer spousal benefits. It is also helpful for a person to looking into the better health care options. The fact that the individuals in the marriage will reach retirement age at different rates, providing new advantage in regards to retirement. Staggering the retirement ages is beneficial from a financial standpoint when you take advantage

There are so many tips for married couples that can help through financial time. Learning about being able communicates, share your goals, and take advantage of being a couple.