When it comes to building towards our financial futures, we all have to start somewhere. While investing and complex financial planning can help business owners and those who want to build wealth, for most people it is the little money-saving tips that can really help them to stretch their cash a long way.
This article is intended for those people who sometimes find they struggle to stick to their budgets and those who would like to start saving a little money. All of these hacks will help you to have a little more cash in your pocket at the end of each month.
Start Using Coupons
There are so many ways to save money using coupons that people often don’t take advantage of. Newspapers and magazines often have plenty, plus a lot of retailers offer money off on certain purchases. You should also take a little bit of time to research coupons for any purchases you make online. In many cases, you will be able to find something that you can use to save a few dollars.
Saving On Car Insurance
Car insurance can really bite you, especially if you are a young driver. In many cases, the amount you pay is partly governed by the job title you put on your application. With a little clever tweaking, you may be able to save a little money without lying on the application form. For example, writing “editor” instead of “journalist” can often save a bundle. There are many others, so consider taking a little time to check online to see which job titles lead to higher premiums.
Buying A Car
Purchasing a car is always going to be a big investment, so you should do what you can to make it as small as possible. Refusing the add-ons, most of which are not needed is a good start. However, you should also consider visiting a dealership at the end of the month. Any sales people who are struggling to hit their monthly quotas are more likely to offer you a better deal.
Turn Your Lights Off
It’s amazing just how much money is wasted by people being careless with their energy use. By turning off any lights that aren’t in use and switching off your appliances you will be able to save a few dollars each month that would otherwise be money that is going into the pockets of energy companies for no reason at all.
There are lots of potential tax claims out there for people who are savvy to them. For example, in some areas, you may be able to claim some money back on your taxes if you are required to purchase and maintain a uniform. If you have to wash and replace it then you may be able to get some money back. Speak to a financial advisor to find out more about similar tax claims that you may be missing.
Pay With Cash
While credit and debit cards have made it more convenient to make purchases, they also offer no tangible feel for the money you are handing over. If you draw the cash out for your purchases beforehand you will understand just how much you are spending. Furthermore, by leaving the card at home you cut down on the impulse purchases that can often ruin a carefully planned budget.
Cook At Home
While you shouldn’t completely avoid going out to eat, you will save an awful lot of money by cooking at home. Be honest with yourself about how much you spend on takeout and meals away from home. From there, you can make a plan to cut out as much of this as possible as you will almost always spend less on preparing a meal at home.
Clear Your Cards
Your credit card debts can become overwhelming if you allow interest to pile up. The best tactic is always to clear your cards as quickly as possible so you pay less on the debt. Don’t settle for the minimum payment if you are able to afford more. In some cases, this can save literally thousands of dollars in interest that can be put towards something more useful.
Buy In Bulk
If you have a large family you will probably find that your shopping bill has the potential to spiral out of control. You can buy items like toilet paper and canned goods in bulk to limit the effects. Granted, this will require a larger initial investment, but over time you will find the money you save buying in bulk will be quite remarkable.