Simple Ways to Save a Few More Dollars

Everyone wants to save money today and with the rising costs of necessities, it is important to put aside funds for emergencies and other savings goals.

Saving money is not only depositing large sums of money into a bank account. Cost cutti

ng techniques can boost the amount of disposable income and this increases the savings potential. While it is strongly encouraged that families enjoy their earnings, it is better to minimize the amount of money that trickles out of the budget by using techniques that can increase the piggy bank's holdings.

Buy Used Items to Cut Costs

While some people frown on buying used items, a trip to the thrift store can save money. At some thrift shops, pots, coats, books, cribs, child seats, plates, silverware, clothing, telephones and many other items can be found. Persons on a tight budget can definitely benefit by saving money on the cost of buying the needed item at full price by buying used.

Walk More, Drive Less

Consider walking short distances instead of driving especially when running errands. Walking provides exercise and relieves the stress of searching for a parking space. This also saves time. Reduce spending on gas while keeping fit running errands

Pack Lunch and Snacks to Work

Fruits are the best snacks from a nutritional standpoint. Purchasing a cup with diced fruit from a deli is more expensive than one apple bought from the grocery store. In addition, packing lunch makes it easier to set budgets for grocery shopping without adding in the cost of daily lunch which can run from $6 to $15 per day.  

Use the Debit Card More Than the Credit Card

Shopping with the debit card means that when the money is deducted, it comes from the bank account. A person will pay for what was charged. With the credit card, in addition to the price of the goods, interest accrues especially if the bill is not paid up front. Some credit cards are have annual fees.

Use Energy Saving Bulbs to Save Money

Using these bulbs can definitely cut electricity bills. The initial cost may seem high but these bulbs also last longer than incandescent bulbs.

Set Realistic Savings Goals

Saving is needed for emergencies, short term goals and long term plans. Saving can be done through direct deposit or via manual deposits in the bank. When saving, it is always better to start with a realistic figure that would not push the early withdrawal of the funds. Set up a budget based on the income earned and the predictable expenses with a small contingency amount for emergencies. Based on the amount left, an amount even if it is $25 can be set for monthly deposit. Remember that $25 saved per month results in $300 in one year.

As the cost of living increases, everyone has to make changes so that all their income does not trickle out and they are able to save. Some simple techniques such as using energy saving bulbs, preparing lunch or using the credit card less can help families to save a little more. The key to saving is budgeting and seeking ways to reduce expenses.