If you are anything like me, then you can easily find yourself overspending what your income truly allots. I spent years throwing my money away on unnecessary items and services. I would buy new bottles of body wash (neglecting the leaning towers of bar soap in my closet), I payed monthly for satellite radio (even though I had an iPod and auxiliary input in my car), and I was going out to eat three or four nights per week (when I had a fridge filled to the brim with perfectly edible food).
It was not until the beginning of this year that I started looking up for some great tips to save money. After a simple Google search, I was amazed by the sprawling lists complete with hundreds of money saving tips that I never previously considered. I know that there are millions of people out there who struggle to save money like me, but are not sure just where or how to cut spending. I hope that this list of tips to save money can be of some assistance to others looking for simple ways to better budget their finances.
1. Take a look around. As I mentioned before with my bar soap ignorance, there are always items we have laying around the house that we either A.) do not think of when something runs out, or B.) leave to sit around because we would prefer a better, or newer version of it. This is one of my favorite tips to save money, because it requires no effort whatsoever (aside from maybe taking a peek in the cupboards).
2. Be mindful of deductions. This was one of the most helpful tips to save money that I found. I am an avid donor to National Public Radio, but tax rates may be higher come next year. It is wise to hold off on your donations until the rates are announced. There may be a larger deductible waiting for you in the new year.
3. Consult the kids? Yep, you read that correctly. Author of Entrepreneur Unleashed, Gregory Downing offers many tips to save money, but this one was inspired by his stating, “If the family is struggling economically, the kids know that in the household.” Kids are creative, and free thinkers. They are not as familiar with the specific boundaries of finances and hold an entirely different perspective on the household than we do. It may be beneficial to brainstorm with your children and see what big tips for saving money they conjure up outside the box.
4. Do It Yourself. Find homemade fixes to products which are frequently used. My mother in law is usually not the one I go to when I need tips to save money, but she is very environmentally conscious. She advised that, instead of buying cleaning products every two weeks, I fill a clean plastic spray bottle with white wine vinegar and baking powder. I was pretty skeptical at first, but I tried it and (much to my surprise) it works to clean counters and the bathroom just the same.
I thought I would just offer up, in one convenient location, some of the best tips to save money that I have encountered. Feel free to comment and add to the list. You can never have too many tips to save money!